K. & M. FORWARDING CO.
Charters For The Coal Business.
The Witness says the Kingston and Montreal Forwarding Company owns 12 barges and two large floating elevators at Kingston. The capacity of the Company's boats amount to 400,000 bushels of wheat per trip. These vessels are employed in the coal trade between Oswego, Charlotte, other Ontario ports and the city of Montreal, and in the grain trade between Kingston and Montreal. With regard to the prospects of the grain trade, they are not, in the opinion of the agent of the company, very bright at the present moment. There is nothing hopeful in the outlook yet. The fall in the price of wheat has not resulted as yet in large shipments to the other side, the
Demand In Great Britain
being apparently dead. Even if grain were going forward, not much would go forward by water until a change took place in railway freight rates, which are abnormally low at the present time. The low railway freight rates are killing the water transportation. It is, however, impossible to foresee events in the grain transportation trade, and a complete change may easily take place in the whole situation before the opening of navigation. Rates will open, it is expected, at 2 3/4 cents per bushel for wheat, and 2 1/2 cents per bushel for corn, or about the same rate as last year, when such a good business was done by the forwarding companies. Considerable coal business will be done, however, between Ontario ports and Montreal during the coming summer. Large contracts for the transportation of coal have already been made at paying rates. Over 200,000 tons of hard coal, or about 20,000 tons more than last year, will be consumed in Montreal during the coming year.
A Number Of The Propellers
which have been employed between upper lake ports and Montreal, will this year be withdrawn from the Montreal trade. They will not come further down than Kingston, as they have made contracts to freight coal from Ontario ports to Port Arthur for consumption in the north west of Canada. These vessels will bring grain from Duluth on their return trip to Oswego and Kingston, the latter port being likely to secure a fair share of the trade. The forwarding companies will profit somewhat by this change, and the Richelieu Company will get some additional freight from Montreal to river ports, but the difference will not be very material, as the railways have done most of the business. This year there will be less up freight than for some years back.
The Reliance has been launched at Deseronto.
The str. Armenia has been sold to parties in Toronto.
Capt. James Dougherty has purchased the schr. Clara White.
The Welland Canal will be open for business next Monday.
The yachts Una and Laura are undergoing repairs at Power's shipyard.
The schr. Gipsy left Clayton on Wednesday for Deseronto for a load of lath.
The Crusoe, chartered by Capt. Garrett, will commence running on the 5th of May.
The schr. Pinafore, now lying at Chaumont Bay, is to be sold at auction on May 8th.
The Ogdensburg Coal and Towing Co. have fifteen barges and the tug Seymour in their fleet this season.
The tug Rambler left Breck & Booth's wharf this morning for the canal. She is commanded by Capt. Noble.
The schr. Philo Bennett, Capt. Eccles, is loading 120,000 feet of pine lumber at Rathbun's dock for Oswego.
The schr. Lem Ellsworth has been chartered to carry paving stone from Grindstone Island to Chicago at $1.40 free in and out.
The steamer Norseman, under charge of Capt. R. Crawford, left last Saturday for Charlotte with a cargo of horses and peas. The steamer has never been in better trim than she is now.
The schr. Prince Alfred is now fitting out. The vessel will leave in a few days for Oswego, there to load coal for Detroit. She will then be converted into a lumber barge. P. Mullhall is second mate on her.
The steam barge Nile has been ordered by Mr. Adams, inspector of steamboat machinery, to go into ordinary for a few days in order that she may get the crown sheet of her boiler repaired. It has sagged a little.