Chicago Daily Tribune Newspaper, May 8, 1873, Page 5

e e e INSURANCE. \ Annual Report of. State Audi- tor Lippincott. Companies Almittod to Do. Dusiness in - Tinois tho _I'nst, Year. Statoment of Business Transacted by " Gompanics Reporting to the i Auditor. List of Insolvent Compnanies, and Their Financial Condition. Suggestions on the Subject of Taxing Premium Receipts, Spectal Dispateh to The Chicago Tribune. BenixoriFep, I, May 7.—Gen. Charlos B. Lippincott, Auditor of Btato, has just laid bofore tho Governor his fifth annusl insuranco roport. It ia roplote with facts which go to show the ad- irablo mannor in which he has conducted that fmportant branch of hiz office. Binco his last roport, thoro have beon sdmitted to do businoes iu this Stato thirty-six firo and fire and marino jnsuranco compnnics, with n total capital of §12,305,218.03, boing $7,290,688,02 moro than tho sggrogato amount of capital horetoforo repro- sentod by companies which have ceased to do business in tho State. Tho total number now doing businoss is 118. A genoral nnd comprohensive viow of tho sggregato busincss of tho four years—1809 Lo 1872—showa tha iska written to amount to $20,485,153,708 aui thio cash promium recoipts during tho Asme tlme, to amount to 160,880,107.44 5 tho oggrogato nverngo promium rato Zeing 91 cents for overy 100 of xinks written, For 1869 and 1870, the rate i above the averago, being 97 fconts for 1809, and 04 conts for 1870, For 1871 and §872, tho rata 1s bolow tho average, bolg 89 conts for ‘oschi yoar. The nggregato averago ratlo of losss to piske wition for (b fouz yeary 18 68 conto on_tha $100, or 1800 and 1870, the Tatio §s bolow tho avorago, bein| 62 conts for 1669, And 60 cents for1870, For 1871 un 1872, th ratio is alovo thio avorage, bolng B4 cents for 2871, and 70 centn for 1873, Tho aggregnto nversgo izatio,of losses 1a$74.03 for overy$100 of cash promium irecelpts, Tho ratios of tho yoars 189 and 1870 aro bo. “Jow the avernge.—that of 1869 boing $36,17, aud that of 2870 belng $62.64, Tho tatios of tho yoara 1871 and 1872 aro avove tho nverago,—thnt of 1671 befng $04.43, ‘and that of 1872 belug $78.97, Tho nggregato avarngo aatio of total czpenditures to total incomo ehows that Jor tho fonr yeara tho companics expended $07.65 for wvory $100 of cash income. Tho business of 1809 ehows $50.36, aud of 1670, $02,60, expended for evar: 100 recoivod, whilo tho usinéss of 1671 shows $104.7J, snd of 1872 $103.24, cxponded for overy $10 aecolved, This shiowing, it must bo romom- dored, does mot includo tho very largo Tmouht of insuranca capital and assots of companies «ntirely destroyed by the two groat conflagrations oc- ‘curring in tho past two yoars, but that it only applica 20 tho companics continuing the business and meking Foports, Tho companies reporting bave, sinco their ‘organization, recoived $434,006,260,18 m promiums, nod [ Josacs to the amount .of $201,483,027.43, Thoy ave declared cash dividends to the amount of $49,714, 5,60, and stack dividends to the smount of 84,713, 10.47, Tho presont capltal stock of tho companica smounts to §6,119,620,60, The amount depoalted by H#hie companics In different States, o security for pol Hloy-lioldorn, 14 £0,125,387.60, ‘hosoven Iiinols companies rocelved cash pro- emiums nmounting to $601,000.74, They incurrod $152,~ 274,23 lows, _ Estimating oxpenscs nt $108,320,03, loaves ‘them a net proft of $309,774,68, Tho ninoty-fivo joint siock companlea of othor tats raccived $4,012,048.60 cash premiume, Thoy dncurred §1,005,301,92 Tosses, ~ Estimating oxpenos at %1,203,614,09, loaves them a ot profit of $1,718,071,08, ;Of theme companies, two show o not loss of $1,847.01, “Fhile ninety-threo havo o not profit of $1,714,013.60 Thio six wutual compauies receivod £504,110.18 cash romiums, They incurred $87,694.67 loascs, Lstimat~ ng oxponscs ot §91,413.03, leaves thom o not profit of £125,002.20, Of these compnuics, one has a net loss of 40,345.56, while five havo n net proft of $181,048,12, Tho cight United Statos braniches of forelgn compa- imien reccived $59,672.00 cash premiums, Thoy in- wurred $129,64167 losses, Estimnting cxpenses at $170,601,63, leavos thom n net profit of $289,528,89, Tho Lo forolgn companica Teceived $126,360.78 cash promfums, Thoy incurred $11,444,80 lossca, Estl. anoting oxponses at $38,608,23, ledves them o not profit ot $78,407.69, The’ grand sgaregato figures of the 118 companios whow $5,704,861.36 cuslh premiums rocoived, Thoy in- gurred $147,01745 losscs, Eatimating, expenson st 1,711,45881, lowves thom aigeet proft of $2,510,85,10. hreo of tho companics ahow o not loss of $9,108.77, .whilo 116 companics show o not profit of §2,624,678.87, Woaving the uet profit on tho business of all tio come * gpanios ot §2,510,385.10, as before stated, & INBOLVENT COMPANIES, m’l‘ho following is a list of insolvent compa~ slos: Tho Aurora Firo Insuranco Company, of Aurors, L, L. D, Brady, Aesiguce, has paid 25 por cont of ita “entiro indobtediess, and fsnow about to obtain its dis- charge from beukrupley, Tio Bloomlyyton Fifo Iusuranco Company, of toomingtan, IIL., which rotited from business Jan, 1, 871, nftor having roinsured its rieks in tho Merchantn Firo Tunurauco Company of Chicao, Lavo soltled all ‘claims ngainst it at GG conts on tho doflar, Tho_Chicago Firo Insurance Company, of Chicago, ©. K. Murphy, Assignee, haa not yet mado a dividond, Dut will probably pay 10 per cont In all, Tho Chicago Tiremen's Insuranco Company, of (Ohicago, O, I, Horlon, Aesignee, ias mado two divi~ iflonds,—ono of 4 per cont and snother of 170 yer weont,, and will shortly obtain its dischargo, Tho Commercial Tire Insuranco Company, of Chi- ago, Robert E, Jenking, Assignec, bas made o divie dond, Tuda Company” wil Trobably pay, iu all, 2 “por cent, “Tho Equitablo Firo Insuranco Gompany, of Ghieago, amea Long, Asslgneo, hius, as yet, poid no dividend, ut wiil pm‘)ahlf Doy trom & to’ iz ceut, !” Tho Garden City Fire Insuranco Company, of Chl ‘oago, which relusured iis risks in tho Gommiercial, of Ohicago, hns had no Arslgneo appointed, As yat the Company hne patd no dividond, but will probsbly pay #omo 10 per cent of th claims againat it, Tho Germania Firo Insuranco Company, of Ohfca~ 1o, William Vocko, Assignec, has mado two dividends, =m0 0f 2 and ona of 13¢ per cent, This Company will prolibly pay from 3 {03 por cant ddditional, . Tho Great Westorn Tiro Insuranco Company, of Chicago, O, W. Uplon, Assignee, hos paid no dividend, Buits havo been commenced sgainst the stockholdors, and it is probable tho Company will pay about 60 per gont of all claims, ‘The Homo Fire Insurance Company, of Chicago, Yrhomas, Buckley, Asslgues, bas divided 9 per centy ;‘nfl il probably divido from 310 6 per cent addi onal, v The Enickorbockor Firo Tnsurance Company, of Chis ot in bankruptey, and hua paid nothing, but uld be made to pay in full, Tho Lamor Firo Insurance Company, of Chleago, Geargo_Ohandlor, Tecelver, should pay ail claims In full, * Tho_sffaira of this Company wero placed n tho hiands of a Recelver, date not kiown. - A roport, as roquired by luw, Lad been called for, but, as yot, it fas not beon furnished, The Lumbermans Fira Insurance Gompany, of Clile «eago, T. 0. Hang, Asslguce, paid 5 per cent hefore go- Inig intg bonkruply, mid vill pay 90 to 40 yor cont ad- onal, Tho Aforchants’ Firo Insuranco Company, of Chi- £ago, Willlam E, Xollo, Assiguec, hos pald two divie wonds; one of 4 per cent and ono of 3 por cont of 4ts clafms, Tt will probably pay 2 per cont aditional, Tho_Mutun] Sccurity Fire Company, of Chicago, @fark Kimball, Assignee, hoa paid 7 par cont, and will ‘pay from 7 to 10 por cont additional. % Tho Ronper City Firo Insurance Company, of Rock- ord, Til,, relnsurod fu the Republio Firo, of Chicagy fore *'tho fire.” ‘The Ropubllo will pay tho lossea ot thie Ronper Clty in full. .. Tha Ropublio Mre Insuranco Gompany, of Chicago, . B, Payaon, Assigneo, has pald over 75 per cent of its ndobtodnees, and will ay ils losses fn full, This opany Und slrcady patd over 42,600,000, Tho Stata Fira Tus of Chieago, formau C. Perking, Asslgnee, will pay fn full all who avonot soltled tholr claiime, 1 Liavo lntely boon advisod that tho Winnesholk Firo Insuranco Gompany, of Freoport, I, (uswo of n- . wignea not ascertained) has some'$3,000to pay some - $175,000 indebtodnesa, I caunot rely npon the above Baformation fusnlutod f regard {0 wild Comapany, aud \would ndviso others to placo no ralisnco upon tho + statement, In tho caso of the Tilinois Mutusl Insurance Com- any, of Alton, Ill,, a petition for a decres in bank- upicy was filed in tho United States District Court for Boutliorn Iliinols, on tho Ttk of October, 1872, No ad- . ualeation—enso contluuad. Tbln 14 tho thIrd tion *4n tho case of thin Company, 8 docrea in elther of tho - ormer two having been refuied Ly the Court, T hwve + endeavored to ascertaln the probable amount which $his Company should pay, but Lavo failed to obtain ‘Sho Informatlon, ‘T Bangamo' Insuranco Company, of Springflold, s woinaured {ta risk in tho Merchunts', of Ohicago, ‘Tho “AMerchants’ will_prabably pay 8 per’ cent of ita losac, \No proceedings Jiave buen commencod againet tho Ba £gEumo, 60 far s 1 am advisod, It should pay all ita lia- B tan, BTATEMENTA OF YOREIGN COMPANTES, Tho attention of \the General Assemnbly 16 rospoct- +fully yot earnestly riquonted to the requirément of the ot of March 11, 1869, i regard to tho time fized for - Forolgn Insuratico companion to make thelr auuual + tatoments, It ronds os Lollown ¢ BEC. — * * ¥ Forolgn Inaurance ca o rouirod to mau w1 el neaal Sttaragats mnd avidonces on the frat day of January in oach year, or verithin thirty days theroaftor, made out for the yoar ond- * ing on the preoediug Sth ul Hoptombor, Tha supplo- 01 ur(lnnull ontal l)zful: of thelr Lusluoss and alfules in nftod Btatos, duly verilicd and cortliled to by (he ont managor of such company, ehall Lo filed In the month of Januuy of each year, fuada out for tha yoar ::fl;\; on tho Jlat day of Uysembor immodistoly pro- At i dato o Ul eport bt ono einglo forelgn com- - pany has complied with the roquiremisnt of making Annual statemont for tho yeat anding S0th Hoplomber, : 1872.% Tho Wostorn Assiiranco Company, of Woronto, Oanada, Las mado its aunual statoment 'the saino ak .+’ pompaniioa of tho Unitod Btates, for tho year ouding ¥ Dho Liverpool and London and Qlobo, the Hamburg. + Promoe, and the Canmorolal Unjon lusurance Companios . avo sbic tlod. *ilomo uteo " statomonts, —tho irst amod for tho yoar viding Sopt, 80, 1873, and tho othior +-wonamed for the your ondlag Lyo, 3L, 16730 . suranco Company, \lod, ue woll e proforrat, to urpose of obiaininj 4D “) THIS GHICAGO DAILY TRIBUNE: THURSDAY, MAY 8, (873 . Decomber 81, 1872, Thia being threo months lator in- formation in'regard to the buainesa and afiairs of the company than requirad by law, it s nccopted and tomont. for_tho yesr ing Bopt, 30, precoding, "Tho. roprenontativen of Trilish companios in this country _claim hat it in not practicablo for thoir omo-offices to compy with 1o raguiroment of thio Tiltnols law, owing to tho impossibility of said come panien obtalning returns from tholr sgenciea in varis Sun forelgn Governmonts, in.which they aro dobny businoas, In timo to male o statomont of thotr busl. ness and nffalrs {n four montha from the 30th Septom- Tior, T muggest that tho 30th of Juuo bo substituied in e law jn 1he pinco of 50th of Saptembar, or, prabebly Dotter, that tho 81st of Decomber ba so subatituted,— ho atatoments to bo flod on ot ofore thp et of Jiily following, 1€ to Lo Ittor date,auy mich fofelgn som: pany not aving o branch ofiico in’ this country, or Whono statement could not o_filed by tho 1at Janu. ary, ahould bo ruquirad-to Luvo (ho condition and business of its sgveral .agencles in tho Unitod Statea roported Lo somo ono of its ngoncles, for the yenr ond- ing Dee, 1, such agency Lelug requlred o maka and 116 » statornent thoroof on or beforo tho Sist of January following, s ‘Unloss soma such clisngs Is mado by (he gonaral As- sombly, this Departmont will, with considerablo roluc- tanco, ool In duty bound to. enforeo tho law aa it now stands, 1t mey bo woll tosay to you and the General ‘Assombly, that fho probablo result .of this nction will o thie rotiromont from our Stato of uoarly all, if not all of the Euglish_companics, unless thoy atioufd con- cludo to furnfsel siatemonts of their business, na pro- sonted by their Looks on the 30th of Efi]llom‘mr, A quostion (it involves tho probablo loas to our cliizons Of facilitica for insuranco with & ciass of companies in which they havo undoubted confidonco, Is_worthy of serlous considoration by tho Gonoral Assombly. ; Socurities aro now held in this depdtment for tho protectjonof poli yholders, amounts ns foliows for compauics, and in ourvg sy - ooy b armo( PiO. Sonsa, (ddisypsiig ouey POUTINGSY WINTL e A L Tx e omey o1 URNE-SMqTT “Auvdwo) fo oy “uotyoa07 WHLNS fo pury 12073 fo_amna_avg ~abobraous fo unotun o0 It moy not bo inappropriate at thia time, during pending legislntion on tho subfuct, to discuss tho uestion o o tho soundnoss of tho principle of taza- tlon’ which taxes or proposca to tax tho premium 7o cefpts of insurance companies as a property. Fifeat—Aro, premium roccipta tazable properts s xed by On tho subject of ralaing taxes on proporty by valu- ation, Sco. 1, Art. 9, of tho Constitullon, ro- quircs tho Garcral Asacmbly to provido tho necéssary roventie * by lovylug o tax, by valuation, 8o that overy orson nnd corporation will pay & tax in proportion to o valuo of his, hor or ita proporty,” Troperty is dofined to be * an catate—whother in lands, goods, or monoy ; tho thing owned ; that to which o poraon hins tho-legal titlo, whother in posscs- slon or not.” Inmy opiaion !premium recoipls” are nota pro erty In tho light and_ moaning of tho word, as used in 1 Constitution, butalmply a busincss name, usod to deslgnate tho smount. of monoy derivod or {0 Lo do~ rived by tho Company in its busluess, tho samo a8 tho word “ anloa” apply 10 tho monoy rocoived or 0 bo ro- celved by the merchant or manufacturer for morchan- dise or manufactured articles gold ; or a8 tho words componsation, wagos, salarics, fces, incomo, rovenue, nnd many other = worde, oach ' of which apply and havo’ their poculiar tolation to money. Tho ward ¢ receipta " may bo sppropristely applied in aach cano named, and thorefora used fn designoting tho monoy reeelvod from sales or othor sources, or for services, Wo attach avaluoto “recuipts” only when tho wotd 48 used instond of the propor or common Boms of {ho properly to whicl thoy aprly. Tho nsmo #reccipta” 18 o genaral term, used in roferenco to tho reault of busiuces, rather ‘than for deslguoting 1o namo of 6 property. Property is tho result of ro- colpts, which property hias & common namo—rmoney, Whin' the monoy ia acquired, absolutely nothing of valuo 1 left for rocelpta, Tho'proporties of *recelpta expire, dic, apon tho dalivory of tho ostato to tho owner orhis agent, and aro thereaftor known s “lands, §00d5, oF mOneY,” ak tho cago may be. Tho_premium rocelpts of o fusuranco company amount to $10,000 In moncy, which amount wo wiil as- sume_romalnod in tho huds of A B,ngent, on the first doy of Moy, Having tho $10,000 o thut 'day hu muat pay o fax thereon, Upon what kind of property must o pay:tho taz, sud upon what amount 7_1f pro- nfum receipts aro property, the agont should Nt £10,~ 000 thorefor, Monoy, all admit to bo proporty ; horco #nid agent abould list 310,000 in monoy. Tho latter— mouoy—i3 50 poullivo proporty, that aven tho Gsn- oral Asscmbly, tho ouly law-muking power in our Blate, cannol ozempt it from taxation. Whon the ‘monay is listad, the “premfum roceita” ara loft with- out valio, 1 iy bavo no value, tioy cannot: bo 3 propetty, aa contomplated by that'word (property) a8 awed in ‘our Constitution. In tho cago atatod, tho sgent'hind promium receipts of tho Company aud ho had the mouey ; but when wa spesk of fhiem s o property, oue~thio promium roceipti—is a fictian ; tho other—ioney—is tho realiy, oF property, The sgont should list the property for tazation, and not tho fic- ton, Second—Tt i Aosirable to mousnro tho amount of ‘monoy acquired durlni s certain period of time, by taking tho recolpta of & businces, for such timo, for thio & taxablo valuation. this prineiplo sliould bo adopted with respoct to ono class of business, it must bo adopted for all classes of business, 1f wo tax ono person or corporation whoso business 1a confined to receipt of monoy quly onalltho mnonoy rocelved by Nim orit, during thy yesr womust tax all otlor personn aud dorporations aving slntlar rocolps, wlihout regard {o llo busincas cartied on, Furtlior, if tho principlo holds good, to Do consiatént wo inust roquiro all other porsons and corporations to pay o tax on all tho horaes, cattle, ‘merchandiso, manufactured articics, notos, bonds, &o., recolved by’ thom during the ycar, To ndopt tbia princlple for obtaining or arriving st tho quantity of proporty to bo taxed by valuation, for ono clss of por- sons or corporations, would conipe] the sama principlo to Lo adopted for obtaininy uantity of property of all clasees of persous and corporitions, g0 (to usg tho words of tho constitution)-that coch persou oud corporation shall pay o tax In portion to tho value of hig, hor, o ita property It must bo plain thaf the manner and timo for ob- taiuiug valuations {or {zablo puzposcs, to Lo uniforam, should bo l\‘l'lplln‘-\h]! to all llrumflflo : 3 Another difliculty miet ariso whon wo attompt to valuo and tax receipts of insurance companies oy props erty, 1f we adinit for the purpoge of argument, that thopower is veated in tho Gemeral Assembly to do~ clora recolpts 1o 1o a property for tho purposo of taxs. tion, it ahould Lo plajn that the recelptaof one person or corporation cannot bo declured ich,and tho receipte of athiors held not to boso, If Tocelpts are leld to ba proporty, the declaration must bo geueral in ita appli- cation, A law whick declared tho Tecoipts of insur- anco companica taxable property, would bo fovalid, unlosa it appifed equally to the Toceipts of bankera, morchants, manufacturers, farmors, various profos. slons, oficors, and employea, 1 idvo ondeavorad, ths far, to show tlat recoipts witliout legislation, dro not. property subjact 1o taxas tlon by valuation; that in order to g0 tax_them, legla~ Iation muut bo lind, dsclaring tliom » taxablo prperty ¢ that when such doclaration {u made, it must be geuer: and not spocial in its application. Third—1a tho taxativn of tha premfum rocelpts of insuranco companios on the amount recoived during 1ho yoar advisablo as & prinoiplo of taxation in this State, evon if constitutional? In this State, our principle of taxation is fixed by tho Constitution, and 1s, theroforo, not a_dabatablo queation, All réal and personsl property Is lisblo to taxation, Real property prosents itsulf to the plain view of tho Asdessor, aud, thieroforo, canniob avoid sa. nossmont, Tho improvemonts o euch proporty, belng included fn the value theraof, 1y, to & considor- ablo extent, fusurablo property, 'That portion of por- ual property whiol s fnsurablo, fs tougible, and vory acldom eacapas tho viow of thio Asacesor, It is, thore- foro, Bafo to nssume that tho property covered by ine surunco 1s of n clasa which does ot escapo tazation, belng visiblo property, once, i & uniform rate of tax, sy 3 per cent, us bas boen proposed, ehould bo placed upen tho unfuual recefpla of all conntautes dofng usiness in this Btate, it will_compel such conipanics 10 0dd the amount of wuch tox to their chargo for fu- surance, ‘Tho plaln ofivet of this would boto cause ownors of {hat cluse of proporty in this Btato, alrady aying cortaluly not lew {heuta just proportion of tes, 1o pay. (s additional fax, togother wit tho expeniso at{endant upon such Indifoct colleotion, and, prguatiy, o surplueayototlio companice o tho Litory, [u this country, of adding tho intornsl tuxes to tho rica charged the consumur, s, that from two to throo imcs tho_ aniount thercof wak added and collocted, Thero fi also a further objection ta this principlo, 1t makes that portion of tha virlble praporty of the Biate, whoro ownora cloct to guard sgainst ontiro lass or destruction of this property, Ly a muall s Invt- ment, pay s grenter yorify of axsilon tian even ofhior'slmflar tungible property, whoso ownory aro ot thus provident, Fourth—Is iho taxation of the annnal rocelpts of jnsuranco companios, and not of otlior peraous and corportions, au vuilablo tax, reyardloss s to what mny bo tio anawi Lo the prcoing propositions? 1t wo admit that tho lsw-making power of n Blate may onnct that ¢ recolpta ehall bo dcomed a laxablo Jroperty, does 1t 1ot follow that the prineiplo must b of ganordd and not of wpodil apyliention fux i to lio Just, muat bo applicable alika to all persons aud cur;m-\lnnl coming under thelr provisions, ‘Whon wo admit that it is logitimate to tax tho annust contemplated” by tho Coustitution, to valuation? rocolpts of insuranco businers, wo must ndmit ‘that 1t in cqually Tegilimato to tax tho nnnual cecelpis of overy otlior Kiitd of buslucss, npplying the aapio rules for obtaining valu aliko to nli. gf preminm receipta aro proporty, ara not othor rocolpi tho samo?. Would £ 0ot bo an Inaxplicablo Taw wilel would tax tho ro- celpts of oo claad of buainorr, and yermlt anothor class to go untaxed, whon ench’bove invesiments of capital In an oqually honorable and legitimato busi- nesa? Icanuotconcelve how any other thanan af- firnativo anmwer cau, I cquity, bo mado to elilor of theso propoeltions, : Whereln do tho rocelpta of various kinda of buals neas, professions, aud accupatfonn diffor, it tharo bo o diffrenco? Tl luwuranco compauy soils Msuranc tho farmor, bis grain ond other produco; the wmer- cliant aud manufacturer, tholr goods and wares ; tho banker, his monoy and okchiango { caoh oblalufng re- colpts by thalr salos, 08 alno doos tho Iawyer, dactor, farmon, *incebianic,’ Inborer, oftcer, and oiuploycs for tholr sorvioen, 'In nelthor cano 141t probablo tha tho Tecolpts aro ail profits, and probably loss 8o i the caso of insuranco than that of auy_ othor bLueiness, profession, or_occupntion emed. Yol wili tusuz: anco, 08 with any otlior business ot occupation, it mny provs profiablo by einglo companioe, ot coligctivoly but 1iko othor Luainess, it I cqually fiable to loss au 10 closo thio your'a busirioss with 1o profit, Ts thiore any tanglblo reason why promium receipls obtained in a Biato other thau tho Stato In which the company I# locatod, are #0 different from ko recolpts of other corporations or porsons, thua obiained, as to requiro taxation In mnch othor State? Tako our Weatern farmors or cattle-dealora : would thoy deem 1 an oquitnblolaw which wonld requiro thein (0 pay,ay, B per cont tx in Kow York or other Tastern markot, on thoir recalpta, derivad from tho salca of thole cat: 4o nnd graiu In Such market, aftor Lisving bon taxed 8t tholr residonco an auol caftlo snd grain, or liablo theroto on the amount of money derived from such snlo? T thore any renson why taxatlon fs equitablo In ono caso and not in tho other ? If thoro fe, I fail to comprehond it, Tho farmor or dealor, by tlicir anlcs, may have met wiih loss in thefr businose, requiring them to pay such losa from their accumulated prop- orty. Regardiess of such loss, they wore taxed whero thetr projierty wos nold on the smount of thelr re- ceipte, This's apt to be the resnlt to insuranco come paslies of s law et {n3cs premium ressipls se o roparty. Iusuranco compnales of thia State, a5 wall a8 thoso of otior Stales, pay lax. on all thelé property ot tho place whero tho company I8 located, Moro than thls should not bo required of them, or of any other corpo~ ration or person, With what favor would the prope- aition b recelvod by the pooplo of tuly State, to tax the smount of money recolvad by evgey parmon durlog {ho yoar, without rogard as to (ho disnosition or in- veatment mado of it or of tho amount which cach por. son paid out in Lis busincss or occupation, during anid timo1 Yot add to this tho proposition that {his shall Do dono in addition to tho tax lovied on tholr real and personal property, and wo have the result and equity 1o insuranco companies of tho proposed principlo of taxing their receipts in addition to the tax which thoy liavo to pay on their proporty. 1f 81l tangtblo property, realand personal, was ox- cmpted from taxation, snd s principle adopted for raising rovenuo (hat would only {ax rocoipts, thero might bo somo argument mado in it favor, It would simiply bo adopting tho principloof & tariT for State and Jocal tazatlon, When wo desire {ho consumer— regardless of Lie wealth or the amount of his proper i {y—lo pay all taxes, it will thon bo tlme to adopt the prineiplo of taxing recelpts instend of property, Ta tax both {bo proporty and recofpts of ono class of persons or corporations,. and only tho property of otliors, 18 & proposition Which_should bo ropugnant to an honorablo people, and I cannot sco how it can boon- tertained on o Just principlo Ly any leglslator who Lna given the subject proper reficction, tlifs rosult bo obtained by fio laws of difforont Staies, {lio injustico ‘would be with the Javis of the State whivh taxed tho flction—tho recelptn crronconsly called property, Tho grand agyrogato mmouut recclyed by tho 16 fn- Bsuranco companics appearing in tho tabulations of this roport, s $04,804,55280 during tho sear 1872, Tho 'grand aggregato of fhelr losses iu- curred aud oxpensca during eald year s £00,043,000.01, thus . sbowlng $4,830,07L11 miore incurrod fof lossca ‘and cxpenecs thon ihoy re- colved from promiuma nud ofler sources. Said com- panfes havo a grand oggregato of nsscts, of $97,870,- 06631 on which they pay taxes in thefr respoctiva Blates or govornmenta, ~ Now, in thero any principto of ustico Lo austain tho lawa which would yet furthor tax hem on tho $04,804,682.80 received during tho year, when it {a shown {hat they havo pald, or will bave o pay, all of sald sum for losscs and cxpenscs, snd §4,- 839,071,11 in addltion therelo 7 ; As an oxcuso for taxing tho premlum recelpts of In- euranco companios, it ia assortod that they withdraw money from tho Stato, In caso of sono companles, and fomo years iu the aggregato of companicn, 1liis may bo trug, but not always 8o, and no moro so than it fa with othot kinds of busluess. It has uot proven truc In tnis Btato, taking tho aggregate businces of tho last four years, the only years for which wo havo o rocord, The businoss of four yeara sbows that tho sum of $20,847,416,70-hins been paid to fire and marino insur- -anco_companica: that during ssid timo such compa. nies have paid $03,828,242.71 to tho owners of property in this State, being $43,480,827 mora than has been taken out of the Btato or pald to companics located in thig Stato, g As_thero §s no equity In tho principlo of tazation that would tax the receipts of insurauco componies, it would scom thnt tho proposition g0 to do fs founded solely on tho theory {hat such compnnics aro produce tivoof injury to tho fusured, rather than protection, I this b true, tho grand figuires of relief furnished to the property-liolders in thia State by such companiea during tho past four yoars, in comparlson with tho smount paid therefor, should be the only apswor of i« linols to such o theory, "o whola thieory of faxation of receipts, when tho proporty of the persoh or company s faxod in its proper {ocality, is based on wrong promfecs, sud there- oro should not La found in tho codo of laws designed 10 bo oquitablo and just to n)i persons and corpora- tions to which auch codo moy apply, I have not considered tho question. of tazation of theraceipts of life {nsurance compauies, for tho reason that, ne it in 4o gonerally admitted thab such taxatfon 18 crroneous, argumont in regard therelo would bo superfluous, O, 1. LippincorT, Auditer Public Accounts, pe e e AR TS A CHICAGO MUSICAL JUBILEE. It Will Como Off the First Week in June==Gilmore Will Conduct the Concerts, which will be Given in the Grent Rock Xsland Depots Tho proparations for sowme time in discussion for tho grand jubiloo concert in tho now depot of tho Michigan Southern and Rock Island Rail- rouds, are now completed, and all the arrange- ments have beon made forthe first week in June, The musical partof the programme will bo under the londership of no less a personago than tho great I, 8, Gilmore, whoso success at the Boston Jubileo has mado him famous through- out tho civilized world. Howill bo alded by from 200 to 300 performers. Tho depot structuro, which has an aron of G00x200 foob, will accoms modato fully 40,000 poreons, It will be comfort- ably seatod, and docorated as bacomos the occa- sion, and, with lunch-room, press-room, and otlier comfortablo apartmonts, will give oll the foatures of n grand {ubiluu building. Tho Committes will oxtond their invitations to the Govornors of tho Northwestorn Statos to be thoir guests at tho Grand Pacific ITotel during tho festival weok, - ' On Tucsday ovoning an informal recophion will bo given by tho rosident musical talent of the city to P. 8. Gilmore, at the Paciflc Hotel, in chargo of Mr. George W. Lyon ss Chairman of tho Musical Committes and General Mauager of tho jubiloo concorts. Theo fostivities will commence with a recoption atthe Paciflo, on Wednesday ovening, (o tho distinguished guests from abrozd. 'The two grand concorts will tako on Thureday afterncon and ovoning, with Gilmoro in charge. On Fri- day aftornoon, by arrangemonts alrondy mado with thie Board of Education, the children of tho public echools of Dhicnqn will bo given a grand concort with a short, brl itfant programmo, at 26 conts admission. Ou Friday ovening, the grand opening ball will take placo at the Pacifle, for which two thousand tickets will bo issucd by a committee of managers of fifty gentlomen of Chicago and other cities, Qilmore to furnish tho music, aud Gaskell, of tho Paolfc, the supper, whish will o s uploddid air. On Saturday, Lincoln Park will bo visited by the distingulshed guests from abroad, Thore will also bo stenmboat oxcursions, and other at- tractiona for both tho closing days of the weok, Ixcursion ratos are boiug secured, and are in nenly all casos concoded on all the linos enter- ing the city from Buffalo, Cincinnati, 8. Louis, Omaha, and 8t. Paul. Admission to the concorls has boen fixed at §1, oxcopt that to tho school childron on Friday aftornoo —_——— THE NORTHWESTERN PRESS. Tho Northwostorn Press Associntion held their annual meoting in tho club-roomof tho Bhor- man Houso yestordny, Tho firet session com- menced at noon, Liout. A, D. Balcombs, of the Omnha Republican, oceupying the Obair, There ‘wero prosent 0. N. Wheoler, Burlington Hawk- Eye ; 'L, P, Traynor, Counetl Bluffs Nonpareil ; . M, Richardson, J. H, White, Davenport Ga-~ zette ; J. B, Olarkson, DosMoines Regisler; D. D. W. Carver, Dnbulglo Herald ; 3. Rleh, Du- buque Times; 8, M. Clark, Keokuk Gafe City ; . A\mr{ Kookuk Conslitution ; L. Richardson, Omaha Zerald ; T, P. Cadagan, Quincy Herald Paul Bolby, Quincy Whig; L. M, Havoratick, Tock Tslnd Union ; E. L, Morritt, Bpriugfluld Tegisler ; D, L, Phillips, Springfold Journal, Tho Prosidont mado a report on the financial condition of the Assaclation: Thore were on band April 1, 1872, §£118.98; on hand April 1, 1879, 1,004,683, after payin : all oxponsos, Irom finpam outsido tho Association, $1,602.60 had oan rocelved. On motion, tho Assaclstion papers that did not take the dlspatches woro erased from the list of membors, I'ho Prosident statod that tho contract with tho Westorn Union 'l'elagraph Company and tho Wostorn Associatod Press torminated May 6. A discussion thon took Bllcu s to what ahould bo done, _CGen, Btager, Buporintondent of the Woestorn Union Company, it was stated, had oconversod with overnl mombera of tho Assocl- ation and givon his views. ‘Tho * viows" were commented u\mn by tho gentlemon who had conversod with Gon, Slager, and thoy were cou- sidored unjust and unfair, The dobate occu- pled noarly two Liours ; aud, finslly, & commmitioo was appointod to walt upon Gen, Stager, Hon. Tosoph Medill, Prosident, and Willism Honry Smuth, Mnnagor of tho Weatern Assoclated Troos, and roquest thom to attend tho meeting and malo propositions. Tho Associntion thon ndjourned until half- past 7 o'cloolk fn tho evening, Tho ovening sestlon wns dovotod to a long discussion of tho righ{ of tho telograph com- pany Lo uao tho Association’s messagey withoub o considoration, . Col.. Wilson, of tho Westorn Union, and Will- inm Honry 8mith, agout of tho Westorn Asso- ciated Pros, wero prosont, No concluglon wns roached, and tho meoting adjourned until this morning, when Gon, Blager will sunounce tho doolslon of tho {olograph compnuy {n the matter. ot THE 11 0'CLOCK ORDINANCE. Superintendent Washburn's Proposcdt Order to tho Pollcoe Rogarding Ats Enforcemonts Buporintendent Washburn was busily propar- ing Goneral Order No. 21, yostorday afternoon, ordering pntrolmen to entor anloons froquently after 11 o'clock, and watoh whothor liquor was dispensed after that hour, dirooting them to so- auro the namos of offendors and witnessos, and, should they be refractory, to arrest thom prompt- ly. Tho order, which 18 glven below, will bo enbmitted to tho Board to-day, and go Into of- foct, if pproved, to-night : % General Order No, 21: First—Upon recelpt of this order the force will put in execution the ordinance “ providing for the closing of salgons at 11 o'clock p, m, each day,” and found on pogo 103 Council praceadings for the current year, . Second—The words * night timo ” eccurring In sald ordinanco, aro construcd to mean during tho hours whioh it §5 necossary to use artificial Jight in the trans. sctlon of businoss, ‘Third—Whenever any poraon ahall bo found selling or glving away, or in any maunor dealing in_nny vin. ous, spitituous, ardent, intozicating, or fermeutod Jiquors, In violation of sald ordinanco, it will bo tho auty of the officor discoveriug or lentaing of such vio- Intion to nrrest such poraon forthwith, Fourth—Attention is heroby diroctod to tho provis- fon of Boc. 3, Obap, &0, of tha Rovisod Ordinances of 1873, whbich rolato to the posting of lcouses for tho Eslo of liquors ; and = rigld oxocution of tho samo cn- Joined upon al mombers of tho forco, ELMER WASTDURN, General Suporintendent of Tulice, The Art Sale at.Central Hall. Tho most important salo of ofl-paintings wo Livo ovor witnossod 1n this ity commenced at Coutral Hall, cornor Wabash avenue and Twonty-second streot, yesterday, and wo aro much pleassd to sfato that our citlzons can duly appreolato i good_collection of artis- tio pletures, Tho attendanco was largo and apirited ; tho pricos ranged vory low, notwithetanding, This afternoon, st 2 o'clock, tho Ealo will ba rosumed, and Aho closing salo will {sko placo fn tho voning, at 8 o'clock, Heeing that somo of tho beat picturos of tho colloction aro yet undlaposed of, & sl larger attond- anco I3 oxpoctad at tho closing salos, Remembor, Con= tral Ifall, corner Wabash svenuo and Twenty-socond atroct, MARKETS BY TELEGRAPH. New Yorik Financial News.: New Yonx, Moy 7.—Tho supply of losnablo fands 1a steadily iicreasing, and tho monoy market scoms sottlod into an casy condition for tho spring and sum- mer months, - Currency is atill flowing herc, and tho Lanks aro discounting frooly, s well a offering in- crossnd amounts of monoy on call to tho brokers, -Tho raten wero to-dny G@T por cent on call, and 1@0 for primo diacounts, Ontatanding legal-toridora have de- creased $164,000, The advanco fn Dank of England rato of interest was oxpeated, and hnd no marked offect, ferling won dull and heavy at 103% @108 for sixty aays, and 100X @103 for sight. 0ld was dill snd ateady at 117X @11TY, closing at UTY@1T%. Lous, 2@1 por cent. = Clearings, ,000,000, Treasury disbursomonts, $380,000, for intércst, Cusfoms rocotpts, $350,000. Goverments woro a trifla bettor snd firm. Btato bonds dull, and Tounessces very atrong. Tialiway bonds ato In fncressod demand, Btocku woro loss, and “tho changos smaller than on geatordny, Tho market was rather foverish, and aiter- nately wehlkand strong, closing wesk, Tho chief fiuc- tuntlons wore in Conion, which.rose from 102@105%, Tacifio Mall, 535, 83, 633, 63i ; Western Unlon, 68, 1M, 813, 8735 Bt. Paul, 575, 867, 6033 0. 0. & 1. .y 3532, H03¢, 853 ; Rock Taland, 110x, 111, 1103 ; Ollios, 433, 443, 433¢ ; Wabash, 70, 603, 6934, 0% § IHarlom, 196, 127, 120%. Tho changeain tho restof o Tt worb only x(@iy por sont, The evenings of {ho Lako Shoro Rallroad for 1972 ware $17,591,029, an increaun of §2,703,054 ovor 1871, Tho earninga of tho Burlington, Cedaf Tapids, & Minnsacta Compruy for ‘April wore §77,380 agalnat $64,681 for April of laat yoar, Sterliug, 1083, : - COVERNNENT BONDA, L121% GCottpons, 181, 5-308 of 03 . Coupons, '64 Coupous, '63 . 3 (e Virginiss, ol Tennounces, old. North Garoll Tennoasees, now. Virginiag, tow Torra Haute pfd, Chicago & Alto 10y Chicago & Alton pfd.111x¢ Ohio & Missiseippl.. 433 On United Smlu:vEx Pacifio Mail..oooien Neow York Central, 11 Unlon Paciflo stocks. 323 Union Pacifio bonds. Bk Centrat Pacific bonde.10345 Dol Lack, & Western,102 B, H., & Erlo..eres 3 Northwestorn. ... . Northwostern pid;, Rockflsland. . N. J. Central, 81, Paul,.., 58% Forolgn Mnrkete. LonpoN, May 7.—The rate of discount fn the Bank of England has advancoed 1§ per cent, snd fs now 4. LIVERPOOL, May 711 &, m,~Flour, 278 6d. Wheat— ‘Winter, 12a2d; spring, 116@12s 21 ; white, 113 04 @116:10a; club, 12s,' Corn, 218 0d, Pork, 699, Tard, 40a, LavERPOOL, May 7—1:30 p. m.—Market unchanged, LoNpox, Moy 7—5 R Tha=Congals, money, 931§ account, 033¢ ; 6-206 of 05, 923 ; do of '67, 04 ; 10-40s, BUX{ ; nOW b4, 8057 ; Erlo, 603, FRANKFOWT, May'T,—8-08 Of '63, 9574, Pans, May 7.—Itontos, 54 francs 32 centimos., Livervoot, May 7.—Cotion quiet; middling up- 1and, 824@9d; Orieans, 05, @9%d, 8ales, 10,000 balea; Amorican, 6,000; speoulation and export, 2,000, Breadstuffs quiot and unchanged, All tha'rest un~ unchanged. Buffale Live-Stock Market, BursaLo, My T.~CATTLE—To-day, including 18 cara to nrrivo, 680 ; total for week, 0,098, Markot vory unentisfactory, notwithetanding lLicavy anles at yeater- daya prices. ” Rogular busers as » gonoral (i sro holding off, bolug afrald, on acoount of tho broake down in tho Esstorn markots, to pay tho prices asked by owners and holders, Country buyers are doing nearly ull the purchasiug., About 1,600 wero dlaposed of. Sales: 773 Illinols steers, av 1,005 to 1,330 1be, at $5.40@0,25; 37 Ohio atoers, ‘av 1,103 to 1,360 Ibs $5,60@@0.472¢ 3 218 Miasouri atscrs, av 1,087 01,5623 Iba, at #4606 !l‘lx; 42 Missouri oxen, 8v 1,402 at 95.25; 53 Toxns _stoors, &v 1,108 to 1,203 1bs, ‘at' $4.25@4.75; 180 Towa slcers, av 1,044 to 1,240 b, ot $5.40@5.70; 17 Kansna atecru, 1,320 1bs, nt $0.123¢ : 16 Michigan stcors, 1,180 Ius, at $5.76 ¢ 22" Michigan 'stockors, 884 Ibs, ot §5,25; 21 Canada stockers, 809 1w, ot $5,25, Burer Anp Lavpi—To-ay, 8,800, Total for tho week, 8,400, Tho market opoiiod Active at &0 advance on last wock's closing prices, Salea—1,004 Ohlo clipped shoop, 78 to 101 lus, $4.76@5.02% ; 1,401 TNl nols wooled &heep, 105 13, 84,76 ; $29 Hillnois 'wooled, 91 the, at $0,60, Hads—To-day, fncluding tho reported arrivals, 1,200, “Total for tho weok, 16,300, Market dragging st §6.25 .00, tho last diurad for cloico lota, Sales—3,Gsi uofa hioge, 160 and 212 1bs, 8t $5.25@5.55, g Nusv ¥orlk Dry Goods NMnrkata New Yon, May 7.—Tho munufscturors’ sgenta wora quict to-jny, and tho jobbors were moderately ac. fivo, Cotloif yylag aro siendy st tho latoly reducod prices, _Orlontal: Wauhington, Durnall, aud Bristol rints aro regucod e, Bomorict grintd aro sollng at to closo aut productlon. Colored cottons ara steady and active, 'Tho beat makes of glngliama aro firm, but low grades rulo ircogular, Corsot Jeans aro quiot, and somo brands lower, - Woolons and shawla aro fnactivo, Tho nuction roomd aro eolling largo-lots of ribbons, drosn goods, silke, and laces at fow prices, Tho Produce Markots, NEW YORK, New Yonx, May 7.—Corzos—in modoralo request ; middling upland, 193¢, Luzansurrs--Flour quiet and unchanged; receipty, 10,000 brls, Byo tlour in good domand at §4,10@0.0, Gora mosl tonly, “Wheat biglior';s olforings modorate rocelpts, 81,000 bu; Minnosots pring, afloat, $1.65} No. 2 Milwaukeo, 'In_store, $1.07; ambor Waatern, $2.04; whito Californin, $3.20, Itye quiot; Woatern, e, ‘Datloy quiot; Oadada, 1,18 Mall quist: two owed Blate, 81,000 Corn in moderato domand ; ro- ceipts, 34,000 bu ; * old Westorn mixud, in storo, '070; new, afloat, U7X @00 yellaw, CBK@0JC, Onts Ligher, with falr donga2d ; rocefpls, 50,000 bu j new mix Weatorn, 60GDI¢; whito, 50@5407 blaok, 48@300. Covis Bren—8teady ot 85@E)c; tmothy firm at 50, Eoas—In falr domand ; Wostorn, 14X @16c, Hav—Steosdy, llors—Duli and unchangod, Gnooznrxs—Coffaa strong; R0, 11%@19%0, Bugar quiot and firm; fair to good rofuing, 17@8!o, Ho- Thasea ouador ; Muscovado, 8040, Mice steady st TX@ A ienareoae—0rudo, 10@10o; votnod, 20820k, Trovisons—Tork dull and heavy ; now moss, $18:25 @18,50 ; July, $18.60, Boof dull and unclianged, Gut meats firm g shouldors acarco, 7 1-16@75¢c ; middles stoady ;_sbort and long clear, 100, Lard dull aud hcavy { Wetorn stesm, 03 ; kottle, 93¢, Butien—Dull ; Western, 20@udo, Ciesk—Finn 3 19@16K0, Witsnuy—Flrmer : V1@01 550, NEW_ OHLEANS, New Onreans, May 7, —Duxanstupr—Tlour dull; XX, 90,45 good XXX, $7.23 ; chioico XXX, $7,25@8.00, Cor qut’s ixedy 80 ; white and “yollow, 66@870, Oaty, 2)%@“.‘0. Drau dull at 78 Iiy—Dull | primo, §29.00@25,00; chialca, $28.00, Provistons—Pork dull; held at $18.75, Dry ealt ‘moals acatco at 8o, 03¢e, 03¢c, Bacon dull and dopresacd at Bi(o, 10%o, 103Zc,” Ttamn firm at 18¢@160, Lard aulet ' refincd, 0i6c; ke 10X @103¢c, GnocenEa—8agnr duil ; common, 04@824e, gooil common, 7Tio; Rood fatr, TH@HMG, Molasos— Nothing dolig, ' Gaffeo—174o, 193¢, 105, Witiaiy—Dull; Westorn roctified, 850 Loulsiana, 0lo; Cinclnnati, 09¢, ¥ PHILADELPHIA, - PRILADELTIIA, My 7,—BneansTurrs—Flone ia fale domand at unchanged prices, Wheat activo for chioico guly 7od, 8108 ; amber, $2.00@2.05. 1iyo firm st 05, Gorn' in fair domand ; yollow, 800; mixed Western, 6lo. Onts modoratoly” sotivo; white, G1@G1K0; mixed, 46@40c. PrrroLeus—Orudo held at 14i0; rofined, 200, Wittauy—Steady ot 0do, DALTIMORE, BALTINOTE, May 7,—InEADATOPFS — Flour stendy and unchangod, Whent dull, Corn stesdy and firm ; mixed Westorn, 63@04c. - Onds firmor ; Westorn mized, 49@600 3 white, 51020, Tiyo quict aud unchanged, ProvisoNs—Quiot and firm; moea pork, 310,00, Witexev—Firmor at 030, BUFFALO, Durraro, May 7.—DBneAnsturrR—Flour stondy. Whoat—Noininal ; market_bare, . Corn qulel ; sales 6,800 bu No, Western st 63, Oats—No buyers ; of- fored at 48c, 0SWEGO, OswEao, May 7, —BreApaTurFa—Wheat quiet; No. 1 Milwaukeo, $1,08, Corn dull Western, €0c. Dar- ley unchanged, BT, LOUIS, 8r. Lous, May 7.—Lnzabsrorrs—Flonr dull and unchanged ; supor wintor, $4.50@5,00 ; extras, 15,008 5,75, Wheat—8Bpring advanced; No, 2, $1.24@1.25 ; £all dull and lowor ; No. 2 rod, $1.80 soiler biay, Corn quiot 3 No, 3, 870 on track 46¢ sacked ; mized white, Onts firm ;' No. 9, 34@3 )0 in clavator ; 800 sollor July. Darley quict; No. 2, 85@000, Ry quiot; No, 3. (8K, ; Wirtary—1Liighor at 88c, Provisions—Pork lower ; small Tots sold st $18,00, Bulk moats quict ; clear sidos at 0o, Bacon quiet and lower ; clear sides sold ecarly at 1040 ; closed atl 10c, Lard held out of the markel ; nominally ¢, Hoas—Quict ; $4,05@5,20, *CaTTLE—Quict and unchanged. MEMPHIS. Meuprts, May 7,—CoTtoN—Dull and lower ; good ordinary, 1603 low middling, 17c, BuzADiTUPFE—Flour quict and unchangod, Corn ncarco and firm st 60@020 in store, OMs Acarco nnd firm at 44@46c, Corn meal scarco at $2.60@2.65. Hay—Qulot at $18,00@20,00, A ProvisioNs—DBacon dull and & shade lowor ; #houl- dors, 8K @8)0 ; sideg T0ke, Detnorr, May T,—BREADSTUFFS—Flour quict and unclisnged, Whoat activo and Lighor ; oxtra, $2.02; No. 1, 31814 ; smbor $LT6. Cornsteady at 480, Oat, 400. Erziotire—To Osworo OLEY. 95¢c, ELAND, QrLxvELAND, Moy 7..-BReADsTUFFa—Wheat firm ; o, 1 zed, $1.17; No. 2, $1.05, Corn steady ot 61@52c. o, PETROLEUM—~TUnchangod ; standard white, 10X ; fig;al;{, 10}@20c, i amall way; Ohlo Btato teat, LOUISVILLE. LoutsvILLz, Mny T.—BREADSTUPFA—Flour—Extra family, §0,50, ' Wheatquiot, Corn stendy, Provistons—Quiet; mess pork, $18,35. Tiacon ons; stiouldors, 8o cloaz rib, 104/GI0X; clear, 10 packed. 'Bulk’ meats cany ; shoulders, 7TH@7A clenr rib, 03§ cloar, D%c, all looae. Lardl steady an firm ; plmio stosm, Do, i Wiirsxy—Jtighar'; 88@890 for Iron-bound, MILWAUKEE, MiLwivkRy, Moy 7.—BneApsturrs—Flour quiet and unchanged, Wheat quict and weaks Nol, §1.364 5 No, 2, $1.28%, Oats firm ; No, 2, J1XC. Cora acarte and firm at 40)c. Ryo firm; No. 1, 68c, Barley dult and nominal ; No. 9, 80c. Faxtonts—To Bulfalo, 90 ; to Oawego, 16c, Recriprs—Flour, 6,000 brls ; whont, 15,000 bu, BripagNTs—Flotir, 1,000 brla ; whodi, none, GINOINN. d Crxonawaty, Moy 7.—BReapstorya—Flour firm at $7.60@7.85, | Wheat frm st-§LJ0@L3, Corn firm ot 46@40c. Ryo firm st Bdc. Oata dull at 42@48c, Darloy firm, ProvistoNs—Firmor; pork—salos at $18,00 cash and buyer May, Lard nominal; steam, Oc; kettlo, 9igc, Bulk mo or + shouldors Leld ot 7c; cloar Tib, 9}@9X0; olear 93¢0, Bacon offorings light ; ehoult dora 803 clear riby, 97705 cloar, 10}c. Watsky—Firm at 88c, TOLEDO. Torxpo, May T.—Bneapsturrs—Flour atoady. Wheat steads s No. 1 wbito Michigan, $1,00; amber Michigan $1.74), spot ; $1.77, Juuo; 0,1'red, $1.80 ; o, 2, $1.76, Oorn n shade higher ; high mixed, apot, 7c; weller June, 4730; July, 48ic; low mixed 403c. Onts rg‘lll!l and unchanged, Receieza—Flour, 2,000 bris ; whoat, 6,000 bu ; corn, 5,000 bu; oats, 9,000 bu, BurpMENTE—Fiour, 15,000 brls; whoat, 0,000 bu; carn, 87,000 bu ; oate, nono. DxTROIT, Mich,, May 7.—Passkp Ur—Props Russia, Wenona, Scott; Belrs Morning Light, Lincoln, Dall, Penfiold, Bmitl and Post, C. I, Wiilidms, City of tho Biraits, 'St, Audrew, Acotias, Ilorids, Luff, Gross, Helfensteln, Pagsen DowN—Propu Clty of Boston, Onelda, and Ohicago; sehir James Bswyer, WiND—Northeast, Durnort, Mich,, May 7.—PaRsED Ur—Props Wat- moro and barge, 1daho; barka Ogurita, Erastus Corn~ Ing, Btrcot; Achra L. Van Valkenburg, Goyersor, For- cat’ Queon, America, Bridgowater, Annis Vought, Trinidad, T, Mott, ¥, Harmon, Bwallow, Clamplon, M. Btanson, Red Wing, O, Raab, Pagszn DowN—Schra Orknoy Lass, Osborn, WiND—Esat, e e 5 11linols River and Canal News. TaSALLE, Il Moy T.—No arrival or doparturo by (be Hvor." The Tobt, Holmes loadsd with lumber for Floronco, tho Cataract with luin- ber for Honuepin, 'and tho Monto ~Clristy with lumber for 'St. Lonla passed out of tho canal, Notbing passed fn, The Isabells with Tumber for Bt, Louis, the Oak Leaf with ‘moulding sand for St Touls, and tlio othor bonts abova mentioned atl nwait towage, Fiftcen feot und threo inchice of water on the mitoraiil of Lock 16, having fallen only threo uched sucoyoatorday, 0 Camar, Corrzeton's OFFIOE, Chicago, Moy 7. Anmivep—Chicago Belle, Utica, 6,000 bu corny Monareh, Lockport, 129,600 lbs meal, 400 brls flour ; ‘Atlantie, Morrls, 6,200 bu! corn. . OLEARED~-Jonnio, Morris, 85,012 ft lumber; Morn- ing Light, Ottaws, 91,084 ¢ fumbor ; Norway, Havana, 101,183 £t lumber;' 11,000 f llfllu(j, 20 m luth, 1,000 b3 tin'plato, 2,000 1ba carpenter and jofuor work Walker, Lemont, light ; Drill, Morris, G6 bu potatoes; Mohawk Bello, Kmfiulua feodor, 505 ft Jumber, 70 m shinglos Messenger, Kankakoo feodor, 85,000 ft lumber, 7 m Iath, 2,600 Iba carponter and jofer work ; i1, G. Loo- mis, ankokeo fooder, 6,600 ft lath ; Ontario, LaSalle, 69,422 (t lumbos 670 £t Jumber. SPECIAL NOTICES., The Gorham Mannfacturing Co. Tomind the public that tho Supromo Court of tho United Btatos has rocontly given » doclslon f thelr fasor which 00w full protaction from tho imifators of their dealgns, BPLOIAL ATTENTION s requosted to tho fact that the following trade-marks aro stempod upon evory artlclo mavufacturod by them: Trada-mark for * Trado-mark for ottt Bivor, | Gorbim Fiectro Fiate, el® @ STERLING IR, GORIIAM MFG. CO., Manufacturors of Btorling 8llver Waro and Fino Eloctro Plato, Providongo, Tt. I., and No. 1 Bond-st., Now York. Taa Sorvices, Dinnor Borvicos, and Wedding Outfits in groat varloty, from tho largost to tho smallest, of tha highoat ordor, ‘are coustantly issulog from tho Gorbam Works, Schencl’s Mandrake Pills. Thove villa ara composad oxolusivaly ‘of vogotablo tn arodlonts, and although tioy vutizoly suporada Lo e of moroury, do not loavo any) of Its tnjurfous offa Thoy sot direotly upon tha livor, and aro a valuablo ramo- dyin il cases of dorangemont rosulting from a disor dorod atato or that argan, Liver Complalat, Bilious Disordors, Tndigostion, Sick Hoadacho, Tynhold Fovors, &o., &c.. 'all puocumb 'to tho froousaof Scheuck's Man. drake or salo_by all druy doators, NEW PUBLICATIONS, APPLETQNS’ Furopean Guide-Book, ILLUSTRATED. Inoluding Fngland, Beotland, and Ircland, ‘Franco, Belgium, Holland, Northorn and Bouthern Germany, Bwitzerland, Italy, Spain and Portugal, Russia, Donmark, Norway, ond Swedon, Contalning & Map of Rurope, aud Eighteon othor Maps, ‘with Plans of T'wenty-ona of tho Pelnolpal Citise, and One Hundrod and Thirty Engravings. To which Is spponded a Manual of Qonversatlon in Euglish, Gor- man, Fronoh, and Italian, Sisth Itdition, Cor- roctod to Maroh, 1873, 1vol, Red Morocoo, Tucks. Prioo, 8600 or, in two vols., 8U BU, Tho typa of this work romains standing from yoar to year, w0 that any changes sro mado up to the moment of #0lug to press, D, APPLETON & CO, Publishers, 540 & 6561 Broadwuy, N. Y. when niot ta ho had I booketoras, sont pot- toany part of the United Btatos, onerecuipt of tha prico, MEETINGS, _ g Masonic, A wpocial assembly of Van Ronsiolaor Qrand Ladga of Porlocdun wil by hiki at o Masoulo Tompla” 1l evonlng, 847X CClE i ) MILES, Gr. Boorotacy. Masgonie. 3 te this (Th Fadon No omhu'}"fi 1, 1 J‘Au'.'mf'.'fl,’ op 81, 1. Digroae Vieltng biotiirei cordialiy l 0 V. M, Bretderet E. 8T, JOHLN, Boa'r, ‘Wauban: groniug, for wor lovited, MOTTLED GERMAM SOAP, | THE PRICE OF THE CENUINIIE IS REDUCEID. " ORIGINAL MOTTLED GERMAN SOAP. PROCTER & GAMBLE, CINCININATT. Our Trade-Mark is on Registration in the United States Patent Office, No. 88%. : ‘We CAUTION consumers and dealers against the IMITATIONS of our Soap. We shall prose- cute any infringers to the utmost limit of the law. OUR BRAND. V. AL 55 South OPENING, “GRAND OPENING!” Chas. Gossage ¢ Co. SATURDAY, May 10. ‘We shall open on the ahove date in our new store, at our former location on STATE-ST., ‘With a magnificent stock of New Goods, including the la- test styles in Ladies' Garments and materials of every de- scription, and a very full and complete assortment of the best Goods in every Depart- ment, to an inspection of which we extend a cordial invitation to all friends and customers, _ 1086, 108, 110. . DRY GOODS. CARMON, PIRIE & CO.S Retail Department IS NOW OPEN, IN THEIR NEW PREMISES, MADISON "AND PEORIA-STS., ‘With an Elegant Now Stock of DRY GOODS, INTERESTING PRICES, STOCKHOLDERS' MEETINGS. STOCK-HOLDERS' ANNUAL MEETING Lake Shore & Michigan Soutbern Rellway Co. Orrice oF T LAk SoRE & MICTIGAN BOUTRERN) TAILWAY COMPANY, 4 QLuverann, O;, Marh1i, 1618, Tho annual moeting of tho Htookhuldors of this Com- pany, for tho olostion of Diroctors for tho ensuing yoar 20 for tho tranenction of othior lmpartaut Lusingss, wil Do huld at tho oflico of tho Company, In tha oity ul Olevelond, 0., on Wednesday, 7th Day of May Boxt, bolwosn tho hours of 11 c'olgok in tho fofanoon and 3 o'clock in tha attornoon of that dag, “Tho transfor books of tho Company vwill ba closed at th clonoof Diaiios, 03 tho stk ey of ADill nest, aad. will " Fain, 0 Bt day o 5 F0-0pei o8 tha IWOFRIK O PG 1, TeLY, Bocretary. OFFICE OF Chicags, Rock Island & Pacifc RAILROAD COMPANY. April 25, 1873, The snnusl meoting of tho Stockhaldors oF o Culongo, Paoltic Rallroad Company, for the eloction of Directors, pursuant to law, and tho transaction of such othor bualncas as may conio beforo tham, will ho hold at the oftice of the Compsny, in tho Olty of Chicago, en Wodnesday, tho 4th day of Juno noxt, ak 11 o'alack a, wm, JOILN 1. THAOCY, Presldont, OWS, Boorotary. Juliet & Chicano Railroad Company. SECRETARY'S OFFICH, OWI0AGO, May 3, 1873, Tho Stookhioldora of the Jolot & Ohlcago Raflroad Qowmpany are horoby notifiud that tho annusl moeting of sald Company, for tho election of Dirootors and transsa- tlon of othor busingss, wiil bo buld at the ofico of tho Chicago & Alton R, I, Oo., on Wednosday thio 1th inst,, atlyo'clock a, m, W. M, LARRABEE, Hoo, Stockholders’ Meeting. Notlos is horeby givon that tho annual mooting of the Btockholdorsof Q1fongo Houtl iranals Dock Company, {or tho eloctian of Direotors of sald Cony illl’) will bo h! at tho uffico of sald Unmpany, No. 61 Wabash-av., In the City of Ghicago, at 10 a. m., Waodnesday, June 4, A, 1), # i, O, n{‘.\su{:, ocrotary of Chicago Houth Branoh Dock Uomusny, SHIPPING TAGS. DENNISON’S PATENT SHIPPING TAGS. Hltons have boon ured withi w withuat complalut of | o tag bocoming dotached, Al Kap Companion usy theim, Sold by Friutors and Statloners Everywheros tho by " The GENUINE can be had if you order PROCTER & GAMBLE. MARSH., AcenT, ‘Water-st GIFT ENTERPRISE, LIBRARY GIET CONCERT, $500,000 in Bank to Pay Gifts. 10,000 OASH GIFTS PAID IN FULL, $100,060 for Only Ten Dollars. Enough of the 100,000 tiokota lusug it Guoare o 14 of the Babite. Licser ‘L?’i‘('n‘i.fi.':u";? old drawing, aod tho wist lly oxprossed that tho 10,000 cash o drawn in full and patd n full withe out any sanling down, as horotoforo, tho Managsmont, with thio conourrance of thio Trustaow, datormined (o allon unthl July 8 for tho sale of' cho roinnant ol tickote lof on tind. Tha eoncort and distribution at first advorting for April 8 waa thorofors poxiponud to Tuosday, Julyd, 07k, on which day, and no othar, thoy will positivoly and’ unc uivocally take place lu Public Liteary Hall, Louiavilio, At this grand concort the following cash glfta will ba distributed by lot and paid in full to ® L b tho tickot-holdors Ono Grand I, '1;1‘ OF GIFTS, < g .k On6 Gran TR One Grangd Ity - - = 20,001 Ono Gran PO T 11 Ono Grand L TN 11} e (rm Gifyy . "L 5 24 Canli Glita 01 81,000 © B 8 of Hoy B0 Casl ( 8 of 401 100 Cnwl 5 of 800 i} ‘nsh 8 0 104 9,000 Cish Gifts of 10 Thio inonoy to pay all thoso gifts. n full {s 4 ponaney e bir S UTR I ol s se s 20 naito for that purpione, and oan only. Do uk6d fortiat purfae, o3 il bo scon b tho fallowiug vortiicato s the " OFFICE OF FANNERS AND DROVERS' BAN LOUIVILLE, 1.\ ADEN T, 11, This I8 to cartify that thorals in the Farmora! and Drov- er' Bank to tho crudit of the Third Grand Qlt Concort for tho bonofit of ‘tho Publle Library of Kontucky, fivd hundrod thoussnd dollars, which has boon sot apart by tho Managors to pay tho glfts (o full, snd will boRold by o Tank and yafd out for thia purposs, and this pirpota 3 8. hior, ‘Thio party, thorofore, who holds tho tickat aplafi s e eter asicgthe 3,000, sad &t tho othior gitta, 10,000 1 B b 000, hiscomnant of unsold tiokots will bo £ q e BESpbly Corlors accompantad by Lho menor ainm baving piaranon ovor ago tho following pricos; Total, 10,000 Gifta, all Cnsh 850 f Elovon wholo Lutuigip oo 85 snd quartars, 3.60. v 8500, 113 for' 81, 000 #nd 876 for 83,0 "No disoount on lass than 8100 worth of Tho concort and distemy s concgrt end distenation of gifts will bogin at 8 Tall, and the followlug wflh."l‘.(._!- la Bubllo Llorary Firat—Mualo by orohontral Dand, Her of brodoedingsy 1ags (oue for oach tiokut sold) In Jargo Plact I Blacing of glfts tn emall whool, ¥ourti—Momd'bird— chontral buh.> Fith Rxplaneiory tomarke by Frare Gont, Stath—Drawing of iiest Balf of gilts, Bovanth— MMubi by orciioateal band, Klghth—Drawing of last half SU'Blfo. RinthoPlacing of {srge whool with tags in the hadan ot Gommitteo appointed by audianco, “Lenth— rand orchoatral goricor! " hu musio on this grand occaslon will be tho bext that oan bo procured, snd thio gontlomen who count and pl tho tags and lfts in tho whuels, and superlntond the rawiog and keop tho rocard of the drawn nurabors, will 0 chosan {rom tho bost known and_moat, trustworty oiti- zonwof thodiate. Allwill by o conductudas o bo s por- ot aranty agianst complaint from an 16t 3 Kbto: Hokiot-ojdam will find iolr Intorosta as ofootu. ally protoatod aa il thoy bad boon porsonally prosont at the rawing. “Thn paymont of glfts will begtn on Saturday, July 13, a8 9 arclobk g . Tickota draning ifta must 66 prossnited at Room No. 4, Publio Liveary Bullding, whors onsh chooks upon tho Farmers’ and Drovers' Bank of Loulavills, or alght drafts upon the Fourth Nattonal Bank of Now York, actiio option of tho holder, will bu wiven for tha tokets: A1l glita ot callod for In 1 months from the drawing il tuFnod ovor ta the Bublio Library fund, 7 tull partioulara sond for eiroulars, and for tiokots sond your monoy direat to hoadquartors as Loulsville, & 5 o) hie followis dd; By fothe folloming gl prAMLETTE, lio’ Library of Kentu ~7 Youtaviile, ORNAMENTAL IRON WORK. (Fould Brog. & Dibblee, 149 & 151 State-st,, Chicago. ORNAMENTAL & ARTISTIC Metal Work, WHOLESALE AND RETAIL. Fountains, Vases, Statuary, Drinking Fountains, Aqueriums, Deer, Dogs, Lions, Emblematic Signs, Copper Weather Vanes, Stable Fittings, Crestings, Iron Furniture, Brackets, and Store Stools. EXCELSIOR LAWN MOWERS. Agonts for tho French Patent BOULEVARD CHAIRS AND SEITEES. Agonts for Younglove Architectural Iron Oompany. HV;A'IXI"E Patent Nluminated Tile. : FINANCIAL. Adem Smifh & S, Bankers, Tirs! Natlonal Dank Building, southwest coruer of State and Washinglon-ts,, Chicago, Dealera in Gold and Bilver Bullion, Ber, Leal, Shoet, and Granulated Form for me- chanleal purposes. Doposits recolved in oither curronoy o* coin, aubject to chsck without notios. Bix percont intorest allowed on all daily balances, s Ohecks upon us pnss through the Oloaring- House, as if drawn upon any city bank. Intorost oredited, and accounts-ourrent rendored monthly, Coin and Currenoy Draft: Now ¥York. FLOWERING PLANTS, &o. BEDDING PLANTS. Votbunas, §6 por 1005 othor kinds, 86 l‘fld 28, Boad for MNat, Aadro EDGAR BANDERS, a tatests