Chicago Daily Tribune Newspaper, January 15, 1874, Page 4

] ——e e~ TERMS OF THE TRIBUNE, TRUMA OF AUNSORIPTION (FAYATILE 1N ADVANCE), Rt S1E.00) Searey Tortaof Asoarat tho samorato, To provont dolay and mistakos, bo sure and pivo Post Offcoaddress in full, Inclnding Stato and County. Remittancos miny bo made olther by dratt, oxpross, Post ©Offica ordor, or fn roiatorod lottors, at onrrlaks TERMA TO CITY BUNACRIDFRA, Dally, dolivorod, Bunday oxceptod, 2 cente por woek, Daily, doliverod, Sunday fucludod, 10 conts por wook. Address THE TRIBUNE COMPANY, Oornor Madison auid Uearbors Uhleago, Nl ‘TO-DA' " T TRE—Madiron streot, hotwoon DA Bt e P ko Opora-Trouye, ** Mignon,” AMUSEMENTS, MY OF MUSIO—Halstod atront, botwoon Mad- e Kapoment o8 "Somn bion: “Blow for Blow. HOOLEY'S THEA Olurkunnn Lafialle, ¢ :—Randololy _atroot, botwaon ashion and ** A Regulae Tieat GLOTNR THEATRE-Dosplatnosstreet, hotwaon AMad. K Washington, — Kngngemont of the Fox & Rt MYERS' OPERA-HOUSE--Monroe stroof, botwoen 3 lington, Uotton, and Kemblo's flsnshona ans Slacs: gfalivaion, Coifory aud) Kombici ENTRAT ITALY.—Cornor Wabasl, avonun and Tvons 23“’:{5‘ Gi i A A ilornoon and orontui. The Chicags Teibumne, Thursday Morning, Januery 15, 1874. ‘The Wiseonsin Legislaturo convened yestor- Ony. . In the Scnato the Ropublicans showed thomselves in the voto for ofiicors to lave n majority of one. In tho House tho Reformors elected Gabriol Bouck Speaker by a voto of 58 to 88, The Governor's mosange will bo sent to tho Leglsluturo to-dny. A largo numbor of men ongaged in work con- nccted with conl mining and transportation weoro discharged yestorday by the Philadolphis & Reading Railroad which shows uo intontion of conciliating the coal miners by maintaining trages'at tho presont rato. Over 10,000 men aro 20w out of eraploymont in tho coal reglous, with 00 prospect of gotting worlk till spring. After a vigorons debato, the Roprosentatives At Springfield have pasted o rosolution instruct~ Ing tho Judiciary Committeo to report whether tho schedules propared by the Railroad and {¥archouso Commissionors neoded to ho enacted by the Legislaturo to become law. Tho voto ptood 75 to 45. Tho opposition to the resolution aroso from o feoling that it was ' o backhanded Blap at tho Inw," as the Judicinry Committeo wero bolieved to be unfavorable to it. ——tre The Homso of Ropresontntives ocenpied its timo yestordsy in o considerntion of the Naval Appropriation bill. Tho discussion ranged from Mr. Beclc's roiteratod charge that tho Govorn- ‘ment had spont part of tho naval appropriations for politieal purposes to tho conundrum whethor Now York City was at the meroy of for- ‘elgn iron-clads. Aftor tho disoussiow hnd talan such fearful and wonderful complications, Mr, Hale, not knowing what would como next, moved an adjournment, which was bad, —— Tho Kansas Farmora' Co-oporative Associa- tion, now meeting at Topoka, lina adopted reso- lutions urging Congress to roudor great con- tres of Westorn trado like Ohicago as accossible to oconn tonnago ns Now York or Boston. They reiterato tho doctriue that railways should bo subject to National and Stato rogulation, and enll upon LONQross to provids fur suvap brauss portation botweon the States. The Executive Committoe of tho Association stato that thero aro 131 nuxiliary societios in tho Btate, indepond- ent of tho Granges, which number 1,000, — The Millers' Notional Assooiation are mow holding their third annual meoting in thia city. Yosterdny tho Committeo on Trangportation presented their report. Thoy ‘reconrunond rail- ronds to givo precedonce in transportation to flour in packnges, a8 it is o muchmoro profitable clags of freight than grain in bullk, and strongly arge tho compnnics o keop their froight-rates stondy and uniform. The question of publish- ing & National Millors® Journal was cheaply sattled by giving tho sanction of tho Association to tho American Miller, which is already in ox- Iatonce, Tho Bonrd of Railway and Warohouso Com- migsionors have sont tho Slate Legislaturo o stntement of thelr expenscs from 81at Docomber, 1872, to 8iat Decombor, 1878, They have ox- pended £2,705.64 for lawyors' foos, clarke fire, and tho liko, 9,018.48 for incidental vxpongos, and $5,000, has beon paid out of tho Btato Tronsury for their printing. Thoir ealaries como from the same sourco, and o uot included in tho abovo figures, A roso- {ution has boen almost unanimously passed by tho Ifousa instrucling the Commilteo on Civil Borvico nnd Rolrenchmont to report on the «dvisability of nholishing thoe Bonrd. et e onshen Our sapient Borrd of Equalization lins do- prived Rockford of o valusble manufactory, Bomo Bt. Louis capitalists, who wished to invost Eheir monoy to botter advantage than they could st home, had nearly comploted the contracts for outting up buildings at Rockford, when tho Bonrd began its wild careor. Tho St Louls men learnod that thoy would ho taxed on the value of their manufactory, and then on the ptock which they had paid up in ordoer to raiso tho money noeded for building. Unablo to sos why their property shonld bo taxed twico orer, cheoy curriod their ensh ncross the Mississippl, out of tha rench of IHinois lnws, ¥ e sy Beuator Schurz delivered an elaborato speech o the Sonato yesterday in favor of the immo- @inte resumption of specie pnymonts, o op- posed tho relesuo of any park of tho 941,000,000 resorve, and showod that the attempt to revive prospority by inflating curroncy was delusive aud fatal to logitimato business, The Wost and South, ho said, had nover rontly profited by infla- tion, and would bo the grontest gainors by the immedinto restoration of iho hard cash princl- plo. Tho prosont timo of genoral economy and eareful ealoulation naturally followlug tho panic, the Senntor thinks, I8 tho most opportune that zould bio found for throwing asido the burden of an inconvorti wonk yostorday, with losa business doing, Moss porle was modorataly actlve and 10@150 por brl towor, closing at $14.80@14.85 casb, and $14.65@ 14,60 sollor February. Lard was quiot and 160 por 100 hslower,oloalng at $0.00@9,05 oneh,and §0,10 99.12}4 sellor Fobruary, Moats were quiot and cusior, nt BY@G36o for shouldors, T3¢0 for short by, 7540 for short clear, and 83@10c for swaot pickled hams, Drossod hogs wero more sctive sud stoady, at £0.00@0.12}¢ por 100 1bs, * Highe THE CHICAGO DAILY. TRIBUNE: THURSDAY, JANUARY 15, T4, winos wero nolive and stendy, at 073¢o por galion. Flour was quict and unchnngod. Whont was loss notivo, and 2@2%o lower, closing at $1.231¢ oneh, and 81.26 gollor Fobruary, Corn was ne- tive and 13¢a lowor, olosing at 50c cash, and 693¢a rollor Fobruary. - Onts wore moro notive ond 1o lowor, closing at 4240 cosh, and 4230 sollor Fobrunry, Ryo was quiot and stoady, ab 790 for regularNo. 2, Barloy was du)l and atondy, At §1.24@1.20¢ for No, 8 outside of speolnl houso, Livo hogn wore in modorato domnnd ab un- chinnged pricos, with sales at £4.60@5.00 for voor to extra, Cattlo and shoop wore active and fvmer, — Tho National Bontd of Trado, now in sossion at Baltimoro, nve cdopted rosolutions disap- proving the practleo of gnarding the colloction of customa duties by tho demoralizing practico of rownrding informors with moletios, and allow- ing rovonuo officera to seizo books and papors arbitrarily, Thorowasa debato on tho roport of iho Committeo on National Yinnncos, but o vote will riok bo ronchied uatil to-dny. Tho ra- port opposos any furthor 18sues of irredeomablo papor currency, and doclares it to be tho duty of tho Govornment to cancol ail that havo been igauod of tho forty-four million legal-tendor re- sorves, Rotronohment fa said to be tho impor- ative duty of the Govornment, and somo amend- monta of tho National Banking law aro suggeatoed. — The Gago cnso was called up hoforo Judge Mooro yostordny morning, fornrgument on the indiotmonts. Mr. Gago’s counsel reprosonted to tho Court that thoy bad not had timo to oxnm- ino the papers ns thoroughly ns thoy dosired, owing to othor profossional engagomonts, and the argumont was postponod to Triday, Jon, 23, Both Mr. Dextor and Mr, Swott disclaimed tho intontion of moving to quash the indictmonts beeaugo of any tochnical flaw In form, but de- aired timé to ascortain whother tliero aro not de- focts in the substanco which domand that thoy shall tako this course in justico to tholr client, There was nn intimation that tho State Inw, un- dor which Mr. Gngo was indioted for failing to turn over the monoy to his successor, does not apply to his case. . i S In following the agrooablo fashion sot by At- torney-Gonoral Williams, snd requeating tho, Prosidont to withdraw his namo for tho Ohief Justicesbip, Calob Cushing has not, it is to bo Lioped, simply roopenod tho way for a third of thoso disheartening blunders of tho Prosident's, Any ordinnry mou would have learnod by this timo to_consult with somo trustworthy ndvisor bofore meking & nomination of o transcendant im- portanco, but thon, Presidont Grant is not an or- dinary man. It s stated, with some show of suthority, that among thoss from whom the Proatdont’s noxt choico will bo takon are Judgo Drummond, of this city; Judge Dillon, of Tows; Judgo Dixon, of Wisconsin; and M. R- Waito, of Ohio, ZLike Gon., Winflold Scott in his Presidential aspirations, tho Couni do Chambord, aud s good many other ambitious mon, Mr. Oushing Lss fallen victim to aw imprudontlotter. In March, 1861, Lo wrote to Jofforson Davis, then Prosident of tho Confederacy, a porsonal Iottor recommond- ing. ono Roano to his favorable consideration, In this lettor Mr. Cushing reforred to tho diffor- oncos botweon tho North and South ng having undermined ndddestroyed tho Union. This lottor was brought to thonotico of Prosident Grant ana tho Benato day before yostorday, and at onco onded any possibility that the former would press the nomination or the latter confirm it. The nseurances which Mr. Cushing givea in hig lotter to tho Prosident, that he has nover in any way boon disloyal to tho Governmont and Con- stitution of the United Btates, and that ho ap~ proves of all tho Iato conatitutionnl ambnd- monts, bave very littlo interest now, that there is no dungor that their author s to Le Chiof- Justico. —— CONGRESSIONATL RAILROAD LAW, ‘Thoro is o bill ponding in tho Houso of Rop- rosoutatives at Washington, roported by Mr MoCrary, of Iowa, which has for ita object the establishment of o Railrond Biiroau, Lo conslst of nino Commissioners, ono from oach Jndicial cirouit, and to Lo appointod by tho President, ‘This Board of Commissionors, among other du- ties, aro to proparo and publish schedules of rates for tho transportation of merchandise and othior articles upon any and all railroads carrying freight from within one State to another Btato; and, in all ensos whoro such railroads connect with one or more othor railronds in ono or morn other Statos, tho wholo line shall bo treated and hiold a8 ono continuous road, for which n schod- ule of rates shall bo charged. All railrords aro limited to *“fair and reasonable” rates ; and, it tho toll or compensation demanded by them shall bo groator than that fixed by the aclicdules propared by tho Commissionors, then such com- pany shall be doomed and held guilty of oxtor- tion, unless the company sball show afirmativo- ly that its rates aro ¢ fair and ronsonablo,” o, after all, the quostion roduces iteclf down to the igsuo: Is tho rato demandoed in erch cnso by the railrond company fair aud roasonablo? Tho achedules of ratos prepared by tho Commissionors aro not and cannot bo made conclusive, Against this bIll there aro throo objeotions : 1. That Congress hns no powor to preseribo tha ratos of tramsporlation over any railvond, whether wholly in ono Btafs or oxtending over two or moro Btates. 2, That such u-power, if 1t oxisted, ought nover to bo oxcrelsed, be- cnuso it transfors to a nationnl tribunal an au- thority that can ouly bo safoly and wisely oxor- oisod by tho Slate Govornmonts. 8, That it doprives tho Btates of all tho safoguards and protections whick thoy now can omploy againat the extortions or misconduct of corporations chartored by such States. It makes theso cor- porations indepoudent of tho States that ore- atod them. ' . Tho power of Congross over this subject wil bo claimed to bo found in the section of the Constitutfon which says that Congross shall Lavo power o rogulato commerco with for- cign natious, aud among the soveral Statos, and with the ludian tribes” Hero is s grantof power whioh is the same in each of theso cnscs s Commorco with foreign natlons; commorco among the soveral Siates, and commerco with the Indian tribos, Congress hng already exor- clsod this powor in enchof thoso cages. It hina one actod laws “ rogulating " commorco with foreign natlons by providing that all vossols shall bo pro- vided with cortain means and appliancos necos- sary for tho prosorvation of passengors and proporty tranaportod by them. Itlos * rogu- lated” commerco among tho Btates by slmilar provisions concorning the management of stoam- org aud sail-vessols on rivers and Inkos, aud their roquirements for the safoty of passongors and proporty, It has Also “rogulated” iho commeroial intoroourso with tho Indian tribes by probibiting it in somo onsos and liconsing it in othera, Theso rogulations lave beon of tho mosb soarching charactor. It ia now proposed that, undor the powerto *regulato,” Congrosa may oatablisl the rates aud tolls to bo cliarged for transportation. Astho powor exists in pro- clacly tho nmo torms i anch ongo, 1t follows that Congross may fix & maximum rate of toll or componratlon for the tranmportation of all nogsengors and of all classes of morchandlso, moved {6 and from thls conntry to and from forolgn nations. It may proscribo tho rato por milo por ton of all frolght by ocoan steamers or snll-vessols from any port in the United States to any port in Europe, South Amorioa, Wost Indics, Chiun, or Japan, If fixing rates of componsation for transportation bo & ‘“regulation” of com- morco, then Congross hna procleoly tho samo powor to ostablish tho rates of ocenn froighta to and from forelgn couniries that it has to cs- tablish tho ratos of transportation from ono Btato to auothor, If this power oxists, of courso Congross can rogulato, to tho grent ndvantaga of tho peoplo, the ontiro cost of ocoan froights, 1t s truo, foroign vessels might rofuse to submit to tho “rogulation,” and Amoerican vessols would probably be sold to forelgn ownors, but thon the oxtinction of all foroign commeroo would bo but in keoping with other *rogula- tions ™ which Congross has enaoted. Taving disposod of tho forelgn commerco by rogulating it out of oxistonce, Congross could thon undortako to regulato the rates of trans- porlation on steamboats, propollers, canatboats, and snil-vessols on tho rivers, canals, and lakes of tho conntry. Of coursoe, any rogulation must recognizo that transportation by water must Lo porformed for loss than is allowed for transporta- tion by rail. Thore ean bo no argument in favor of the power of Congress to eatablish ratos of com- ponsation for transportation on railroads owned by corporations chartored by States that cannot bo equally applied to the eaunblishing of rates for transportation in piivato vessols to foreign countries, or upon stenm vossols aud canal- bonts on tho interior rivers, lnkes, nnd eanals, It should bo borne in mind that while Con- grees hne no powors save thoso granted to it by tho Constitution, tho Btates, in thelr Logiale- tures, have nll powers not donfod thom by tho National and their own Btate Constitutions, It this powor to fix rates of componsation exists anywhero it oxiats in tho Logislatures of the soveral States, and it conld not be Iodgod, if it oxists at all, in a more epproprinto place. Itis on csnontial polut governing this whole Bubject that tho transportation company is entitlod, un- dor all circumstances, to o fair and reasonablo componeation. Of this it cannot ho doprivod by statuto, nor by scheduls, nor by Inw, nor by rog- ulition. 8o that, after all, the inquiry in overy caso mugt be whethor the charge domandod is afair and reasonsble ono. Whatis fair and rensonable componsntion must bo mined by tho circumstancos of onch caso, and of these olrcumstances Congross cannot hopo to nct ns intelligontly nor ns Justly as can tho sovoral Logislabures, Tlis wholo schemo of Congressional logislation looks vary, much a8 an attompt to transfer tho rogulation and control of rmlrond monopolies from tho hands of the poople, acting in their Legialatures, to Congress, whoro there is loss direct rosponsi- bility and greater scopo for thoso external in- fluonces which no longor control Stato Logisla- turos, Tho Legislaturo, inits work of rovising tho statutes, hng under considoration n proposition to punish dealing in options, whioh will soriously interfore with iho business of tho Doard of ‘Trade of thia city, and atill more sorfously intor- fore with the farmers in selling their produce, The section which i now undor considoration ronds as follows : r0. 100, Gamblingy contracts for future delicery of grain, ete. Whoover contracts for tho salo of grai, pork in barrels, beef in barrols, stock of any rallroad or other company, or gold, for futura delivory, excopt whon the soller is tho o¥ner or the ngent of {ho owner thercof, and i actunl posscssion of {he eamo, shall bo fined not oxecediug §1,000, and confined i tho connty Jofl not oxccoding ono year, aud nll such contracta slall bo cons!dered gambling contracts and vold; and all monoy paid or depostted -on' the samo mny bo ro- covered back, 8a In other cases of gamiug, 8o far as Auch a law could be mado to provent wild speculations, ** sealping * options and thoir rosulinnt * corners,” it would prove boneficial but, unfortunately, the law is o sweoping that it includes all options, and thus directly affects ot loast two-thirds of tho business which is transected on the Board of Trade. And, moro than this, it is o sulcldal policy, so far s tho farmors - thomgolves aro concorned, In nino cases out of ten, tho country warchousoman or- ders his commission agent to goll ahond, bacause ho cannot earry the capital suflicient for o cash business, and thus furnishos n ready and con- stant markot for tho farmer. With such a law in oporation, it would requirc an amount of capital to tramenct business which would simply bo unattainable, and the farmers would soon find themselves ruined, Tho sbeurdity and impracticability of such o law, howover, is best shown by its application to othor casos, On the samo principle, the packer conld not contract to delivor pork in the fall, bocauso Lo hasn't got. it onhand. A grocor in Chieago conld not buy & barrel of sugar to arive, boosuse tho meller has no sugar on hand, An opors menager could not contract to givo opors, bocause ho has no singors on hand whon ho makes his contraots, A man could not subscribo for a nowspaper for a year, becauno tho publichers bhayn't got the nowa they aro contracting to dellyor. Buch o law wounld put a complote ombargo on all business which deponds upon agreomeunt or contract, such as _grain, provisions, and ronl oatate. If the mombora of tho Logislature think they are subaerving the interosts of tho farmors by passing such a law, they will probably find out thoir mistako whon two-thirds of tho busi- noes of the Board of Trada is cut off, and the middle-man has to closo his warchouso, beoausa nolthor can command tho immongo capital which would bo roquired for immodiato transaction, COUNTY SURVEYORS, - Wo have just eoon n ciroular, Issned by Mr, Josoph Lediio, the County Burveyor of Banga- mon County, inviting all the County Burveyors of tho Btato to meot in convention at 8§pring- fiold to-day, to propose and Dresout to the Logls- Iature amendments to existing laws nffecting survoyora, In tuls ciroular Mr, Lodlie pots forth his opin- ion and wish *that onch county should bo ro- quired by law to furnish ita Burveyor with a full and completo copy of all the flold-notos, maps, plats, oto., of tho Govornment surveys in thelr rospoctivo countios, also offico-room, fuol, ata- Honery, oto,, thareby placing tho Burvoyors on n lovol with tho county ofilcors in that respoat at lonst, oven ghould thoy not bo ablo to ingure them half 80 good wages,” This is n vory ron~ "gsonablo roquest, Cook and Bangamon Countios, and probably most othor conntios, whon tho Sur~ voyor lives at thio county-sent, nlways provide for oflico oxponeos; and cortainly overy cnuniy ought to provido iteolf, through eithor its Sur- veyor or it Recordor, with tho Govoynment dator-" plats and flold-notes. Those papora aro cesen- Uil to accurate survoys, and it is of groat ime portance to property-ownors that thoy should bo placed within roach of all Survoyors, Dut tho burden of the ciroular scoms to bo o wish to dofent the woil-known mensure known as tho Burveyor's bill, and a drond lost this bill should Lo n practlcal abolition'of the County Burvoyorship. Wo havo oxamined this bill, which §s now pending in tho Loginlaturo smong tho unfloished business of tho Inst session, and wo fail to find anything which need disturh any competont County Survoyor. It ahould bo borno in mind that tho funotions of County Sur- voyor aro of & doublo nature,—publio 86 far as relates to tho county and it ofiicors, but entirely private as to tho oitizena who employ and pay lim to dotermino their farm-linos or to survey tholr housa-lots. Tlio County Burvoyor s tho offloor oleoted to lay out roads, inspeot mines, and railrond crossings, and do othor survoylng when officlally roquired by tho county authoritles, and with this his pub-' lio functions ond. Whon ho is hired by A or 18 tosurvey a farm or lay out a ditol, ho is no more a public officor than ,the lawger who drawa & will, or tho dootor who adminlatora the final pill. But horo tho law, whioh leaves othor mon to their own Lrain aud musclo, atops in with tho provislon that all subdivisions of land futo town Tots must bo donoe by tho Gounty Burveyor only, thus dobarring omployors from the bonofit of compotition and of choloa of surveyora, ‘Tho objact of the Burvoyor's bill is not to in- torfore with tho County Burvoyor in his publio functions, but t open the goneral business of surveying to all comors who havo given proper ovidenco of thoir ability to doit. 'This hae al- ready been done for many years in Cook County by tho proviston for 'licoused survey- ora, who furnish ovidenco of compotonoy ond oxporionco, filo a bond of £3,600, couditioned upon the proper dischnrge of their duties, and take out & licenso to practico as County and City Burveyors in Cook County, This syatom, which wan started with tho advo- ceoy of our County Surveyor himsolf, Mr. Wolcott, has worked 50 woll for tho last ton yoars that wo bavo strong renson to belioyo that it would bo a public bonefit to oxtond it ovor the wholo Btate. In all counties whoro the incum- bont fa not & professionally-cducated man, tho law should cortainly throw no obstacles in tho way of well-quelified men whom proporty-owners wish to employ. < — _ TWO MAYORS IN CONTRAST, ‘Tho contrast botwoon the course of Mayor Cobb, of Boston, and Mayor Colvin, of Chiengo, in dealing with tho labor quostion, I8 o signifi- cant ono,—so much 8o, that tho latter might study tho nction of tho former with great profit to himself, if Lo were so disposed. The circum- stancos in onch caso wore almost precisoly simi- lar, Tho unemployed workingmen of Boston, on Tuesday Inst, liko the same class in Chicago, three or four woeks ago, waited upon tho City Govornment through g rogulariy~-appointed committoe, and domandod that tho city should purchage land and ercct now market-houscs, constrnot new roservoirs and aqueducts, build & City Hall and Court-House, and institute othor improvements, which would give labor, for oight hours only & day, to all the unomployed, without tho intorvention of contractors. This wag virtually tho condition of things here, but at this point the parallel ends, snd the policies of tho two Mayors in dealing with tho voxed quos- tion are ag widoly apart as tho poles. Mayor Cobh mot the domand of tho working- men in o dignifled but at the samo time do- cleivo manuer. Without any httompt at ovasion or conciliation, ho stated tho exact facts in the cagoin a fow plain words, which thoy could not fail to undorstand. e informod thom at tho outsob that tho city was sufliciently providod with funds to carry on the improvemonts which they had suggoestod, but that such a policy would bo cortain to lend to abusos in the hunds of political corporation. Furthormoro, the City Government was oxceuting s trust, and its powars wore deflued and limited by statute. The application of thoso facs fs best statod in tho Mayor's own words : Wo cannot use the publie funds oxeept for cortain publio purposcs aud in a logitimato way, In my opinton, 1t would be o very short-sighted policy for tha City Government, supposing it bad tho suthority, to undortake to give work ot all timea to thoss who bap- pontoboout of work, and cannot readily obtain it clsowhoro, You can geo, with o liltlo reflection, fo what thia would lead, Tho moment wo depart from tho rulo of providing employment only 8o far as itia roquired to porforn tho honest and legitimate busi- ness of tho Governaont, wo aro eurrounded Ly difie cultics, This fictitioua demand for labor would grow Dby what it fed ou, Thero would be no limit to puck a courao whon it Waa onco enterod upon, This is o plain, straight-forward, and manly way of doaling with o suddon issuc of this sort, which, in nino cases out of ton, would commend itsolf to rationasl mon. In this instance, the workingmon made no xoply, but loft for their homes, aftor thanking tho Mayor, and wont about their business, ovidontly convinced thnt thoir intoroats would not suffor in tho hands of o man who had tho courage and firmncss to stand up and toll them tho fruth without regor- vation or equivoestion. ) As coutrasted with this exhibition of official firmnoss and good senso, the conduct of the Bayor of Ohicago, undor similar clrcumatancos, shows to n vory poor advantago, Infirm of pur- poso, vacillating in Intentions, and unable or unvwilling to grasp tho situation, he commenced by temporizing, palting tho crowd tpon tha back, and making wild promigos, which o know, or ought to lhave known,. ho could. not carry out. At his first in- torviow with tho commitfoo of tho work- ingmon, he lowered himeolf from the posi- tion of Mayor of tho wholo pooplo of tho clty to that of n moro political partisan, Io only recognized in tho crowd, clamorlng its impossible demands, his politioal friends, who lind just oleetod him fo offico, and, in gratitudo thorofor, Lo was roady to nccede to snytlung, and to promise thet something should be done for thom, even though he had no power to make good promise of any sort. The Mayor of Bos- ton, with the funds at his command, Lad tho firminoks fo tell the workingmen thoy could not bo usod except according to law, while tho Mayor of Obicago, without a cent ho could uso for such & purposo, was lavish in suggestion of what ho would do, From that timo onward, Mayor Col- vin was in tho hands of that short-lived young domagoguo, Mr, Ioffman, until Mr. Dextor so effcctunlly enutfod oub tho, laitor, Aftor Mr. Colvin bad found out what Lo should liavo known at tho outsot,—that oven it tho city had had tho funds Lo had no - authority to uso them,—ho then adopted Mr, Hoffman's abeurd and unlawful proposition that tho Rellof Bocloty ehonld turn over its funde to committocs of Aldormon for distribution. This brought tho mattor into the hands of tho Sovloty, the officora of whioh showed themsolves competont to doal with it. Mr, Hoffman was squelched at the outsot and remauded to uis Jaw studies, which gratifying process had the offoct to indireotly squelch: Mr. Colvin and all tho absurd proposi- Hona which ho had maintained, 1t Is to bo presumed that, by this timo, Mr. Colvin lns got the duat out of his oyos, and has discovered that his wild sohomen for alding Lis politlcat frlonds woro ag irrational na thoy wera impossible, The poople of Boston congratulate themsclvos 1pon having & prompt, consistont, nnd omphatio man for Magor,” Tho people of Clifengo have only the §00d sonso and Judgmont of the ofilcora of the Roliof Bocloty to thanlk for saving thom from tho chaoticconfusion which would Linve rosuited ind tho Mayor of Ohicago boon allowad to hnve hig own way. As wo stated at tho boginning, Mayor Colvin may rond tho romarks of Mayor Uobl with some profit to himself. —_—— NATIONAL CENTENNIAL, Tho capitsl roquired to place tho Natlonal Contonninl Exhibition .ot 1876 upon a cortain foundation, and to prevent any possibility of Toss, or any dofloionoy in arrangemonts for want of moans, is 10,000,000, This was divided into 1,000,000 of shinros at 810 each, and tho wholo waa allotted to.tho sovoral Btates according to population. Tho nmount spportioned to Iltinols was $067,000. This is loss than tho sum con- tributed by the people of Philadolphia to reliovo tho sufforors by tho Chicago fira. Each sub- serbor to » aharo rocolves intorost on hia money until January, 1876, and is ontitled to a relativo proportion of tho oxcoss of recolpts over ox- pouditures. Tho City of Chieago fs oxpocted to, and undoubtedly will, make an imposing display in that Exposition. ITor own wonderfal history will bo o brilliant pago in the con- tonnial nchiovoments of tho nation. Cor- tainly Chicago can afford to subscribo liborally to tho stook of tho Exposition, beoause it will be not only good flnancinl in- vestmont, bub also & proper approolation of a gront national ovent, and o falr roturn by our ‘Pooplo for tho magnificent contribution to us in our day of want and suffering. Tho hinndredth anniversary of tho Republic is an ovont in the world's history. It has attractod spoclal atton- tion in all parts of the onrth, and, from all quartors, thero will be & grand roprosontation in Philndelphia in 1876, Evory nation of Europo will bo roprosented there, aud will take a livoly intorest in tho anniversnry of tho Awmorican Empiro. Tho Stalo of Illinois is tho fourth Stato of this Ropublic; and, of this State, Chicago bas a world-wido fame, Cortainly wo of this Stato and of this city have n spocial intorest in tho Contonnial Bxposition of 1876, Tho sharcs of stock aro but $10 ench. If properly undor- stood, this clty could talo 3500,000 worth of tho stacls, and it would be money woll invasted, ovon if not o dollar was over returnod, — e LAW-REFORM, Binco our rocent artiolo on *ho Commercial Advantages of Law-Reform,” particularly in tho mattor of tho process by which suits aro bogun, Wo linve rocoived tho American ‘Law-Review for January, containing an article on “The Su- prome Court of Judicaturo Act of 1873," rocently adopted in England, This nct, the most com- proliensive over onncted anywhore in the intor- ©eala of Law-Roform, goos into full operation in Novembor of tho present yoor. The gorms of guch an ennclment wore, doubtless, Inid in the offective agitation bogun by Lord Brougham holf a contury ngo. In 1869 o Royal Commis- sion, solected by Mr. Gladstone’s Governmont, and composod of tho most eminent lawyors and Judges of Gront Britain, including membors of all the Superior Courts of Law aud Equity of England, roported that tho doublo syatom of judicaturo in which commoun-Inw romedies should bo administered iu cortain courts, as tho Quoen’s Bench and Common Plens, and refused in others, ae Chancory and Admiralty, and vice versa, was productive of ncedlesn ‘confusion and injustice, which ovil could bost bo sur- mounted by blending all the superior courts into ono court, whoso Judges should each, upon Proper occasion, exerciso any jurisdiction here- toforo confided to tho othors. Throo YeRrs aftorward, Lord Chanceilor Hatherloy introduced abill having this object in viow; which wos op- posed and withdrawn, Tho prosont Clncellor, Lord Bolborne, took office under a pledgo to pro- pose such o mensuro, which, after a full bat nearly harmonious discussion by tho Parlinment, Bouch, Bar, and Press of Euglond, bas been adopted and is now tho law. It makes tho consolidated Supromo Court of Judicature to consiat of five divinions, to which aro;assigned tho namos and tho Judgos formorly constituting tho District Courts, Thero is a Common Plons division, = King's Bonch di- vision, an Exchoquer division, s Chancory division, and s fifth division having cognizanco of divorca and matrimonial causes, probato of wills and admiralty casos, in all of which there havo horotofora been cortain modes of practico borrowed from the civil or Roman law. The entire Court will consist of twenty-ono Judges, oach of which may sit in Lis own or any othor division at plossuro, and cach of which may erant any form of roliof to which tho facts, ns thoy ariso, upon tho trinl, may ontitle tho litigant parties, , whother logal, oquita- ble, or in rem, or may sond tho case into that division of tho Court whoso Judgos mey be most familiar with tho olass of cases to which it bolongs, or may summon beforo -him any third partios againet whom oithor of tho par- ties to the snit may have a romody over, arising out of tho samo facts. Thus, if a suit bo brought by tho consignor of merchandiso against the consigneo for goods sold, and lost or burned in tho hands of tho carrier on their way, tho con- signor may summon the consigneo, and tho lat- ter may summon tho carrier who is rosponsible to him, aud tho carrior tho insuror, and tho in- surer, if nocessary, tho roinsurer, nnd tho Court will ronder ono judgment or scvoral, a8 it thinks nocossary, to delermine the rights of all. Doubtless it requres good law- yors to adminfstor justico undor so liboral reg- ulntions, but this gonoral systom ls devised by tho very Judges who are to administor it, The fact that tho twenty-fivo Judgos of tho Buporior Qourts of law—Equity, Probate, Divorce, nud Admiralty—in England have disposed annually of all tho litigated businoss of twonty-threo mill- lions of poople, oxcopt tho potty causos, suf- ficlontly proves that they know what thoy aro about, In Americs, the cases in Courts of Rec- ord of nlike population require tho servicos of Judgea who would number by hundrods, Ot courso, all diatination botweon forms of aotlons is abolishod. The Courtis to proscriboe by rulo tho form of the summons, so that whother it is to- issuo from the Court or tho attorney, oris to be served by au oflicor or o privata party, or i3 to bo roturnablo in & givon numboer of days or onadny atated, is not yol announced. But the distinotion botweon “#terms" nnd vacations ie sbolished, and all dolay to tho phintit in walting for o “tarm® tocomo avound ia pamovad, by a vra. vialon that tho dofondant may, by ordor, soon after tho servico of tho summons, bo eniled on toshow cause why judgmont should notim- modiatoly bo entorod agalnst lim, wlvxvluh lio muat do by afidavit, showing an apparont do- fonso. If tho partios plend, they oro to print, filo, and Rorvo on the opposita party coples of thelr pleas. Of courso, tho ‘only rulo ot plead- ing prosorvod i, thnt tho party shall atate con- claely tho facts. constituling his eausn of action ordofenke. Four modes of, {rial aro provided, viz.: Boforo one or moro Ji udges, boforo n Judge and Agsoxsors, beforo o Judgo and jury, or before n Roferoo, preserving tho right of olthor parly to o jury, It he demands it. Ap- poala to the Court of Appeal ars to bo brought summarily by a mero nolico of rehearing, thus abolishing writs of orror and hilla ot axcoptions, but no apponl slays proceadings, except tho Court 0 ordor. Whatovor matter would he oquitablo ground for enjoining a party from suing shall constitnto & good defenso to him i suod. Inall confliots Lotwaon the rules of law and equity, that of oquity shall ho spplied. Costs slnll Lo taxed in tho discrotion of tho Court, but it Is nssumod that tho dlscrotion will bo reduced to uniform and pro-announced rulos, and will aim to componsato tlo sucacastul patty in proper cnsos out of tho pocket of the wrong- door for tho cost of the litigation, The American Law-Revicw ably urges tho ate tention of tho Bouch and Bar of Massachusotts to tho provisions ot this important act, ospocial- Iy in its romoval of ‘tho “ constitntional right to unjuet dolays,” which has beon herotofora 8up- posed to bo tho inalienable right of & defondant, but which is, in fact, an obatruction to ‘business, and an injury to tho gonoral intorosts of the community. From its argument in this rogard 1t is manifoat that tho inconveniences attondant upon & bungling adaptation of tho anclont En- glish systom of *procoss ™ and * torma” in Xli- nois aro fully shared 1n Maseachusatts, A vory interesting sult has just boon brought in the Circuit Court for the District of West Vir- ginin,-by the Attornoy-Gonoral of the United Btatos, to” compol tho Baltimoro & Olio Rail- rond Company fo vacate tho Governmont prop- erty ot Harper's Ferry, which it is now occupy- ing with its shops and tracks. Tho bill nllegos that the Bocrotary of War, as authorized by law, sold the proporty in Novembor, 1889, to Francis 0. Adams, for $176,000. Default in payment of the notes having beon made, o decroe was ob- tained to rosoll'tho proporty to satisfy tho von- dor's Yien. It is now claimod, howover, that if thosnlo bo forcod the' property will not bring onough to eatisfy'the lien, on account of the oloud upon ‘the proporty, caused by tho ocou- poncy . of ‘tho Baltimoro & Ohio Rail- rond: Company,. Tho Company olaims its occupaney under o liconsp granted to its Presidont by the Secrotary of War in 1838, ond also by virttio of & purchase of a part of tho property from one Byrnes, who held it by patont from tho State of Maryland. Itis now claimod by tho Attornoy-Goneral that nelther the liconso nor the deed from Byrnes confor vy legal nuthority upon tho Rellrond Compnny to ‘maintain thetr traoks and shops upon tho prop- erty. ¢ e 1t is gratifying to find out what tho Interna- tional ronlly wants, One of its londors has told Gov. McEnory, of Lowsiana, tho wholo thing, The Confedoracy only wanted to bo loft alono, but the Intornationnl wants ench of its mombora loft nlone with ¥ forty acios of good land, food, soeds, t0018, cattle, lumber, or tonts,” and o fow othier things, including money to pay for trans- portation from Now York to Louisana and a modicum of cash in hand. - A firat mortgago is to Do givon in raturn, . 1¢ tho Btate will supply the Socioty with- theso - necessarics, tho Sooloty will stock the State with any number of Communists, warranted gonuine. The only diffioulty is that thoStato has not tho thinga to givo awny, and, if it had, it would be more npt to uso thom to bribe tho International to stay away thanto como. —_—— "Tho Ohicagd Christisn Unionmight take a hint {from the co-operative boarding-houso managed by tho United Workors' Socioty of Now Havon. ‘The establishmont is really a hoarding-house and restaurant combined. Eighteon young women ocoupy the rooms, and as manymore are occa- uional patrons of the roataurant. Tho svorage wookly cxpenses aro $60.82. Tho ‘entorpriso, now but a fow months old, ia already self-sup- porting. Thero is plonty of room in Chicego for somothing of this kind, e FARMERS’ CO-OPERATION. Mceting in Topeka of the Kansns Associntion -- Affnirs of the State Agriculturai College. Spectal Dispateh to The Chicago Tribuns, Torxxa, Kau,, Jan, 14,—Tho second dny’s session of tho Ennsns Co-operativo Aséoclation was rather moderately sttended, thio sesslons of tlo Legislaturo presonting superlor attraction, The morning seaston was mudaly occupled with Intoreating details of organ- izatlons, A discussfon ns to tho propristy of pormit- ting mombers of tho Leglslaturo who sro also delo- #3408 to participato in tho mectings was Soally settled by allowing thom to bo presunt in person or by proxy. Tudson, of the Knsas Farmers’ Assoclation, who wos last_night clected Socrotary, tondored his reslgnne tion, and Mr, Bradbent, of Sunihor County, was oleste od. " A ltat of committecs on tho subjocts mantlonad in my dinpateh of last night wes bunouncod. Mr. Olris. toplier, from tho commiftco sppolutod luit apring to investigato tho condition of TUE AGIOULTUTAL COLLEAE, read an claborats aud highly intevesting roport. Tho inatitution located & ¢ Moliattan hog Jong heon thi sub- Joot of contontion, tho agricultural elonicnt maintain. ing that tho curriculum ‘should Lo of an -industrial rathior {han o clnaslcal charucter, Tho roport. prafeed tho fnatftution highly, tho farm-stack, implements, ete., bolng found i tho Lighest degreo of oficloncy whilo tho zonl ana capacity of tho Faculty was alt that could Lo desired, Tho roport, howover, criticlsed the proacribed courso of tudy 18 being fanciful snd une practicablo, and maintaiued that the purposo of the collogo eliotld bo not tho clssical oducation of farni ora’ ons, but proparation for moro intelligent hus- bandry by the educatlon of farmors, IT WAS IECOMMENDED that (ho Board of Regonfa should ho made to har- monlzo with this idea, and the Conatitution iteolf ren- dered worthy the affection and support of tho farmors, Tho roport waa orderod (o bo_subiitted to tho cone slderation of the Leglslaturo, Trof. Kolsoy, Forester of tho Atclison, Topoks & Ssntn Fo Lallroad, favo somo interestin reaults of Lin experimonts h {roe planting on tho Plains, which woro mainly of o favor- ablo charactor, XKansag Roard of Agriculture, Spectul Dispateh to The Chicago Tyitune. Toreica, Kan,, Jau, 14.—Tho State Board of Agrl, culturs held its annual meeting in Ropresontative Hall to-night, About threo-fourtha of tho county socloties woro presented, Tho acting Chatrman, Col, ‘Thiomna Murply, alluded to charges of corrupt and rockless management on the part of tho Board, de- nounced them as infamously falso, und demanded rigld investigation, Cupt.” Anthony followed, ox- pluining tho transactions of the Board, and'accounting for tho oxceas of expenditures over receipts, amount. ing {0 about $5,000, Capt, Anthony, of Leavenworth, was olocted Preal. ont, and John'Davls Vico-President, Soveral vacan. cles in tho Excoutivo Commlitoo wera filled by enor getto inen, who promiso to rolcem tho affaira of the Hoclotics, -Tho uext Stato Fair will probably bo beld at Teavenworth, —_— POLITICAL, Nomination for Mayor of Philadcls Phin, Sneclal Dispateh (o The Chicago Tribune, TRILADELPNIA, Pa,, Jan. 14.~Last night & combing. tion of Reformers and Democrats met at tho Roform Club-Iouse, and, after an antmated discusslon, nome inatod Willism E, Lifttoton for Mayor, Mr, Littloton haa Just sorvad aa Ropublfcan momber of tho Belact Councll, s been prosiding oflcer of that chambor for tho last Lwo yoars, fs o good lawyer, an ablo spoaker and fu notod for hls unorring opposftion to sebemes plunder, 1o ia 3 graduato of ulrfla Gollogo, and_ {n oyery #enso o selfomade man, Tho Mo, A, K, Gl las Becied fho Homation, © 1Uus Ar 6 Mo- ——— OCEAN STEAMSHIP NEWS. UERNETOWN, Jan, 14.—Steamship City of No Yot Now York, arrived, Bl R w NEW YO, Jan, 14.~Sloamsliipa Russia and Egynt, l fromn Liverpodl, auid Porlore, from Draci, have arthved out, Artlved—Bleanor Silecan, from Hamburg, PUTS. The €handler, Pomeroy & €o. Caso Before Judge Blodgeit. Able and Interesting Arguments on Both Sides, The Hatter Taken Under Advicement, The argumont in the “puts” onso was tore minated youterdny befora Judgoe Blodgett, 'Iho Auostion camo np In this way: Whon Ohandler, Pomeroy & Co. failod, thoy had,ns is well known, & vory large number of contraats oute standing, which they failed to fulfill, , Tha majority of theso contracts woro what are coms monly eallod “puts,” bolng privilegos sold by tho above firm to varioun partion, allowing said partics within a certain timo to dolivor or “put to them o speolfied amouat of onts at a certain timo aud price. Whon oata foll aftor Juno 18, 1873, tho various partles offored the praln, but 16 was not tokon. It way then gold on tho Bodrd for what it would bring, aud tho difforenco charged to tho firm, and aftorward proved up beforo tho Rogiator, Ia sllowed them. Tho Arsignoe moved to expunge ol such olaims, Evidenco was taken, and tho ©€08 0 eamo up for argument on such evidenco. Tho claims amount to nbout ©400,000, embrace ing somo 100 potitioners or elnimar ARGUMENT XOR TIE Aty Counsol for tho Assigneo of tho b: agafuas the allowanco of tho * Duty,’ thu( should not ba allowad, P First—Docnuge thoy are inequitablo' and incoucolvablo, The amount pasid was only 819,000 (3¢ o cont por bualiol), and: thy olnimants”domand 600,000 08 © dlTorancos.” Whon advantage is taien'of tho ignoranco, dise trous, or necessity of anothor, it offora now and distinet fmml!l to sab n contract nslde, and elther of theso circumstancos oxisting in'cone nectfon with grass inadequacy s unuugg to war. rant o dourt in such action.” Osgood v. Frank- liu, 2John., Oh. 24, Tho next objoction is that tho transnction is void for want of mutuality, Tho vendors woro mnover bound by’ tho ‘'put” to doliver a bushel of oats, and nover becamo bound, If at all, by any contrnct ¥ro\riu out of it, untilit was immonscly to their profit to bacome bound, and thon ontiroly at their own will, ond without consont of vondae, and by thor own net. Hero was a sober, quiet businese man, who suddenly ombarks In #o extraordinary a schiomo, gut of Lis lino of business and quite outsido ol his exporionco; it was searcoly hoiiest, cortalnly not quito fair nor ohivalrous for these shrowd "aud able gamestors of this mighty Board to go “through bim" in thia way, and loavo him ponniloss i his old ago, with the earu- iugs of a lifetimo scattered to tho winds,—scat~ tored ns surely, and doliberatoly, and madly a3 if o ind poured his fiold into the seal Second—This “Iput isawageringcontract, con- trary to public policy and pubio iutarests it s it agreament which eannot bo enforced, and ot bost ismeroly an engagoment on the lmnor of tho parties. " Tho put is nu offor to buy, which can not bo convorted into o contract, if at all, until accepted. This put was not in thls caso, in fack, accapted until sfter the vendoos bocamo nsole vent. Tho vondors did not nucc:fn tho offer of vendoes until thoy know that vendeos could nob tako tho proporty, Honco it cannot bo truth- fully claimod that they mennt to sell whon thoy acoopted tho offor—tlint thoy moant to sall whon, thoy mndo tho contract of salo. But tho trath 1z, thoy moant to gat the differences—damages, in short, for tho bronch of the contract which thoy made, knowing it was to bo broken na soon a8 made, Irom this _Beeoptnuce, then,—from this tonder of tho grain, which could not bo talton,~no inferenco in favor of tho validity of ‘“put ” can be drawn, On tho contrary, of ti%ia action, of the ucceptanco, tho motive is tho vory sama attributed by us to the vondees in making the “put,” viz: not to soll grain, but to got difforences, It doos not Blomp the trang~ action with the character of raality; for it i congistont with the charge that it was merely colorable, and meant to be broken and wound up by paymont of differoncos. When they mado the ‘“put,” they made a wager that tho prico of {,'m(n Would full helowtho price named in the *put,” puttng 3¢ cout per bushel against that indofinite dilferonce, agningt o sum, ai unknown sum, to bo uscortalued sud detorutined by tho ovent. > It is objectod thnat tho lotter of thoe contract must control ; ihat il canuot ba shown by parol to bo void ; that tho facts cannot bo snown which prove_that it was & mero wagor as to tho prico of grain. But this dootrine fa that long sinca candemned by the courts, who found, to use the language of Lord Ellonborough, * unfess the ohligor wore permittod to contraveno tho condition of thio bond by plea, showing the truth of'tho trausiction, a boud would bo made o cover for overy spacies of - wickedness and ille-. gulity.” This istho doctrino of English nnd) Ameriean courts, ever since tho case of Collins v. Blantorn, where Lord Chiof-Justico Wilmot 8aid, “Tho principlo upon which courts of jus- tico muat go, 14 to enforco the porformance of contraots not injurious to aouiutj'; aud it would £, krapta and insist that be absurd to say that a court of justice shall bo bound fo enforce contrasts injurious to and agaiust public good.” In Grizowood v. Blane, 11 Com. Beneh, the Court gaid : That the fact that tho transcction in this cao nssumed tho form of n contract, about amatter lawful in itself, was not con- olusive as to its ronl motives, as tho finding shows, That was the form which tho Sonth Sea Bubble took in Bngland, tho Tulip Bpeculation in Holland, and the Morus Maulticaulis in this country ; and the form served only as o thin covering of tho most frightful systom of gambliog evor known. Third—Butaa siready stated, it i not necossary to maintain oither propovition, ns that all wagers sro void at common law, or aro prohibited by our statute concornlug gaming, in order to 1ix tho mvalidity of this wagering coniract. 1t 14 void bocauyo it i contrary to publio policy and ublio intorest ; becauso it has an injurious ondeney in respect to llpubl(o rights aud in- torests. The public good, tho public policy, the publiu intorost, tuat thoy are ngainst these “ pute,” is shown most clearly by tho faot that statutes aro onnoted forbidding such wagers, in Eugland and Now York, and cleewhore, whoro tho doctitne has cropt in recogniZing Wagers ns valid at common Inw. Thoso statutes nre recog- nitions of publio policy, which existed bofoys thoir passago; recognitions of the fuct {Lnt wagers—oll wagors—uro now n:Fnrdml 88 con- douned by tlio colightoned judgment of man- kind, 08 haying o tondoney injurious to publio intorost, In Morgan v. Pottit, 3 Seam,, 629, ond in Bendlos v. Bliss, 27 1L, 820, whilo the court voluntarily aud uuqucnasnrug tako on tho yoko of the Englieh decisions, the doctring is. oxpressly rocognizod that wagers which are againat sound policy, or tend to immorality, or injurlo\ml{ affoct the righis of others, sxo not rocoverablo. Fourth—There is snother point of viow to bo taken of this cnse worth pro- senting; it is this: Supposo it wero ovon iruo that the parties meant {o buy and doliver tha grain if the pricon foll, What doey this moan? It monns Just as cleurly o contract to pay differences, o, bot upon the prico, & wager {hat tho oats would fall, and Chandlar ba unable to carry his cornor. 'Horo was o bat about tho prico of oats aleo, put in tho form of o sale—n conditional eale, it may bo called—a form, in this caso, much moro ivdicative of bet; and honco it i8 in no wiso matorial whothor the par= ties mount to doliver or not, What thoy did mean wos to put up J5 cont por bushel agninss thoe cliances of a big Tall in tho prics of aats, and tho fact is they havo won: and that is the ho- ginning and end, tho plain Tinglish, of tho transe notion. Tho transnction—thoe prica—wis moroly o vehiclo for a risk upon the evont, that Ciand- Ter oau or cannot keop up the prico of oaty, If thoy meant Lo soll, yet thin made of ascortuining the prico, fixen tho charactor of tho transaction to bo & wagor, ANGUMENT FOR CLADMANTS. On tho other aido, tho couusol for the olaim- ants allego in favor of tho puls ; First—Ehat the contract in vahd on its faco, a8 the agreomont {s mada by partios capablo of xnnkln{; o contract. I'ho eubj‘ocr matter, being tho salo of grain, is luwful, Tho considoration is good and’ sufliciout ; tho agreomont to puy tho mouoy, and its paymont oy acknowledged by ono party, is in consideration of the undertukingg of tho other party to receivo tho oats, if ton~ dored, and to pay the prico fixed ; tho ngroo- mont to recoive and pay for tho oats, upon de- livory, by ouoparty, i considoration for the money agreed to \m, and paid, by the other party. Lhis papor, tho piintad *“put,” is not n propoaition, opon for acceplunce, liable to bo withdrawn, for it binde o party, for & counideration in monoy actually ~paid, to reecivo and pay, dwming tho purlm! of timo namod in tho contract, Tho transnction {8 not a moro oplion, known In’ this rocord as {* buyer June” or * saller June,” meaniug thoro- by that the buyer hav tho right to call for a do- livery of the grain, or the soller to notify ot hig intontion to lf'el(var. In theso cades & margin may, it roquired, bo dopositad, but otherwise no