Chicago Daily Tribune Newspaper, May 9, 1874, Page 3

THE GARDEN CITY. Gloomy Predictions of Outside Papers. Thelr Talk of Empty Stores and Heavily-Mortgaged Property. Aocording to Them, Ohiba‘go Js Ruined in Busi- ness, 8 Statemenit of the Facts in Ref- erenco to Theso Alle- - gations, Cofnparison of the Business for 1874 and 1873, It Is More Préfltuble Even ‘When No Larger. Influence of the Increased Pros- perity of tke Farmers, Eastorn. - Capitalists Are Satisfled with Chioago Seourity. There Is Plenty of Capital but Few Borrowers, Exponsion ot the Business Dis- trict and Xts Results. | e, and eccren of the great toros atand ompty,” Just beforo the opening of tho Tre« mont Honag, the wriler triod to got rooma ot vich of our large hotols, At each ho was told that no moro porminnont bonrdors could bo taken, inasmuch as the moro profitable traneient travel kopt each oconstautly full. ‘The Tremont now rofuscs to mako any pormauent arrangomonts, for tho samo roason, In view of theso faofs, wo might charitably conclude, wora it not for tha socond clause of the sentenco quoted, that the firat wan intendod to rond: “ The groat hotols aro ovor {lllod,” That second clause is no truer than tho first, Vory fow of our great atores stand empty. Thoro nro somo tennutloss ones on Wabash avenue aud_ tho cross-streols bolweon Htato ntroct and Michigan avonuo, Theso aro aubatantinlly all, In nearly ovory caso, rome special roagon _oxists for the faof. I'hue tho ompty storos on Wabash nvenuo nrg mainly thoss which woro ‘built, hautily and roughly, immodiately after the flto. WHEN THE HANDSOME BUINESS QUARTER WAS . TEBUILT, ¢ with rodonbled splondoy, the merchants who wora hid away In incouvenient rooms along the avenuo fiom Twelfth stroet northward, hastenod to rooccupy their old places. ‘Iie avenue had beon spoiled for s resldence street by the con- vorsion of dwollings into shops. It was now spolled for & first-class buelnons sireot, at lonst bolow Congross, because lauudrios, reataurants, oto., ocoupiod tho motamorpliosod honses, 'Tho baaly-bullt atores immodiately north of Congroas atroat could not stand this doubls trial,—n new and splondid business quarter a little further north and sbyvrid stroot of patty shops immedi- atoly south, "Thoy wore thercforo sbandoned. THR UNOCOUFIED DUILDINGS ON THE cHOSS- BTRERTS stand empty for two roasons. Thoss of thom which were built early were hold at absurdly bigh rents, Most of thom could readily have boen et at the rates nair asked for them. Thoir owners' refusal, ot first, of such ratos, drove businoss to other localities, and thus hindered the renting of all stores in thoir neighborkood, To counterbalange the fow unoccupied stores,— unucon‘rlud, most of thom, for spooial reasous which do not affect tho vast mojority,—wo can ¥olnt to buelnces-centres in places covered, be- ore the flie, with petty dwelliugs, Madison stroet prnh-bf_v Las now more Atore-room upon it than Randoiph and Madison formerly had to- gother. Busineas sprang a mile and more woute ward on Madieon aftor the firo, and has main- tained its foothold thore, whilo on tho South Side & atreet of shantics has becomo ons of palaces, ¢ NO SUREN SI1GNS OF PROSPEMITY can bo given. Our trade Lias covered nearly the whole of tho old busiuess soction, and has, be- aldon, built up dozena of blocks of stores whora dwollinga once atood, * Yot tho passer-by must watch ~with care, in order to find a va-~ caot building. One who glances ‘over the loomy pictures of the outside .press wauld imagino that & man standing in front of ane oc- cupied store must use a telescope to see the eign of the next. A store is built to- be rented, It it stonds unrented, that is sometbing ab- normal, something to be remembered, The ayo paseos idly over miles of occupied buildings, to rost upon one that is not. The sight is atiange, 1t soems, then, for'a text on which to decry Ohi~ ©ngo. When What Potter Polmer and Other Props erty-Owners Have to Say, Whero the Vacant Stores Are, and Why Empty, Hadison Street and Wabash Avenue, INTRODUCTORY. Chiosgo's rapid growth has boen a source of Infiuile sorrow to several of hor sister aities. Bumnor's volume on *‘Prophotio Voices Con- carning America” would not be half bulky enough to contain the prophetie voicos concorn- ing Chicogo, of the press in the East, West, and Bouth. We havo boen told that wo were growing toofast, and havothen grown fastor; that we woro ‘building too much,. and have then bullt more; that we ware weaving a too gigantio not-work of commeroial intorests throughout the Northwest, and have then thrown the meshos of our trade to every point of tho compass. And still, de- spie . GLOOMY TROPHEOY AND KIND ADYVICE, we havs gone on in the race, passing our whilom rivals one by ono, The simile of the mush- room baa becomo a8 threadbaro as that of the ohenix was after tho fire. Wo grow as quickly 368 the mushroom, but as luxurisntly and strong- ly as the qedars of Lobanon, Tho last wail over our prospects—an echo of all before—comes from New York, Bays a corrospondent of the Graphio ¢ The now Chicsgo eprong up after the fire with a rapliily that evon eclipncd e ervelons growth that tind already mnde the city tho wonder of the continent, ‘The Arst growth of Chicago, however rapid, was never~ tholoes the result of naturil causes, Its secoud growth oa been & forced ono, sud tho result is likely to be its premature decay. ‘Everybody admired tho pluck with which the peopls of Ohicsga detormined to begin the work of rebuflding while the cindere of the city ware yet hot, There was = uuiversal desire to help them, Goods wera furnialied to the merchanta on long credit; bullding materisls wero exompted from revenuio duties, and money in enormous sums was loaned for Luilding purposos, The New Chicago wan bullt on horrowed capital, and covered with mortgages, This alons would bave been s burden_heavy enough for any community to stagger under, but Chicago increascd hor difficulties by bad monogement, An altompt was made to change the business-centre of tho city by:building & busines: quarter where before the fire pusiness Lad never came, . ‘This was resisted by holders of property near the old business-centre, and measures were taken to business .whoro it had always beon, Hence ensued & division of Obicago uto tro Lostile campn, and the disperaion of business instead of its concen~ tion, ‘Then (here was a mistoke made {n building enor- mous holols and sfores, Hud Chicago intended to be snother New York in the courae of a yoar or two, thoe gigantie buildings might have been a wise invest- ment, As it is they have proved s futal waste of money, Tho great hotels are never filled, and scores of {he great atores stand empty, It ncems inevitable that & vazt amount of Chicago nroperty must befors lang besold under foreclosiro, 1o pass into tho hands of Esatern men who will find thomsclves the posscas- ors of a very objectionable whita elephant, Everybody remembers how tho sudden advent of Northern men with goods to sell to the Southern cities immedisicly after the cloeo of the War flled the news- popers with advertiecinents and made Southern news- Javers in excellent property {or & year of two, Then owever, {ho collapse came, Now Chicaga's present buainess proaperity is of the same dolusive character, Goods were pent out here in fmmense quantities soon sfter thefiro, and a brisk businees was done, chiedly on THOSE FOMECLOBURE SALES the @raphio correspondent is so sure about oc- cur, the Esstern mon will doubtless be able ta bear up under the burden of their white ele- hants, If not, plenty of peaple will be glad to uy them. The markot is now oveistocked with real estate loans, Tenn of thousands of dollars are lying idle in agonta® hands, for want of bor- rowers. TFor some montha, heavy capitaliate liave been quiotly traneferring their investments in railroad bonds, etc., to Chicago roal estate, \wThe *‘collapso” of our trade will doubtless come WHEN THE LAKE NARTOWS INTO A RIVER. Both events aro predicted with equal _certainty. Now geology toaches that the lake, nutend of Jeaving Chicago, constantly eats into the wost- ern shore and washes It over upon the eastern bagk. The eand-lills of Michigan were once part of Illinoils, The polnt is scarcoly worlh no- ticing, sava as an incidental proof of the inac~ ouracy that pervades the whole lottor. Our frionds’ might as woll eave thomselves the pain of grieving over our prematura decline snd 1all. When wo noeded their sympathy, it was given witaout sting, and was gratofully re- ceived. Now that wo do not want 1t, Jachrymoso displays of it might as well stop, Chicago can take caro of horself, —and means to do so. e OOMPARATIVE BUSINESS REVIEW. THE ASPECT OF TRADE' in the city genorally, as compared with the cor- responding time a year ago, is vory satisfactory. It is true, that it is not the same as thon atated. Its character has probably changed more markedly then is usual in the course of twelve months ; but the fact that it is o changed is itsolf an ovidenco of energotio progress. It may bo compared to & river which ohanges its courge by washing away from one bank, and depositing the dotritus on the other side, only when tho curront is strongest. The slow- moving stkeam never offects any changes in ita bed. The busincss of Chicago has changed ob- viously, and thieroin givon the strongest possible assurances of its activity, Chicago men, especially, lnst to complain of such changes, sinco they have shown thomselves in the past “to bo quick to adapt themselvos to the requiromonts of the situation, and to Toake money by active exortion, whila tho people af other citles were pondering over the condi- tion of things, and simply thinking how they could best accommodato themselves to it. If thers be some departments of trade in this city which may be enid to Janguish, they do so only in & comparative sonse, ‘The sluegishpess of business here would be activity clnewlere, ns the ordinary current of commercial enercy in Chicago would distract the merchants of euch slow-going cities as St. Louis and Cincinnati; and some peoplo might evon be disposed to add Milwaukee; though it is but fair to any that the Inttor piace haaa great deal more ga-gfieudlth‘n- ness anuz 1t thon eithor of tho twg gther cities named. There has bacn a good deal of complaint here, within the past few month, that business is GOING AROUND CHICARIO. The statemont is correct, but the cqmplaint is absurd. It is now a good many yoars sinco the conatruction of the Joliot cut-off caused the carpors to maintain that Chicago was about to loso tha entire produco trado of tho Misaisaippl Valley, ‘That, however, has not como to pass. It ia true that s good deal of business goes around Chicago, but atill more comes into and passes through, it. It would be just as foolish should be the credit. The collapse s coming bofors long, and 44 in- evitable, 1 do not vouch for the truth of the aseertion no conidently and commonly made, that he Iske {8 receding from the shore, It must ultimaltely recede, forgeology tenches that tn tim tho great lakes will esrly dissppear, and that a_river, wiiich will be, In pointof fact, n part of the Bt, Lawrctice, wil take thiolr place, It tho ‘lnke is already leaving Chicago, the Tuture of the city is dark iudeed. However, ¢ shall need to hays trostworthy scientific evidenco befors T Dellove that the subsidencs of ihe water is anything ‘more than femporary. LET US PICK TIIS TO PIECES, paragraph by paragraph. The glat of the first, is that our second growth was forced lustead of natural, and that it will therefore soon deoay. Tt isnstural that supply should coincids with demand, After the fire thore was an urgent domand for miles of new stores. In responso to it, the stores went up, What growth coild be more natural 2 The New Chloago is not tha re- sult of a monater contract to put up & ocity to ordoer. It has boen built bit by bit, as individual Iand-ownors eaw a chance to improve their prop- erty remunarativoly, The only difference be- tween the Arst and sscond growth is one of de- gree, not kind. During the firat, the chances of profitable bullding were few each year, Dunng the second, they woro plenty, In agiven time, thorefors, more individuals improved such chances, £ 7TIIS ONY OF FORCED GROWTH I8 BASELESS, eo far 28 it imples reproach. Tho domand for * bread forces the growth of millfons of bushels of whoat, Just Bo, the demand for stores has forced tho growdl of Chicago, Tho third and fourth paragraphs aro strikingly unfair, If Obicago is built on borrowed capital, the fact only shows that monoy can be used hiore bettor than 1t can elsowhere, ‘Those who moan because we, a8 a na.lon, have borrowed much money from foreigners, may grieve over Chicago's dobtor state but mén of sense will not, l‘\ln have borrowod money hecause IT PAID US TO DO 60, \Whon it ceancs to pay, we will conse to horgow. Until then, it would ba very poor rnuny Lo uto) “'Le confuston resulting from the fire m businoss disporeion inevitable at firat, Conce: tration hias boon steadily going on ever sinco, The enormous extonslon of our business area Lisy mado different contres of trade a nocossity, Wo thoroforo have soveral of them, s every metropolis must have, but each kind of business “s to-day as convenlently concentrated for buy- 28 a8 it was bofors the Fire. THE FIFFR PARAGRAPI pomr = 10 BUBY) of the croaking that Y he great hotols ave uprer to supposo that Chicago .must lore ber reputa- tion and poeiticn ns the commerclnl metropolis of the Northwest, because n cousidorable por- tion of the produce of that soctlon passes sround hor, instond of actually through her bor- dors, a8 it would be to expross a fear that the dry-goods princes of the city would be obliged. to shut up shop bocause one or two minor traders choss to open next door. The truth is that the one rather holps than destroys the other, It has long passed into & proverb, that oue must GO TO THE MARKET FOR FISH ; * and the actusl business transactod here is greater than it would be if all the commorce of the West wore obliged to pass through Chicago. In this, a3 In other respeots, competition is the lifa of trade ; and the doctrine equally holds [n the case of avenues of travel and communuities as it does with individuals. The morchants of Chicago are more acute, 'Thoy aro willing to do business ot a less proflt, and transnot it inless time, 8inca they ars aware that any little doreliction on their part would cause a diversion of a largo part of the trade into the channals that now pass around us, And without wishing to impench their intogmity, it may bosaid that competition tonds to make them honorable in their transeo- tions in the faco of tompiations to be other- g8, Chloago higs really tranaaoted . A GREAT DEAL MORI NUSINESS during the last four months than during the firat four months of 1878; though it muat bo admit- tod, in some casos, at a considerable less per- contago of profits. It ia necessary that it should be so, since Chicago, s the foous,of tno North- weat, must bo proaperous or impecunious as the Northwost la prosperous or o&mrwlno. 1t in easily shown that the farmers of tho Northwest Liave not been eo well off for a great many years ast a8 they are at tho present moment. The flblos following show that they have marketed in this oity & groat doal mora grain and bread- stufty than during the same time in tho precod- ing year, and, it may bo added, in any other year; and thoy have roceived batter prices for thelr property. They have been paid cortainly 10 cents per bushel moro for thoir wheat, nearly twice ag muoh for their corn, and ¢ cent per pound more for thelr hogs t'hnn tho average of Bm winters, In additfon tothe faot that thoy ave FOTWARDED MORE OF THE PROPERTY on which to receive these incrensed prices, Chi. cago has handled a groat deal more of thia prop- | erty than the: average; aud if, as s alleged by the croakers, s much larger percontago than usnal haas gone around Chicago, that fact Is ad- ditional evidenco that the faimers aro morg rwnnamun than usual, If it is conaldored that hey bave recelved an aversge of 10 por cont 100re pex bushel for thely property and that they THE CHICAGO DAILY TRIBUN haye furwardod shout 10 per cont more, it wiil to secn thet there has beon an addltion of not far i 20 yicr cont to thesr 1ecoipts during the past wintor, Tho farmars, thon, are rioher than ovor, and Lhe question {8, TOW ADK THEY UBING tholr inoreasod wenith ? It is undoubtodly true lll:xt thoy are nos spending it as thov nsed to do. ‘Tho Graugora' movomont has opened «Loir oydy to the value of roady money in makivg pur- chases, aud, inatend of now goiug to thio store and buylng thelr agrioultural implements or tholr groceries and dry gouds on tlme, the; profor to tako the cash in lhaud, uy less quantitier, porhaps, but obtain- ing tho articlos for much less prices, And borein lies tho aecrot of two important facts, In the first place tho country dealor has not been ablo to sell such larga bills of goods to armora s ho ured to do_whon they took thom on credit, and, thoreforo, lio buys rather BMALLER LOTS THAN FORMERLY from the wholesnle doslor. Dut oven the latter foct hns ita adysniage to Chicago, A great mony country dealors who used to goto New York, aud lay In largo atocks of goods, now foel that it 18 not worth “their while to ttavel to the mosboard to make unmpnmuvnlly, small pur- chasos; and henco thoy bring thelr money to Cluengo, buying smaller llunnlmus of goods, and being able to pay onsh thorefor, as thoy re- coivo roady money in a large moasure from tho neople to whom they goll. IHonce tho larger Eerccn!nuu of gooda sold in the country is sold ¥ Chicago dealers, and, as a rule, thoy can afford to scll for lowor prices, 'I:ncnuaa, instoad of giv- ing from sixty to ninety dags' credit on the gronter portion of tho goods, they now give but thirty daya in some cases, and the balance of PURGCHASES ARI: MADE WITIL OASH. Ho that, evon though our dealora are now doing business on & nominally loss profit, yot many of them earn actuslly more mouoy than thoy used to do under tho old order of things, bocause thoy nro able to savo the payment of hoavy per- contages in tho shape of discount on bills to HNow York factors, or to tho banks in Chioago, The fact that the farmors have found out the valne of ready monoy in buying gooda hes also tonded to TEPNESS BPEOULATION IN PRODUCE in this markot, in which many have indulged in paat years. Idnny farmers woro tn the havit of onding all their spars monay here, or, whioh is just the samo, aepositing it in & country bank to the oriler of n Chicago commission morchant, to bo used a8 marging to insuro the performanco of contracts to doliver or reccive grain in the future, This lavolved a largo amount of trad- ing iu options on the Boord of Trade on country account, much of which heas been wanting sinco the begluning of last winter; and, in conse- uonce, a great many of our commlesion mor- chants now complain that thoy are doing very much less buainess than they used to do on country account, But theso commission men are about the only onos who are injured; and for ever; ollar kept out of their pookets, it is ovidont that a groat many dollnrs are turnod over i the cash purohaso and salo of property In what doalors often call *the legiti- ‘mate way.” 5o that, If thero is less of general speoulation on the purt of the farmors, that very fact has enabled them to FORWAID THEIR TROPERTY towards & consuming markes, to receive good pricos therofor, and leave spoculation in such articles to the capitalists of tho city, who think thivk they cannotiind any better uso for their munoy, ; This view of the case explains the anomaly montioned in Tue TrIpuxE, sevoral days ago, of largo amounts of money belonging to country holdera lying in Chicngo awaiting investmont. Those men who lLave money to spare, in- stoad of sending it Lero to gcommission merchauts, sond it to Lo lonwed to other pnrties who = are willing to take the sk of speculntion, sud cau furnish ac- coptable collaternls as seourity that the moncy will be roturned when wanted. Thoy would rathor take tho cortmnty of FIVE 10 EIGUT PER OENT INTEREST for their monoy, by loauing it to some ono elss, than to toke the uncortamn risk of a much larger percoutage of profit, coupled with the risk of a total losn. And, inavmuch as the farmers aro gencrally a coneorvative clnes of mon, they insist upon what they consider good socutity, They waut, in the firat place, such securitics as can bo easily covverted into cash without a rulnous loss if the monoy s needed; and thoy have read tho history of ourront events go well an to know that cortoin claseos of stocks, some- times mincallod *sccuritics,” aro uot to be al- ways doponded upon, Hence they refuse to ac- cept them, aud the consequence is thas a good many people who formerly used to be able to ‘borrow money slmost ou their own notes alons now fnd their bands completely tied, and aro unable to raiso a cont additional ; the real prop- arty that thev have boing alrendy covered by mortgages. Thoseare the people who, s & rule, CDY OUT THAT MONEY 18 HOARCE and businces dead. Tho men who are engnged in legitimate trndo bave no such complaints to malko. 3 REQEIPTS OF FRODUOE. ‘The following table showa the receipts of cer- tain articles of produce in thus city during the first foumonths of the two years : Flour, brls Wheat, bu Beeas, tons.... Ments, tons, .14 ueees Pork, brls Lard, tous Butter, to No, N ides, tous, ighwines, brlz, Wool, tons, .. Lumber, m. . SIIPMENTS OF PRODUCE. Tho following were the corresponding ship- meuts : 783,270 1,152,063 Catllé, No Hides, (ont Highwines, bri Waol, tons, . Lumber, m, o Theso figures show that, during the past four mouths, a8 _compured with the same period i 1879, there have been recolved half as much more flour, threo and a half times as much wheat, o quarier more meats, mors than twice as muoh pork, 25 por cont 1noro butter, and 40 por cont more of high- winea, while there is no marked decrease in tho xecolpts of anything except corn, the orop of which Is notoriously short. Bimilarly, fu the shipments almost as good s record hag been 'mads, the chiof difference being in provisions, which are now in ather larger stock than usual, particularly lart. The lumbor ac- count presents about the same records m recelpts, and exhibits a sstisfactory ain in shipments, The prices of lumber being owor than & yeer ago, the record muy be con- eldered as about even ; but tho gonernl mova- went in farm Srmlucu gives ou aversge inorease of fully 20, and perbaps NEARER TWENTY-FIVE PER CENT on a cash value of property. It Is impossible that, with this increase In the wenlth of the West, there should be lews money expended ; and, accordingly, it was found upon & rather comprehonsive four amoug leading business-men that, although several of them ‘were disposed to croak about hard times, nnd some, spoaking in goneral terms, xaid trade was ‘vory dull, when roquested bythe reporter to turn to their books and give vesults in figuros, they BEEMED TO IE THEMBSELYES SURPRISED that the volume of business as monsured in dol- lars and oents aggregated conviderably more than a yoar ago. ‘Uhis was the case in’ almost overy department visited, and a few spesimens aro submltted, § THE LEADING DIY-GOODE DEALERS Teported au incrcase of fully 46 por cent oyer Inst year up to date, though thoy snid that the Jast two orthroe weeks Lad beon dull by com- parison with the proceding onos; but the nggro- sto of the four months exhubited ~ the ncrease sbove aiated. Thoy sald also that ocollections in the country aro vory muah better thon ever before, and fhnt now no difllcully Hhmnur was experienced in moeting labili- o4, . The volume of salos in the wholesalo grocery dopartment has inoreasod from 16 to 20 por cont, Prloen for some doscriptious of goads ara #o low as to leave but little margin of profit, but in other descriptions a very satisfactory ono is lett, ovon undor oloso competition with tho Znst, Both in groceries and in dry goods, tho re- portor heard several oxprossions of surprise ab tho Incrensod NUMBER OF GOUNTRY GUSTOMERS who come to Chlcago, having traveferred their attentlous from New York, Tha growth of buslness i thus rospect is really astonishing, and ponts very strougly toward tho fact that, ab no distant day, Wostern dealers will be e parativoly iudepondont of Now York; thoy are now only partially 8o. A large business has sprung up in direct importation of dry goods from Europe, of teas from China and Japan, and of sugars from places where they are grown, to any nothing of othor staplo artcles. And it 18 also noteworthy that thene imporintions lnrgo- 1y avold Now York. Tho Canadian routo In fast Kgrowmg in popular favor, groods heing handlod vory choaply at_ Montreal, nud without dolay, Phlladolphis and Doaton aro nleo compating vigoroualy with each othor for the VINECT TRADE WITH OIII0AGO, Baltimoro, ns an exporting point, will menfily double fta hnndling of inland trade within the noxt thieo or four yoard, ‘Fhe lmmbor tradn oxhibits o satisfactory fn- crense, the shipmoents to tho interior from the yards being much Iarger than evor before during tho laat haif of the wintor scason, I'rices have beon nbout 12 por cent lowor, but this has been fully offsot to doslers by the fact that thoro Las baon & botter marglu of lprum. becanse the cost of lumbor to tho local trnde was proportion- atoly lors, Thoro baa also boon more lumbor sold in the ngerogato than in former years' ox- cept during tho twalvo months succeoding the fire, when tho demand xns cortainly an extraor- dinary ono, to meot an oxtraordinary occasion, 1t could scarcoly bo “fmw' and It certamnly i not to bo hopad, that the peoploo? Chiengo will over want to rebuild the city in a twelve- month. The demand everywhoro is reported to hnv;; boen larger, the farmors i the intorior avin, s TOUAIT VERY LIDERALLY, being botter able to buy, in tonsequenco of a pecuniary position, whilo the mild weather has onabled them to mako improvemouta during s H;na whon they have to lioidle in an ordinary winter. Tho figures in tho above tablos do not givoa cotreot 1mprossion of the magnitude of the lum- Der trado with tho Intorior. ~ A radical chanze haa recently beon medo in the modo of chlpplnF lumbor. Instoad of uhipping by faot, tho rail ronds, sinog July laat, hnve carried by weight; aud it has hoon to tho advantage of donlets to forward uothing but dry lumber. Hence, ns a rulo, about 8,000 feot, and somotimos more, aro put intoa 0ar, whilo the railrond companies re- port tho load to the Board of Trade as only 6,000 foot., Consequontly, ono-third more should bo added to the shipments given above to find tho REAL VOLUME OF THE LUMBER shipped out of Chicago during the past wiater, ‘The trado is less notive now, because the farm- ora aro busy in tho flolds. ‘The lnst remark n&xlpllan also to bardware, the trado in which hay beou reportoed vory satlsfac- tory. Mors goods have been sold than during the samo porlod last yesr, sud some dealors na~ sorted tbot tho volume of business, so far: as thoy wete ablo to ascertain, was much greater than msual. The .dempnd hos largely beon from the country, and is acdountoed for ln part by the circumstaucs in relation to tho wenthor referred to botore, the farmors belng able o ropair their tences and outhouses during days generally too cold for out- door oporations. The denlera also state that trado 18 more steady and much MORE UNIFORNLY DISIRIDUTED agrogards time than 1t ordinarily 18, Generally it comes with a rush, about this date, af.or a season of two or threo months of inactivity ; but swce Chrstmas, tho forco of workers in. tho lendiug ostablishmonts has been atendily employod 1n filling orders and forwarding thom to parties in the country. Ouo voason for the couttnued activity is tho lower price of melals, eapecially iron, Lend and tin have also been lowor, but not so much se, owiug to a considerable accumulation of stocks attho liast, Tin 1 now advaucing, and an on- larged demand ia the result. 1IN IRON AND BTEEL the trade has boon ratner lLght. A smaller quantity of stapie goods hns been sold, but tho trado i miscollanevus articles ombraced uuder the head of **hardware " is reported to'bo about asusunl. The genoral mavket 18 depressed,owing to the. fallng off in radroud building, aund the production of iron from the oro Is now amall. Mauy furnances and mills havo stopped running altogether, and tho producars of railrond supplics are also genorally inactive, 1t-is thoupht, however, that prices have now touched bottom, snd that s period of much greator activity must soon ensue, One of tho dealors said thut trade in mer- ohiandise iron has been vory fair tor the time of the yoar, waich is genorally & quiet one. MORE GOODY HAVE BEEN SOLD, though in dollars aud cents the amouut foots up & little loss. ‘Tho trade has, howevery becu more satisfactory than a g‘au 8go, a8 then riocs wero steadily deolining, ~diminishing b0 profit, whoreas now. the market is steady, under the belief that prices can go no lowor. DOOTS, AND BIOES, ETC. Tn the wholesnle boot and hoo trade, doslers report an increaso of about 18 por cent. The latter part of April exbibits a falling off, the business for two weeks being a littie less than that for the samo timo iu the previous oar; but the aggregate of the four months is argor, us stated. Tho recont dull wonther puts » partiel embaygo on purchasing. The same is true of the wholesale clothing trade. It has been moro activo than ever be- fore, though recently experiencing a partial 1ull, the presont time being just on the dividing lne between the wintor aud the summor trade, THE WHOLESALE MILLINERS report an increase of from 20 to 25 per cent in the cash recetved, while the quantity of goods sold 18 probubly from 85 to 40 per cent greater thun lnst yeor, owing to dimiuished prices. Thoy stuted, however, that their profits were as good as could be expected with the groat compotition now mot with in Chicago, aud from other points, Io drugs aud chienucals, the country trade js much Dbetter than ever bofore, white the city trade s comparatively light. Tho ag- cgate of the two .gives o tolal which is sbout equal to that of last year, Though there 18 no increase, dealers seom satisfed wich the situation, as buyers order only for the sup- ply of immedinte wauts, aud pay cash, when bo- foio thoy used to ask for credit. Several coun- try doalors in towns like Peoris, Quincy, and Kookulk, now ordor almost all their goods trom hero, inttead of sonding to New York for them. ‘This fentwro of the trado is gaining with each succecding vear. Denlers in MUSIC AND JEWELRY say that the city trade is licht, butbthat orders from the country are more uumerous than ever. Thoy suate that the fanners are evidontly put- ting their money largoly into artioles which Mrs, Dotiphinr used fo call “articles of bigoiry and virtue,” and aro doveloping a fondness for mu- sio which ix unprecedented in tho history of tho West. Pricos ave low urdor close competitiou. DUILDING 18 PROGRESSING rathor slowly, and materials aro in less demand. ‘I'ha trade is said to be largely curcailed, owing to the scarcity of common briok, the stock of which is very light, The work on reveral stxuo- tures nlroady commenced has been snepend- od untll brick can be proourad &t reasonablo rate, the presont rates being deomod much higher than will havo 10 bo paid when the new brick comos into market, which will bo in tho courso of & week or two. Tho bulldh:g if principally in the reridonce quorter, very fo storos being under way in tho business section, In the important artiole of Hme, it is reported that fully as much hns been sold within the past month as in April, 1873. For the four months, rather loss limo has Leen sold in the aggregato, Lut there =are not 80 many persons in tho businees a8 thers wers a ent ago, which makes the trade of ndividual flrms noyw actively engaged, consider- ably larger by comparison, Prices are low, how- over, the compotition being still slarp enough to bear prices down to a very low poiut, g 5 OAPITAL. In order to obtain spocific information con- corning the stntements that capital wne shun- ning investmont in Chicago in consequence of tho heavy indobteduess of the city, n voporter onlled yertordav upon sovoral gentler pen who are engaged in the businossof nogotiating lonns, for tho purpose of obtaming their views. MR. PEABODY, of the well-known firm of Gallup & Peabody, in the courso of & convorsation on the subject, ex- pressod himsolf substantintly ss follows: Mo #aid, Chicago carrios a heavy indebtodness, to be sure. Thoro is n very large amount louned— probably from £060,000,000 to £80,000,000—on oity and suburban property, but, notwithstand- ing all that, tho roal estate of Chicago s viewed as favorably by capitaliste_to-day as it ever was, and {4 uadoubtedly as good a aeourity as ever, Of conreo, renl-estate buslness just mow fs vory dull, and, In certain parta of the olty, par- ticilarly on Wabash avenue, thero is a doprea- slon from the priges of o fow years ago. That depression_is locul and temporary,—lacal in 1ts causes, and temporary in ity effecis, EASTERN CAPITAL, In reply to the query as to whether Eastern capltal was offorcd for [nvestmont here, and to what oxtont, Mr. Peabody suld theve wae a fair supply of monoy offered by kinstern parties for losus ™~ at and 107 por oceut, but the demond for ' loaus in consider- avle sums on improved olty properly was excecdingly light, whereas the domand for loaus in smoll sums of £5,000 and under, was quite notlve ut 10 per cont, Eastorn people, he said, distrust the permanenay of whal s supposod to ba the presont influted values of suburbun props orty, and aro roluctant to make ** outsido loans " . ~tlint I8, louns on unimproved property—to any extont. Hutngleniy of money {8 to be had on good {mprov olty proporty. . FPLAUTERED WITH' MORIPAGES, #3x, Pokbpdy,” mafiéfifip % “iilen : SATURDAY, MAY 9, 1874, wr{ gonoral romavk that the oity ia plasterod with mtgagos ; that evorytuing Is gmortgaged up to tho oyes, aud that, in” short, our burdens aro o good dent licavior fhan wo can boar. What 1 yont opinion 2 iat, Bnid ho, I8 basod npon a very, very ono- sided. view of tho facts, Let us supposo acase Horo {s & man of businoss who has boen burnt out, Aftor tho firo hio has takon his insurance on his merchnudiso, and what ho was ablo to oolloct, and has xebuilt, ,Ho Lsa borrowed onough to accomplish the purpone, with what ho was able to collact of hls fusuranco, and nfter tho fire ho got timo from his Eautorn oreditors, #0 that ho could rosume, Business boing aotivo, hio was ablo to go on and prospor. Now his ronl eatate la mortgaged for half 1ts valuo, Ilo lays by ench weok A cortain portion of his profils a8 a siniing fund to meot the prineipnl of his mortynge. Whon tho mortgago is mntured, ho finds himself ennblod to pay off, say one-balf, two-thirds, or porhaps the whole of it, If only tho binlf, hie can obtain an oxtension of the mort- ung« for tho remaindor, and Lo 14 nblo to meot it boforo maturity, There is, sald Mr, Penbody, ngroat donlof talk here aud porhaps in Eastern oities, about Chicago boing mortgaged to death, but take any bueinoss man Lere, who bas a mortgago on roal ostate, Inguiro into his assets, and you will find tint 1t 15 o oxgeption, nol. tho rulb, that bo s unabla to meot his Jobility, It Is'quite truo that wo owe n great deal on mortzagea; but tho monoy we have borrowed in this way has either gone into bullding improvements or the workin, capital of our husinoss firms. ~ It i not lost. is 81l roprosontod In buildings or in thoe form of merchandiso. Thoe money Chicnzo has borrowed inin oxintonco, ocither in buildiugs or in mor- ohndise, and {s carning o gaod deal more than the borrowers sre paying as tutorost upon it. The grontor portion of tho business proporty of the city is covored to as largo an oxtont as tho loaning companies would like to have it. In fact, under present cirenmstnuces, it would xot perhaps atand much moro, Latolv the loan- ing Insticutions bave beon rathor conservative, Preferting only first-olnss sacutitios, and as nimmum an advance ns possible, Thero is a. disposition to crowd proporty with as much as it can bear, yet thoy aro alwaysable to obtain money wflun noeded. The most trustworthy irformation from the Enst shows that loaning capltal is abundant at 9 to 10 per cent, but lend- ©r8 aro vory exucting as to the values and the proportions of advance, VALUES OF REAL ESTATE. In rogard to tho valuos of Chicago renl ose tato, Mr. P, romarked that they could only be tosted by actunl transactions, Thete were few at present, owing to soveral causes, and at any rato thoy could uot bo accopted as s fair indloa- tion of permanent values sinco this was & sosson of financial doprossion, ¢ A GOOD INVESTMENT, The above contaius about the substance of MMr. Peabody’s observations on tho subject. The xoporlar uoxt tought an intorslow vith a gontle- mau connected wich & promineut loamng compa~ ny, ono who, from his positionand experioncs, is undoubtedly well informed on the question. In roply to “tho question whether Chicago proporty, * plastered with mortgages,” as it 1s 8aid to bo, way atill considered a good invest- ment by Eastora capitalists, ho roplied by n most deolded aflirmative, Tho prosont so-called dovreciation of renl ostato here, sald ho, is more apparont than voal, sinco thoro aro go fow actual tests by which to Judge, We cannot tell, without an ‘actunl bonn fido transnciion, what values are. This i8 o ‘mere temporary dovression, tho result of an un- sottled condition of finances, the absence of in- dividunl onterprise, and the goneral effocts of o panio. Instead of our being, ns some one-sided and many ignorant peoplescem to assume, on the verge of general bankraptoy, the very contrary is the fact. To us, who oughbt to know some- thing of the ‘‘inside track " of these matters, things appear as hopeful and quite as prospor- ous as ever. DPartios are, aud havo beon, sook- ing recent investments—XEnstorn capitalists and ntfin\'fl-—who are ready to mako thom whera ‘present advantagos cao bo seoured. That is, they are willing to take advantage of what wonld be considered o prossing time. But yet thero scoma little disposition lere to yield these advaniages, sinco poople have perfect confi- dence in tho futute, and believe that any de- rus&inn existing is morely temporary. No oul WE ARE LARGELY MORTGAGED, probably to tho extent of £70,000,000 or $80,- 000,000 ; but we aro not excessively burdened, and tho best proot of thiy is tho promptness with which the interest on_morigages is paid. ‘The truth is, the values of Chicago proporty are not affected to any serious extent. ‘There are very few applications for loans, either ou fivet or second mortgages, on choice proporties. - What are wo to infer from this? Chicago mon aro not backward in asking for money when they want it, ospecially if thev have E(md soourity to offer. The luferonce scoms io e rather that there is no great demand for mouey than that the security 18 not good. If we ure Ho excespively mortgaged as some pno;;lu imagino, where is the proof of it? It would surely appear in rejected applications for loans, rather than in the sbsonce of applications. Now, 15 a matter of fact, thore are FEW APPLIOATIONS, and theso aro principsily on second and {hird- (class property, that lenders do uot want, excopt with vory exacting margine. The most of the recent applications for loans on second mortgages have been on second and third class proporty, and the apnlicationsare generally based on the appreciated value of the property since the firabmortgage. 3. ANSON BPERRY, who ia the medinm through which n considerable amount of business in lending and Lorrowing is transacted, was interviowed on the question. He expressed the opinion, based on pogitive knowlodge, that Esatorn capialists havo ns much confidence in Chicago values as ever thoy had, We are heavily mortgaged, said he, but we were protty heavily destroved. There ara §2 here for every one that i8 in & mortgage. Mr. Bperry conflrmed the statoments made by the other gentlemen, that the applications for loans waere vory light, people secming to prafer to wait and lot matters dovelap, rather than rush into obligations through which they could not seo their way clearly. One important fact was wall attested, that intercst was botter paid now than it was ninety days ago. As a rule, he was ?mflt‘“ that property was taking cara of the in- orest. ———— IS IMPROVED REAL ESTATE PROF- ITABLEP POTTER PALMER, For the purposs of getting the ideas of one of Chiczgo's wenlthiest capitalists, o ‘Tninune roporter yenterday called ispon him, aud found Dim in bis office,—the man who has done so large & part toward making Chicago obe of. tho finest built cities in the world. The roporter stated the purpose of his visit to be to inquire concerning tho rates-of rental, the domand for building for busiuess purposes, etc, and began by asking: * How are ronts this year?" Mr. Palmer—They are lower, as & rule, than I havo known them in this clcy sinco the War. a lll?pn;lex—\tht haga been the averago rate of. ocline Mr. Palmer—I can only judge of the rate fu enoral, and can give no accurate cstimate of it, E!n tho cage of my own Erupurty. situated in the henrl of the city, thore has beon no material de- aline in rents: thoy are only a trifle lower than Inst yeur, for the reason that they are situated in choice locations, ‘The esme I8 true of my resicence property. Reporter—Othors are not so fortunale aw youmelf, es is plaiuly seen by the number of nnloncuphd buildings, How do you account for s ? - Nr, Palmer—Simply by the fact that there ia now in Chicago 60 per cent more stove buildings and double the unmiber of office buildings that there woro beforo tho fire. The demand has not increased in any such ratio, and_henoe some of the buildings ate unacoupled. But they ara suro to be nceded soon. It is a little dull just now, but Chicago will soon require all her biiild- ingu to do her business. Roporter—Do you intend orecting any bulld- Ings this season ? {r. Pnlmer—None at all, Ilup;yrlur—]?on‘t you find It & profitable invest- ment Mr. Palmer—Not 80 much a8 it was before the fire, Then 1 paid on my buildings an_insurance rato of Omills on the dollar; now tue rate s 13¢ cents ; while taxes nve necessarlly highor thun ever baforo, aud must continue so, until the public bulldings destroyed in the fire sre re- Placed. 1, O, HTONR, This geutleman presentod a somewlat darker vlow of the stuation, ‘The roporter made tho {uquiry as to ronts and real estate, aud Mr. Stone re&)llml 1 Ronts are away down, aud roal catate as well, ‘I'hie rato thiw year {s 80 or 40 por cent below that of lnst you ]m,);:?rtur T'o what do you attribute this fall- o 5 r, Htone—To the excoss of supply over de~ mand, Chioago Liss too many busines build- juge—mouy mare thau she had Lofora the sive, ‘Thiey were rebuilt without regard to location, ond the veault {s that none but really ohoico sltes command auything liko p ‘fair return on the lavostment, $iyen “those who now oconpy the busluess blocks find 1t difoult to pay their opt. They would ppy prompily it they could, e e bt thoy tannot, and we have to walt upen them, Tho samo s truo of ground rent, have foot loasod at 6 por_cont of its value, and even this 18 not promptly paid. Dusiness mon are hardup, Ouo of my tetnnty told mo that ho had not taken in moiicy cuough last month o pay the ground rent, Roporter—Ono would judge, from your state- mont, that proporty~owning in Chicago was not profitablo just_now, Mr. Btong—Docidedly not, Tho highest rate of roturn i 7 per cont, aflor taving out the ox- tortions of tnxos and insurance, Iofors the fire X could {nsure my business bldings at 76 conts on tho 81005 now I bave to pay 31.76. Tho in- nurauco compnnics aro in n hurry to make up their losses in the groat fire, while tho tnxes aro onormous, Another fact should bo takon into account: Those who robuilt right after tho fire poid 810 por 1,000 for buekin the wail which can now bo got for 83 or 89, Reportor—Doos the stagnetion In rents of whic?n you complain oxtend to rosidence prop- ert; n’x‘r. Btono—The rates are very low, and tho domand very light, even for second nnd third- class houscs for clorks, mechanics, ete, Thero naver was & time when o many of this clasa of Liouses wero ** To Rout " a8 now. A. groat numbor of mochanics have loft the city becauso thoy could ot got work, and many clerks aud sales- mon have boon thrown out of employmont b~ causo business was ko dull. Roporter—You don't soom to be disposoed to mince malters at all, Mr, Btouo—No, 1 am glving you my bonest beliaf, Chicago has been puftod up lnx bolster- od up by tho nowspapors, and the dull atate of business hins Leon accountod for by ** the had weather," but I tell you thero'is no use to try to conceal tho fnct that things are vory flat hicro just now. I umve lived hore _thirty- sovon years, and am & firm bellover in Ohicago's future greatness, but, for all that, it's & fact thut times are extromoly dull. Chica~ io is not alone in this coudition, "I was in- 8t, outs tha othor day, and it was worse therg, if auything. There, was positively nothing doing In roal estate, But it doos not make much dif- foreuco down thore, Tho whole city Is owned by a lot of wealthy mon who don't care whother thov soll thoir proporty or not, My, Stono, who 18 confossedly an inflationist, attributod the goneral stagnation in reuts an real ostato to the cramped condition of the money- markot, aud mauifestod o disposition to eutor upea a digcunsion of fhe effect of the Prosident’s veto, aud all that sort of thing, but the roporter, not being & momber of Congress, modestly disa- vowed familiarity with tho subject of currency in any form, and, thanking tho capitalist for his franknoss and good naturo, took ks loave. W, M. DERDY. Mr. Dorby was the noxtperson called on Reporter—Do you consider busiuess property apacinlly dosirablo just mow? Is it valuable proporty ? Mr, Dorby—Its valua is governed by what it will ront for, Take Wabnsh avenue, for lustancs, that portion of tho city whero the buildings are scatioring, property there ia not worth &8 much a8 on Clori street, bacanss mauy of the stores are ocoupled. It will be worth more when the vacant lots are built on. Now it has o prospoct- ivt}‘ valuo. B bink cporter—Do you think business proporty is +good to hold? 2 L Mr. Dorby—I think if & man wero to buy it at what it can’bo had for to-day, he would make money, In othor words, I considor that buaie ness property iasolling below ita valus, Roporter—Is that the gonoral impression among roal.ostate dealers ? Mr, Derby—Yes ; that property is boing offered at prico below its valuo, Roporter—Is there a fooling of depression amoug ownara ? Mr. Dorby—TI know nothing of it. Bome par- ties aro unonsy, from the fact that thoy owo large eums, borrowed on tho land, aud thoir routa aro not oqual to the interost thoy are pay- ihpurter——!s thore any disposition to sacritice memy 2 Mr. Dorby—TI do not think thero is. Reportor—Hay the condition of things im- provod since tho 14t of January ? Mr. Dorby—You : things look buight. Reporter—Will thoy bocorgo brightor ? Mr. Derby—>My opinion i that they will. ‘They cannot be any worse. Reporter—Aro thoy very bad ? Mr. Derby—Well, 1 vannot eay that they are. Reportor—Woro they evor worse ? Mr. Dorby—Oh, yes, { bnve scon very much worse times than these, in 1857 and 1850, Roportor—1s tha staguation attributable to the panis? Mr. Dorby—Yes, J;nrunlly. and aleo to tho fact that too much building has beon done. Roporter—Do you doubt that, in time, all tho atores now vacant will be occupiod ? Mr. Dorby—L do not. I am eatlsfled alt of them will be tenanted within s couple of vears, and that more will be buili—the vacant lots coyered—and in uso by that timo, Reportor—Have you any idea how many stores are vaoint ? ¥ Mz, Derby-“T have not. I notice that rents aro good everywhera exospt in the burnt dis- trict, and I attribute it to the fact that we have built beyoud the dsmand for stores. % PERKINS BASS. Roporter—I wanz your opinion as to the pres- enf atatus of ouilding property. Mr. Bass—Well, atter tho Fire, Obicago was crowdad like s bea-hive, rents'wore high, and there was nat room to do the busiuess of the city. Now that the town is built up, and thore ia onough room and some to spate, I do ot think it wondorful that thers should be some vacant buildiugs, There are in every city, so far as I know, and always will be. I suppose, if thora shoutd be a serious_depression in business all over the country, Chicago real estato would suffer in common with that of other ocities, and not any more, As thore is room enough hero, of courso rents haveto be roduced from fire ratos, Many paople think that this is some- thing unusual, but it does not go occur to me at all. Renta wato too high, and they have been proporly reduced, To have vacant stores is not vur{ atrange, and. as evidence that it is not, builcing is going on slowly now. Ronortor—Is there a fecling of depression on account of the situation ? Mr, Bass—I do not think thera is as much de- ression here a8 in other parts of tho country. Thot feeling in the Enst 18 grentor than it in here, Thera is some falling off from the buoy-~ ancy of business since the panic, but whether'it will improve or me worse dn{‘)uudu upon the genoral financlal condition of the country. Iteporter—~Does this feeling interfere with parties raising monoy on renl ostate 7 Alr, Bass—1 do not understand that there is auy dillgulty in ranlng moaey on good ronl - tate. It is idle to sny that thero oan be financinl . depresslon in tho whole coun- try and. not in Chicago. I do not expect that Clicngo will continue to be as prosperous as she was, as long as nll the rest of tha country is depressed finanolally. Roporter—\Wlon things around about grow brighter Chicago will march ahead ? Mr, Boss—Certainly. 3, 0. DORE, Bernr!or—la business property paying just now Mr, Dore—It depends upon its locality, Down on South Water etreet, thore is not an idle store, and in the central part of town the buld- ings sro ronted. In rebuilding the town, tho future os well as the present wnd looked at, and the properiy-owners did not want to tako tho roofs off a few yonrs hence, nndJ»u! on another story ; they put it on when building; and that 18 tho resson why there ara a grent many rooms above that are vacant, Reportor—Do you cousider it good property to own? . Mr, Doro—1t {s, if people can hold it, There is no doubt that in cortain localities thero nre moro buildings than aro.wanted., Reportor—Do you believe thero will ever be domnnd for them ? Mr, Doro—There fs no doubt about it. If this town does not want three timos s many, wo have all beon decolvod. Ttoportor—Within what time, in your Jndg—i mont, will it want them # Mr, Dote—I have an idoa that,” If thero are reanonablo grops this yeur, in two years all tho buildings will bo occupled, and thore will bo a domand for them, Teportor—\Yhoraare the poople who are to uso them to come from? Mr, Doro—3¥rom all over God's oreation. Dyellings are going up sll avound in the sib- urbs for thiem to llvoin, It is cuvious to seo how thoy aro aticking the bulldings in, dowa in Cornell and Calumot, Tiopoiter—Do the ownors of martgaged prop- orty anticipdte any diffoulty In unloading thoir Inud ? Mr, Doro—Thoge who_own bulldings that are not rented—you will ind some on Michigan and Wabaeh avennes—will have troublo, but I do not thinkthose who own in tho contrc of the town will have any diffientty, Thoso who have thelr buildings ventod, will bo avle to pay their taxos and the intorest, and tho \vnnllhr wen will ve ablo to hold on whother thelr buildings aro rented or not ; and many of tho stores are owned by such citizens, Thereason why the stores on ).(h:lngan and Wabssh uvenues ara iot rented Js, thnt such oxtravagont ronts wore askod, thab merchants wounld not pay them, and somo of them have remainod ou the West'Side, whoro thoy located aftor tha fire. They are anxious to come down town, and will do o when thereis a reduction in rents. Thoy have heon ocoupying swall ehoren, becausa the ronts were reasounble, e e — although thoir buainesd ronlly e apaco. - Tho truth iu thoro ara n nr:%‘lllr:.‘o::;: tlio contre of tha city, and thnt is_anothar oauss of troublo. Whore bofore the fira thers wam 5 shinuty, the owners could not put nup a aimilar stiuoture, because tho L\r‘ ordinance “would not allow it} aud henco small’storos in the contro of tho city aro a thing of tho past, A great many business wmeon_are muvluF down town, thoir lonses on tho West Bido linving rim out, anc moro will come over to thoSouth Ride daring the year. And they move, too, bocnuso reats have dropped. Then, tao, tho country which Is tribu. tary to Umunfiu i8 roprosented to bo in vory good condition, aud it muyt bo, from the vust quanti. tles of grain and numbor of cattlo !M‘lpfld n horo durlug the last six high prices ; and vou ‘will find, tho merchants, thnt tradoe Lins tholr collcations good. malkos tho oity, and hogt months at by quosticnin boen good ane It in 4ho ocountry that and the devolopment of the country around about Ohitago 18 golng to All up the city. “&«:zam?rmr-xnw about chiaining money on roal Mr, Domo—Thore 8 plenty of monoy hers ta le‘;:\'rl on rosl cstate, espocially improved props Reportor—What Ia your oandid view of theite nnflnn; T thiy t. Doro—I think It is quito as_good here, it not Bettar, thau in niy part of tis sounire, T am toid that business hora is bottor than {n Now Yorl, and that the numbor of vacant storos on Browdway is roully surprising., I approhond that the delayol Congrosa in log Alating on the finpn- cinl quoation hus had & good deal to do with the stagnation of businoss throughout the councry. UNRENTED STORES. . In order to obtain something definite as to the proportion of vacant storos, two miroots woro Aolected, reprosenting, porhaps, the best and the poorast businoss proportyin tho oity, Thono weye Madison street, from the luke to the South Branch, and Wabash avenuo, from VenBuren straot to the river. A careful couut givos the following result: On Madison streof , out of 255 atoros, 11 are for rent, and thoms aro at tho east and wesb extremitlos of tho streot, the stores In tho cantre bolug all ronted. On Wa hash avenue, out of 180 stores, 10 are vacant and for rent. Tho cumparatively larga proportion on tho Iattor straet is due to tho notorlous do~ pression of values iu that section, which is Rroat- or than auywhero elso in tho city. Itiseafo to 8ay that, in tho contro of the business part of I city, and, indood, overywhora oxcept on thi yorge, not one ators in twonty is for rent, an thoso whiBl are vmpty aro rapldly fllting up. —_—— CALIFORNIA LIONS, An Arkzonn Traveler's Account of His Encounter with Seven Wild Ronsts. A gorresvondent of tho Arizona Miner gives tho following curlous account of advonture in tho wilds of that Tesritory, “On my way from Proscott I stopped for ‘tho night at Old Camp Hulspal, On the morning of the 17th inst., storted oarly, in order to take advantago of tha little frost on tho ground, which made it bottor traveling over tho olny flats that are found nony t;unl Rock. I ronchod tho summit of the Aztoc Puen quite ently ; the wind was blowing cold and the air waa full of suow, and I pulled a blanket alsout my face aud urged my horse forward as fast a8 I could. I had not ‘naveled ono mile from the summit of tho Pass when my horse stopped; Ilaoked forward, and in tha road, not fitty yards from me, I saw ' twe congars (commonly “called Callitornia lions). Ona of thom turned around 8o as to Bhow to the bent advautage possible. The othor, n smalllor ‘ue got down closo to the ground, and acted as though Le intended to spring ot my horse, 1 but no time in gebting out my plstol, and, at %000 us my horso way quiot enough, fired at the areoping monnter, I uundorshot my mark, The ball struick a rock about ono foot in_advanco of the creeping lon, and glancad off with a sharp, whistling nowe. At~ this moment I observe flvo other monstors of tho eamo specics riss ug from the dry grass, close by the road-sido, Now, ull soven hopped off about twenty paces ta tho Tight of tho roal and nmppmf on opop ground, within sixty yards of me. Now, thie was bl firat hop of tho sonson, and hors was I, au_uninvited guest; but I bas:ily took itoms, and, as it 1s oustowary to describs drees and ap- pearanco at fashionable hops, I will racord item a3 I took them ; threo of the lions wers very large, in fact, monsters of their specios, and would welgh at loast 300 pounds; the others were smatler, but I should judge the smallest to weigh at least 100 pounds.” 1t being midwinter, furs wore all the rage. Tho three largest of tueso feliows woro a dark gray bordering on a brown coat, halw o liztle lightor on their sides 3 in fronz and under their bodies was_white aud appeared liko white lace or down. The fourth wag & littlo smaller, and his dross was a littlo darkor in color. The thres amalier ones woro dressed in o dark chestuut coat ; on the sides 1t bordered ou yellow with the same lace of downy trimming. 'tho dresses glistonod as they turned, and resombled changenble silk; their move monts wero with much grace and ease. They all wore tails at least four feot long, and full 8 foet moro than = lion Liad any use for, but, I presume, long tails ere fashionablo in those parts, if not each lion or lioness had t¢ earry his or hor own tail, and it was not for m¢ to say how long o tail o flon shonld carry. One of the larger oues, which I took to ba a mothor of part of tho group, sat down like a cat; she raived lor groat paw and licked it, and thoy rubbod her car and side of ler head aa & oal would. The movements were awkward bug oasy. 1f she way washing her face she should have done 5o befora coming to the hop, 'I'he second lm"e one sat very quiet and looked on, The utd lnrgo oue, which I took to bo a male, kep( alitslo in the roar, aud appeared to be uneasy, as thoush Lie expected reiuforcoments from an- othor dircction, and 1 carnestly hoped that no others would "appesr, as thore wers alroady anough for tho accasion. ‘The fourih, a lively fellow, put his big pawe ou & large pino root that pro:ruded above the ground, and raked it down as though he was springing a little bluff. The bark flew in every direction. As o soratchist this fellow was o docided succos, At the -same timo the thiee smnll oncs lav down close to the round, &nd rivéted thoir eyes on mo or my horse, and commenced crawling up as though they would like g more intimate noqxua!nhuca. 1 had fieard that if one looked a lion in the face it would turn away ; but how could I look threo llons in tho oyo'al the same time ? * Impossiblo. Now I would " like to have compromised thig whole matter by glving & horse, but my borse was tromb]iuf withh fear, which plainly told ma that he would not stand to nng bargaln of thia kind, Tlooked fora eapling, but they do not growin this park of Avizona; none but large pinos wore in wight, aud all the lions in Arlzona could not fugiten mo up & tren four (oot iu di= amater. Lo dismonnt L wounld maks a dead shot, but then thers would bo six lions left, and Iafoot: This would not do. Iresolved to try another shot, so I got my horse to face tha gawo and “agaln [ fired. As my plstol oracised the foremost omawler jumped about six feot in the nir and’ struck on his foot, and bit his sido as thouzh he had becu stung by a bee. At this tho largo onea moved on toward a brushy thicke: and the smallor ones followed, As I furned my horso to 0 on I say approaching me thres lhorsemen. Lhey came in timo—none too soon, I nesuro you. Thoy lad scon the large tracks in the road and heard my ghots and burried up. I told them of what hud happened, aad, a8 thoy woro well hooled, and nppunmd to bo men that had weon somotuing of frontier life, 1 sn;iguutod that if it was game they wanted they would find it in that thicket. But they all most emphatically denied lmvxu(i lost auy lons. 'Thoy hardly waited to lear all my gtory, but passed on. As I started oumy way my horse wauted to run, and ap- pearod very fresh : previous to this ho seemed 2 little *played® and tived, but ho would now and then look” back and then ‘git. Tor tho last tnolvo doyn my Lorse can gos & lion whenaver he wauts to.” 'Tne fact ie, ho L gat what is called lion on tho braw, It lio doos not recover soon T will sgll Lim or trado him off for a mule.” j———————— 'A Remarkable Ouse, From the Mitan (Mo.) Gazette, Tho !_n“mvugivu\y redinrkable case of apinal meningitis bas boen raflmrlud to us by a psraon who is convorsnnt with the facts: A little girl, about 7 yoars of age, daughter of William ‘Cuckor, who resides in Clay Township, in thia county, hay beeu aflicted with that droadful disenss kuown as spinnl moningitls for 106 days, duting which timo sho bas not turned herself npon tho bed. Since the tenth day of hor slok- noss sho bas had an insatiable appetite, often orying for food ju loss then ton minutes aftor holng supplied to horapparent entisfaction. Sha was alive when lust hoard from, but no hopes of hor rovovory aro ontertained, Ior form is wasted to a perfect akulaton, A Curious Story. There hae been a ourlous story going the roundu of the London olubs .to the eifest that the Prince Imperiul, wenry of nmiaternal control and Woalwiol disoipline, “ond o impressed by the dlsplay of Frenoh feoling at thie receut coloe bration at Chisothurst, had suddenty determined to start for Prance, and to imiato lilu father by #uddonly landing at Boulogno and appgaling to thio symputhies of tho flshwomen of d‘:‘n port. ‘I'hvo ntory sayn that tho Prince notually got as [y a8 Dover, but.tha} ho was thero atoppod--by: faithful ndhorent, whoss aga and exporictce wore sufliciont oxouso for q 0 I8 gl Fignoh Spthusiasm for ¢ 1o ;!:c;y “fi%fi;‘[‘u