Chicago Daily Tribune Newspaper, October 5, 1874, Page 7

. PANICS. Prof. Bonomy Price on Come morcial Crises, Hig Address Before the New York Ohamber of Oommerce, How Panles Are Caused, and How Thoy May Bo Prevented, What Banks Are, and Why Bank= Notes Are Not Money. From the Acw Tork Tribune, Och 2. The moeting of the Uhamber of Commerco yostordny waa distinguished by an’ extempora- boous addross by Prof. Bonamy Prico, Prafassor of Politleal Tconomy at Oxfovd University, upon panics and tholr oauses. Tho Chambor was woll roprosontod, William E. Dodgo, tho Lon, David A. Wolls, Willinm Butlor Duncau, Gaorgo 8, Coe, Goorgo Opiyhe, W. M. Vermilye, Pater Cooper, Nalhan Obandlor, Charlos H. Marahall, JTames 8, T. Stranaban, aud Bimon Do Visser being amang Mr. Dodgo, as Ohnirman, intra~ ducod Prof. Prico aa ono whose attainmonts in the study of Snauclal questions woro woll known, soying that an oxpression of his yiews upon tho spasmodic erisos in commoreial story wounld be doubtless welcomed by the Clember, Prico's addross was long, and was listencd to ‘with great attention. o spoko na follows : TIE ADDRESS. & Mn, PRESIDENT AND GENTLEMEN: you vory warmly for tho bonor you have done me in asking me to spoak to you, and 1oxe tremely rogrot that I was not aware that Ishould bo asked to discourse on this subject to-day. Had I known it beforehiand I should bava writ- ten out a locture which would have prosented tho queation hetter than I can now, But I sholl feol great ploasuro in touching upon the main points, and it my doctiines ave 1n an cliallonged, it will ba only o groat dol that the dificulties urged agaivst it should bo ‘The ucntion then is ** Crisow.” ront disturbances of the monoy- market, diffiqulty of obtaining advances, high rates of discount, who is° sound and who is known, whoso money is safe, whoso Is unsafo & 1atter of great uncortninty, Just as it was £con in England in 1806, it is & timo_whon {hoso who aro tho sirongeat are ox) formidabla dangors. slitution in London moro oxposed o poril in 1866 than the great London and Westminster Bank, the Jargest in Bogland, and onv of tho ‘Tho canso of tho crisis was Iy thavthoso vast bodies of intrustod funds to this fustitu- tion got into what may bo callod o pany In (Lt stato of wild al rushed for iheir money, vory many catohing tho contagion, which became moro catehing becauto it was unrengonable, stirnng than alarm, which has no definito cause, whioh does not know what it goes upon, which, thereforo, suspects any canee of mischiof boo cavso it has nowo thab it could put ats fin ‘Wo Lnow tho agonies of that timo. Jmow thai ibo gresiost frms, espocially old banking firms, wero in infinito slarm, thono presont. osed to the moat probably no in- sblest couducted. cormon word, Thero in nothi ovil might rago was absolutel wo know and have soen, in England, {hat the fathors of tho city, the groat banker: and wiso men, sat in council alt night and nsked oach other *Whatio tho cure?” casily ourod by sitting up all night. Bay {rom their reocontrenco that they come under somo phyeical law; aro a poriodic visitation lko o comet wilh n burricano is givon by somo a8 & law of tho ‘money mavkot. Younrebound to bornined overy ten yoars. Youaro not coneclons that you havo done any wrong, but it ia simply » groat typhoon raging upon & gront number of sgitated minds. Inthingo? a1t nlaw of bueiness (hat amounts to a pbysical law? I it oxtraordinary phenomonon, 8~ very much eoounial period. is, it cortainly is here would bo & vory unploasant resulb for if it s law ivheront in business thoro 18 no Wo cannot cure typhoons and equi- dos, 1f thoy ate tho law of the monoy- morket you must reduce your sails, stand by your holin, and you may possibly pot off with tho lues of a mast or two. liovo nothing. ut of all that I bo- 1 boliove tha causo of these pan- ics can bo stated, and when you know the dan- ger and the causo likely to disturb you oan take proper precautions. Now it is not the maguitude of tho loss alone yhich constitutes a crisis. DESTAUOTION ALONE NOT THE OAUSE. A bad harvest in England is n loos of £30,030,- 00 ; that is, in such a caso you Lava gol 1o buy or 'procuro 230,000,000 worth of com twico you have tilled, is not ‘matured, bave gob to live, €0 you must buy it from'tho strangor. But that produces no panic, no finan- togony. Ivisndend loss; a calamity somo- timos biggor than a calamity in the monoy-mar- Buy it does not generato & financial ntorm, ‘War ia tho moat destructivo 1t is n deliborate work of mon to destroy ; they destroy food, clothing, ivop, ehilps. Nothing destroyn lko way, the most uneconomical {hin; war doos not necessarily pre thin torrifying foar which we know accompaniea a burricano 1 London. tako o cotton famine in Eogland. It wes toy- Weslth in thono districta was paralyzod Dbecause Americs had no cotton. mon bad no_wages, Then » bad war, thing in the world, riflc loes of monoy. inz nothg ; consuming, buying, but not oar i not onumerated as one of atorm, Thera- o wo don't gat, by mete dostruction alone, into » roign of panic. Then again, nuothor curious thing. hoon has this charaoter : & up tho wator terriblyin a particular 0 nelghboring wators aro doad calm, At tbo time in '60, in '47, and othor times, when money-charges wore ab 20, whon pooplo conld pot get advances on tho best sccurities, when tho bank liad to gay, ‘I can't,” all this timo the market for advancing monoy on egriculture squires and country goutlomen, was &o that conld get all thoy wauted at £ per cont. abolutoly historical, ‘I'ieroforo theso couvul- giony have eomething vory poouliar abont thom, of tho storm fnits natlonal im- stinction to individnals, is its benr- ing upon bnaks, upon discounts. por_cent, though that is bad enough, butitis the impoeujbility of discount which constitutes tho tersiliv agitation and tho Modarn trade, o3 you ara pon s very peculiar it ja in Now York ax in England. ‘Tho characteristic is that it lu car- tiod on with other peoplo’s capital, not tho * traders’. Tho tradors are not the pooplo who rovide the capital for their businoes. Bomo oy do provide; tho bulk certainly not. Tho ditinetivo peaulinrity of modorn trado is that it ls carried on by bills, and bills have to bo dis- sounted, because n bill means, *' I cannot pay ay this ui threo months.” The oods are glvon, tho salo is comploted, and tho man who gelld bolds in his hand s picco of panor h eays that ufter threa montbs o will have monoy, but not bofore, much on_rate losa to the nation. well aware, 18 carried on n; I Layo no doubi The man so ci to go on with business, which Lo cannot do if he hos to wait three months for bis funds tocome in. i workingmon to be paid, or his ship to be sont awny? Thatis douo by discounting bila at banks, and the uational dtrain of tho crivia is its eneral trado of the nation by iscount markot, This discount- ing takes place in banks, sud, thereforo, wo now 800 a locality of tho storm. It othor vounocted with banks, WUAT 18 A DANK ? Danks aro a peculinr institution, groat many of tho eminont bankers’ of England 1 havo psked Dircotors of banks, the ernor of the Dank of Englaud, and of that kind a very simple question ; mot only ona wan, lead and gope now, who BuUBWOr 1o thiy question ; a bank? and whot does & That lics at the root ol notion upan the sceting upoun the is womolow or £ tho quention of crinen, [ have ouly mot on, Mr, Potter, the foundor of tho_groat London Joine Hiock Company, who eation. I kuoW what a gro- lonla iu candles, iu ton, If T ask such o mon not tho slightast difll- could angwor that qug know wha{ & fruitor ia, what hio deald 1o ho hos culty {n answoring my qu ontloman In tho room favo r 1o witls A pause,] Can't unybody toll i & rop}, mo? Bome of iy tronbloavine Zallow fo 3? %33 &:hkari:o . you o] e tlogua? [Leughter] Xou draw cheocks snd yon THE CHICAGO DAILY TRIBUNE: MONDAY, OCTOBER 5 1874, pay thom, and that is enough for you, Itis marvolous it this niluoteonth contury that of such & great profossion, miuch "o groat branch of human activily, thore in no defl- nitlon, excopt perhapn in my writlngs, of what n bank is and what it doald ln. Dt it 15 csson tial, in ordar to understand crises, to understand what banks avo, as they sro phonomona of bank- ing, Thoy aro tho Chineno Son of bankiug. Sow tho gontiomen will probably” say it » houker deals in money. Isay, No, Idony that flat. A baukor le not n denler in monoy. 1t ls not an affair of money. I daro say many gontlo- mon will flro nt e uow, Bhot for shot, 1t 15 all fair. [Another pauno, waitivg for a roply.] Woll, gentlomon, you don't scem rondy for n fl(zll‘. Well, we will go on, thon. I maid in Zvazer u oar ngo that n bankor did not dosl in moucy ubove ong-thirtloth of his business. OF courao, in ordor Lo go on fo that computation, I must undetstand what monoy iv., This s au- other ugly questios, What 18 monoy ? T gavo a lecturo befora tho Chambor of Commorco of Livorpool on that queation. I will, in pasaing, teko tho word monoy. It comes from the 'I'omple of Juno Monatn, in Home. It was tho mint of Romo; the mouoy was stamped plecos of motal, genor- ally known by the namo of ‘coin. Nothing in monoy but tint; oud the Romaus bad no doubt about it, becauso thoy had nopaper mouey, I am vory williug, howover, for this disonssion, 1uclude tho bauk-notofnsmonoy. Will any gen- tieman favor wa with tho broad distinction be- tween tho bank-note and any cthor picoo of poper oxprossiug dobt? Why is not o chiock money? ~ You kuow, I eay, tho bauk-note itsolf {s not moncy. A promise to givo thing I not tho thing {taelf. 'Chose who call paper money aro in this mous: thoy ssy thata pioco of paper saying, Y1 will pay you tho oncy whon you ask for it,” or *whon it {8 conveniont for mo,” a8 in the case of your curroncy, is money. Papors of all kinda are moroly titlo-loeds, nothing olso. Lxcopt whou you aro passing couvertiblo ourroncy Inws, pleces of paper nre moraly writ- ten cortificases to go to tho Judge aud fury with, and to sond a Bhorilf to yon if vou don’t give tho coin which that calls for, Thoy are evidenao to praduco bofora n court of law. WITY DANK-NOTEA ARE NOT MONET, Going back to my question, T agnin ask yon, and really wish to bo favored with an answer, Vhat distinguishes the bauk-noto no thnt, in the sccondary genso, it cannot bo called money, from all pleces of paper, much aa cheokn, billa, and athor ioslramonts of that kind, which I whotly deny tho smallest possibility of giving tho titlo of money to? Whnt distiuguishoes thom? Tho anonymous character of tho benk-noto. If I tako a man's chicck for ny Lorso, ordoring Jonea & Co, to pay Mr. Prico £84, o hns not got my horse yat. I have got to auk who o ia aud the likehiliood of Lus hinving L34 nt Jones & Go.'s. That money doos not ciroulate. That s not money. Therofore I como now to what I meaut by veying what I did in Frazer's Magazine, Mr. Opdyko—In what clasg would you placo the paper promises fogued by the Gavernmout of tho ’[‘]mtad States that aro mado lepal tenders ? Prof. Prico—fhey como under the dofinition thpt I havo givon of miouey in tho sccondary nonve. Thoy roll about just like cotn, and aro taken from hand to hand. I ws3 saying that I eatimated tho monoy in neo by o banker &8 ong- thirtioih, A littlo timo aftor Sir John Lubbook, of Tobarts & Co., analyzod the rccoipts of £10,000,000, of that firm, aud fonud that in that antonnt L8 in L100 wero cash, and 10 ehilllugs only were coin, ‘Lliero waus only 8 por cent. #nid it was one in 30, and it turnod out to be ono iu 33, So brokers do not deal in monoy. If that {8 not their busiuees, what are thesa ninoty- seven thingy which are thoir staple? What is'n banlke? Tho answor will dopend upon theso ninety-neven things. They aro, ono and all, debts Lo calleat ; proces of papor pushad in upon tho counter, all implying that John and Willlam and Dick aud Iiarcy owo mo o lot of things, You go snd collect those debts for me, Tuab is o bonker's busincse; to colloet pioces of paper embodying dobts, and to’ collect thom. ‘T'ie naxt thing ig, whnt docs a banker do ? Doca 116 o and gt the monoy which o Lo a right to on all thes places of papor? Notn bit. 1lo is not golug to bo it to thut botheration. What ha does 18 thist A cotton man bag juat thrown down £5,000 worth of bills upan tha gounter of tho bank, A mun whe {5 & dealey in mik tims up five winutes after aud says thin: * L want to buy silk, but T bavo not tho *wharowithal.” 1 will Lold you liarmless, T hayo got sacmity, but sccurity not availablo to-day.” "What doay tho baukordo? e eays: ‘‘Give mo the soouri- tiea; you don't want to soll them: a cotton man bas just givon mo -£5,000 worth of cotton billa; 1 kuow he will notdraw any chocks upon these for at least & month. Go snd buy silic for a month, and I will meot your checks,” o banker has dobta to collect; nud how docs Lo collect thom ? By croating fresh debis in which Lo is tho londer. ~ That is bauking. A DANXET ESSENTIALLY A DROKER, Idefino i my Look abaukas an institution for tho traneforring of debin. A better one s, an institution for the transferring of eredity, but astill bottor onois tho' following, which 1 pro- fer: A baukor is easentinlly s broker, Ihal is his truo charactor snd noluro ; an intermediato agont botween Lwo principals. = Iforo ia his rela- tion to the cotton man : ¢ You have given mo £5,000 torth of cotton bills to collect. I under- stand from your babits of Lusiness that thesa Dilla will ba with me a mautk, I am rosponsibia to you for this, but I know L shull havo it at my hand.,” To the ofbernian hoiga creator of debts, having lent him £5,000. Whot has he dope? 'Thomau who uold catton has purchas- ing pover. lio bns e power of buy- ing £6000 worth of pgoods o over tho town. o virtually eays ta the bauker, “I don't want to buy siytbing for o month, and I shall not asl you for tho_proceads of thews bills for o month,” But he utill has the power of biying £5,000 worth, and_ that powor o transfors to tho banker, and the bankor to tho sill merchant to buy silk. Tho trausfer {rom tho bauk to tho sill merchant is buying power. 1t consiats of tho billa of cotton which went from his etore, which must be veid for, and are paid forin ailk. This s how I got theso great cou- clusions : that o nan who sells, by tho act of solling can buy, because nlf trado aud all selling is tho exchango of cqual goods, Thatis tho moaning of sho word eclling. ‘The baukor is en- abled to buy by virtie of tho cotton bills, and ho Duys #ilk ; vo the silk ahanges hauds by virtno of tho cotton. The banker i8_morely an inter- madiato_agont,~a broker, Tho bankor says, I will find somobody to use your buying power.” The cotton buysthesilk, Thero is & tremondous number of convlumions to coma out of that, Whnt cawmed out of thia? The ax- plosion of that delusion which infosts the City of London and tho nowapapors of England, that boanking is_an affair of curroncy, an affair of monoy, and that when thero aro disordors tho curais in eurrency. In tho full light of tho mnelconth contury, {his 1w bolievod by overy trador in the United Kingdom, and so, whon the orisis comes, thoy wako tho Chancellor of tho Exchequor out of his bod and say to bim, * For God's srko lot tha Bauk of Eugland issio moro voles, and wo slisll bo eaved." Banking hias nothing 1o do with monay, excopt in one singlo poiut. I cannot_thoroughly oxplnin that now, If you tell a bauker to issue notes, Lo of courso kolls thom to tho publie, Livery note that is iesucd by the Dank of England, or the United States Government, or by & private individual, is sold. 'Pho onstowmers of this bauk aro the buyors, }lo collects their bills and ho pays them in his billy, 'Po thet ox- tant thore ia a rasourco in tho banker who ‘lenda upon discount. ‘Chat oxtont, we Lnow, is lim- itod in many casen, It has disappesred'in BEn- gland from the country banks. 1n tho caso of the Bauk of England, ikat powar of solling notos to tho publlo s Jimited to about .£15,000,000, By that means it hao the power of lending upon discount, But otherwise_banking hau nothing 1o do with tho curronoy, It ls verytruo that the Dawker s bound o pny Lis _debls in curroncy, but 8o am L Ko are Larmg Lrothers ; Ho in overy trader in tho Kingdon., It i perfoeily possiblo {tbat to-morrow morniug at 10 o'clack overy crod- itor in the Kingdom can ask for gold, Ho would Lavo to tako n bank-note, hut ho ean get tho monoy from the Bank of England, Noir, what is the good of all this Investigation? What roforonco Las it to orisos? Thiu: that, aa I said beforo, a4 banking Is the region for tao commoreial tflphoflnu and burrieanes, it 1 cnron- tinl to geo tho causca that act upon banking, and it j8 not from such rubbinh as n cortsin quuntity of baulk-noloy, vertain things in the L8 in tho hundrod; it fo from thase uinoty-moyon things, nud thoy ave goods, aro properly, aro goods sold, parted will, und tho contract ox. pressod on pieccs of papor 1o pay money on do- mand or wt the tine specitied, That iy tho forco of banking, aud, therafors, gontlemen, if bank- ing 18 abutdaut, 10 1u_becatisq many goods havo been sold, and the sellors of theso goods do not want to buy much, Lot mo ropout it, Banke ing 18 onsy, digcount is omsy, iho xoto of intorust {4 low, In tho proportion that men havo glven —awny tholr goods and aro not disposed to buy to n correrponding ful} oxtent of othor goods, Then bonkers have much tolond, But whon thin is tho othor way ; wwhon tho farrmer Las #pent ail his capital in car~ ing for his faum, and the bad and naughty wonthor comon fu August, sud tho corn in spoil- cil, then the poor tarmor 14 in vory ditferent cir- oumstances with his baukor, With s good hor- vost he han plenty of time fo wait, When ho bas no wheat, or little to well, ho gocs into Lown —porkapy bas Lix 0ld Lorso to Tuplace with o now ouc—and ho puts nothivg in his banker's Thande, and very possibly e asks hikm to lend him nioney, Look at the affoot wupon tho banker, Illg monns axo xeduced becaude ko farmor de [mnllud nothiog and porhaps wanted monoy, aud 0 whom ho must lond. That is abuudaut moans for banklug and poor moana for banking, CTHE PHEVENTIVE OF PANICH Mr, Dodgo—Tho point we would liko to got ol now ia this, Can suythiug bodono to prevont thio panica? ot Prol, rico—Thon I must paus over to tho othor side, aud tako up the silk man, The bank- or hay £6,000 to collect for tho cotton dealer, and ho colleots It by giving it to tho silk man to buy sill, If tho silk man is dulufi & good busi- noss, there is no destructlon, Whon pav-day conios ha has sold his sllk, and thoro is uo disns- ter. Tho buying and the wolling equalize ono auotbor. Bupposo tho bavker lends to a gonilo~ man of great cstato, £10,000 a year, whoss land 18 capablo of & groat doal of improvomeut, and who wants to n‘.roll‘: 400,000 upon it, The bavkor is matisflod with =~ the molldity of iho B(&l}llro. nad londs him tho .£G60,000 to drain lis laud with, Tho man_ goos on dralulog, and wha takes place? ~lo putslaborers to work, ‘Thoy eat, thoy drink, they woor thoir clothos out, and 8o on. ‘Tho work way toke a couplo of yesrs. What hag beon golng on? A groat doatruction of propor. ty, which is not raproduced, If you wora to mot all the ibhabitants to making holes In tho ground, and thou to fill thom up again, the ro- sult would bo that_attho ond of the yoar thoy wouldall sfarve. You would want to get your cofliua ready, becauso you Lave baon oatiug up all your stotes, and whien tho operation la avar you_lave nothing ab all. Thon Low ja A Bankor In bis position, Tho Squire cannot pry. s draining bins not beon proditetive, Tlo pro- duco will” como five “yeara honco. b tho .food and elothing “of tho warkmf- men bos boon used up. Now, th making of ratroads, warohousos, beautiful towns, otc., aro not foollsh thiugs, but they aro things which destroy end do not ral)lnnu, and that is poverty, Povorly meana Lhat thoro aro no foodn Lo soll,and iwhen thero aro no goods to acll bete aro no gooda to buy with, The banker's renources fail” thovofors, ‘Thon como tho crisos, Thoy aro tho consequonces of the destruction of [unporty which is not replacod. Thoy nro thio tuo childrou of poverty, and that kind of poverty which producos crisos Ia nover moro foptered than whon Lankers encourago nsoful things, things usoful iwenty years from ihia day. Tho rallroad doce not replaco its monoy for fifty yoars, If tho actunl outlay in £10,000,+ 060, tils "£10,000,000 spent in food, eto., aro not roplaced for fifly years. Tho nation is poor for {ifty yoars, Now go on wilh ‘that poverty, and the bodoviimont of the money-narkot will go on. Tho broker botween tho tywomen finds that his doposits aro coming bhort, which means that thors ia no longer any ealo of goods, Why? Because you heve boon destroying the wenith of the country iu n way which will loso it for fifty years., Itis no better, as f2r nuy hanking ln concorned, than if you lind ** chucked * it into tho nca, ‘hore- foro, thero is a deficioncy of properly mado. A mombor—You eaid, when you atnrted, that pauies woro not - the result of nudden lossos, Now, I understand you to say that this dostruo- tion does produco theso criues, Prof., Price—"the_differeuce s this: In tho enso of tho cotton famine, in the enso of the war, in tho caso of tho deficient harvest, thero is A doflcioncy of consumption. ‘The peoplo who neve got to spond, spend less. DANGER OF BAILWAY-JAKING. In tha caso of tho railway-makig, yon go on drinkiog champagne aud clarat, bt “whon the Larvest is bud, up goey the prico of wheal, and tho unmber of paopla who spoad i Jess. A wembor—What is tho duty of tho banker under such circumstances ? Irof. I'rico~—If Lo bas lont In such a way, ho must sufler. A membor—As a system, what is to bo dono? Pref, Prico—[ wad coming to that, Itls charming question, _[Laughtor.] I suspect my friond Is 8 bauker. I will diaw tho moral. To what oxtent may o nation carry on theso ex- cellent expenditures, without getiing info groat ombarrasemont ? To what extent may tho Sqiira drain bls land? Can anybody tell me? 'len wen i my Oxford class would bave answored, Nr, Dodge—If tho Squire, instead of putting .£60,000 ju his draining, lad spent in o certain amount eo as to incroue bis erop, he would have beon wito, > Prof. Irico—You may easily put £10 an acre upon draining. You may possibly noxt year gof 4 bushols of corn more, er. ‘Dudg\) —T'hen hels nbout £1 in £10 onf of pocket. Prof. Pricc—That is it. Now, whera sre our savings? What do wo mesn by national eav- inge ? ember—What wo produce that we don't deslr AMr, Dodgo—We think our praitle-lands—our richogt lnnda Wast—would bo vory productivo if thero yoro auy means of gending the resuits of tholr production to n good market. So tho rail ronds giva 10 theso lands o vast valuo, Prof. Price—I do not dony that the Squire is doiug a good worle; but $ha quostion v, Can ke do it that yoar? 5 A nomber—Ilo might havo got an aceumula- tion Leforohaud. Prof. Prico—What do you mean by the savingn of Now York in ono yoar, nud whero aro thoy? Ay [riond has well said that it is tho surplug of what you mnko in compnrison with what yon consume, {f £100 more, you have thal amount to put in railroads, DBub if you go boyond that amount yon do wrong, ‘Tho gavings of tho na- tion in tho excers of the things it makes in com- parison with tho things it consumen, aud that exesng, i€ it emplogs it wisely, will make the ua- tion richer. Dut, if it *‘chucks " it into tho ses, it will rorain stationary, 'Tho sceret of crisen is tho_building, boyond tho savings, of usoful and valusble wotka, 1I you go upou tho roason- ing that it {s n fino hing to open the Wast, nad you in that way spond £1,200 iustead of £1,000, You ara in a bad scrapo for the £300, 5 Al;nomhor-—b‘uppnuu you hava tho .£200 bo- oro Drof. Prico~I includo all that as & part of the Eavings, The operation of the mouey market I that a1l eatch tho sanguino fooling of peoplo who get tleir profits by the upsaod downs of slinras, he natlonff pots involved in things which it cannot pay for, Your Amsriean railways remain balf mado. Al that has been #pent upon them is Joat property, gono iuto fol- lows’ throatd, worn out upon thoir fect. You have got an Incomplote railway. 'Then comes 1 tho baukor ; bis peoplo have o goods to sell, rudthe railway is producing nothing. Now for tho woral. Not a stupld rule for bankors to lock up their gold. Not iho rubbish thoy ssy sbout curroncy. What is Lappeming to goods? Is tho harvest goiug to bo bad ? Don't encourago new railways. It thero ins prospoct of largo crops, thon yon may bo much more liberal. Tho moral to tho bankors Is, Look 10 the siate of thinga made, the quantity of broad mado, clatbos, ehoes, ote, Somo banis by may, “Am I to look ab'allthat? Am1io waich the progrees of tho nation and know what evorytling means? You aro nos a practical fellow, Yon don't undorstand tho banking world,” Verywol then, Thon comes tha whirl- wind, Don't blamo mo. It scems to mo just an thougzh yon_doliborately said that you would rathor have the storme than do na I say, Tlis finished the addross, J, 8.1, Biranalan offored a revolution tendoring tho thanks of the Chamber to Prof, Price for his justructive dis- courso, This wos adopiod, aud tho moeting adjourned. pe . Xrehistoric Iemainy tn Occanin,. It may be romembored, aeys the London Academy, that whon Magollani discovorod the Philippinos ho was astonjshod to light upon an Arabig alphabet in uso at Cabu. On inqguiry he found thay somowhoro about tho ninth contury somo Mobammodan pricsts from Oman had Tanded horo, aud taught their natives tho Koran, Ouly somo fow isolatod facts ara kuown con- corniug the !mvulnuuu of the islands of Oconnia bufore tho aiscovery of Jiuropean voyagers, and nuy addition to our knowledge, howover amall, Iy “theroforo of groat valuo. ~ A Manilla paper aunounces tho discovory of #ome prabistorio ro- mnins, ln&m‘cnuy nkin ‘to those of Mozico aud tho Unitod Biatos, on the litilo islands of Itota and Tinlan, which form part of the Ladvono or Marisua lslands, Wo have nu {pt but very seanty particulars of thoyo antiquitios, but they nrpm\r Lo consist in oach cngo of two sorios of elght ntono pyramids, standiug in two rows, at Intorvala of *12 feof, tho buse being 12 foo square and the bsight 30 feot, Tho summil is crowned by a kiud of large cup equal in dlametor to the diagonal of tha baso. Unfortunately the doseription of theso pyramids given us loaven much to bo dosired, but thoro is littlo doubt that thoy belovg to an go_ antorior to tho Hpanish conyuest, and that thoy catnot possibly Lo nueribod to a raco ab all similar to tho vindictive and degraded aborigines of the archipolago. Trom tho present description those monumonts would seow to have much in common with the prohistario romains found in Bexico aud somo of the United Biatea, —_—— Smail Colnw, A popor goya that tho Paris Mint las juet coined 10,000 franes' worth of centitnos, which wera immodiatoly put in ciraulation, the laok of thiy small change causing o groat projudico to purchasors, Although this Is gyravely aunounced, remari the corrospondont of tho London Z'imes, it rends like & jocose inventlon, A contimo s ruther logn thak tho tonth part of a ponny. Al prenont Vaily pricos, what can be obtained for #uch sumn ¢ Howover, there nsa aotuntly thingy sold in Franco st rates which yondor eoina tanallor thaw & gou Weetul, aud lende the fgane alluded to, RAILROAD NEWS, The Roeliford, Rock Island & 8t. Louis Read. Meeting of Railway Man- agers at New York, Miscellaneous Items. ROOKFORD, ROOK ISLAND & 8T, LOUIS. 18. The Rockford, ock Island & 8, Louls Rail- rond, commoncing at Bterling, In this Stato, and onding ot 8t Louis, haa boon in troublo sinco Ita Incoption. It was comploted in 1869, and was found nt that time to bhave upon ite londs a bondod dobt of 0,000,000, whilo tho property was worth about 83,000,000, This ox- orbitaut iudobtoduess was brought sbout, the bondholdors now olaim, by the spaculntions of the partien superintonding its construction nnd oquipment. Tho first twontg-threo mouths of its manago- mont its carninge ovor sud above runniug ox- ponsos woro nhoub €4,000. About this timo, July, 1671, the present managemont obtainod possession by purchnso of a mnjority of stack, and R, R, Cable, of Rock Island, was olected Prealdont. For the subsequont twonty-threo montha tho net carnings, aftor paying running expenses and rentals, woro nearly £400,000. Of this sum over $380,000 was paid as intorost on tha bondod debt. Tha rond, although apparently prosporous, aud boing in such shapo under its nioy Inanagement a8 to inspire public confldence, fvas by no menus ovor its trouble, In 1872 the managerent of the rosd mado A PIOPOSITION TO TILE CREDITONY for tho reduction of tho iuterest, with s view to adyaucing tha condition of the Company. Lond- holdors roprasenting 98,000,000 accepted tho proposition, and agrcad to reduce the purcontago of jutorost ona-half, and take preforred siock for ono-ball their bonds. In Fobruary and August, 1873, tho intorcat was promptly mot, but In 1871, owing to untriondly logislation and tho ponic, the earnings foll off to such an ox- tent that the Fobrury interost was not paid. In Juve last, AR, OBTRRDEEG, formerly of New York, but latterly of Frankfort, Germany, claiming shrougl a committos to rop- rosont bondholders to the umount of £2,000,000, enused o suit fo bo instituted in tho United States District Court fu this city, Judgs Blod- gott prosiding, Lo foracloso tho trust-doods mado o tha Union "Lrust Compeny of Now York, o socure tho bonds. The attornoy for tho Com- pany domurrad to the bill, on tho ground that it was promaturoly filod, sod on tho 20th of Jiily tho Court, Judgea Davis and Drummond con- curring, sustaiued the demurror and dismissed the blll. On tho 22a of July Mr. Nickerson, Prenfdent of tho First Natlonal Bank of thig ¢ity, holding bonds whose oxnor bad not conw sonted to tho contract of 1872 roducing the in- terost, filed s bill in tho Clrewt Court of Honry Oouuty, Judgs Pleasants presiding, P TO FORECLOSE TIIE SAME TRUST-DEEDS, and seking that a Itecelver bo appointed during tha ruuduncy of tho suit, The Court sustalned tho bill, and’ appointed R. 1t. Cablo nd Judgo TLyndo, of Rock Ieland, Receivers, who immo- diately tool possession of tho proporty, snd who sinca that thao bave conducted tho business of thio Company under tho directivn of tho Court. On the 24th of July the sttornoy for Mr, Outor- borg, who had notica of tho sult ponding in Ieury County, obtained an ordor from tho United 8tates Circult Court to reinstato his cuso, with pormisnion to smend his bill_and file o supplomental ono, On tha 19th of Sevtember tho amondment and supplement waa filed, and notles was given that < AN APDLIGATION ¥OIUA NEW RECEIVER would bo tunde to the United States Court to- day. 5 T'lio partics Interented in the caso, sustaining tho setion of the Heury County Court, its lie- ceivers, and tho prosent mauagomont of the rond, and thoso asking for new lteceivors, and ophosing tho management, woro quartercd at tho Qrand Pacifle yeaterday, aud wero priming thiowmnolyes for the coutost to-day before Judgo |. Dlodgett. 1t appears that Mr. Osterberg is sustainod in his application for & now Receivor by Mr. Boody, of Now York, ox-Treasurer of the road, agaiugt whom, according to aflidavit of Mr, Cable, n puit is now pending fu Itock Island Conuty to recover 9275,000, which, it is alleged, ho took illegally from the Company while in ita employ. 1Mo i also sustained by Clerman bond- holdera representing about £4,500,000. On the otber bang, g THF. PRESZNT REOEIVERS nre nusinined by boadholdors in this conntry reprogenting about 3200,000, and by the munic- ipul corporations “nlone tho lino of tho 1ond holding stock amounting to over 700,000, also Ly n luge majority of tho remainiug stock of the road, that baold by Mr. Bondy's friends hnving beon sot asido by the Cuenit Court of Rook Island County, on nceoun of ity having beon obtained by fraiad. Besido thiy, there are on_record tho ailidavits of tho officers of tho road justifying tha wanagement in its various oporations, a8 violl us the oflidavits of David A. Olin, Buper- iutendent of the Western Union Iigilnoad ; Abol Kimball. Assistant Superintondent of the Chi- eago, Bock Infand & Pacific Hoad: Isaso B, Howo, Chief Linginoer of the Olicago, fowa & Nebraska, and the Cedar Itapids & Missouri Tivor Railroad Compauy, as to the presont con- dition and managaeraont of the road. TIE QUESTIONS 1N LISPUTE nre of considorable interest to the public, jnas- muoh na they invelve a probablo confliot of juris- diction botween the Yederal and tho State Courts, and may result in a largo crop of “oon- tompts.” I? Judge Blodgolt appoints a now Ro- caiver, and bo attompta to taks posucssion of the rond, - the Cirewt Cowrb of Ilenry County would probatly fine and _imprivon him for contompt, ” while Judge Dlodgett. would probably oxerciue tho samo prerogative toward tho original Receivors, Howmany of the attorneys on aithor sida of iha caso will suffor tha saino penaltios for tho same olfouss it can~ not uow ba aafoly estimated. Anothior phase of the cags is, should Judio Blodgott appoint now Roceivers, they will prabably bo opposed by foree in thoir attompts ta gain posacssion of tho proporty of the Compau; 2 MEETING OF RAILWAY NANAGERS, A moeting of Tailway Managers of tha West- orn ronds connecting with Now York wag held in Now York City lagt Thursday, fov the purpose of comploting the work begun st Baratoga to harmonizo the conflicting intorests of tho dif- ferent roads, Represontativos from the following lines wera prosent: Michi- gan Contral; Iake Bhore & Michigan Southern; Tolodo, Wabnsli & Weatorn; Yondalia Lino, Indianapolis, Bloomiugton & Westorn, Pittsburg, Cinciunati & 8t. Louls; Ponnsylvania Coutral and brauchos; Atlantio & Grest Westorn, and (rand & Indisun, The Hon, J. C. Cox, of the Tolodo, Wabash & Westorn Railroad, was clected Chairman, and Mr. J. Greon, of tha Peunsylvania Rulroad, Becrotary. The Now Yotk T'ribunc anys the diccussion was conducted in & somi-convoraational manner, aud s freo dis- cuelon was allowed, especiatly on tho mattor of roferring questions of disputo to arbitors to bo solectod from mon who had held no direct intor- oot in any particular rallroad, and who would thoreforo bo impartial in_their decisions, Tha arhiters are to bo ealled Commissiovers, and (o {ix tho rates of froight on connccting lines 80 as to meko thom nniform, and then to submlt tho anmno to tho compnnios for adoption; The ratou far oratern-bound freight nrotobs rafarred ta tha Westorn Bonxd of seven Counissioners, and tho wastoru-bouud freight will be subuitted to an Tasteru Board of threo Comuissionors, consists ing of ox-Cov, Douuleon, L. W. Blanchard, and Thowns L, Jowett. ‘The question of rallroad spood botwoen differont points on camnpotivg lines woa digoussod, but wus loft as au opou quostion, the cowpaniawto bave tho right w xaFlll:Atu thelrown ratos. ‘)10 vacanoy In the Weatern Doard of Com- missloners, caused by tho resignalion of Mr. Gill, was. not filled, but his duties wore tom- porarily transferrad ta the Indiauapolia Depart- ment, aud pluced undor tho chnrgo of L. L Au=- (l’mwslol thut aity. ‘Cho meeting thon adjournod #ine die, TN¥ WESTEDN LOARD OF RAILWAY COMMIGHIONIDA mot aftor the sdjournmont of tho mesuugory’ meeting for tha purposa of complating their or- goulzation, 'I'hors wero prosent at the meativg Uen. Georgo B, Wright, of Columbus, O.; T L Androws, of Indlanapolis, Ind,; J. 1L, Sturgoon, of #t, Louis, Mo. ; I T, Wadswortl, of Chiensto, TiL. 5 7. 8. Nowberry, of Detrait, Mich,: and W, D, Colburn, of Yoledo, 0. 'Tho macting was organizod with Gen. Ch B, Wright, of Oblo, us Chaltman, sad 4,10 Bturgeon, of 'Bt. Loals, a8 Becratary, Arsavgementa woro made for & oau~ ferauco with tho Freight Agents of tho diiforant roads who might bo in Now York, In oider to talk ovar tho quontion of tho prosont raten of froight, and, if poasiblo, harmoniza tho oxinting diflculties, Tho coufaronco reanlted mornly in gotting at tho figures in quostion, but no dis- position was manifostod to inoreaso the exinting rates, After tho Commissioners have had timo to gonpldor the qnestion in all ita dotalls, thoy will send out thoir roccommendations to tho &if- forent compauion for thelr ndoption. —— MISOELLANEOUS. T3 ILLINOIS BATLROAD LAW. The case of Tho Pooplo v4. Neal Ruggles, a conductor of to Chicago, Burlington & Quincy Railway, is oxpoctod to bo arguod hofore the Bupreme Court of this State, nt Ottawa, Tuenday, Tho questions involved in thin cnso aroof the utmost Importance. They embraca all tho principlon tor whiels the Iilinols railway companiea now contand, and Lhe declaton will dotormino tho validity of the mnow rall- way law. Although the case was {uatituted for violation of tho passonger law In domanding from s corlain individual 2 conta moro than tho faro bamed in the law, tho powor of the Logialature to tako from tho Company ita chartored right to fix its own fares was st upin dofenso, and will bo pleadod on tho trinl. As the supposed possesaion of this right to regnlate the tariffs of "tho railway com IIHFDI dictated tho passngo of tho famous Lilinofn law ngainst dis. crimiuation, the judgmont of the Supremo Court upon this question will _bo engerly auticipated. Atlorney-Ooneral Edsall will appear for the Stato, and the Ilon, O, IL Drowning, of Quinoy, nx-Heurulurr of tho Intorior, and the Hon, B, 0. Cook, of this city, will arguo orally on behalf of the railway company. 3 ONESAPEARE & 01110, Messrs. Fisk & Hatc, of Now York, announco that tho rosponso of tho bondholdors and ored- itora of tho Chosaponko & Qhio Railroad Com- puny to their cireufars of Aug, 1and Bept. 10, ins boon large and enthusiastic, coupons on over $2,000,000 bonds having boen funded tho past wook, Tho offect is alrondy Boon in tho on- hauced price of the bonds. TOLEDO PROTESTA, Tho Board of ''rade of the City of Toledohave passod tho following resolutions protosting against the freight discriminations ageivst that city by tho various ratlrond companies : ‘WiEneas, 1L has heratofore beon the polioy of tho railroad ues cast of Toledo to discriminata sgainst its busiucya lulerenta in varlous ways ¢ L¥ral—Dy catablishing rates to New York and East- ern polnte, which ore greator in proportion than tha rates front Obicaga and Indiauapolis, which are our chiuf compoting points for Bouthern Lisinoss, Second—Lly combinlug with the lLines oxtonding westward, {n establishiug through ratea from il placea ol importanco to Eastorn markels, whilo ey dony to “Loledo merchants tho priviloges of proportional rates from (ho same place to Toledo's and Winuas, A continianoo of (his polloy will tend to ruln Lo commorafst business of (his city by drawing 1t 10 pofuls Laving mora favorable rates of trausporta- on ; an ‘Wugnzas, The Clty of Toledo by a targe subscription £0 tha ‘Toledo, TiMin & Esstorn Tallway, Lon scourod Dy contract thio privilegen of ratos Mastward pro rats with those of Chifeago ; thorofare, Zesolved, That we ol of th” Esstorn railways ne right nud Just to our fufereals “that tho rutos from “Wolodo to Lastern pointa shull st nl timea bo iu pro- portion o {lie Tatos from Clicago and Tndicuapolly, Hewotved, That from thi ratlways East wo cinim that 40 rutea from all poinis shall Lo as low Lo tho Toledo morchant nu thosa glven to any raliwoy, fast-frulght, or propollor linn carryiny from Toledo 10 ‘the Enst, +Zesolved, That o copy of thieao proceediugs s rent t0 Lo How, J, D, Cos, 2 well & 1 copy of tho contract of thin city and ' {ho ' Vennsylvania Compony, which provides that the sates froni Toloilo to New York and ILast shall not exceod a pro rata of tho Chicago rates, requenting Gor, Cox that o will bring the whole sub. Joot to thonotlco of {lio rallvsy managers intercated, With full confidence that our iutcrests, a3 idontical with {hosa of this Toledo, Wabask & Western Rallway, will be protected in his bands, TICKED OFFICES CLOSED, It hna beou proviously announced tlat oll the outside tickot offices ‘nt Omaha and Conneil Dluffa bave boen abolished by thoe Towa linos, Morotoforo the Northwestern and Itock Taland Ruilronds had o Joink ticket ofiico at Omaba, The Burlington & Quincy Railroad bad-sn inde- pondent oflico. Dosides oach of theso ronds had a separato tiokek office at tho trausfer ground at tho Iowa ond of (he bridge, which 8 about 8 miles from Council Bluffa, - ‘the threo ronds ulso had a joint ticket oflico at the City of Council Bluffs, ~ All theso offices bave been abollshed aud tho tickets placed in the Goneral oflico of the Union Pacific Railrond, from which only can tickots now ba prooured. The_tiokot ofiicos at the varions dopots &t Council Blufls bavo not beon disturbed, —_— A Russinn Crocsus. Tho Continental Herald gave au account the olhor day of iho openiug of a Russian chapel erected in the Canton of Tossin by a Baron ‘whoin tho local papars call *“a Russian Crawus,” It seoma that this gentloman Lins bocoms 8o on- troncad by tho scauery ot Lugauo that bo hag resolved on building o maeuiticont clintoau in tho neighborhood. Tho building witl cost 5,000, 000 francs, tho_decorations 800,000 francs, anid 4ho furnituro about as wuoh more; but this witt Lo but a bagatolle to tho owner if, as tho Tensi- nois journals ey, he has an annual income of over 10,000,000 francs. They sobdown his entourage ay thirty Ruasian servants, sixtoen Rusaion and Swadish ingors, and sixty mupiciany, who cout Ium alono 150,500 fraucs a yonr. In ordor to gratify furthor his musical tastes o celevrated prima donua is ougagod occasioually for his ox~ clusivo enjoymont, aud by way of keoping bis orohostra iu practios the mombora of it aro obliged to play at a corlain hour cach day throughout tho yoar, although in the absouco of AL Jo Buron thero is not a single auditor. Tho Buron iy _said to kave ‘' sumptuous palacos " at Taris, Viounn, aud Nico; to liavo made his manoy by epoculations in Russian railways; to chango every two years oll his porsonuot and evon lus noqunintances, aud to ignore com- vlotely hia relatives. — e A Steinway Upright Piano, faken in cxclinugo for a moro coutly iustrument of the samo form, bub very litlo used, and &3 good as new, can bo purchnsed at a bargaln ot Lyox & Iiea- Ly's, Btalo and Monroe atreets, s et Haines Bros’, Piunos, Prices exceodingly reasovablo, Warmuted first—class fu quality, Termmy, $50 cash § balance, $23 monthly, oo Leplo of Musio, 83 Van Suren atrect, ——— Irroproachnblo, Notono word of ccusure can justly bo uttered against Sozodout. No olbior dentifrico makoes the teoth so White, and yet nono is £0 entirely froo from overy ob~ Jectionablo ingredient, BUSINESS OHANCE TARGE FIRST-GLAR; E i TU T, clty, toutn front, Toomeall ploasant, Will bo sold at abadrlfico, Cautofor salosiokiees, 133 Clark-at., Roum3, A DEDG STORE N AN BIRGANT LOCATION 04 the Noeth fildo for sale, 000; half casli, Trica 52, Dulance 1a trade. Auply at Room 10 Reugor llack, cor: nor Ollll'k_lnll Waaliington sta. R NDLED DOLLARENTLLIDY AHiLE otorost in & poitao ne n Tontt, Call or wthiress 12 R UlntE-sher 1eooms 40, RE U BALV—A WELL-EYTABLISITED browozy, situaiod alfunsi in tho ‘oontre of tho elty, with or witivutfiztacey, undor most fazarable conditione, Tor purtieulars, inquira st 156 nud 183 Pavitio-av. ¥ STORE TOR SALEWIHL HOREEE, it flxturon fn'good shispo, W, GOETz, viStatoan, o 0-av, " Mh_pz,m: AT A BARGZIN-TIE & Cliatloa Hotol, clioap, as tho propriutor ts going vub it e, i Bl ol st By od, and will T sold for no-hs . oo oply to LI I UORLIEY, Pronribtars it for yood bun by UL uBkylas - o T NEATEST ATTED Ui SALOON O iR L Wost Sido minat bo wotd; will o sulling, - AtHiren 1oy ol g, oL ToR0L HOUSEHOLD GO UCTION BALE OF IHOUSE I 12, ), earpoty, Lodule 103ty o HIGHY) S JUTEREAY: hold goule,” and el siorclsnlise 3t mattiod {hat our auctioi salos this woek ara on T K{I.V ‘Thurs- day. und Baturday, Uuu-l‘nm nr‘mullfl!lllwd prownt sutlime, sl Bughtn Gt thoy il ba. (ALY Qeatt ity HOORIVELL, W ] e, (bles ” cham 2 Seirainteo ook-atovs. Balo pos: CRREE S 1TSSk, a0 v O RE, TOUSE. b ILLIAMS ¥ d0., Ruotionuors, 5oy and SEV/ING MACHINES, OMESTIO BEWING MAGHINE. N twontialy prate, Bowiug piven (€ desiind, Al i of tachwonts, iooa. _Macbiuos ropal NI DOMERTION TWO LATEIMPRAVED &I n, i Hireo Urovbr & skt waeniney, sl ln!mr- fuot order, at lialf cost pr! 25 Ulark-st., Hoom JINGER SEWING MAUGIINF_PRINGIPAL O A T I 10 poc cunt wiscount for cash OF A 3 MWLOHRIET, 915 SOUTH 7 agont, Mackluca sold on monthly Al ropatend, J: e ¥OR SALE i\Olt BALE—~A LAKOE BEAUTIFUL MIRIOR, L sultable for samplo-room, rostaurant, or shiwst any Tidnil of bnainoss, inguiro wook day: Hoom U5 Kwing ook, Nortl Ulark-st,y first entranco near Kiuslo, aftor CITEAT, "ONTE NEW L, I, RMITIL D UEIDLER, coruvr Lovwls aud PARTNERS WANTED, Dol Qi Sed o ol uainca. 1 ) Tribun SATeOReeor AL oiier CITY REAYL ESTATE, TFOR SATi-OR “EXGIANGE: an Patkiav-, nose Hloboy o imiproyemonts, i3 rooms, cold wator, kitohon ranigo, hoaters, parlor furniture, 1l e, Iargo barn atd carriago liouso on alloy can firat-cluaa placs; (itle portoott sbateaat fac. Purchiater muat sssume mortg! Wl 'oxchianke. far fari, of @uodi ot untalila beorrty (unliniTel: . Aldrors, o VAL Frieopors, i, o ALIETa0 TRAT ROUTI THOM _TINOOLN awnor, I00X1L4 foot. _ Address X, Ok BATIE-TIOU 60_FERT FRONT Inzae wond house, mod- bath.room, Hot and as-(ixiures, oarpats, D GOTTAGRS AT hiN- ro T Cronpetiag, 1 Wastaru. DR BALT on Wabnsii.av., botment Twan (OR SALI 0 FILET tawaon linton and fine I for stable or waroliots Nixon Bullding, uortheasy corier M R HALE-2. ATOIYritAN ON WRST MONROLRT., i TOUSE, 1 1200 alloy, on I BNYDI & LI, 13 Nizow' Bullding, Janroo aud Tajalle-als, i 30TH ONLY 4% M1 faxo 5 contai gout lu: the :lnnl"dw‘l:: ato nl TR 158 et Sadie ‘fi"“fi"{;“‘ LARGEC ~Tiouto, 3 Bl A you e, 109; ted onay call aid WANTED-=MALE HELP, ~nnnn A AR A et s rados. ks WANTED — OARPENTERS — o XY " atnow Igalhnlldlun. mn‘&’:fi'}.fi."”‘"""‘"“' VW ANTRD-A FIRST-OLASN MRRUNANT TATLOR (goort el A S tuttbing Lo T-OLAGH GDHTOM 1G0T AND Ry ok A o wints wil e miven "y BISMAN, Montonco, 1. 8 s YV ANTLD. 0D TALLOT BY THE WREK WANTLDSA 600D TALLGH BY THE WREK. 5 Witnen G00D WARNBER AT GOUDWIN Housa harhor.alion; gand i AL o WA\FEE"M 15 gont board w4 ok, 8. A, PHINEY, Bololl ANTE N Q00D MEN A Wikt w\\Mkl, comner Thiriy.second sui l)llllall‘ll i moratng. o A1 Emplovinont Aszonolos. TWANTED-20 RAILIOAD LANORERS AT 000D wwagea and & long ol 76 toahnpporss warle nlt vl teams, CHRISTIAN & ters 10 cvabminnre, BTG, 1 it Greriets, 1t Mincellanoons. ANTED-MEN TO SELL IROOKS! IKHIFT AND srora_shiarponors, vegelnlo. ttiug. atd ao, kalvor, glissontidie, arle! didohite uiedlaheeric ro o g artlolos. e )l];c 5‘ nncz I‘A‘Jul‘lum SLILRLTE L WasT and averago fact, mako ooy, #70 to YR BRI SIS Wi erinanont Lusinass, I, doty toom 18, Ghicnizo. PD-OTFIOE MOV MURT WRTT) nd, Call Mouday mioroiug st 164 lhEdAultxiu?loh? A" BTORK AND I ey DA 71 Sl en e SUBURBAN REAL ESTATL, OR SALE~810 WILL BUY A LO n and $5 o onth’ u + Droporty shawn froo, KA BEOWN, 143 Ladallv it GORNERS OY nach, 153 foet laap to alloy, ql‘ark Subdiviston, close to depot, with Tros Liwatar, Addross'd t, 205 Kin SALE_GIIOICIE GOUT, ta on Oskwood Houlevard nnd Fgan.a adjoining ety lmits, at low prioo: Now I3 the Uit to u erly, liko tho Sbove, at lowost eate eorinln o advanca, ' J. LEAIAS WARIEN ber o Comunugen. COUNTRY REAL ESTATE, :~TWO ADJOINING, d timber) fn Groous Caunty, tiro Billcs; othorwise vilmproved d HUBMER & CO,, 1 [joit_sA 5 Tt soros, 1 {enosh; of wall to fnyestigato. Hoom ON LINERAL TERM X od Ciiloage proporty. 4ho south balf of b besutifal placa af Bt. Josap, Micl., kiown s the “*Uotlago o tho CIILY K g0 Wil the plago,_ JONN H. LEE, SI Y0 RENT--~-HOUSES. 0 RENT-COTTAGI: 510 NORTH LASALLIST, ont, $20° por montl, AOUBIE NO. 201 PARK-AV.. [0 gt a5 Lo WiFELE, T ity ouso, N, Bot wart, Van_ Buroa iU RENT-LORNISILED OUSK 161 WATA r Twonty.ourth-at., now mar) cnizlicd. | [nquite on prominos from i3 to 103, w., 8 No. 1 Arude-couet, Rapublie 1OUSK AND FURNITURE, tisiro ot 63 Wout Co TIOUSE 118 UUTFAGALGIU)D'HL 0 nENT—CH| motloen fmprovemonta, Al av., 11 roome and KE: 0 s IN GUNZENIAUSER, i ) Jatntod iramghout, West Van Suron-st, [nquiro at 11 Soath vk JHIOUST, 6 NOWHT LasATIT ol bnsoniont,miodort (prdvoreits, riar, “Apbiy %o Wil O, DOW, Xl Tribus NT—TTIREE-ST marbls front d ol atollics of GKU, O, iU Eldridge.cours, A, 3 court, Dilly WLLLS, 188 Dearbo Sunnroan. NT-IN EVANSTON, :HOUSIS AND COT- me, 8¢ lialf price uatit from G to 10 ronms, S WAL, Itoom 11, 108 SHATLES | BROV TO RENT-~ROOXS. RENT~-FURNISHED AND UNUVURNISUED adhlan vouus for gl houtolkosplag. - et OGRS AND SUTT] n e Wost Sido: PHOMPSON, 92 West Madlson-s ot ot YOUN T MR DESTE o ORI RHTRAT ioisgh Coltage, 1o Lasulion Ay Jtoni T (alevatar). e WANTED-FEMALE HELP, Tomostina, =4 ANTED-TWO GIRLS, ONE Ti N/ o at N orift Wel NTED-AN" TRIRIL GTRT, CONPETENT T0 WG, L, S o e Hangamon: “YA. TI'ED_-GIRE TO DO GI: ina sruall private family Dlolla m., al ¥y Chicago-av. NERAL TOUSEWOR , for turew days, lwfi ANTREDAYET N A W iy &t D v ollen, Tica Indinnnan v AP (m‘r."m TAKE OARE OF GHIL: Emplavmont AHxenoies. Nk Repia it AD, SOANDIXAVIAY aillos, *hotels, Ty 3 o adkney, ot M. DOBKITS ofteor 80 Milasetesd, scellnncons. ANTED-TADY AND GENTLEMRN OANVASS. iye.0re for {ho tawingion Sowlng Macliner TWARTED-R FEV GENTRVE TADY ORNVASE: srd medieal work by cailing this Sfternmon, Trom t oo Honm 35 Erchange Bulkling, Sacoos i ndr WAhie e SITUATIONS WANTED--MALE, Booklioenera, Olarien, Etor i ITED--| 2 A thomon LMD LY & GENTCLEMAN o this city a8 enlosmrn or correspondent, Sy woll§ undorstandu Fronch. Addrors £19, g e Tradaes. SITUATION WANTAD-BY A PIRST.OLASY Wit oral fair- 3 " 100, A O, Past-Oiice, Ottaws, Uan, 10 r_*eatng Sty N WANTED — AN VOREMAN, BY A practical machiniat, or would accopl s position ik uihor parlics requiriug (e servicos of & compotent mne eliulst, oonditions boing mutinfactory. Addross, waiit Oet, 10, M. x 665, S QITUATION WAKNTEO—ON T118 “ANlT PRUFRRV: ¥ “ative, a3 composilor oF lobbor, Uvod roferances, Ky, Il \ice. Miscolinnoons. SUTUATION WANTED-IY A GENTLEMAN O 0, aducated Tor the law, and who Las had &u extensive Draotical busluoss azperlolico. Addross L 76, Tribuna SITUATIONS WANTED--FEMALR Laundrenaea. ITUATION WANTED-—-AS LAUNDRESS OR 00O ina tirat-olass family. Can bo saon Mobday from 103 . IS . . at No. 601 Waantworth-av., botween Twone tyninthand Thirtioti-sta. Emnploymont Agzonts. QITUATIONS WANTED-FANILIES IN WANT OB 00 Scandinavian and Gormaz Tiolp can ba supplied DUSKE' oftico, 20 Milwakoo-av, Miscolianoons. ITUATION WANTED-BY A LADY OF LDUOA 13 " tfon and rofiriomont as companiol 1o an eldorly laiy, 3o wlit b wiling to” do, ‘arydiing renulvod "of ber: is & Spod mustolan: o, bigliost roféiances ean be'glecu ot to miuch an objocaus comfortablo fiome. Addrom N 85, Tellnuns officn, TO EXCHANGE. N0 RXOHANG FoLOT OTS FIONTING ON VINGENNI ‘v Mt HONA KnTawnO Lo D2GIE0 Tor & orae bag biggy." Tats glosa jo Duminy Dopos 3¢ Washiat n.‘fgflu {0 daciunngs for ;'a}.'fl':mgfiua Torms e it oo . GURERTE CO. Salio-st, 0, EXOUANGK-A REAUTIFUL TENNESSER L farm of 218 acres, worth 812,000, unincumbosad, for Ghicaga, or 1ydo Park proports'. Apply toJ. N, BAIK= ER, 150 Dearborn-st. Vl‘ln XOHANGE-NORWOOD PARK-CHOION high blacks or lota for ‘city, village, or country fime s Prapeptyy on il solly ot pricay easy torms. 8 X e rjfi) IEXOHANG VALUABLE PIECE OF REAL g aintes an tho Rorty ide, (of rosidouca.roarty, & s hitoren: o A 'Tu FXCHANGIR-ACOOUNT OF LEAVING OITY, first-clnas woll establisied businoss of yoars' standing, #uccossiul and handsomo roturn for tho fnvestment, frea ‘l)r:'“x{l‘lglle::l:]hm"u. "\'v"I" o[u'zmllnn‘lhc a0 lorgnod‘l - v o proyerty free. A 1 relorancos given snd ras Huirad. Addons ROREIL, THltusa oese o £ VI, TSITED Glark and Doaz- ) ipo i LEGANTE A vory esirable for two or thirow K i 4 Wasiils Room 4 e E lnertic }, ho cil ('-,l" 3 st Tocrtio ronts, 151 Sttt Clurk st Koo Ly TO RENT--STORES, OFFICES, o, Stores. RENT—~A LARGK STORI, TIIRD Al with elevator, power, oto, Apply af 10 RE: TONR AND BASENERT 1 el ivei 1ot Vao oo ac Inqiitro at 166 Fiftu-av,, up stales T-HALF OF A FIRST-OL, t,, lotweon Madison atn, wtaling kiad of buslness, O 46, Tribuno 10 XENT—STORES, BASENENTS, OFFIONE, AND s vonteally Jcated 'S eal Estato and I Towalrsf%:‘flu”'o@m‘ vo‘i‘-‘rflmlu D L‘O’! o rospootable laoatlon, an ime d ockc-Farka 13y sallca rom ratroed i 'OOO ACRES NO110WA PRAIRIE LAND TG R i uxr.l‘xlaqj:qél\r clg,’\n wtack (lr{if:fl‘_(' . will pag 8 mi!jli_h Ad ru;._urqu] Counell Bluffs, Ta, FINANCIAL. DIONEYTO LOAN O BIAMONDS, WATGUTS, bonds, etc., at LAUNDIZ] i lice, 190 Run« T T g Suats oF Bl T0 w10 LOAN ON TIOUSEA and lots o Obicsgo, ' I, P, BALDWIN, 8 LaSallo st., Ttaom il PO LOANZTROM §10 TO 810,00 ON DIANONDS wutohss, or other guod eecurities, at fale rafes. T Yo Ve (0° furn o corger, call au DWIN A. RIOK & 50,0 71 Denrbomeat., Meconniek Block, Jhom 2. & () "0 BLGH IRVEBD INSTOCKS ANDGOLE 3] 250" qor o untll,* Bona for pertieniass. pupt UG Baukure, 2 Wall-ote Mo York, INVE! o J pi 52,700 0 Jvasr o Jors, Ane Hott B2, ropar it Intor: commitialon, “Anly, Biriog addrods: snd description o curity, A 7, Pnbne ol @ IN TAND 70 TOAN IN SUMS TG "‘101000 sult, on dlamaus rchos, Singer uae chinon and nther guud collatoral, 12 Clarkat,, Roow 3 SEIENT, CORNER VAN Ieht baxewont, good d for laundry or piau 2 AND BASEMENT CORNIR OF Aleo g, J0s4l o 1 s N R CORNER OfF Oikivons ponlovard (he bose oond-at, for any busi £l Untta, u(hn‘g:lv. s b, l~7 4! WANTED--TO _RENT. ANTRD-TO REI dsidgo-oourt and oxst of Blaty ol NENT= A BNATE, 0, ur Uhron fhroiahed 7 Noetht ido.” Statu’ price aud lecation, ~Addroea Dok BOARDING AND LODGING, Wost Side. 5 HONORE.ST.—0 RENT~A LAKUK FRONT I shied, Wil first-oluss bosrd, o liod'or unfurnislicd O WEAT ADAMSSTSOITE O 0 ‘unfurnishod rooms, modorn Luj Loard, i privato family WHST WABHING roontd, with or without boar =1L In private family at MISCELLANECUS, A DRESSMAKER HIAVING A GOOD BUSINERS] A cau find a cas easing 11 G, Liox 1 TOFF GLOTIUNG WIT, . . A, DRIE Sauth G it "”""lemg Iy attondd to Asi ph.}'m QuD NEWSPATARS HOOES, otals, Dottlos, dc., &t 4 LONITE, 0 8 s 50 Fifihay. Siosk allsd fortn any yatt of thia eliy, free, “OF _ALL, KINDS TE- T o o S e, o e ol 0K q wildiors, § aud 8, a¢ 1 B, THAYIER 005 T Weat, Washingto ISCOVERED LAST-A BURE CURE VOR AJ entnreh, Costs you nothing te try i, at Room 7, 168 iz Cat 1 out. T ANTED_PEDDLERS WHO WANT TO MAKE VY s g ool o Lo RILRACYY, 18 ot e up-staled, BAIKELS NEW YORK STATE EAR B0 B s ook aa o s by giidntes © OHURCHILL, counuslon mershant, & au or-at. s oy __ MUSICAL, GIIERDID AND GHTFHRINED. AL ok Diviepiaoy o 3 Taoan oo, 15 Claristey Hocsn d, upestatra s Sone A% T AND GHEAPEST-IMI1 NIGHQLSON OABL: nat orgau, Prico, 60 aud upward, Wholeaslo ond rotaflat th factory, 64 {udiana-ot Soutl 8 TEAST T ELUTILAT,, NEAIR PILE LARTE—FINST. olusy bowrd far Tadioa'br goutiomen, at $4 to It 48 of pluno, _Day-buard, North Bide. NORTH OLARK-ST,—ROOMS FURNISHED r unfurnishiod; withi or without hoard ;. uvury I wodera lwprovouohta In ‘houss. 'BOARD WANTED, OARD-A NIORLY FURNISHED “fl(} ; for gontiownn, wifo, aud o ioforson Atdcam L CHUthe ilve, ~ HORSES AND CARRIAGES, HQESES A IDDARBIAGES, - AT WESTON & O spue, Tuosdays au TEW MORK LEFT OF T108K BPTENDID Uirooapelug yhactaus, fuwi-soat bigrlos, sud 3 Hoar Exposillon TIARON & AN AN CONPANY-NEW wehiema of casy payments. s 1n ordor to meet the eonvenivaco of those who wish to 1Ay only & small smount in cash, and the romafader by oasy nelullmenty, the Maton & Hamltn Company havs nov arrangod to dfer thoir Unrivalod orgaus for monihiy X guaTtaty gaynient, Tiluatratad’ atalogiies, with full doseription of atyles and torm for cash or timg vayments. Also, testimony Glraulurs sent fran {o any address im ABplioAtions MARON § I dudiNgo e P———— Y1113 T LT LOST AND FOUND. THSDAY, BEDT, #, IN QOMIN 900, FHBAY, NEVE 3. JX, Sooe st Wiconsia to Galons Division, of: 0y & Ne W, R'E., o luds’s guld bunting-caso watoh with the fuitisls A. O, M. an gusa, Ad«!‘tw Y hm)l‘\“(‘ TI“‘R' K\|l11 by returuing S o' 7 QIRAVED-I'ROM COINEIL OF STATIEAND FO A fetara.L on 1o Stk Soptembicr, 8 Jarge dark by horss w ong Wll"ll hind faot, A suitable ler& Sl e Sald for s voturu to 3. WILLKTS, No, Twolltliset, _ T i AY MARE, THIEOWN- A A, L aviog property sud paylug elinrgos. No, 10 Nowhngy-av, i U5 NIUIIVED TIT08 7 ‘snhio an Now York, X for lrewtori casslaggm, ot fuinth WasGtnglon-sts§ our TTOnAT pony build, travel {n In'vaar of 1228 Wabasl INSTRUCTION, NG COURKK AT THU L & Ktraltan'y Comnerol iato and Washintoi- monts heice ¢ ool o ab ald Calloy QU rofuaor of Gurisa oy aafd G oago Aklonouti. [ N mare, 136 handy, woigh auteast cornor o about sty Uotobor TR MAOIINGILY MEG. CO., 3 AND a1-st., Uhlcago—biachinory for pantng- ind hewding nills, sl fnatarios, Ihactiiuy skobs, oaktos abd Loilore, ‘Grant lighining erowDiato ualrersal wood-worker, and tiachinary sup- iiors ‘ivo 1 a call hefore purcliasing. it BALK: AN NI NDBOTLET, diiaaat o TIENIYY PORDYICH, 791 w, 3 vola,, $7.60 R R T el e AT clocts “Alion o E'%\ucmfi: 10 lve won, O, B, BURROWS, Hooml,