Chicago Daily Tribune Newspaper, January 1, 1875, Page 1

VOLUME 28, groo from any adultoration.” posed analysis. BAKING POWDER. CHICAGO, FRIDAY, JANUARY 1, 1875.—TWELVE PAGES. ; DR. PRICE'S CRUAM BAKING POWDER ,' ADULTERATED. ‘Whoreas, Mossrs, Steolo & Prico, moanufacturers of *Dr, Prici’s Cream Baking Powder,” assert that their Daking Powdor is made from *pure rofined matorisls without any admixtures,” and whereas Prof, Blaney states : My analysis shows no ovidenco either of adulteration or ¢liluting materials.” : Prof. Dolatontaine says: **I have made an analysis of Dr, Pric 0’a Cream Baking Powder, and flnd it strictly In viow of the loonl prejudice endoavored to be oxcited by ck:emists who lond tho force of their reputation to tho verification of tho statomont of Messra. Stoole & Prico, wo meko the following offer : .« Wohoreby groo to namo twa chomists of roputation, cither in Boston, New York, Cincinnati, or 8t. Louis, to be npprovmf of by tho Professor of Chomistry in Rush Medieal College, Chicago, who shall mako an analysis of' Mossrs. Steclo & Prico’s Baking Powdor, tho samo as sold in tho open markot, and in the evont that no admix_ turecs, adulterations, or dflut‘ing materials, as well as othor imjjurities, are discoverod as part of Dr. Price’s COream Baking Powder, then, and in that ovent, wo agrco to pay to any charity in Chicago, to be named by Messrs. Stoele & Price, the sum of one thousand dollars, and also to pay tho entiro exponse of making the anal- geis; Provided,!also, that if tho chemists ‘to whom the decision shall be roferred shell decido that there are admixtures, ud&ltumtions, and diluting matorials, as well as oth\ut impurities, in Dr. Price’s Crocam Baking ?oév.dor, thon, in that event, Messrs. Steolor & Prico shall agree ‘o pay a liko sum for s charity located in cfiicugu, to bo mamed by the undersigned, and that said Steele & 'f'rice shall pay tho expense attending the pro- This offor to bo accepted within five days by 8 written notico (nddressed to the undersigned, and the inves- tigation to begin as soon as possiblo thoreaftor, ot eithor of tho cit is named. | WM, ZEIGLER, Socretary Royal Baking; Powder Co., New York. ‘Whoreas, it is a fact boyond contradiction, that all of t'h‘oy‘mnteriuls usod for the manufacture of Baking Powdors aro bought and propared by pounds and ounces, and also-that all Baking Powders -are invariably sold to the consumer by woight, and novor by moasure, does it not nec wssarily follow, and is it not worthy the notice of consuniera, that tho practice of giving 12 instead of 18 owacos of an adulterated mixturo is nothing moro than s fraud, and enabling tho manufacturers to xoalize an oxtort: Tan. 1, L876. MUSICAL. | Piano-Harp Cabinet Organ Patented Dacember, 1t A newand beantifal musical instrument—oe improvo. ‘ment upon the Cabinot Organ—belng & combination of Yo plancforto aud orzan, To & complete Fivo-Getase Doublo-Roed Orgen, is added s Piano-Narp, tho tones of which are botweon thcse of {he pisooforte and barp. 1t hasa planatarte actlan s played by tho same kess f with tho organ, and may bo uscd soparately or with ono or all tho stops of tho organ. Tt (s not liably to go: out of order, and doos not requira tuning., Having thoroughly Fd teatod this besutifal improvemont, wo offer it with great ronfidonce to tho pablic. Prico of PIANU-HARP CAB- INET OJOAN, boiog & Frvi.OcTAvE DOUDLE REED & Dnoax, S1x 6ToPs; with Vox 1Usaka, AUTONATIO BWELL, KNEE BWELL, and Prsno.Hagr, threo and & 2 Balf octaves; in Elegant Upright Resonany Case, $200. ¥ Otroulars tros. 'MASON & ITAMLIN ORGAN CO,, .80 and 82 Adams-st, Chicrgo, ABBAND NEW AND MAGRIFICENT ‘SOUARE GRAND PIANO FORTE, -#BIDDLE & BOYD, Tmporters aud Jobbers of Woolers, 11avo removed ta their New Stors, 388 & 40 MADISON-ST., Near corner Wabash.ay. ki REMOV.AL. J8REm, MURDOCE & FISCHER, ‘WHOLESALE GROCERS, Have Remored to their Now Stors, 16 and 17 Randolph-st. Botween Miollgan and Wabash. 94 STATE-ST. ELECTION NOTICE. Notlce {2 hereby givea that tho annual alection of tors of the Tradors' Inurance Company of Chica ., will bs held at the office of satd Company, Nas, 25 d 37 Chamber of Commiorce, Lasalle-at., on Munday, a0, 4, A. D, 1975, Polls will ba open from 30 o'clock a. R. J. BMETH, Beorols THL U. 8. GOVERNMENT ARTIFICIAL LIMB AND DEFORMITY Apparatus Manufactory, orthwest nstoner, . 71 Maduson-st. MRS. BRINIK, idow of the lato decansad W. P. BRINK, Founder of uk's City Kxproes, ltos at tho pulut of death. The 268 will consn runntng until Jan. 4. 1478, FI CIIANGI OY ¥FIRM. AMES W. ¥LLSWONTIL aosses to ba » mombar of tirm of MINER L', AMES & CO. this date. MINERT, AME: JUFEN M, CORS| 9. 29, 1874, JAMES W. ELLSWORTI, COPARTNERSILIP. ¢, tho underakenod, haso this dey entorsd Into & vo- <10y U ddar by riu u o, Eirman, l.fluI-mu o i " Royal Bakin FINANCIAL. HIBERNL Banking Assocl Sonthwest cor. Clark and Livxesls, A dividend at the rate fo 6 per cent per annum has Il]ccn de= clared to DEPOSITOR(: in tho SAVINGS DEPARTME MT, pay- Dle on and after Saturdaly, Jan. 2, 1875. i J. V. CLARKE, P[resident. 11 Inclosing tho yoar's books, tory wrell cogniated basl. noas huuso will study cloely’ the cutioo™'s” “Howerer tha acoounts stand, thoy will recugulzo in [ :t uro the nea: ity foc pustiing ovory clalm o soonas ov b “dur, Our Tations to camnoreint intoruats, and fac ¥ tias for cullack ing througliout th elvilized world, aro @ sideatly falt in ihls counoction, and our vxp ing dabtora for frioudship or ¢ Lours frum dato will ba irom 10 FUASIEWS COT Jorni o'of ther iallacy of earry- tm apf £ ccisted. Uftica i Palisoy, s oL GO BTN Bt GWYNNE & DAY, Baukers, No. 16 Wallsst.y | Yew York. (VSTABLISHED 185§ recelvo doposita subjcot to cheok & talght, and allaw T buy and & ¥ 1 on commbmion Irond Stocks, ., o) ¢ sor for cash or on Wo mal vances tu our cu xlo or carry on mar, x loug or short por ¢ ds. Afion | ‘onato profit ? WM. ZEIGLER, Secretary i Powder Co., New York. REAL ESTATE. HINSDALE. A wide-awake man can make his fortune in the pur- chase of 40,000 FRONT FEET At about one-third its retail value, on any time, at 6 per cent interest. Wishing to re- tire from business induces this extra offer. 0. J. STOUGH, 110 Dearborn-st., Chicago. HATS AND FURS, 101 Madison-st. ERBY & BARNES, FASHIONABLE HATTERS & FURRIERS, 101 Madison-st. $1.350, $2,500, 55,000, TO LOAN, for threo yenrs, nf} ten por cont on improyed Chicago Tonl osti i 0. TURNEK & MARSI, 103 Washington- 2t “GENTLEIIEN Will find the largest I ine of Neck= wenr and Dress Glo ves to scloct from, for New Year’s calling, at LSON [3h0S, 8Shiet Manufacturers and Mc ¢ /¢ Faratshers, 67 & 69 Washington. st.,Chicago, Tike's Opera lfonse, Cit u dnnati, Okio, Wil vemain open, for buals ) FOR SAI.E, TiiE STOCE OF CROGKERY ~AND GLASSWARE OF . FRIEDHAN, 13 ANKRUPT, Tavolclag 88 000, o oflered at priva Le sale by (ho nder- Yiimod. Hitids Wil be racelvod 3 atl aad at o ot ‘buturday, Jav. ¥, e & i, whon ali bide will ba Dronod in prosoucy of the biddors . & 10 rejoct all Pl sessrved, "hloeichad re-3 ortes iy bo teda oa {ion 1o the undersign SPUROBRRT B, JuNk! NS, T¥ Mmmfl‘lifl‘!flfi' ORANGES AN1)) LEMONS, Just Rocelvod and 1D or Sals Lows 100 Csees Valanoia Orangos; 8 Hoxos Bownins Upaugon; Boaes Las e N op, ErooDISE, Nos. {0 aud 100 l"cll‘illh«lv. STOCK OF PICTU (ES, FRAMES, AND STATIONER Y FOR SALE, \D STORE FOIL RENT, A leo, manufscturer's sight A ey Carcleg torsa s '+“Ouber like yiloe sl Metrand eannoc attand todt: 4.6 idrves i, Tribuueoitioo. GmAfi‘yéfiff ;}gms. LADIES' FASHIO] TADLE FURS! Prizgs $5, §7, $10, 41 5, §20, $25 2 §it. UKBIDENI ) &, I MICHIGARAY, FLKINS & WHEELER S.A LT Oflice, No. 41 Lalke-st. ’ HENRY K. ELKINS, RAL WHEKLER TOILETIN KA LA KUA Hpochad Dispatoh, TO-DAY HELD AN INTERVIEW WITH DE LA BANTA, who has just arrived from Paris, at tha Hing's roquont, fo arrrange for the introduc-~ tion of TOILETINE in His Mujesty's do- mains, He sccompanied the King to New England to.day, OCEAN NAVIGATION. National Line of Steamships IWNWOTICE. i Toemantsoutberly rout ia Cowpany - Ne York for LI Salllug from Ker R oev ety SAT! ork lor Lo i, 870, curronoy stoe faced ratos, uéumllcll_l“-nn awo 4. GpwARd: rafia for L1 86q, VRV REON. Wertera Acant, ud" Handolph-sis. (96Dositd sew uicags. Great Western Steamship Line. Prom New York to Bristol (Kugland) diroct. Cornwall, Capt. Biamper, Tuosday, Dec. 2. Oress Weatorn, ‘Capt. Wiadnam, Wedussday, Jan. X. Cabin Pusizs, 870; Lntormiedinte, §15; Stsaragy 1, rcursion tickels, Bit0. Anply st dea'l Irelght Depat o _GEO. MCDONALD, Assnt, beon adopted by MEDICAL. T"PRUSCRIPTION FREE, Far the sowedy curo of Sominal Weaknoss, Lovt Mauhook and aildhsordrs %unrm".&n by Gngiserdiidan of sxowet s bas tbe o ™ Addr a droaelat b tbe RN b A e oatt, Otg. STOOKHOLDERS MEETINGS, Gr¥ice oF THX MERCHANTA' BAVINGE, LOAN, AXD) : 1 LORE COMPANY, UHICANG, m.\{ The gooual mestiay of tho stwekboldure of Tl Mer- chanietSavlagy anh, andibri Colopapy, for o ol elnvon Teuatess, 1o serve dur ailag Toar, WilL D3 Bel s (b oftes of the Campasy o Nivedass J %, Veiveen e b Ty el S b bt S el e ) 1874. Trade and Commerce of Chicago for 1874. A Satisfactory Exhibit Not- withstanding the Panic of 1878, THE PRODUCE TRADE. An Incréase of Thirteen .and One-fourth Per Cent. Seven Millions and Fifty-six Thousand Tons Re- ceived, Or Thirteen and Four-tenths Tons Every Minute of the Year. Reccipls: Breadstulls, DBushels, 95,208,- 000 ; Caitle, 843,966 ; Live Iogs, 4,258,379 ; and 1,053,809, 158 Feet of Lumber. THE WHOLESALE TRADE, Total Sales $268,000,000; An Increase of Ten Per Cent, The Movement in Groceries, Dry Goods, Drugs, Luinber, Coal, Etc, CHICAGO'S MANUFACTURES. They Foot Up 8164,800,~ 000 of Aunuani” Pro= duct. And Show a Falling Of of Only Six and One-third Per Cent. OUR TOTAL TRADE. It Is Measured by $639,- 000,000. This Being an Increase of Seven and One-fourth Per Cent Over *73. Fto., Ete, Eto. Tho history of the trade and commerco of Chicago in 1874 demands a difforent style of writing to do it justice from that which has befittod the subject for so many years past. Eveptful as the commercial history of tho city hns been, exhibiting so many different phases in its wonderful growth, it yet pre- sents another aspect, and the picture pre- sonted by the furn of the commercial kaleido- scope is entirely now. At least it finds noth- ing that furnishes even a partial parallol gince 1358. War, pestilence, fire, and panio, have in turn ossayed the destruction of tho Gardon City, and she has grown persistently throngh all. Each year's record has exhibited a large augment in population, industry, and com- mercial importance. Business las been so uniformly on the inorense, though the rate of increase was far from uniform, that anything like a standing still, or even a slackening up of our go-ahead speed, may bo regarded by gome @s causo for alarn, ond seized ppon by others as an opportunity to rejoicy that the long-prophesied decadence of Chicago is at hand, Itis a fact that, as measured by dollars and cents, tho annual statistician has not so much progress to record as {n some past years, butit is equally true that the fact of a lessened speed of growth in somo departments, and a compara- tive standing atill {in otherw, is uo reason for gloowy forebodings, When the fact and its causes are looked at without prejudicg, either way, there will be evident reason for wonder, as well a8 {henkfulness, that the city has prospered so well, and suffered so little, in 1874, "The proximate cause was, uudoubtedly, the 1ast panle, Qccurring pear the close of 1873, it affected the suws total of business of that year lous than that of tho year succeeding it, "The panio swept over the wholo land, and its offects have been less fult in Ohicago than in other cities. Bul there were other causes ab work, which have tended to reduce the vol- wme of our business, and. especislly to lessen profits, spart even from crop consid- erations, in which Chicago 18 vitslly interested as the focus:of the Northwest. lose cauves can svard:ly be understood withont golog hok. ot ‘eastas far as the ato of the gred dre in Oclober, 1871, A Inrgo part of tho city was lnid bars by that | pricon, provious to tholast opening of navigation, disnster. It wns quickly rehmilt, bnt on horrowed capital ; and the infiix of that 60,000,000 of berrowed money inflated prices unnaturslly at the same timo that it stimulated to extraordinary activity, It brought several thousands of additional workers here, whosa earnings for the next twelve months swellod our retail trade to an unwonted magnitude, only to leave many of the retail traders struggling for continued ex- istenco under the vastly fncreased com- petition for customers which ensued when a large number of those workers left tho re- Luilt city for other fields of sactivity, The competition for tho labor of these men and its products, induced by the general deter- mination to * get back " within the twelve months following tho fire, cansed the prico of huildings to run up H0@100 per cent abovo the cost at which they could have been erccted in more leisurely times ; and the in- vestment in renl estate of no small part of the money that flowed into Chicago like ko nuch water induced a rise in the prico of land that was too rapid to bo permanent. When the burnt district had been rebuilt, there was a lessened demand for the products of the brick-yard, the lime-kiln, tho foundry, the planing-mill, the nail-factory, ete., which involved the discharge of muny workers, They went elsowhere to scck em- ployment; and this fact was soon felt ina lessened demand for cottnge residences, for accommodations in bonrding-houses, for gro- ceries, for dry-goods, boots and shioes, beer, tickets to places of amnsement, and the thousand and one other things in which the wages of those workers had been spent. This made store property less valnable, and especially ns it was accompanied by o wide- spread vacation of premises occupied for business purposes outside the burnt district during the progress of the work of rebuild- ing. There was thus n donble lifting of the pressure for room in a large part of the city, there being at once moro of it and less want- od. ‘The patural consequence was a shrink- age in rents, and, though but few build- ings were left unoccupied, the reccipts from them were ro much reduced that, in very many cases, they were mot snfficient to pay the taxes in addition to the interest on the money which had been paid out for the erection of the buildings. Hence, nota few real ‘estate owners became embar- rassed as the time for poyment drew near; and the effect was soon felt in o weakness in real estate, due to a greater pressure to scll, in order to meect maturing responsibilities. And this wns supplemented by o rush of other people to sell, who were not foreed to do o by any other cense than the tendency in human nature to put down a lond when tho shoulders of others sre weakening under the burden which they bave to carry. This depression was not great in itself, It was only temporary, purely local, and not general, even in Chicago, being & simple re- action from undue excitement at home. Bat, right in the midst of it, came tho panic, which, originating elsewhere, swept over Chicago in its course around the commerejal belt of the Northern Hemisphere. That it cought 50 many of our business menin & portially erippled condition while so few of them yiclded to the storm, tells cven moro strongly in favor of the city and its people, than the unparalleled success of a sories of years of unbroken prosperity. Our iron manufacturing interests have felt the euccts of the panic most heavily, owing to the cessation of railroad building and the reduction of railroad supplics in the West. Next to them come the vessel-owners, who have operated at losing rates all throngh the sensons of navigation, because the inactivity of the carrying-trado in iron and iron ore has forced them to compete with each other, down to the starvation point, for tho grain ond ‘lumber traffie, especinlly ss the de- mand for grain transportation has been di- minishod by the fact that the wheat aud pota- to crops of Europe are unusually plentiful. The whole army of workers apd traders, whose prosperity partiolly deponds upon theso, have felt tho effects in a dragging of business. 'This has not, however, been sup- plemented by a slackening in the demand for merchondise in the country around us. In- deed, our wholesalo merchants have been quite prosperdus, chiefly beeauso tho farming sections of the country have becn compara- tively well off, and ablo to buy in undimin- ished volume, whilo the city retailer has suf- fered from a decrease of business, and therc~ fore has scarcely patronized the wholesals dealers so well as in former years. s PRODUCE. Tho produce trade of the year 1874 does not exhibit 8o great an increaks over that of its im~ medinto prodecessor s has been chronicled for somepast years, 1t bmg, however, been satis- factory on the whols, and tho money value of the produce has far axceeded thatof 1873, pricos baving ruled higher fo most cases,—the chief ex- coptions being wheat and flour. Chicago has done her full sbarein handling tho farm products of the country to the west of us ; she Lins handled a greator proportion of what has gone forward toan Eastern market than over before. The slower growih of thio businesa was tho result of conditions over which the peo- pla fn the West hiad nocontrol, and some of them aro probably only femporary. Tho cropa of Europe wers unugually good, and the people on tho other side of the Atlantic Lave not, there- fore, ncedad 8o much of our surplus 84 in for- mer years, Then, thero has boena grester de- mand from tho South—for breadstuffi from the overflowed reglons of tho Mississippi Valley—~for yprovisionsa fraw both the South, East, audthe Southwest, The Eastern Btates have takon liberally of our produce, though speculation was rife during a great part of the year, and lcm}_od ta keop prices up abovo the poiut at whicls ship- ments could be made at a profit, T'he produco markets Lave been unueually so- tive, in & wpeculstivo way. ‘Wo may ray, 'lh- normally, and, sometinos, unbealtinly active. "Phe falling off in manufactures, aud tho ratbor extonsive distrust of railroad and othor etocke, bern of the panic of 1873, and not yot got nd of, mado money unususlly plentiful all through the year, espevially_ ss real eatato was also slow in 1nost American citiea for thosame cause. Mouey waa cheap ta thoas who could give first-clasn collateraly, and produce psper was vegarded’ as the very Lest security, boivg proferred by somo bankers eveu to Unitod Btates boads, because more readily couvertible. Hence an enormous atimulus to speculation ig produce. Ewsteru capitalists sent their monoy au margine on grain aud pork, trausferring thoir aitentions from Wall street to tho Jake shiore; Chicago mien entered the matkets in greater numbers thau aver, and the list of *Western ** men was largely arpased, 85 thy extraordiary éluzaiers with whiols e £20; ¢ ad boat marketed, st vary koud 7 - NUMBLR 132 tuations wero rather wide, but not 8o sevoro, by far, a8 might have been expected. Indeed, it ! was aurpriningly ateady most of the timo up ta tho opening of the presont packing season. ‘Tho businesa of the year naturally divides im. summer or fall, instead of in winter, which Iz tho timo of greatest activity. Honce the work | of t550 calendar yaars can ouly bs comparad with | difficalty, and not alwaya correctly. In 1873 and ' 1874, the greater portion of the winter's work was, however, thrown into tho months éf No« vember and December, 80 that the comparison may bo made moro closely than proviously. THE PANIC * ¥ SEPTEMDER, 1873, forced down the pr. 19 of provisions, iu common with other prodnco, 380 low & poiut aa to ine vito beavy speculativ.: investmonts aftor the firat Llast was over; and ‘ue result of this was auad- vanco which checked the consumptive demand 80 much towards the close of tho vear that grava- feara were entertained in regard to tho ability of* Lolders to get rid of their atocke without serious’ loss. Dut these fears wero not justified by tho event, The packing season had closed ot cuabled many peoplo in the conutry to *invest alittle spare caeh on afly," who bad hitherto contented themsolves with pladding slong tho dull pathway to commercial success in the coun- try districts. Ience Chicago has becume very much more metropolitan in this reapect during the past year than ever Lefore. Itis xcarcelytoo much to claim that she bas taken the lead of Now York in epecnlative sctivity, and & compari- non of tho receipts and shipments of 1874 with those of 1873 is no rort of pauge to tho amount of bnriners dons, Tho same yusntity of Trop- erty has changed handa mearly twico as often : and the apgregato amonut of monay thlt ha been gained and fost in the process ia enormone, -0 great that ono can ecarcely make cven an intelligent guern at it. This wido extousion of the **trade " in prodnea has brought itadisadvantages. It Las developed nharp practices on Lhe part of operators, which will ‘enmparo with thoee of Jim Fisk in New York a fnw years ago. It has kept some of tho markets in a continual overstrain of excitement, aud bas caused the record of thn year to fairly (or uufafrly) bristle with culminsting powsts which are called " cornera,” ‘I'his hss Lrought our Doard of Trade into prominent notice,—and cauned it to Lo visited r ’ many poiute by New Year's Day, and af with seveie ceanwure,—8 portion of which, at | Chicag i Teart, waa tok denorved by st as an organization, | Sces0 Was practically ended oorly i Twever some of it4 members may bo worthy of | Februars. 6 soon hecomo apparont thad blame. The Board of Trade in to thecommereial world very much ss the Lar iu to the world liti- gant, 1ts members operats for clients outmds much more thau for themselves, The 70U or 500 trading membera of that orgavization do busi- nesa for probably not less than 10,000 peopla outwido. “Home of them act uhder instrnations, and many others undoubtedlv regard it as thoir duty todo the very best they can for their clicuts, a5 a lawyer would, and do sowme things in {ho capacity of broker which they would not think it hoborable to doon their own sccount. ‘This is not & good, code, but at least they are not the only clase who act np to it. And it ia uufortunate fur the morale of the Board that the least scrapulous operator is almost suro to command tho greatest number of apeculative orders. The outeide world ia therefare fully as much rengomlblo for uncommercial cou luct on stocks would be lighter than usual, and a good demand for consumption spruog up, which was continued, with some interruptions, throngh the year. Ktucks wern sorked down to an unusuals Iy low poiut by midsummer, snd were totally cleared out, ou rlmost eteadily advancing prices, | by the opemwg of the present packing neason, taough tho summer packing was lurgerthan ever beforo. This unprecedented condition of things, | Jolned to & gencral belief that there srouid be o naterial falling off in the crop of hops, induced aniroug fecling of confidenco in tho future of prices. - The lard market was made the subject of *»v succegrful corner before the winter Fy ~an. Thenthere was o regilar apeens A i “th put the prices of both hogs s ) noini, sud led to an une besn. . * speculatis. 4, Ahio uging uf tha Tho Poara an 18 the Board of Trado iteelf. ! Ve o, Hiphaon sepiee "6 offorta of the Joard to purge itsalf of tho i,“n‘;f‘fi‘,fi;,:,’;",,‘,; . b, rplom Tlio most objectionabl members and features bovo | pobion” dipped into tu. 7/ g not been very euccesaful, for reasons which need | ERTHER KIREEC WO, o ol Rt not be detaled here ; and tho legislative power of tho State bas bacn invokod to prevent corners, with but poor success. lndeed, more corners have been run on 'Change duriug the eix moaths sinco the act to prevent coruers **went into op- eration™ (July 1,1974) than in any provious tirelve months of the listory of the Board. ‘Tho tendency to speculate can never bo eradicated by Jaw : sull less by rule of a comwercial Lody the existenco of which largely depends upon tho ex- pregeion of that tendency by its members and the world outaide, 'The Loard of 'I'rade could, liowever, remove 90 per cent of the temptation to run a corner by requiring only that if » mom- ber fala to fultill bis contract within the specitied time the party of the otber gartrhall only be en- titled to claim an amount equal to the actual damsgo ho Lass sustained, euch dsmages to be estimated upon the actual valuoof the property an determined by well ascertaiued facts und con- ditions outside. The rules are now in the hands of a Revising Committee, and will probabiy ba 8o amended at the spproaching anuual meeting of the Duard. This fact remains, however, that Chicago is the great cemtre of the producs trade of this continent, And ehe hns attained to this position not lesa by virtue of ber position at tho head of tho chain’of Iakes than by that other virtuo of strict business probity which is a distinctive mark of the great majority of her produce mer- chants. ‘Ihey are ewphatically honorablo men, and fain would be rid of the incubus of the soar- iug spints who remind us of tho youth to whom the Grecisn sage remarked. that he would bo a rich man if he bad 28 much silver in his hair as bie had brass in his faco. I'he froight question, which bas for o many yoars been a sphyuxish enigms to Chicago, Beems at lazt to bo near receiviug a satisfactory solution, The paat season has been & very un- profitable one for lako carriors of produce, but their condition was oaly tho consequence of o natural reaction from the eevers Etringoncy ot tho sitnation in former years. It is not probs- bla that this class snll soon bo so straightened Agp a8 they have been duning 1874, Dut their long itself “hss been an. immenen gain to tho prodacers, and it ia even better 28 ono of the elements of reliet 1 the futare. Heretoforo the West has been heavily taxed by railroad monopolies in winter, so that the vaet quantitiea of prodoce to bo moved in the sum- mer made water-carriage dear hecauso thero was 0 much competition for freight-room. Then Lhio expenses of bandling on tho reaboard. due 1o ashiftiess and cumbrous aystem, involvod tho par- ingof another largeslice {roim the loafasit pasred from the producer to the consumer. Now the upspringing of rival routes to the seaboard, with rival termini, all auxions to tako as large a ehara 35 porsibla in the great produco movement, has forced an important cheapening of tho procoss of transportation. Thbo railroads have lowered their rates to sometbing ke working figures, avd the competition of Laltimore, Pbiiadeiphia, Boston, Portland, sud Montreal, have necessi- tated a divorce of the lateral canals in Now York from the main trunk, have reduced charges in Buffalo, and forced the merchants and carriors of New York Uity into advocating sud adoptiog & system of haudling which finds its moucl side earlier iv tho year. TIE PECULIARITIES OF TIIE MARRET depended chiolly upon the expectstion with res gard to the character of tho hog sapply. Tha. aoimals camo in with unwouted frocdom during the summer, for the doublo rcason that prices were Ligh, both on hoge aud corn. ‘Tho excite- ment 1u tho corn matkot mado farmers more than usually suxious to send in their old corn in tho berry, instead of on tho bLoof, and the old crop wad well cleaned out b{ the end of October, Then the very dry summer had militated against good Liog-foeding, and it was argued that well- fatted hogs could not be mado ou new corn. Hence it was eatimated that the number of hogs it to mako mees pork would bo comparatisely small, and that the yield of lard would be far Lelow the average. Theso expoctations hovo . been justified to some extent, and the wani of, firmness in the animal is shown in an unusual’ shrinkage afier cutting. Moats ost weight more rapidly than ever, and even the pork putupin: October lout 6 to 7 iba per brl before the really’ cold weather came on, But the quality improved later, ai the vield of pork and jard was much greater thian liad been anticipated, The epeco-' lative demand for pork was o groat that tha Enckcm vut every pound of meat into the pork arrel. tlat was fit £ go there, and deliverod it out on seller tho venr contracts, whenco it was taken up by canitaliets to carry againat other op= tions sold for ¥ebruary, Asa rulo the packers, carried no moro product than they could help; | their paticy was 10 realize, and thus avaid the clisnces of loss on a sharp decline. THE TRAPE IN MEATS has been tho loast satisfactory to operators. 'They wero taken out very freely for Luropean shipment early 1 the yoar, maby of them bay- ing been bought st the low prices which ruled during the preceding November. In summer they woro wanted in tho United States, and theio was o very brisk domand from the Southin the sutumn, with o fairmovement thitherward in tho first half of tho packing scason. But tho Fu- ropean trade was generally flat. LEnglish buy- crs leld off persistently, clanning that tho market was t0o 2igh to permit them to onarate. and hoping that the spcealative current would set downwards before long. Thors was also loxs inducement for them to buy, asour Western product found a competitor in large quantitics of German anad Irish bacon in tho Dmtish Ly kets. Hence vers few Euglish orders hose, and brokers who ususlly operate for the other sido of {he Atlantic claim that theirbusinean was never go dull a8 this season. Bome ratber largo shipmonts hsve boen mads to Europe from this cuty, but they were mostly of mesty which wero put op by parties who Liad been sont over hecio to buy hogs, kill, cut, and ship direct without tronbling our provision dealors, And thoso par- tics have not only roduced tho volume of trade in produce, but ‘thoy Lave dono more thao any otlicra to keep up prices of the raw material Thcg bought hoyus *right along,” whatever might be the market prico, whilo our packers woro bolding off for & decline, Wo niav add that light hogw ato favorites with this class of operatoss. 3TSH PORK e s i, | opened at $14.20G,14.40, doclined to 213.85 near o ny By omtant raltt, i | close of Tobruars! oo S16.4) ti Ak weck of April, fell back to $16.00, rose to 317.756 in the latror parc of May, receded to §17.15 in tho firet hnlf of June, aud advanced to §24.50 in August. The market then weakoned to €32.75 on bld, azain touched $24.50 in Soptember, and gradually sold down to #17.50 on the now erop i the boginning of November. Durlng tho next thren weeka it strengthosed o §20.75, then fell off to 318,50 in the last balf of December, and cluzed at £18.55. cousiderablo proportion of our wheat, and s much lurger percentago of our live stock, and pork products must be moved Eastward by rail during the winter. Hitherto this hos been Qone at prices which have barely left tho farmor » fair compeneation for bia toil. Now there 18 & prospect that the pecplo of tho West will boabla o supply their preduce to Lurope In ordinary veays by means of freight rates which will at ouca cuable them to secura botter priceson tho fatm, and yet to competo on moro favorably terms with ‘the * pauper lalor” of the great grain-growing areas of tho 01 World. ‘I'he average freight rate for wheat from Chicago to Butfalo for tho pact seuson was3.de, which was faily 0 per cent lawer than the sveragorate for tho previous five yours ; and oxactly 50 per cent less than tho average of 1874, TLo fulloming shows o average freights on wheat for the past six %, from Chicago to Buffalo by lako, and from uffalo to New York by canal, and the averuge trom Chicago to Nuw Yor! 1ARD onered at #9407 5.50 pue 100 ths, and rozo to- #0,93 at the closa of January, receded to 4,53 in the end of Februgry, and roso, atmost steadily,, to £11.15 in June, thence advanced to §15.00 i Anguet, and was steadily held at £16.00 for the. next two months, in_settlements with slorts, with occasious! sales for shipment at €14.50@ 1475, Now lard sold at §18.00,in tho middle of October, vold duwr to 813,00 at the closo of that month, advanced to 814.00 in the first half of November, recoded to §12,90 tho third weok lu Devewber, and closed at £18,10, Averane Arernge Average 0o ear. Take, bycanal, lakcandcanal, TUE CODUSE OF THY MARKLT I¥ MEATS A by take, By conat, lakeandemtly | o Gty by gauged by noting ono kind; bat 186 ) fi'? tiero was more dhilferonco in 237% thau usual. 1 2 ‘The weather in the ilrat part of tho laat packing peason was very unfavorablo for curing, and shoulders becamo tainted in consequence, much moroe readily than wdes. A great wany of the shouldors shipped out from this city woro com= plained of carly in the year, sad thoy got, litar- ally, into such bad wdor that thoro wos no de-; maud for thom, while ridos mot with roady sale, Short ribg, loude, opeded at 73ge, advancead to B¥{cm A¥n|, recoded to 85,c, rone to Y{cat the, ond of May, fell back to Y¢, and advanced to] ¢ 143{c in the midale of Septomber, the old ofos-{ ing at 130 in October. ‘Thbo new openad at 10i4c, | fell to 83, by tho closo of October, advaoced o 10}¢ in'Novembor, sod fell back to 91, olon- iug mt 9tjo. short cleurs averaged Ifo above liort riba most of the year, but the differonce widoned to fge iu December. RECELTH, Tho following wers tha receipts of . provislons and divssed hogs dusiug threa years : 4 181, . Tho low rates of lake freights during the pax peason bave helped 1o taw thrsugh Chivago no wmall proportion of tho producy that would atherwivo Xim‘s gone around our city by rail, Large quavtities of corn came hither” from F'o- otlaand other points fur jake shipment, which would not have touched Chicago but for Jaw ratca by water, which tho railroads were unavlo to competo with successfulls. 5 ‘Fho volume of produca that is pouring throngh our city is euormous. Think Of it “Not leks than 2,447,225 tous of broadatufls, and abont 954,000 tond of livo-stock. If to this wo add luaiber sud coal, Wit the other produco noted f1s tho tableg bolosw, wo shall Lave s grand total of 7,056,000 tous received during 1674, —oqual to ou aversgo stream of 13.4 tons for each one 25,6 1813, 1872 of tho 525,600 minutes in & common year, iu- o Cluding nights sud Sundays, o much of com- S g morcial fuol roquired to keep in motion the 83782934 49,200.61 wighty ougine ; #o much of food to satiefy the 2,871,638 19,11, eravings of the giant Chicago, V408833 6,019, For tho handling of the grain in Chicago wo 29,1 233, havo now Ktteon clevators, wmith an appregste ., BNIBMENTS. storago capacity of 14,100,000 b, without n¢lud- T'he correspouding shipwents wore : ing nfio Dauville aud Neeley's. Ouo of theses w.m'.\x the AJJUMM’ Dolob& lCo,'u o, wiLu Hpnm;]“ x;l Lo mt:rl‘ e : lfi:"’" 1,500, bu, was built during the par year. f 4. 'y b, : 2 ), 286,404 . "Thero are also immenso norfiuousa- tor onr AT—'.;;:\' “'fu 3 M‘m tfig“ B:g lg.%o.us and provieions. 'The conduct of the busincss Of [ Jresued Hogey Nowr, 157,013 ".mg,'w: 'Mifi i warabous{ug in J874 hus beon unusually ¥atisfuc- . _AWHIG tory, no wmrluutu of couscquenco LAVIDG been TLOUR " . made, No false bottoms in bins, no surreptitivud TUE MOVEMENT Ia FLOVR . .. ) ; Lo of grades, t3 londing of grain, uo unfair T B B exbibits s moderato jocresss over that of:.1818, in former yoars. T'he grain-inspuciion, oo, has en porfoimud very butisfactorily, tho apucald | which {8 very ustisfactory vhon we tako jnta tg lht’:’i‘um{uifi::a '.1"1‘}15. {le\:-m i *“;“::"‘:;‘, account the nnmerons dnwbwhwhlch‘z:?q .::" "“.‘.’,2‘&‘;‘3{}., businees of ~ e ~pida 3“;;995 sustained, lh'ual; tho trmde hay ‘o Board of ‘Irade It bu a4 40 + “del | dutl during a great put of the yoayy gud.less way. Our etandards o 2 62 at nng profitable than usual, D rogarded a8 very 500&1 1t e 2 Tho tlour moveme:t Of 1873 wag ... in all tho scsboard po - ™1 vont greater than Ly of 1872, wr'tt . j Chicago. ! « 4 stimulus, and we 10t ouly T £ nxespouding inctse-{n 4 TUE MA Vit ., but noed scarcely3asy 1ha been tha 8ec - ~poeals g exites | allght mepak fr(m B meut dustug » 7, 40 o o THE VARG e piin iy iy high ped - L X uu?-x ‘Wi Rk 'u‘fmig‘v‘y