Chicago Daily Tribune Newspaper, August 19, 1877, Page 5

* tory this year by a tyrant man. : * ‘THE CHICAGO TRIBUNE : , : SUNDAY. AUGUST 19, 1877—-SIX TEEN PAGES. ed from his pay for various notices of “genial” and “breezy” contemporaries, for which the obtuse publisher has charged as advertisements at special-notice rates. ——————___.. ‘And still Movrap Hatsreat”Errespr’s scalp stands where it stood, and “Gar Hann- rox” contents herself with getting mad and tearing her Scnunz. . $$ Now that Senator Congiixcis home, it should not take Mr. ALoxzo B. CorneLvlong to make uphis mind whether he is a vassal or a peer. a Apout the only reason that can be assigned for cailing Cincinnati the Paris of America is thst it bas Notre Dame Cathedral. —————— Prof. Watson, of Detroit, has discovered something new glittering inthe sky. Perbaps itis BEEcnER’s “Life of Christ.” See vis possible that this Lrrrie-Bic-Man who js accompanying SroTrep Tai and Rep Croup to Washington is Suxset Cox. a ALEXANDRE Dusas. the younger, delivering the prizes for virtuc, isa sight to make a terra cotta dog laugh. The trouble with “ Ext Perkrss" is that ho pots the “‘e"” at the wrong end of his Christian name. ——— Perhaps {n France they would call Mr. Hesny J. Fonnen’s operations fourberies. ——<—<— PERSONAL Fanny Davenport likes theEnglish women. She finds them remarkably bandsome. LEstafee appeals to the troubled poli- ticians of Paris to ‘‘orgacize first and quarrel af- terwards, if it is absolt.tely necessary to quarrel at all.” : “The New York Post intimates that Howells has never asked fora foreicn appointment, and never thongbt of one, for the simple reason that he is s kinsman of Bresident Hayes, M. Gustave Dore, who recently returned from London to Paris, is working on a colossal vase, ornamented with 150 figures, and intended for the great Exhibition of next year. The London Spectator compliments the ‘Newe for itsachievement of telegraphing a graphic description, six colamns long, of the battle before Plevna in time for publication two days after the event. . Shirley H. France, the actor, has been taken tos hospital for the insane, While a mem- ver of the Boston Theatre company tome years ago he gradnated at the bead of his class in the Har- ‘yard Medical School. Sarah Jewett’s ‘“Deenhaven” is com- mended by the English weeklies, because not a single young man appears in the whole coure of the story. The book 1s said to be amazingly im- proved by the omissidn. The Nation observes sportively that Prof. William Mathews’ ‘+ Hours with Men and Books” is ‘+a collection of well-worn ana about literary mon strong upon lines of thought that sre more ‘than commonly commonplace.” Mspleson's Grand Opera-House on the ‘Thames embankment isin trouble for want of a roof. Abont $400,000 have been expended on the Dullding thus far, and the roof will cost $200, 000 more. The money isnot forthcoming. ‘The New York papers find fault with Sena- tor Conkling's geography, merely because he de- scribed Albany, his ** birth-piace epot, as standing atthe month of the Mohawk and the head ofthe Hudson,” when it etands neither in one place nor the other, f x pABbor ana Dr. Bastithh are engaged at Paris in a ecrics of experiments to eettle the ques- tion as to the spontancous development of germs. Dr. Bastian is en Englishman, M. Pasteur ‘a Frenchman. The latter has offered the former the use of his taboratory. The courtesy of the act is. much admired. . A French paper has a good hit at current superstition: ‘‘Two friends mcet—one discovers a pecutigr odor. *Sapristi! What is tats’ . Super- stitious friend, with penchant for gambling—* Ah! ‘Lam going to St. Sebastian, and am taking a dead ratin my pocket. They tell me there ie nothing bringe fuck ‘ike that." * According to M. Perrin an eighth or a tenth portion of the French army is incapable of doing good service in consequence of indistinct vision. M. Perrin formally proposes to remedy this by the adoption of spectacles. It is afirmed that spectacles are useful, if not indispensable, to 47 per cent of the oflicers coming from the Ecole Polytechnique. ‘Lhe statue of the Prince of Wales to be erected in Boinbay in commemoration of his Royal Highness’ visit to the Presidency is now nearly completed, The statue, waich is equestrian, rep- reecnts bis. Royal Wizhness in his uniform of a Field Marshal. The entire cost of the underiak- ing has been defrayed by the Parsces of the Bom- bay Presidéncy. ‘The gentler sex will be glad to hear that ‘acither first nor second prize in tragedy was car- ried off at the examination of the’ Paris Conserva- In the class of women 0 pupil of M. Bretsant obtained a second prize. M. Barral and Mlle. Corriere obtained first prizes in comedy, and Mile. Sieos a second prize. ‘No eccond prize was awarded among the men. ‘The last two stanzas of William Cullen Bryant's Besciuzton poem are as follows: ‘Oh, never may the purple stan Of combat blot there Neids again, Nor this fair valley ever cease To wear the plactd stnfic of peace. Tet here. beside that battlefield, We plight the vow that. ere we yield ‘The rishts for which our fathers Lied, Our viood auall steep the ground we tread. Gen. N. P. Banks has made an affidavit denying the charges of John Q. Thompson of adultery with his wife. Privately he saya in rela- tion to the charges: ‘*There is uot a word of truth so far as 1 am concerned.” The many friends of the General have expressed confidence in him since the publication of the scandal, es- pecially his most intimate associates at Waltham. The Nation says: ‘‘Tho late Benjamin P. Hunt, of Philadelphia, who was a native of Massachusetts, and who died in Febraary, be- questhed his invaluable collection of works relat- ing tothe West Indies, and particularly to Harti, tothe Boston Public Library. ‘The twenty-fifth ‘nual report of that institution, just issued, con- ding a chort eketch of Mr. Hunt, who was an an- ostentatious but devoted friend of the colored race.” Mr. George William Curtis, writing of oficial precedence in hie ‘‘Easy Chair,” says: ‘* 4 Senator gave a dinner, and when the moment arrived, he turned to the senior Senator of the United States, who was present, and asked him to hand ont the Iady of the house. ‘But Ieee the Secretary of State,‘ replied the senior. ‘ No guest in my bonse takes precedence of the senior member of the body that makes Secretaries of State,’ was the lofty reply.” The Lady Mayoress of London, Miss Ada Louiea White, was to have been married Aug. 9 with Mr. Cecil Herbert Thornton Price, partner in & Scsndinavian mercantile firm. The ccremony was to take place in St. Paul's, and it was expected the assemalage on the occasion would be very numerous and fashionable. it had been arranged that the nuptials should be celebrated by the Arch- Dishop of Canterbury, part in the services being ed taken by the Bishop ©f Ely and Canon Lid- m An historical drama, entitled ‘‘ Perrinet Leclore,” having brought on the French stage dv a traitor to King and country Marehal Jean de Vil- Tiers, who flonristfed 400 years ago, an action for defamation has been inetitated by his alleged de> scendant, M. de Villiers, of Isle Adam; bat the ‘Tribunal, without inquiring into his ancestry, nonsnited him, on the ground that a novelist or Playwright Ss entitled to borrow rea] names and mix up fact and fiction, provided he does not give 4 well-known personage a chtracter altogether op- ‘Poeed to historical truth. The London Times says: ‘Lady Strang- ford has just published a statement accounting for the larze eum of £28,892 intrasted to her by the public for the relief of the Bulgarians." The a counte, vouchers, etc., were in five different lan- Ruages, and involved fluctuations in metal and Paper currencies of various denominations and values, In order to have them verified, they were Placed in the hands of a firm of celebrated London accountants; previously, thay had been kept by Lady Strangford herself. . She charged nothing for her own expenses or those of her servants from England and back, and during their stay of cight months in Bulgaria. | “HARD PAN.” The Elements of an Exception- al Prosperity for Chica- go During the Next Year, Some Statistics of Our In- creasing Trade with Kansas and * Texas. What Our New Railroad Con- nections Are Doing for Us in the Latter State. ‘ The Rising Value of Farm- ing Lands Every-~ where in the - West. . : Twenty Miles of, Additional Horse-Railway Built in “Chicago in the Last Year.” : How Cresus Refuses to Be . Comforted . Because =e He Cannot Be Midas. The Time Allowed for Redemp- tion. After Foreclosure * of Mortgages and Trust-Deeds. Some Legal Points Which May Possibly Goad the Flanks of the United States Courts. Tn our real-estate article of last Sunday we gave afew of the most prominent facts in re- gard to the increase of crops in the Northwest, and the increase of manufactures in the city, which afford a reasonable foundation for the expectation not only of an unusually large fall trade, but of acontinued increase of prosperity for Chicago real-estate interests, notwithstand- ing the depression that might prevail else- where. To recapitulate briefly, we showed that the farmers of the four States—Wisconsin, Min- nesota, Iowa, and Kansas—would have at least 56,000,000 bushels more wheat to sell than last year; that the average ability of the farmers in these States to buy goous would be at least 60 per cent greater than inst year; that our home-manufacturing futerests, here in the city, were increasing this year in spite of the hard times at the rate of from 15 to 25 per cent. over last year in nearly all of the most impor- tant branches of manufacture, and that o drougnt in the Upper Mississippi pineries last spring would result in giving Chicago near- ly half the Western Iumber trade, which has heretofore been supplicd*from that region. But tlie above facts relate only to the region which has for a long time been acknowledged as strictly tributary to Chicago,—they had no reference to that broader foundation ‘for a special increase of trade in this city which is to be found in the : EXTENSION OF TRADE made by the extension of Chicago railroads in the last year or two, and the effects whicn their extensions arc beginning to 6how in a vast in- crease of traffic between this city and the further States and Territories which have not hereto- fore been counted as very important factors in our prosperity, viz: Dakota, Colorado, New Mexico, Texas, and also all that part of the South traversed by the new tributary roads of the Ilinois Central. Omitting for the present any statistics in regard to Dakota with its creat increase of grain crops, Culorado and New Mex- | ico with their numerous new mines, which are being opened in greater numbers now than ever before, Iet us turn to that State which until within the past eighteen months was scarcely beard of as a trade tributary to Chicago, and give a few facts in regard to the INCREASE OF TRADE WITH TEXAS. ‘A few days ago our attention was called to the fact that, owing to the increase of trade between Chicago and Texas, the Chicago, Burlington & Quincy Railroad Company had put on a line of sleeping coaches rauning direct through, with- out change of cars, from Chicago to Houston, Tex., the route being via the Missouri, Kansas & Texas Railway, and through Hannibal, Se- dalia, Fort Scott, Denison, and Dallas. There had already for a year been sleeping-car accom- modations from Chicago to Houston, via the Chicago & Alton Koad to St. Louis, and con- necting there with the same kind of cars on the Tron Mountain Road; but this increase of ac- commodation made by the Chicago, Burlington & Quincy, by the establishment of the first through ine of cars, indicated such an inerease of travel between Chicago and Texas that it suggested the inquiry as tothe gencral increase of business relations, and at our request Mr. John 8. Corning, the Chicago Contracting Agent of the Missouri, Kansas & ‘lexas, has prepared the following comparative statement of the INCREASE OF FREIGHT SHIPMENTS PROM CHICAGO to all points on the line of the M., EK. &T. in the month of July, 1877, as compared with the same for July, 1876, viz. fas atche Spay aati No. of car- “No. of c toads. 98 22 Shinglest.. Agricuitaral implements... 4 Machinery. 3 2 M 1 a 5 1 i i 2 5 7 Miscellaneous a 5 ‘Total number of cars......82 ‘162 It is true that only a portion of the abore total number of carloads went to apy part of Texas,—more than half the whole went to the various points tn Kansas and the Indian Territory,—but it 1s also true that some of the most important items of shipment as for instance that of wagons, were nearly al] shipped to Texas; the same is true with alarge share of the lumber and sash, doors, and blinds. Tbe point of most interest for the purposes of this article, however, is that probably three-fourths of the foreging ship- ments of freicht represent sales of merchandise made in Chicago to the consumers in Kansas and Texas, - The wagon-trade (Which it will be seen is a very important one, when it requires twenty car-loads per month by one road alone), represents fewer sales in Chicago than any other item in the list. Fully three-fourths of this enormous Texan demand for wagons is supplied by the factories at South Bend, Ind., Racine, Milwaukee, and Sheboygan, the wagons coming through Chicago, but probably one-fifth of the whole demand is supplied by pur- chase of the wagons in Chicago, # large part of these being manufactured here. ‘This increase of business on the Missouri, Kansas & Texas Road in 1877, a8 compared, is not, as might be supposed, a diversion of bust ness from other Chicago roads, but is wholly due to the increased demand for all sorts of cominodities by the increasing population of Kansas and Texas, The latter State is filling up with emigrants from the Atlantic States at a rate which now equals the marvelous growth of Kansas in the past few years. The lands of ‘Texas are rich, the climate is healthful; moucy is plenty there, the basis of trade is cash, and in every respect it is growing to be . ONE OF THE MOST IMPORTANT FIELDS OF CHI- CAGO COMMERCIAL ENTERPRISE. As for what products come from Kansas and Texas to.a murket in Cafcago, the most_impor- tant part is the cattle from Texas, which come direct to the Chicago Stock-Yards, and help to build up that business which is enriching so mang. Chicago dealers, as well as furnishing em- Ployment for thousands of laborers. The total. number of car-loads of cattle which came into Chicago from the Missourl, Kansas. & Texas Railway in the months of June and July, 1877, was 1,010, this beingalarge increase on the number that came to this city from that road before its recent connection with the Chicago, Burlington & Quincy. : The General Freight-Agent of the Iiuols Central Railroad has also furnished us with a few fieures which may give an approximate no- tion of the magnitude of the Texas business of that road, which bas grown to present dimen- sions almost entirely within the last three years, since the Illinois Central secureda connection at Cairo with the St. Louls & Iron Mountain Rail- road. During the year 1876 there were shipped "| from Chicago to Texas, via THE ILLINOIS CENTRAL AND IRON MOUNTAIN ROADS, 250 cars of agricultural implements, wagons, etc., and 400 car-loads.of lumber. During the same year the Illinois Central Company brought out of Texas, and direct to the Stock- Yards of Chicago, about 1,000 car-loads of cattle, We have . not the figures for any comparison of this year with last fn the case of the Hlinois Central, but the frefcht agent assures us that the total of the above- mentioned articles shipped to Texas via these roads will be much larger in 1877 than in 1876; indeed, the whole Texas freight business from and to Chicago is increasing go rapidly that the Company find it necessary to be continually building new cars for that route. Incidental to these items of the increasing di- recttrade of Chicago with Texas, we may men- tion that in 1876 the Tlinois Central Company brought out of Texas and Arkansas for trans- shipment to the East. 25,000,000 pounds, or about 50,000 bales, of cotton. The Missouri, Kansas & Texas Road is also bringing cotton from Texas to Chicago for transfer to Eastern roads at the rate of abbut 40,000 bales per year, and in another year the amount of Texas cotton moving castward through Chicago by these two great railways will probably exceed 100,000 bales per annum. Cf course some wise people will smile that we should view this movement of cotton through Chicago to the Eastern spinners as cutting any figure in the future growth snd prosperity of this city, but it will at least show the increasing iswealth of the States where Chicago merchants and manufacturers are finding a rapidly enfare- ing market for their goods,—even if it does not show that some time within a few years a con- siderable portion of their cotton will be spun into cloth here in Chicago instead of being sent 1,000 miles east by rail for that purpose. ADVANCE IX VALUE OF FARM LANDS GENER- ALLY. But now, coming again nearer home than the far plains of Kansas and Texas, it is an estab- lished fact that the value of farming lands everywhere in illinois, Iowa, Minnesota, and some parts of Wisconsin, arg steadily facreasing in value and. price, and those who have made this a subject of special observation say that the increase has been most marked in the last eighteen months—just thetimeduring which city realestate bas been most depressed. This recent increase in the value of Western farming lands is, however, one of the most important indica- tions of a turn in the tide of real estate inter- ests generally. The wealth and prosperity of the agricultural territory tributary to Chicago is the foundation of all the wealth and prosper- ity of the city. If the great Northwest, with its enormbus increase of grain crops this year, is prosperous, the trade, wealth, population, and value of real estate of Chicago—with its area of trafic increasing from year to year, as we bave indicated in Texas and Kansas—must soon feel the benefit. : In spite of all the evidences of increasing prosperity inthe West, which we have cited in this and our previous article (last Sunday), it 1s absolutely amusing to see with what tenacity a large proportion of capitalists CLING TO THE GLOOMY SIDE OF THINGS. “J think ali this is totally wrong and de- lusive,” aid a prominent Chicago capitalist to the writer—referring to the publication of statistics of the increased crops this year, ete. “But why, my dear sir; it’s all true, all these statistics of increased crops, and increased manufactures in Chicago this year as compared with last, are not mere: hearsay,—we have com- piled them from official statistics in most cases, and are prepared to prove that our ficures are rather below than above the facts ?”" "Yes, yes,” saldthe millionaire, “they may all be true as to figures, butI tell you we can have no permanent prosperity in this country, orany part of It, until we resume specie pay- ments.” “Do you mean specie payments in gold?” “Certamly. Redemption in anything else than gold would be no redemption at all, but only repudiation.”” “Do you think redemption in gold practica- ble,—is the gold to be had in the world?” “Of course; plenty of it, if we will only economize our expenses and get it.”” “But have you read—” “No, no,”—he interrupted, oblivious of whether we refered to United States Commis- sioner Blake’s Keport on the Precious Metals, or the Fifth Chapter of St. James—*no, I don’t get time to read books; I don’t even read the news- papers. I usually tryin the mornings to skin over the headings, but [ thiuk the newspapers and the theorists are all wrong; they are all misleading the people; we shall have no good times until we resume: specie payments. I think too, that this Board of Trade 13 a curse to Chicago; the majority of them area set of shysters, who are continually selling what they have'nt got, and then pleading the ‘baby act? when they are required to pay, and the result is they keep the range of prices of produce lower than they would be.” « But don’t they also run prices up frequent- ly far above what they would be,—there must be ‘bulls,’ or else the bears would have nobody to sell to?” “The whole business of specalation fs wrong, and ought to be abolished.” “ But, coming back to the previous ‘question, won't the farmers of the Northwest receive 50°} or60 per cent more for their total crops this year than last?” Yes, possibly, if prices don’t go too low; but they won't buy any more goods,—they have learned to be economical.”* “ But what will they dg with this increase of money for their crops of 18771” “Ob, they will pay their debts; they won't buy any more foods.” “But even if the farmers do pay their debts, what will those do to whom the debts are paid, —hoard the money?” Here an faterruption occurred from one of the dozen impatient clerks and salesmen who had been waiting with all sorts of questions to be set- tled by the merchant in regard to their dealings with the twenty-five or thirty busy country buy- ers of goods, who were at that moment distrib- uted in various parts of the immense sales- room} and with this evidence of continued dull times before his eyes, the writer went away musing as to whether the debts pafd by the farmersto the country merchants, and by them to this great city merchant, would be hoarded in money, or whether the surplus of capital over therequirements of his trade would not be invest~ edin real estate, valuable business corner lots, or possibly even a more palatial mansion than the one he occupies now. Would he keep these collected debts in greenbacksand waigfor specie payments? And then there came ‘him the vision ot how—if the aforesaid merchant was ask- ed thistatter question—he might possibly elevate his finger to bis nether eyelid, und, drawing it gently down, ask the querist if ho saw any green back there. ‘TWENTY MILES OF NORSE-RAILWAY I2R ANNUM. Among the other evidences of increasing pop- ulation in Chicego is the increase of strect-car trayel which has made the necessity for numer- ous extensions of the various lines in the last year. ‘The West Division Railway Company have ex- tended their various lines nearly nine miles in the last twelve months, as follows, viz: ‘ ‘Tne South Halsted strect linehas been extend- ed from Harrison streét to the South Branch of the river. The Ogden avenue line bas been extended from Madison street to Western avenue. From this point we understand the contracts. have been let for a steam dummy track to Lawndale. The Blue Island line has been extended from Fifteenth street to Twenty-second. . ‘The Lake street Jine from Western avenue to the railway crossing. ‘Tivo new lines of cars have also been put on new routes by the West Side Company since July 1, as follow: ‘The Canal street and Canalport avenue line runs out on Randolph to Clinton street, south on Clinton to Harrison, cast on Harrison to Canal, south on Canal to Canalport avenue, thence southwest on Canalnort avenue to Twen-. ty-second street. The new part of this line is about two and one-fourth miles, ‘The Twelfth and Cansl street line runs on the same tracks asthe above,as far as Twelfth street, aud thence west on a new route one and: a half miles to Ashland avenue, The South Side Railway Company have ex- tended their Indiana avenue line within the last month about two miles from Thirty-ninth street to Fifty-first, and thence east to the South Park. They have also, within the post six months, built a new road on Thirty-ninth street, from Cottage Grove avenue to the Stock-Yards. The South Halsted street line of the South Side Company, on South Halsted street, from the South Branch: of the river tothe Union Stock-Yards, about two mes, is also under con- tract, and will be built this fall. This line will connect at the river with the West Side Com- pany’s incon Halsted street, and thus make a complete new line of horse-railway via Halsted street to the Stock-Yards. In the northwestern quarter of the city the Mijwaukee avenue line of railway was recently extended west on North avenue to Humboldt Park. Thus within the last twelve months there have been extensions of the various horse-rail- way lines of the city, in the aggregate about twenty miles. No one, we think, will have the temerity to accuse the railway companics of hay- ing built this additional twenty miles of railway for fun,—more nickels was the great incentive, and these additional nickels are undoubtedly com- ing from a city population that is increasing so fast that it requires an increase of horse-railways at the rate of twenty miles per annum, and the establishment of nearly a dozen new omnibus- linesin the same time. In our real estate article of Inst Sunday, un- der the general head of ‘Hard Pan,” a passing reference was made to . ‘ILLEGAL FORECLOSURES, and oa this matter we believe that the general public, anderen the parties most interested, have very little idea of how large a proportion of the foreclosures of real-estate mortgages and of the sales under trust-deeds are in viulation of the laws of the State. It is well understood that a very large major- ity of the loans on Chicago real estate—prob- ably seven-cighths of the whole—are of money belonging to individuals or corporations of other States. This fact throws alt cases of litigation in regard to the foreclosure of such mortzages or sales under such trust-decds into the United States Courts, where such sales or foreclosures are then made under a decree of the Court. It is also well known by those whose business makes them conversant. with such affairs, thar avery large proportion of non-resident lenders have preferred to have their sales and forcclos- ures made under such decrees of the United States Courts, though it is probably not so well Known why the money-lenders preferred these foreclosures’ and sales made under the decrees of the courts, instead of the simpler manner provided for in the trast-deeds and mortgages; but the following facts will probably throw some light on the causes of this preference, and ‘at the same time show where—in the opinion of some of the best legal talent in the city—a large proportion of such foreclosures are legal. In the case of the foreclosure of a mortgage or sale under a trust-deed, where both the bor- rower and lender are residents of this State, if the sale is in any manner* contested by the mortgagor, the case goes into one of the State courts, and incase of a decree that the sale shall be made ‘THE PROCESS OF SALE IS AS FOLLOWS, viz.: The sale is ordered by the Court to take place, usually within a few days~say ten—after the issue of the decree. Duc notice having been given according to law, the Master-in-Chancery then proceeds to sell, and upon the sale issues to the buyer a certificate of such pur- chase, but this certificate docs not en- title the buyer to a deed of the property until fifteen months after,the ante of cale. Any time within twelve months after euch sale the mortgageor may redeem the prop- erty by. payment of the sum for which he was indebted at the time of sale, together with 10 per cent interest from that time until redemp- tion. After the expiration of the twelve months, the right of the mortgageor to redeem is extinguished, but at any time between the expiration of the twelve months and the ex- piration of the fifteen months nrst mentioned, yiz.: for three months after the extinguish- ment of the mortgaceor’s right to redeem, any judgment creditor of the mortgagecr may re- deem the property upon the same terms as were open, during the first twelve months; to the mortgageor. THESE EQUITIES OF REDEMPTION are In accordance with express provisions, in re- gard to such foreclosures, in the Statutes of the State of Mlinois, as may be seen by refer- ence to Cap. 77, Secs. 18 and 20 of the Revised Statutes of 1874; these. provisions, however, being also only re-enactments of the Statutes of: 1845, and thus reaching back so as to cover probably every present loan on Chicago real estate. But now we come to the point of why lend- ers.of money who were non-residents of the State, and therefore have access tc the United tates courts, have chosen to forecbse through the courts at all. Inthe United States Courts {chancery side) it has been the rule in case of de- cree of foreclosure of mortgage, or oder of sale under a trust-deed, ta order that-unicss the amount duc on such mortgage or ‘trust-deed should be paid within one hundred days from the entry of the decree, the Master in Chancery should sell the property at. the end ¢ the nun- dred days, and at once upon euch ale should five the purchaser a deed. This, it his been as- sumed, makes an end of the whole natter, the result being that the borrower of a nm-resident Jender is cut out of one year for rdemption of the property, which he would unquistionably have if the lender had been a resident of the State, and the foreclosure of the matgage or trast-deed consequently made under adecree of @ State court. b But now comes the question: Is nd all this summary proceeding of the- United States Courts in such cases illegal? One of tie phases of “State rights” fully sustained by tie decis- ions of the Supreme Court of the Unitid States is, that ‘THE UNITED STATES COURTS SHALL Bl BOUND 1N THEIR DECISIONS BY THE LAWS OF THE STATES i in which they are located, and even further, that in their rulings they shall follow te prac- tice of the State Courts, and it seem|at least strange that a citizen of any State shoud, under these circumstances, be deprived by thi United States Courts of any equities guaranted him by the laws of his State. Without at all pre- suming to criticise the decisions of thi United States Courts, we may mention here shat the question of legality in their decisions in several } recent important cases of foreclosure, will prob- ably come up in the proper courts this fall, and their fate be watched with much interest as in- volving the titles toa great deal of property claimed to have been illegally sold, and deeds given ignoring the equities of redemption as provided for in the statutes of the State. Ofcourse it will be sald that this fifteen months’ redemption provided tor in the State jaws is but little consolation to debtors who have been or arc about to be sold out under the provisions of trust-deeds in cases where there is no dispute as to the contract, and. therefore no excuse for going into the courts. THE LAW PROVIDES this fifteen months’ redemption only in cases of sales made under decrees of the couté:, and in ease of a simple sale by the trustee named in a trust-deed there would be no such time for re- demption. But the experience of morey-lend- ers inmaking such sales and foreclosures has beea unfavorsble to it. The specifications of the powers of sale and the terms of the con- tract in the loan must be so strictly followed that many of the largest money-lending cor- Pporations have Chosen to go into the courts and sell under their decrces in preference to relying upon the powers in the trust-decds alone. It will thus be scen that this question of the prac- tice of the Unitea States courts will affect the titles to a large amount of property already sold, besides being of great interest to present debtors who fear they may be sold out. TAXATION. One of the clogs on the real estate market is the outrageous taxation, not only in the city, batin the towns adjoining it. Among these Hyde Park and Lake are getting avery bad prominence. In some, perhaps most cases, ex- cept where the property belongs to some mem- ber of the ringswhich control the towns, it is assessed for more than it would bring either at public sale or even at the old rate, “one-quarter down, balance in one, two, and three years, with 6 percent interest.” The fact is, owners have to pay for their property every few years twice over, and if the ringsters continuc to sad- dle the towns with debts and by “ ways that are dark” plunder the poor, helpless owners, the time is not distant when afl the values will be swallowed up in this remorseless robbery. The taxpayers are beginning to moye in these matters, several meetings of those hay- ing recently been held in Lake and Hyde Park, andif some of the villains who have been rob- bing the people of their money do not find themselves in State’s prison it will be because they skip out * in time to escape it. THE LOAN MARKET. Agents have done aslightly better business the past week, and bave several applications for loans under consideration, with good expecta- tions of bringing them to a happy conclusion. ‘The weakness in the rates of interest is themain feature. Capitalists are disposed to take lower rates where renewals are askea for, in preference to gobbling up the property, and even where there is norequest- for an extension, the money-lender is not at all anxious to handle his funds, and is willing to submit to concessions so long as the borrower keeps up his interest. The market is not active, butit is improving. In comparison with new loans payments cannot be reported so good as they were at the commencement of the month. Some agents who made reckless in- vestments in times past are doing little else than eclling out their customers. The important loans of the weck were as fol- lows: Michigan avenue, between ‘{wenty-ninth and Thirtieth streets, 50 fect, cast front, $10,000; five years, at 7 per cent. Fifth avenue, between Monroe and Madison streets, 20 feet, west front, $12,000; five years vat 73¢ per eent. i State street, southwest corner of Van Buren street, 50x100 feet, $15,000; five years at7 per cent. Centre strect, between Franklin and Sedg- wick streets, 120 fect, torth front, $8,000; five years at 7 per cent. Bridgeport, twelve lots between Keelcy and Farrell streets, southeast of Archer avenue, $15,000; five years at10 per cent. ‘Wabash avenue, northeast corner of Congress street, 40 feet, west front, $10,000; two years at 6 ver cent. Calumet avenue, 95 fect, west front, north- east corner of ‘I'hirty-second street, $6,000; four years at 8 per cent. COMPARATIVE STATEMENT FOR THE WERK ENDING ava, 18. 1877. No. | @eiderat'n| 40'§ 224, 200) 3 35, 352| iy 269, 812 COMPARATIVE STATEMENT FROM AUG. 1 TO AUG. 18, 1877. ‘1876. Instramenit ~~ Gaideratal| No.) Oslderat'n. ‘Trust-deeds| 297/$ 801,102 460/$ 1,165,244 Mortgages... 74 80,710} 104 174,407 Aggregate..] 371/$ 042,812)| 504§ 1,390,652 SALES OF THE WEEK. ‘There is comparatively nothing doing in this line. The transfers of the past week are few in number, and inyolve but little money. There is a pause in tne demand for even choice business property, while suburban real estate moves very slowly. It issatisfactory to know that cheap ots begin to show a little unimation. The pur- chases of this deseription of property have been made by men of small means with a view to residence. ‘Their favors have been pretty evenly distributed’ between the towns and villages to the north, west, and south. The following sales’ afford some indication of what bas been doing: Robert H. Nolton sold to T. B. Blackstone lot on Michigan avenne, 144 feet south of Thir- teenth street, west front, 24x130 fect, with building, for $15,000. : Patrick Mohan sold to Union Stock-Yards & ‘Transit Company lot on Twenty-ninth strect, 434 fect west of Western avenue, south front, 200 fect, running north to river, for $15,576. Jeaac Lamb sold to Martin L. Bundy 25x153 feet, west front, on Michigan avenue, for 25,000. Slevea lots in Brown's Addition to La Grange have been sold at $100 each. Five lots in Kimball’s addition to Norwood Park brought $4,000. ‘Twelve lots in Block 2, Jefferson, were sold, for $3,600. Nine lots at Cornell changed hands at an aver- age price of $300. “N.D. Swanson, one-story brick and stone dwelling, on posts and sills, Pearson strect, near State, to cost $400. M. W. Leperr, two-story basement 36x56, Wilcox avenue. Jobn Maher, three-story to a two-story house, wall to be thickened to twelve inches. Henry Seplitt. one-story bricx basement; 2ix 48, 688 Twenty-first etreet. August Gauske, two-story store and dwelling, 512 Blue Island avenue, to cost $1,800. ‘Adam Moser, three-story and basement store and dwelling, 20356, 809 South Halsted, to cost $3,000. A. Farrar, a barn and two-story basement brick dwelling, 42x45, 513 West Washington street, to cost $15,000. ‘Walker, Oakley & Co., brick tannery, 53, 31x 230, and 100 feet deep, on Elston avenue. ‘Michsel Kean, two-story frame dwelling, 22x 42, 116 Front street. Bennett Medical Company, brick hospital, 40 x80, 511 and 513 State strect, to cost $3,500. Jomes Farrell, one-story brick dwelling, 20x 80, Thirty-fifth strect, near Bears, to cost $400. N. K. Fairbank, shed,‘ 117x96, Wentworth avenue, to cost $3,500. J. Fixley, brick addition, 18x%, 275 Cottage Grove avenue, to cost $700. Charles Zielke, raise one-story cottage, 255 ‘West Nineteenth etreet. 3 Adolph Bonds, three-story brick ice-house, 29 x35, 709 South Canal street, to cost $2,000. John Sanders, addition 2x18, 80 Seymour street. wW. Kubardt, two-story brick dwelling, 26x welling, 216, at SIS Aberdeen street, te SATURDAX’S TRANSFERS, The following instraments were fled for rec- ord Saturaay, Aug. 18: city rRorgrrr. Fallerton av, se cor of Perry-st, nf, 25x 120 ft, dated Aug. 17... Stanton’av, 350 f'n of Thi es w t, 77x350 ft, dated Au: “ 700 Blue Island ay,48{ts wot ftoveysijeoh -48x100 ft, dated Oct. 7, 1870 3,e00 North Oaktey st,320 ft n of North av, 25x1943; ft, dated Ang. 18... ..... 2,000 Central Park av, 481 ft sof Ogden ay, 50x125 ft, dated Aug.8..... 2,200 Tonore st, 1027-10 fts of Madison st, 6 £, 242195 ft, with buildmg, dated Aue. 22 (William's. Munson to William Sel- Hickory st, 200 ftw of Decringet. of, Rove S5x120 fC. dated Aug. 18......0...1..0. 600 Indiuna st. "240 ft, ¢ of North Dearborn av. nf, 40x10 ft, dated Aus. 18....... 4,500 Ashland ay, bet Van Buren and Congress ats, Of, QUKIIAN ft. with bniloing, gated Aug. 27° (Oscar Bardick to Sarah Wentworth ay, 4038-10 itn of POM seventh et Wa, ft, dated May Third av. Iii He Wot Fourtcenta att “°° wf, 20x100 ft, dated Ang, 18... 2,400 Centre ay, 25 {t's of Her bas 103th, dated Auge I. 509 Soutit or crry Lratizs, WiriN A RADIUS OF EVEN LES OF THR COURT-N Drexel boulevard, 278 ft s of Brook at, f, 22x180 ft, dated Ans. a Drexel bontevard, £00 t's of bisske f, 50x180 ft, dated Ang. 1 5,000 ‘Madison avenne, 170 tt n of Fifty~ ef, 24x1063¢ ft, dated Aug. 1: 500 SUMMARY FOR THE WEEE. The following is the total amount of city and suburban transfers within a radius of seren miles of the Court-House filed for recora daring the week ending Saturday, Aug. 18: City sales, 67; consideration, $199,8°6. North of city limits: Sales, 2; consideration, $1,250. Sonth of cit mits: Sales, 13; consideration, $71,095. Totai sales, 22; total consideration, $22,171. z —— Seetng Is Believing. It ladies who do not use the fragrant Sozodont. willcompare teeth with thoeo who do, they will zee in an instant more reasons for adopting it than can be composed into a newapaper paragraph. plein alld BUSINESS: NOTICES. Catarrh—As n rational treatment for that eatarrhal condition of the throat and facial cavi- ties, $0 utterly incurable by tne common modes of practice, it is with pleasure Tindorse the system employed by Doctor Pratt, of 202 State street; and fora perfect cure effected in my own cnse I earn- estiy hope for his consinued success. J. S, Hamil- ton, jeweler, 99 State street, corner Washington. — Ladies, do you know that by sending your sddress to, Dr. Simms, 73 Sonth Clark street, that wi ahd extract your corn without pain? Oftiee hours 12 to 3. coi ——_—<—_- Keep’s Custom Shirts Made to Measure.—~ Very best, 6 for $0; no obligation to keep any of Reep's shirts untess perfectly satisfactory. “173 dison-st- ———— ¥or Catarrh and Hay Fever use Jeffers’ un- equaled **French Catarrh Core.” ‘Trial and sam- ples free to all. Oflice 70 State-st. Perley Jeffers, ———_—__—_ VEGETINE. VEGETINE Strikes at the root of disease by purifying the blood, restoring the liver and Kidneys'to a eniihe action, invigorating the nervoua system. VEGETINE Isnot 8 vile, nagseous compound which simply parges the bowels, but a safe, pleasant remedy, which is sure to purify the blood, and thereby re- atore the health. VEGETINE Is now prescribed in cases of Scrofula and other diseases of the blood, by many of the best physi- clans, owing to its great succcsa in curing all dis- cases of this nature. VEGETINE - Does not deceive invalids into false hopes by purg- ing and creating a fictitions appetite, but assists nature in clearing and purifying the whole system, leading the patient gradually to perfect health. VEGETINE Was looked upon as an exneriment for some time by some of our best physicians, bat those most in- credulons in regard to its merit are now its most ardent friends and supporters. VEGETINE, Tustead of being a puffed-up medicine, has worked its way up to Its present astonishing euccess by ac- tual merit-in curing all diseuses of the blood, of whatever nature. Saya a Boston physician, ‘Has noequal as a blood pariGer. Hearing of its many wonderful cures, after all other remedies had failed, I visited the laboratory, and convinced if of its genuine merit. 1 is prepared from bai roots, and herbs, each of which is hignly effective; and they arecom- pounded in such 2 manner as to ‘produce astonish- Ing results.” VEGETINE Is acknowledged and recommended by physicians and spothecarics to be the best purifier and cleans— er of the blood yetdiscovered. and thousands speak in its praise who have been restored to health. PROOF. WHAT IS NEEDED. Bostox, Feb. 18, 1871.—H. #. Stecens, Esg.— Dear Sin: About one year elnce { found myself in a fecble condition from general debility. Vegetine was strongly recommended to me by a friend who had been much denetited by its use. I procured the articlo, and, after using several bottles, was re- stored to health, and discontinued its use. I feel quite confident tha: there is no medicine superior to it for those complaints for which it is especially prepared, and would cheetfally recommend it to those who feel that they need something to restore them to perfect health.” Respectfaily yours, U. L. Perrenct.e, Firm of S. M. Pettengili & Co. No. 10 State-et., Bos I HAVE FOUND THE RIGHT WEDICINE. Bostox, Mase.—Mr. H. 2. Stecens—Drar Sin: ‘My only object in giving you this testimonial is to spread valuavle information. Having been badly affected with Salt Rheum, and the whole surface of my skin being covered with pimples and erap- tions, many of which caused me preat pain and an- noyance. and knowing it to be a blood disease, I took many of the advertised blood preparations, among which was any quantity of Sarsaparills, without obtaining any benefit until I commenced taking the Vegetine; and before I had completed the first bottle L enw that I had got the right medi- cine. Consequently I followed on with it until I had taken seven bottles, when I was pronounced # well man; and my skin is smooth, and entirely fece from pimplesand eruptions. Thave neveren- foyed so good health béfore, and I attribute it all to the use of Veretine. To benefit those af- fiicted with rheamatism, I will make mention also of the Yegetine'’s wonderful power of curing me of this acute complaint, of which I have suffered 80 intensely. C. H. TUCKER, Pass. Ag't Mich. C. R. R., No. 69 Washington-st,, Boston. VEGETINE Prepared by H.R. STEVENS, Boston, Mass. Vegetine is Sold by All Druggists. ADVERT ADVERTISERS - Desiring to reach country readers can do so in the ‘best and cheapest manner by usiog KeloggsLisis . Separately or combined, or by State Sections. For ‘apie 3 N. BELLO yw estimates spply to AS GG. ie Fr abd 70 Sackson-at., Chicago, i. JIISCELLANEOUsS. Fencing Academy, Exchange Building, Room 70. French language Private lessons SPOTLESS LINEN. OLSON LAUNDRY, 32 and 34 North State-st. Reduced Prices 10c; Underchothes Sc. Family washing at very low rates. VEGETINE, a DRY Goons, Sweeping Reductions! For the next ten days we will close out the balance of our Spring and Summer Stock of Dry Goods ! at a tremendous sacrifice. t 1,000 Pleces of Percales and Cambrics, best qual- ¥ ity, yon wide, to be closed out at 6,7, 8c, marked down from 12} and 150. ; - BOO Ss Pieces Black Mohair A) out at 15, 20, 25, 30, ‘and oe Sebsiclones 850 ing Dress Goods to be cl 13,10, 12%, 18 and Ade, wont 50 “a Bales eras Sheeting to be closed out a 4,5, 8 and 7c} Lonsdale Muslin, 9c. Great Reductions in Black Cash Black Silks. “Ladies how i the Hane to tant PARASOLS! $1.50 Parasols Reduced to 75c. $2.00 Parasols Reduced to $1.00. $3.00 Parasols Reduced to $1.50. , 4-00 Parasols Reduced to $2.00. $5.00 Parasols Reduced to $2.50. $6.00 Parasols Reduced to $3.00. P. S.—Ladies anxious to securo. wonderful bargains in all kinds of Dry Goods should avail them~ Z selves of this opportunity. 4 New York Store 264 & 286 West Madison-st ENTS. PROGRAMME OF EXCURSIONS On the steamer SOHN SHERMAN, for one week (weather peraltting): ‘ AE. 1 Chicago af ida. On hs Lake: a 30D. mM. oe On the Lake atZ:30 ad 790 p. mm. ‘tuesday, Aug. 21, Racine at 8:30 a, m: Feetarn at 10 p.m. calling at Kenosha both ways. incaday, Ta St Jocarsiso, évarasg to pm. + On the Lake ati35p. Aa. Mulwankee af 8a. ti, Return at 12 p.m, calling at Evanston, Saturday, Aug. 25, On the Lake at 2/50 and 7:30 p. m. Fare to cine, Kenosha, Milwaukee, and St. Joa $i round trip. Ail others 50 cents round trip. COTTON'S OPERA-HOUSE. Monroe-st., near State. 4 Grand Opening Night, Monday, Ang. 20- HAMMOTH COMBINATION, 20 Star Artists, 20 Star Artists, 20 Star Artists, 20 Star Artists, ; Ina splendid Ollo, concluding with Mr. J. Z LITH% i ‘TLE'S Nautical Drama, i F Pioces of § outat 5, 6, double. ROVING JACK x Supported Rasy TA GRATIAM and # fall Dr— mariver te Company. MATINEE, © WEDNESDAY. SATURDAY, Special Performance every Sunday Evening. HOOLEY’S THEATRE, i MONDAY, Ang. 20, every evening, and Wedner~ : day and Saturday Matinees. Unequaled 2 James O'Nelll, Mr. John Paw iselie, Mr. Loais James, Mr, M. We Attraction Ledingwell, Mr. C. Collins, Mr. W. bl a Quigley. Mr. Edgar gar Moore, Mise Biloa Meron, snd Stes, "Tannenilt. fet appentance of Miss Jenni One Week Hight, ir. Chae a. Morton Mie t More of [Ra=*Pesres, Me, C. i. Wells airs Wintwortn, and others, in the pow= . erjal romgntic drama entitled ? Altered and adapted from the French by John Pam ” Grandet, selle, Esq. 2 ADELPHI THEATRE. J. H. WAVERLY Proptictor and Manager. Last Night! Inst ‘Time!2? ‘This ¢§ J. H. MACK'S Gi 'B. WOO' Last Sho orn S'S Ston cou Chaitenwe Congress a Li | ‘of Equeated Broncho Horses. Drove of acting Hi ‘Tournament of Gymnasts, Lads ‘Acrohats, Trick M el rss, files, Pertormisg Dom focky Moun tain Goats. Priced only about one-half what they are ac ADy other first-class theatre in this cfty. and "Ail ~ Eaatey’ Siguts™ “yhe rule. Matinees Wedneaday ane tonday—Mr. St{ddart, Misa Loutse Sylvester, and su- perfor Dramatic Pompaay tn ‘The Long Strike." McVICKER’S THEATRE. , LAST WEEE of one of the best Plays ever pro- ij laced in Chicazo. a “SERAPHINE.” : Fxcellently| Acted—Besntifally Monnted. "1 Is the title of our next BAB Production—for those HESPERIA LODGE ’ Who love fua. Excursion to Geneva Lake and: Picniz at Kayes’ Park, THUKSDAY, AUG. 23, 1877. An unusual odcaston for pleasure and recreation. Dancing. Boating. Planing, Croquet, Wall, Bollards, ren-Pina, 4 ee Tickets, $2: tojpe had of members of the Lodze and. Jansen, NcClu 5 ‘Train leaves . & N, W. Depot, Kinzie and Canst- ma steam pi jomt ‘returning, leaves Geneva Lake ay LINCOLN PAVILION, # Corner North Clark and Grant-sts. - PRUAHIA HAANERCHOR, © summer Night Festival Masie by the G. W. Light Guard Band. S0cts. Memb¢re free. “Doors open at 8 p.m. GRAND LAKE, EXCURSION fide enc! ‘25e cach. Musif on board. £ ‘€B- No tmprnper characters allowed. i "| STARCH. : : Pannen nner ip iebrestarree beater ee . CHICAGO 2 SNOW-WHITE GLOSS . AWD IMPROVED CORN STARCH. (The Eighth Wonder of the World.) ‘ests no more than the common anticles called Gloss and Corn Starch, which are made by rotting the grain|and restoring tie putrid stuff with jpotash and lime. ; For sale by the Trads generally. - ae 3 "|. SmETs. iS CUSTOM SHIRTS, ‘Made to mi 1. The very dest. 6 for €9. Ko obll- ‘shirts orde ia to take any ered uinlens perfectly tite Pie