Chicago Daily Tribune Newspaper, January 1, 1878, Page 1

VOLUME XXXIL CIIICAGO, TUESDAY. JANUARY ). 1878—TWELVE PAGES, U2 I FIHIK_CIIAN'I“ A‘l‘All_.Ol_lI Us et THE YEAR 1877. MINERAL WATEIS, 2 recently discoversd that they mome time ago | thus far, eince the new rule went Into effeet, The character of the trading on 'Chance has been the subject of marked varfation during the pasc twelve months. ‘The number of direct or- ders to “buy and ship,” the carrying out of which conatitutes the bulk of what some people chovse to regard as the “le- githnate purchasiog business, continues large. Some of our grain factors report an unusually aciivo trade on forelgn account, while the pro- vislon o:der department has ruled dull. Tn the first. halt of the year out- slde orders to buy and sell futures, on account of partles who were supposed ot to want to actualiy move the property, were numerous: but this branch of the trade has materially fallen oft since the summer. Wheat and provistons espeially have felt tuts decadence of fnterest; In spiic of the fact that, In order to retatn old bustness, and in the hope of attracting new, many members ot the Hoard of Teade have cut dowu thelr commls- sion charzes Lo sury low ficures. The competl- tion for custom has really hecome so tntense that some hase appointed agents st prominent voints ta solicit urders, whitle & few are with. drawing from a business in which the risk ju- volved fn guarantecing trades Is disproportion- ately large aa compared with the possible protit. The risk has becu ennanced by the war excite- muent of the past summer, and atill further in- creased by the prevalence of an impreseion out- alde to the clfect that contracts fur future de- livery in this market are not really oinding in law, This fmpression bas receutly been dealt with squarcly and falrly by the Supreme Court of this State, and the position shown to be un- tenable. Jt ought tole generally understooa Ly sll ‘those futcrested that the rules of the Doard of ‘Trade do not provide for “*settiements, por for the payment of "' differences,” exuent where de- {ault I8 made upou a contract and the party ag. ericved clalms damages therefor. Thy delivery of the property named in the contract is reuder ed lmperutive uuder the rules. Of course, If the two partles to un agreement choose to make & second agreement which cancels the first, and Involves the transler ot adiffercnce only, tho Board doca uot fnterfere. Otberwise, the party who fails to deliver the property, in busincss hiours, within the time specitied, or the one who reveral Interior points, where manv psople by | towards the Gulf of Mexiéo. Tho apening « e e e Mo onmmnmnins | s e oo AR s e 2 repudinted the competition of silver with | Mut aimoly hecauee all through the autumn ::r}:':lel:whhumu who uscd to send thelr orders | the Minsissinol to degp-amh}qv_m‘fl; u‘n i_l_ H N A R I s 20 P ER B ENT ol n dotornitiug the specis valua of a | Uher was such & good demand for grain that it | “U3! ik not deseabe that wo shatd re :fi?’n‘a‘%‘fi:l’:fimmafv‘oflm:a{: o paper currency, puyers, like little Oliver, cried out for more.” | perlenced heve insome. aresinne yearm “Thers | L204inZ o the transportation of large quantisi > L i erienced h 01 3 o " Wo liavo hiandled about the ssme quantity : ! perienced here Inome previos yearn, Dpere | of Western corn through the Gulf to Europe. Trade, Commerce, and Manu- OFF factures of Chicago for the Past Year, cun be no doubt that it has heen {ndulzed in to No change has beecn mado iu our atoraee i & demoralizing extent, when not a few members | pacity, We have nineteen grain-glevators, wit of the Board stand ready to M)l ardera, and | a total capacity of 15,720,000 bu, Which is rathe guaraiet the trvles Jor & commisaion of 50c | more thau bas been wanted during the greate per 1,000 bu of grain, and that withoutrequiring & | part of the ye: During the summer some of twaruii 10 be deposited 49 seurity againat 103s. | this room lay {die, but all the bouses are expect. Nelther can tnere be any doubt thiat apeculntive | ed to be occispied this winter. The demand fo dealingg 10 produce, apart from the actual moving | the eraln was ood enough, after April, to kee of the provesty, s swoxd thing. 1tsctass &y down stocks, and comparatively Jittle of th balance-whees Lo reguinte the otnmerce whic! rafn pald second storage. About 330 paics « wauld otherwlse procecd largcis by fits and | banda wero employed in there elcvators durit starts. Jts legitimate function is to atmorn and | the summer, and this force will probabiy be t slore up surplus encrgy in times of unusual | creased to 450 betore spring, excluaive of tI pressure, 1o ti: piven out when the machine | inspectors and the men emplored to move - would otlierwise drag for lack of power, It In- | cars on track. In addition to the above, w sures the existene of o market for is property | have Immenso storehouses for flour, provision whenever the owner wauta to scllit, and enables | saie, wool, hides, seeds, etc., bealdes's great d Luyers to lill orders at thmes when there would [ of *“private storage. The latter is really’ othierwise be 1o offers to sell. It attracts caple | excess, as storage-roum {s now offered In not tal hitherto Sud ranunerative cmployment, and | few Lusiness blocks which befora the pauie wet offers inducements to produce to cume hers In | occupled entirely by business firms a8 offic volume sufictent to altract {n turn the world's | warerooms, ctc. husers to purchase lle the handitng of the The conduct of the graln warchousing busi« niteriul provides remugerative em!:luymeut for | ness during the past vear has been unexcepe uvust ormy of workers, lo additiou to the | tionable, Aa alreadynoted, the charges have! notits of the merchaot. been teduced, and we have had no cumptaints - It doen not appear trobable thal there can be | about hot grain, or unfair handling, cxcept that - a permanent dulinexs ju_speculutive trading in | on one line the new corn bas been’ forced into this uity, thoush the phases of activity may | store whether the owners wished it or not. change 10 suit altering condittons, Chicago out | The cunduct uf the grain inapectlon has not ouly retains her poeition as the tatucal lucus of | been all that could be desired b e tast half of the Northweat, but ber merchants 8rc as wite- | tho year, but not much difficulty has been ex- 4 awuke as ever, aud her scquired facllities keep | perfenced, as the new geain is generally of good vave with the fncrease di the dewawt. Are | guality, One potut should not bo overlooked. - Juster meenminodations aud cheaper storage ro- | We have now & member of the Board of Halle quiredt We furnish them. Our Juspectlon | road and Warchouse Commissioners reafdent in * systemn I8 80 ek supertor 20 thuse obtalulug | this city, snd complamts aboot th conduct of clsewhiere that pricduce hns often bec sent bere | Tuspectors could b made sud acted upon with for the sole purpose of taking wdvantage of It | hittie fuss of tline. For this very reasun thers There Is 80 much capltal here that Lhe property | has been less of individual arbitrariness than in can be carried aud dnsured at roey luw ruies, | some former years. The inspection atil rests whilc thie fuce that by the luw of thls Btatere: | with the btate, sud the system Is vpen tn the cejpta tor kruly, purk, ete., are valid deliveries, | objection that party considerations may govern’ snd pegotfable as secutl chubles owners 10 | in the matter of appulutments, No fault tst-—* obtaln udvances upon them of much more | found with the seglstration of graln re- favurable teruis than elsewherc. New York | celpts, There has been somo talk about speculators are obliged to deal fu the yariuble | the advisability of fostituting s stmllar “hoat load,” and actuslly dellver the *stufl, § chieck upon recelpts for provislons; and where we handle round Juts uud transfer the | some action would probably have been taken era ownerslilp by pussiug & plece of puper from | this but for the falliug off In the volume of haud to bund, Her produce tradels au un- | speculative tradiog in pork and lard, As more et as compared with ours, and must | contibuous production will tend to reduce the 80 until a complete revolution hus been | stoeks of pork product sctually cerrled tor fue effected fn her warchiouse system and Lier Biute | ture duun‘z, ?r. may be found that the trade i can keep sutlafactory track of receipts without the neceasity of registration, to whicu there arg sysiem, Chicago coutrols the produce trade of | somnu stroug objectivns that do not apply ta the West. A lew years azo the merchants of | geatu. ¥ l\l}e S«*flll‘l‘lnd“ ol t}—;umw n-n: dtlhm{ ?NJS to New York. Now they are scnl rect to ene 3. N | 2o, and fiiled by consisnuents on throuich bills n.{:ffi‘:liwfls'vm ol lnding, without the aid of dealers ou the sca- N 0D of produce during the past year as in 1876, have wold 8 to 10 per cent more goods at wholerale, and mannfactared at lenst i per cont more in volume, Yet onr stalistics show a falliog off to Lthe extent of about 10§ per cent in the Brat, 1) percant in the sccoud, nad nenely 6 per cent in the laat, That is an avernge of 4.7 per cent decline on the prand total, as meantired fu currency, But the paper dollar has appreciated in buying valug abont 6 per cent, a8 compared with gold; so that we have an nctual increase without entinting the enhanced power of the gold dollar fn purchasing in tho markets of tho world. This is cerlainly s showing not to be ashamed of, or to bo repined at, when wa consider that in the cities of the old con. tineuts, m well an the naw7 11418 have been harder than at eny previoas Jate mince the lnst panic. No otber city in the United States, oxcept Milwaukee, han 2o well held its own, though' the *'country,” per e, has prospered in snch a fashion as to argne tlat the greal centres of Lrade and commerce are rapidly nearing & more prosperous epoch. With bountsous erops -in hand, and an un- mistakablo revival of manufactarivg indus- tries in progress, there should scem to bs no ar toroturning prosperity, in which Chicago will take a full share, The great falling off daring the past year bos been in hogs sud iron. The bog bas paid us tribule fn nearly as great numbers as ever bofore in the history of the city, but he has followed the example of Abel Mag- witeh, who war dreadfully *low” while wishing to avoid it. Tho diffsrence of price in the hog elone accounts for not far from twonty-five milltun dollars of oor nominal deficiency, and the remaindar is more than accounted for by refcrenco tothe paragraphs whicls tell of the movementof irou, and the progress of iron manufactures. In nearly everything clsa the record of 1877 is at least nearly equal to that of 1876, and in most NATURAL NINERAL WATER, The Queen of Table Waters, HIGHLY EFFERVESCENT. DR.LEWIS A, SAYRE. A delightlul beverage, LWILLIAM A. BIAMMOND, **Farsuperior B I‘fl‘\"d:f?l.' Eeltzer, of any otler.” 3 PRALFIED L. LOGMIS. *Most graieful sad retreshing.” e 3R 18, *Atsotately pure R O oot for il orty Hrea from all the objeciions urged against Crotun sod artinelslly aerated waters." PROF, WANKLYN, Londan, Eng. **Impreg- haiedonty witl fta owis ga. VI T, R PRASLEE. **Useful snd very sgreea- ble. N_FLINT. *feslibfut, and well L ?..f‘.‘.,'r“n,';m%«?'.n s of Acuts Dis Canc. DR, FORDYCE BARKER, SRy far the most 3 g “with wine, werl i Etarrtia ot Niomaeh oF Dladder, ans in Gout, DR.J. MA{IIUN HIMN, **Notouly slusury but anccessity.” On all garments ordered from -this date to Feb. 10, if paid within five days. We guaran- z tee that every garment will be | A Moderately Prosperous fully up to our standard in Period, Amid Wide- IQ,S'(:)&ALITY. STYLE, and FIN- spread Depres- LINDSAYBROS. ey i o and the Mud-Block- T AILORS, ade on General Business. 141 & 143 DEARBORN-ST, - NEW PUBLICATIONN, Hogs and Iron Getting Down to e~ S - H o Piigtee-. 0 o New Law Books. e e —_ of Wheat und BIGELOW ON F RAUD, Corn. THE LAW OF FRAUD |4~ Shrinkage of One and a Half Per Cent in ~=AND THE— the Wholesal PROCEDURE ® Trade Pertalning to the Redress Thercof, BY MELVILLE M. BIGRLOW. svo. Sheep. $8.00. Which Is Due to an Increas= ed Purchasing Power STEPHENS'S DIGEST of the Paper erchints. Grocers, Drng: 100, S o ey Deaters hrouanaun the Unried Bltea Sad wiioteanie of FREDK DE BARY & CO., 41 & 43 WARRRN-ST., NEW YORIK. GENERAL NOTICE PARIS EXPOSITION, 1878. APPLICATIONS FOR SRACE AT THE INTERNATIONAL INDUSTRIAL EXPOSITION, 'T0 BE HELD TN PARIS, IN TE YEAR 1878, Muy be addressed to thoundersigned, ap to Jan, 10, At Room No. 24, Post Office Build- ing, New York City. w. By virtue of her commanding position and board. The fact that large quantities of wrain | has been very frregular, but less actiy . y doea not recelveand pay for it when 1t 18 50 | and ofl ol und thisity b rate, the speculative bramch e *° Asslicsatewil atpasspoifealy o po. A5 : Bollae dopartuuns thers o n el gan, s meas- | e s et Gciline b e Bourd | e sl o ot Mot 01 | STt e st bl €L siblo tho number of aquare foot required, LA‘W OP E'VIDENOE ured in currenoy, ’ of which he s a member. The Board does not | Lo aan proof that Chivago {s gradually 1osfog | oy, grat thres months the busiuess was fal whethor of floor or wall space, and the char~ v s Amld such o great shrinkaga s has ocenr. | 8ak bim whether or ot the party for whom he | ber comiauding "‘{.“r'.‘.'v‘i“di'e Ibe produce trude: | 2od moderately remunerative, prices being com “,'{.',’,f_";.’,’:,'&";‘, stands for oating or drink~ Thlrd English Editlou, A Sllght Qain in the Volume of Pork- | red in resl estato ana banking capital, it {s | 18 trading fafled to sustsln the commission- | o "th\such of the stusf which passes around | paratively steady, though teuding stowly down- {ng, will not be allowed within the space ale | Revired, correctad, and enlarzed by the author. BII - Paokingetmmense Growth matter for thaukfuluess that wo hisva doe | Terctisnt. Le ourd deain only witl ts erring | us, or gues through bhla city withiout. sppureit- | wards, with & guod demand for consumption. Tolted to the United Statos. FITZ JAMES, With adilttonal Wlustrations trom BoIng 50 well during tho past year. Tho focts | Dyipcrsand Ne must outupor ebut ' | I paring lol tnbute s shipped Thewar excitement fo Aprii made_the tradiog RICHARD C. McOORMIOK, American cases, by JOUN WILDER MAY. f the Canned-Beef that Chi nly toialns, bat da | TEEINEF e bias been tradiog forhimsellor for | sCht 1o this city, Chicako o3 S US| active, and advaoced prices to $17.00 b pork, . [V e Uanned-bee. prove tha cago pot only relains, but s | 5 third party who may not bs amenable to dis- | P the country, and coutrols its subscquent United Btatos Commliasioner Goneral. 1m0, Sheep. $3.00. -] continuously improving, herposition as the | cizline by the Board movement, 1f wanted here, it s brought here. | $10.40vn lard, snd Blgc on lJoose short ribs. FANT LANDS, Department. business contro of the Great “West,~the | The ur{rll:ge buslness Is an espectal nuissnce, {’ ;.‘m - “l‘:‘l..:rlh“cr '!'-;dl%u ?S“'";g” m“oh' o D&l,nl' uwkm"“;f" d'?::; » l: rmnmanannaz: A At SRR = = n Europe, orwar 3y ther route whicl o $12. 8,025 on SRR ¥ focus to which tond all the rays of commen- | & |t Laa led 10 the misappreheosion aborc | 1 thx Moet Fivkntyzous Jor tho thie Delb, | aror sy otn Tommteioe & Great lor ta, | A. FARM AND HOME LITTLE,BRO‘VN&CO-, Our Manufactures Foot Up | ¢ sctivity that light up the ploddiog in- noted. Very many persous outalde the Board | 10 eithier casc the usluesy s transacted i Cll- : q cago, The merchant in the building on the cornee | holders. From this data speculstors: fought of Washington snd LaSalfe strects Is in huurly | shy of investing, and the tendency was to sell communivation aud coutact with the represeuts- | for future. The market was very largely short tive of the country buyer, aud the agents of e leading Haes of transportation. Busrounds | o0 bork fn October, aud then the reaction came, < e close of thst" ed by anetwork of telegruph wires (he will | Pork advancing to $15.35 at t ; soon Jearn to use the :el:f?xmue) be meLn has | month, though most ot the shorts wers flled PUBLISUERS. * 254 Washington-st., Boston. $204,000,000 of An- THE GALAXY | = rroes regani the * privtlege ” 88 synonymous wif what used to be called the * optlon,” and the error s perhaps fostered by the clreuitous word- ing of the State law, which malkes tho former lilegal, The distiuction s, hawever, a wideone. dustries of the Western World, OF ¥TOUR OWIN. Now is the Time to Seoure it, PRODUCE. ‘The produce trado of the past year has been » In the case of the seller's privilege (the “put v, | 114 Gneers the key to i d sde : . i y 10 the commerce of the | ju the neighvorhood of $14.00, and meats ONLY FIVE DOLLARS HERURLLITT PR . | The Total Trade of the Oity | firlr setlve aneln most deptimentes aod o 8 man poys suollcr for the permision to | worid, Ho can buy large quasiiticn withous e | vanced fu sympotbr, shors rib ecling st b choose, w! el ime, whether he wil e urbing o el ), Bl “rom s acwm | ATLANTIC MONTHLY. | ™ Mossurcd by S0me | s o e | e i it e, it kgl S L el | e "t B B of the Deat Land 10 America. 200,000 crease in valucs, Measured by volume the trado s less than that of 1870 In the azgre- gate, which is nearly gempensated by an fn- crease in prices,—chicfly wheat and flour,~that fact belng partially traceabie to eseitement with regard to the war in the Orlent, | We have lost in the number of hogs 'handled, “and fallen behind very much In the cash procreds, be- I Dries, and perfect arrabgements fn w few mo- { ull, with generally emall daily varlatfons fo | melm'; for u?rmllnz vant volumes of materdal, by | prices, but 8 gooa deruand bas been expericuced the cheapest route, to auy part of the civilized | from consumers, which has kept down stocksta - * world. alow polnt. Yet the duposition of the trade Apart from the command of tmmense capltal | pyg peen dectdeuly beartah thus far this winters ind the abllity to furnish just what 1s wanted, oth as to quzm'uy.ml m'!nmy, Chicago L a | 308 the market closes ": abaut the “z"‘“—__ jre-cminent advantage as un oxporting point. | prices of the year, There has rln'ut been so fauch T e eianed o oLl the promerty uee, 1t cat | Snxiety to trade as a year ago, but sellers have The Tubllc are hereby lnformed that Tuz OaLaxy hes 6500,000. been sed by the ralgted, publishers ot Tix ATLA: MON LY, Laving been comblued with H::;\‘H-AHTN will no longer appear eparsio mag THX ATLANTIC, of which tho February number will betha firer'uf the combined 1AResin or the Showing aLossof Four and Seven- allsubser'hirs to TIE GALAXY { SubscriLers ta 111 X ienths Per Cent in Cur- signed. rency from | . neplect 1o do so. Inthe cascof the seller's “ option,” the contracs only gives to thescller the right to choose some instant, withifa speciiied time, when he will deliver the property, aud take his pay theretor. If he do not so de- liver 1t within thatetime he defuults on his cons tract: while the buyer of the ** put * does not violate a contract by electing not to make the IN EASTERN NEBRASKA, On theitne of the UNION PAOIFIC RAILROAD, NOW FOIt BALE. Ten Year Credit Olven. Intereat Oniy6 Der Ceat, Ticee are the only lanila for ssle on he lne of 1tite teat Lallroad, 1he World’ way, send “for THE NEW VAL tha beat paper be done more cheaply aud cowmodiuusly than | bech ih the majority,” becsuse it was considered far thuse seo! 8 . o e uso of the rslatent way fn which . ere. ¢ | prubable that buyers were taking Lold much R e pibuehed: $ANA | T4 0, SOUGHTON AND COMPANY. Bton; Bt baye heot marchin doen (owaria T | 4o oo pghee el pmaio b i | DROpeFgs . ens e can ake supiracs | e rapdy s e st was belng co 9 il v N n s o " oy o i re wi 0 o cessalion 0. F. D\AVIS.' i JIURD AND HODGNTON. New York.___ | But Is & Gain of Fully One | pw. The course of trading has been | 1y recoguise this very obvious and important ;2;:;,‘;‘g{,{‘;:,{,‘::;“;?‘;;:"E‘,'.‘{‘lfl“; fif..,p,::&{"i‘.’.! eaau lon before the winter supply of hoge L CINEM CIANGES, Per Cent if Reckoned somewhat Jess steady, as the wr unsettled | gjginction between ths two. Tund routes b the winter, with the additional | 18 eximusted, The severe losses Lt have becu e e on & Gold Basis dlusiatioos, Snougl “::l’. l;’“‘”“”""“““""l"“’: Stepa have recently been taken by the Board | cwuye ! eiire Water transvortstion In sum- | experienced by carrying winter stu into the & s e % . 518, huve been expected, wi e exception of whenf " mer. With New York, Hostun, Purt- | summer make buyers for tuture enreleas about Jand, Montreal, Pbiladelphla, and Holtimore | taking hold, except at much hfl"r orices than competing tor ‘the honor and profit of traus. | have ruled in recent years. ilence, provision shipment there 1s almost always sume special | guotations bave reaclicd a low potut, the 'Ilo'n- advantage to be gafned which tv denfed to thuse | ward muvement belng hefped uykumfivhe mlog who bavo only Holuon's chlce of ruute. We | receipta o Boge the secunis weele lu December: 2 may add that the Britlsh fmporter is now sutls- X s . ficu’ that he can depend upu':’ quality, welicht, The following tubla shows the monthly range i and time, leaning nothing to Le desired in the | 80d ths average price of cash l“und seller-the- mode of transacting his business with the | tuulth wiess pork, throughout the year: " agent iu Chivago. Buvers in the Eastern States Lowest, MHighest. “"'“X" have enual pusrantees of guantity and quality, 216,50 18.10 17,14 ‘which are Jacking when they ovcusionally sen: +14.05 16.46 their orders direct to the country polnt. 50 The sates of luke freichts were so low during 1836 that u reaction wus deemed to bo more than probable. ‘The expectation was scarcely Justified, but the market bas been s litle bet- ter, It opencd Foh. 10 at 4c on corn, ang de- elined to 13¢ on Juae 20, which was the lowest rate of the previous year, A al many ves- sals were chartered at’ 15c. o highest corn- rate of the svason was Siye, taken Ot &, azalust | g y, of Trude which ave broadened tte line of de- marcation between the two so much thatall can ace it plaloly. The Bosrd adoes not now fnfores the tultilment of contracts which uro bared on privileges. So long as the State re- gards there transactions as lilegul, the Bourd of ‘Trade cannot countensnce them in any form, ‘The word - “option ' may be very properly dis- continued as a designution for contracts which would be much better known as * futures, The buying and selling for future is realiy s necessary part of an active trade. The vesscl- owsnier charters hls vessel two or three days abeud of the time she arrives in port, and Is thus able to send her to take on a fresh cargu without loss of time. The grain-buyer fn the country takes in corn from the farmer by the wagou-losd, snd st the same time sclls it by his sgent bere to arrive (ray) next month, He Tho copartnerahip heretofore existing bo. tween Arthur Q. Dow (of tha firm of oot & Dow, 8t. Liouis, Mo.) and Patriak ftoran, of QuloagoTit,, ubdorthia ixm n‘l’:ms%l;ntiwé The history of the trado, commerce, and By Inutunl aonagnts AIr. . Aoran is auinor | monufnctures of Ohicngo during the prat ieed to ?nneln("nll :x}uu{mmz socounts ana twelve niouths hins beeu ono of nmich greater fl:{,&‘,‘,u‘::, mfl;fl&onx OR 10 utd 1rm a8 | 4o oraey than weual, as It waa doveloped RTHUR ¢. DOW, . - Jan. 1, 1878 BATIIOK MORAN, nmid mnore than ordinary uncertainty, Every. — thing conspired to kesp our men of business COPARTNIERSIIP, “on the nuxious sent"” long after Mr, Moody The undersigned, Patrick Moran, of the . Qiem of Bow, Moran & Co., Db Bouth had departed to other flelnlu‘a! Inbor, 1In the ¥ lnd&JEflna Km&x‘i‘. {iormur:y of | enrly part of the year the Presidontial ques. i . hav " . P D s ahdar tho s oy | tion loomed up grandly and (,h‘mmfly..lum lP. Morlgl & Co., lflr the u‘rpcuhul'%r-nuo';- ing at one tinie to be asecond Pandora's box, orai’_Oommifesion busino; O ane Suttar, Fiour.ang Goneral Broduog, | containing all the ills that tlesls fs heir to. at thalfillmrg‘ Nc:-huo ‘:u‘tlhbwfiur-ns..‘cm- Bearcely waa this disposed of whon the ., whe; - O Hheintrionas: personal vinte At wac | trump of war was souuded In Europe, and 3 by i respondonce, Bignol b ATRIOR MORAN, then commenced the contest between Russin uod flour. Still there bave beeu very few fall- ures In the trade, albeit the longs and theshorts were alternately pressed rather closely to the wall. The **corner™ in Its old fashioned scnse, hus been unknown; though npork snd corn ouce, aud wheat threo or four thiues, bave been {0 the power of the few as agatnst the many, Among the more noteworthy Incidents of the year, affectiug the general trade Ju produce, we may note the following: The partial falure of the California wheat crop, due to drought in the early months of the year; the war excitement durig thu early spring, which culminated in the declaration of war by Russla,—an act that was fullowed by s general upward movement in prices hers, and n series of terrible struge gles on Turkiah soll; the great -strike, which paralyzed industry In many parts of the United Btutes duriug the last week of FOR RENT. DESRABLE OFFICES IN THE TRIBUNE BUILDING TO REINT. Applyto WM. 0, DOW, Room 8 Tribune Building, S s the previous year. The closing price was your 1 ——— JUSTUS KILIAN, wthd Turkoy ; its intenso actunlities in tho Old | July, sd clogged the whacls of transportatton ;‘;‘fi.‘,'h'e‘f;';c:z;::t::,;m?:c';n‘:.‘:t‘;:flk‘:‘: - Loe followiug shoms the sxerace raies on | e Y L. TO BN | oessorge- 1,18, World, aud littlo moro thau imnienss possl. | by nil for soveral wecks aficrwards, busldes In | 4, jy lsorelievedfrom ticanziety which would 1 {rom Bullalo to New York, forseversisen. | —= T e NOTICE bilitios in the New, keeping tho great mass | YoIVing. the destruction of lurie quantitles Of | o)y cpieo arige from the fact that the rallrond . L et For the Whaolersle Trade, the fve-story stone-front 5 1 i pridlucs owned c.“u‘m; Fy cl‘luz. fo the company may ot furnists bl with the cars till Canal P 3 Store, ddxlzu fect Jocaied un the cornet of Kifthav, | Having permsnently loosted, snd doing | Of our peoplein o slato of continual suk. | il oe orin starage, whict luvited to a more el 43 The following table showa the monthly range, 19:33 1 and the average price, of steamed lurd, threugh 16,35 [ out the year: me to sult partl WILLTAgE e bumneuss in Bt, Louis, Mo. (irm of Ro ense. Aa the war cloud in the Orient lifted, salle and Monroe-sts. Dow, 607 North Beo D t ot d.st.), T h atrons of tho lnmnr?z':’or"’lgivffiuprz;h&“dg: enabling a8 to see tho rolntive sirength of o a week or two after hie givesthe order for them. rapla and extensive handling of breadetuffs in Tue furmer wants hls moucy, and so prefers to this city; a decision by the Bupreme Court of " i 1028 | youth. ZLowest, Higheat. Average. I g:?:g&, fl-ld ;’,’,‘d t‘:-‘nlrlulfgr‘m !l‘re 'c‘*“:gnflfi tlie combatants, the rain cloud forined iu the | this Btate atlirming the valldisy of contracts for ::'L:':en‘:‘::x"fim ‘",:Lu :::ur,:g :,; h;::‘;;:lf:;' g. }_ll J.nu.'.y., , 0. 55 11.55 m.lfi \ , cg“',‘fi”;;,;——.mml TR F Siw | . Soran & Co. ARTHUL O, DOW., ‘Weast, and for nearly thres months .ltmmml the future del'l;v.-r,vb o; Bmv:‘um.l n:zcll.of t':‘m when io cin sond §t Esst by water ata ch“m‘r - ;.x.r:.x f:u“ " Yok Fire lnnu:mc:’t.\l‘:fi;u‘:\'y‘m’ Youkerd' and"New DISSOLUTION. asie, to puflphrma frand DF: Youngls* Night .m:ilv’:nuu':?'"wll‘xla. vuumln::h"mo:n:dum: tata thanis eharged for trausoortation by rail, t to Buffalo averamed M;amma :‘l;nn 3.’: i pullce fa hcreby uiven puraisnt to sn arder of the | e copartnership hitherto existing between theng. | Thoughts,” suo WiniEly 4 and soho buys it “sclier May.” In this case AL to Balleo ave k thon N.oB HTEAT, e st o 0 Sl g of | qchpseRHETUNE rathet ot BRI, | ater R tnnato Motstres and osct atom, | Yolume of our reciple, o8 o mde 100 COULKEY | Ly mus earry 1t hrougn tho winter, :gi.":,:‘,',;';“:‘:"fl‘l“" AL e clore of the year ¥ B3 v bl conite o Ko OIIAF of thoe Indebiedness of | Sin 4 Produca busuess Wil hien e | Aneotting ita {ndisputable sisht ruads fmpassably; aud s marked falling off, 4 | oo yerg capital steps In, buyiug the coru for | v Tulo was takew at B 1o Juad | P Yuuiccreand New York Fira Insurauce Comrany | t1o% ¥loar, and Freddce busne e ¢ 1 To'ywest, bad fortued a untverss of mud, ho I tof tha year, in the volume of | ARd here 2D 3 wheat to Builulo was takeu at bc to Juad lnime- BTN el b payan W after thia 20 | S0l oy e o) tocuamig oy sala 0 Moaa arg au thy latter part Jean, oltinie 0 December or Janaury, aud sclliuz {¢ | distely, aud go out in the spring. B~ . L et ‘",,:,x':"v,':"‘:’::,}“'l"'..'l“e‘l:'tl'm'# trustiome sl Rt g '{’Ifi' 1 IIVING, puttiug our real estato holplosely under | pcro speculatlvo trading on 'Change. ‘d::':‘:,?,:w;_\h,_ All this |.£;.|,(c‘|“,,§m. The " »scason * of pavigutlon might have it iR e 5t T WL SUANR | water, and paralyzing the nerves which con. | The shortage of wheaton the Pasific Comst | 70 L Yoy act of gotng tochurch on Sunilay, | Dech estended anotter month, lad versel- 7.7 e R e, e e OTON, | hect the farm with tho railrosd, and through | was supplemented by a ield below 18 EYerage |y vt i forms the great bulk of tho tradiug | wiatiey o Novermber aud Decoraber, Thy | T Y0 s e MDD A QT 5 5 at chaunel keep up the vitality of , | fu the British Islcs, which, with a falluru of the -me: A N ot 4 3 - A - ‘TRE, ASURYDEP A.RTMENT Theirm of Underwaod & Co. I this dsy divsolved by that ¢l P up y of the city. 1Heh polato crop aad s sulpégslon of card shig. which some well-meanlog but {Il-informed peo- | atormy spell fn tho tirst balf of Novewber fn orur i il e 1315 lmitation. P. L. DNDenwoop, | | With all this there was a sido-current of agi- ple eall » gamblivg.” truo that outside of | duced owners of lake craft (o lay up thoso ot | Fae year 14H9. I ] PricE oF CONFIROLLER OF THE CURREXOY, Wasw. > ments from the seat of war fu the Valley of the hls thero often clusters & great deal of specula. | Airesdy i winter quarters; but after that the TAICES ON MEATH. el L iy ek it sttt ihe g Bessoca] iy o tation sbout money, whish rendered stilt | 1,00 be oy created a more smple market for :Av lr:d.lng ‘but much of that {s strictly legits. | Weother was unilorwly mild, almon to the | qpg following table shows the mopthly rane- S b Chic * v Bl more doubtful the answer to the groat ques. n E han ever before; i3 3 close of the year. oices OF caah ahors tibs, Yo: N o Hetrr e e e oy | Dec.3i, e GEONGE D. Cur “ best f " our breadstuls In Europe than ever hefors; | ;31y; g, where a shipper sends & eargo of grain | © Thia following table shows the changes in rafl | 804 a¥ers prices h ol ot whivl three manci (rom (1 dxce-for COPARTNIAR I tion, ** What {a best for me todot” There | 4o Continent belog a luo sbeorter of our | ("Xol "York for male, and, fearlug a freluiita un graln sud provisions to New Yori | WrOUgHt tha year: hey wil be disallowed, comil,.‘l?&.‘rfl\‘\"exc.\t'lx. 4 43 . was not enough force reflected from tho situ. | wheat in the latter months of the year, fu addi- decline, sells 20,000 bu bera for mext | duslug tho past year: MontA, Lo-;u;. fllqh:’:’l‘v are -» i UITRner: m‘;’:{':““"""""'“' coatloue \he Commiuion mnd | gjon in Europe to pormanently influence | sion to the requircments of tho Brittats Istea. | 1oy’ which ho expects to bo abio to buy Bored Bult 7 i e BRENOVALS, woud & Co. prices,—except, perbaps, in wheat and flour, | Corn has beeu cagerly taken, snd our osts have | 1 oy ywer figures, It Lo should Tose by a drop m:ngn. L nedts a3 fN‘ : Jen. 1, 1978 DL\, UNDEIWaoD, | —™hiloa marked appreciation in tho recog- ‘"“““;“,::"‘;;'“::"l’;‘fi‘“‘;.‘f‘x::‘q‘m‘l“;;“‘ 406 | fu prices while b broperty 1s 0n tho way to tho 4 B b 33 | e e T grount seaboard, Forthe rest, wo may sav that, if a Otlce Of Remflva,].. DISSOLUTION. :;"‘: '::‘::o:: g‘;:‘::“r::n;: '\'h‘: ::f:: l:,“:;l: new crop wives & body that permits the manu- Tnan ofera to sell for futare delivery, t fs nok o o Dr, BAMUEL DAVIESON I 8 Setweenthoun: | bough facturo of & *tmeal " that (s not all husks. ‘The | 40" pygineas of the buyer to ask whether he 55 5% ONGRE pallaie il bie duy dlrclved by | things that sre bought and sold with | genand for hog products has not been great | oy owns the property of uot, but oulyto 43 40 75 3 lgxszu ash-ay. bt Uhlindiagsdue the s orts **money." Inaurance companics went under, | enough to keep prives un to a high point, as of guarsntea the performanuce of the contract, ?3 4 g: e R e | V50 h6 R10D0 18 BULBOFIZCT .'A"n'(' “.;';'..'.""' (1) - | and banks collapsed, bocause of the deprec - | the contestants in the war one party dispenses Aul stinilarly the aeller has uo right to demand to know what the buyer iatends to do with the praperty—whetbertosellis to someoae clae here, to it ashort sale already made, or toship it towards the ultimate consumer. ‘The fulllog off in our tradiog for future is largelv traceallo to the fact that outside opera- ciemoLbumy mEETing, | e, OCIHOLDETR MEFTING, DS wli) be s mestingof - men felt the strain in diminished credite and o] 3 ) t Mages, Oleton & Adki ":‘ ‘dn.'y:o.?fi'. I::l‘ln)l..;:f m’m:zsfi mvl:{:&nflfi'fl‘x{-:&?fl?n:l:;fi;n': lessened profits, and a further sLrinkage in Guring tho. coaniie | baar Koom 8% 150 Wealiagion fh "w“‘ " | the wages paid to workers emphasized the ¢ vilier busluess as 13 Thy NS NG SN, reflection that hard times are like a stoune CHANLES BEN | ntcano, Dec. o1, to77.__ KLNES wfii"fixmmm ) PRl SR AR U AR Ll L ation in the selling price of * securities™ with hog meat and the other relistousiy despiscs which did not mdke them secure. Business- it; whilo both have found it pecessary to de- vote thelr surplus cash to the purchase of arms and ammunition, But our beef products bave risen rapldly luto favor, and pow enter very largely into British consump- 3 50 It does not now ar probable that lake. frolghits will ever again rule so high as before the panle. They pave been unltormiv low dur- ¥ Iug the past four yesrs, and the reduction of aversged about B: per talls un the Erte Cauals bave made possible very in February. . They sold down chieap water transportation for our kraln to the | ¢4 48¢u ju Merch, sud up 1o Bigc in April, de- - seaboard, which cannot be competed with by cuue’s 10 4%¢ the middfs of Jue, wers quoted N tiou—as shown by the exportations of canucd deal of rail duriug the seasvn of navigation. This gives | oo 8¢ nearly all through July, sold st 43{@ike N\ rit— rolling down stairs,—which always bumps | meats from this city, The elfocta the sloteon | e 100t & BTest e O Oy B s, | us duriue the syuimner cowinasd of the gruat | during tho grester paft Aulgust, aud advanced & \ o WSOUTLERY, | T DIAfONDS, WATCHES, Etc, moat heavily on tho lowest atep. tho produce movement was (ar more than tew- | 1o (i CICh bly cliaoged hands, and | Lo dlied Almast ceirely from’ New York, and | 101 bo tilled almost entirely from’ New York, and wber, and {c In Docember, - ool o3 thduce the mcunlnch thows Btates ta f} | 1sbser part ot Nuvelubees sad * up duriog the warm weuther, except as theycan | The followlng were the rocelpts of provislons uat new corn 1o winter. The possibilities of the Ity during carsi Ereator, Lawrencorouts to Eutopaaretinmentely | 199 dressed bugs bu thiacity durlugiores years porary. 8o many rallroad cars were destroyed that the workiug capaclty of the roads was lesscued in ‘the fall, and great quantitics of gruln were held back, or sought a market clse- prewber, munmz to 43e inthe | L much of it remalned here. In tho trec part of = the year thero was su much uncertatuty lu quos luonn 3 opectaitys tatlons that many tmembers of tuo Board se- S alia bkates, Ploola, D " easured in paper dollars, in '_\,HT SRR NS | Timons, Walohes, JOWETY, STETADG, B, | 3676, Tue wouder Jn s tha dbe. has fondustiions. pomtmrie e e UL L) 1685 East Madison-st, done so well, when other cities have fallen Rod S NI B BT &AL = | Under such advorse circumstances, it is no odgers Pocket s ERY Katrer mwr:.‘ -:a BANKRU‘:T SALE wonder Ohicago has transacted less l;u-lnuu, this way was tho fsct toat whh the 18t of July the charges for first storage 1ns thls city were reduced to 13{c per bu for ten days, fnstesd of Sc for twenty days as formerly. Ten days belog suficlent for the transfur of sil graln not Ioteaded to be beld bere, there s 8 ssving of 3{c per bu under the new asTange- ment, while the advantsge of Chlcago asa and F : c 5 Glatscs Taleacopo Micro- | tions, The expansion of the measuring unit RO) al Vietoria I{Otel, Eo =L CTCR L N ————— may be lnlone?l from the fact that un‘-m- NABHAU,NN‘;,'II:. QUNINESS CARDS. sgo valuo of our paper dollar in 1876 was al- 7] Y TEEY most exactly 90 cents in gold, while it has iy & CB averaged about 93} cents for the year 1877 0 a « | sud 97 conts during the last six months, Bat Tials, Gold sad | i trlmmed, aad Plata a4 0 a o oteny i l‘ S P 2 s0d Oraamental Cakes, Paatry, otc., for the real difference is oven greater than might fusud to trade for others, unless on the doposly hi bing that bas yet becn actual- 1974, BiiSarai, ribuse MEE. where, simply becauss cars could not be fue- | opeytraoniioarily largo sums as security; snd x:i‘.ml-sly tho aupirues of 1579 the Imp:tl:w:r;::nu ‘{:‘::{: Efl: Anty ?;’:?g;' = nished to bring Jt to Chicazo. .| later the prices of futures havo been so tuch | now In progress on the Welland Canal will be | beats, ton 81,084 / FINANCIAL. We wiil bavs open New. Year's Day for the accommo- | 80 much farther behind. Amid all these | "But for thls our produce trade would bave | .. sied trom day o ay, by the curbuane tred- gomoletond, aud large carsocs cun bo sent to | Lary, tous S e 5 & e A A 3 N e o, | ' o D083 3 C'l OU\TY OItDERS e | paralyzing influences, we bave actually | been much lurger In the last half of the year, ing In privilegce, that the dally fluotustious ;}.\::‘“f)‘:.'y : n‘:‘ u‘l‘-‘:u‘l:u‘:"x: muu;;; .m:-lr;.‘ h:: 'Il,:‘ -‘::J hn'; et e % 0y . orTICIA bandled more produce, sold more goods, | as lake frelghts were keot down tosolowa | ) prico would often but slightly excoed the | water-way to Eurube tu inuch greater volume SBIPMENTS. . i J Ct v ll B nt BIANASSE, OFTICIAN, Tribuns Bulldlug, - | mauufactured moro of the thigge which con. | poiut that the cut-olt rallroads could 8ot 4uc- | copgiselon, leaving littls profic possible. Tnca, | than now, und at lower ates thap those of thu | ‘The correspondiug sbipmenta wera: N 1 " l Y OIIC el' S Ollg By s T stitute the world's real wealth. The appre- cesstully compete with the water soute during too, there was & wide-spread belicf that our .vm‘ u.ougnfxmulvu rn;ug;: l‘l‘om( 'ihc river | Beef, brlsand tce.. 81,4 afl'fig ; LAZARDS BILVEIMAN, 258 Xe AN ‘ clation of the paper dollar is effectively the n;e u:mn ::d nfilfi:nfifl.‘ ::o:;(hwu;ifit“::f:: markets wero controlled by cliques, ¢znluls; :fl:&luh:;:g::-:‘:.y s malke Uis thiougk vesaaue Fork b s - S of rates l ¢ ldars stood but & Door show., In 87,505 s same thiog as giring us & larger bushel, » whom outs! clicaper totranssmipcurzoes than for lake vessels | Lard, toa = i SN0 ] an country poiuts were frely practiced. Anotber | proyislons suother cause hus been st work—ths | to go through tho lateral cuuals. This route s | Tallow, 872 3,53 2, WAVEEIE BENOMIN oo PRICEY longer yard-atick, a beavier ponnd, With | miasked attraction to the gnin to come | et s Al or backere! ageacies at consum. | of fapldly <towlug luiportancs o our trade I | Dresssd bugs 46,149 183 WINTER RESORT. ciF]Bs Bpcta ceaulsed to gl slghts on aclentide prin: which 1o gauge the volume of our transac- ing polnts, which hss obristed the neceasity of breadstulls, gs it 18 the most direct liue towards OUTSIDE OF CBI0AGO, sendlog orders to be dlled on the open market. There is also somo dimloution due to the es- tablishment of speculative trading in produce fnother citles. A short time ago people could only buy and setl for future by trsding in Chicago, if we oxcept & limited smotige of such business in Milwaukoe. Now New York ofers la for this of speculation to the com- sod ¢ Cham- sume of our largest customers. As we sald In | partics (o tho provislon trade bave been heavy our lu;mnu?‘ teview, *Uur consumiog mar- | losers, Thoss who bought produceat low kets for breadstutte lio sorth of & paraflel of | prices in tho sorivg found themselves far 1atitudo which passes through tho head of Lake | thu wrong slde or the accouut in hulding Michiguo; aud the watcrs of that luke, withs its | stull to De auld in competition with contluuatious, offer the cheapest and best | cured product. ‘The pork kioge of uthe outlct for 'tho focd we nave to ecll | Loulsvile and Cioclonati—who used to to the consuwers of that vast territory.” | largo part of our winter prods ™ To this we must Jook to neutralizo tbe unmis- | thelr own, had eutfercd & gly th apeculative market is sutticient to make it worth | ¢ g m& o w“m‘uy °,f t,:{ MN‘&"‘:«? h“:n" L‘:’iu‘fi: “S.f,‘ifi:uf',“{n whilqto hold targe quaatities hero on subse- ative nog lact of railrosd stoc! of cut around Ci . Wo noto tbat an- | Inve: queut storsge. Littlo of this has besa done B:l of Coiamerce’! bave been established at omu\wmpeumwmr ads s lovming up J ahort tiae been gencrally B L BOTT\SURE AELLEN, AT e Tia din, GESANES ANL (kA | BPSPURR SR SRRV iR R ¢ vobAsco & xuasky | TN H W ¥ E A 1R 8. | beinferred from a comparison of theso fig. YUZ BTATE ST, 91 WASHINGUTON-8T., oppoatls Uosage & Co.'s. ures, as the Amarican poople have only