davidaulloa/AmericanStories huggingface dataset:
, 1860-01-02
Flour.


Notwithstanding the drawbacks CONSEQUENT
upo" the interior "heat crop oi 1s5S, the Flonr
trade has shown quite Il rapid progress during
the past year. Not only has the manufacture
greatly increased ull over the Northwest, but
the quality Of the various brands liuye improved.
nnd it has penetrated into markets where it was
hitherto unknown. Especially hus this been
true Of the trude of the pust fonr or fire mouths,
during which time VIC hare supplied the Fits.
burgh market freely (,aving shipped by tie
Iittslurgh, Fort Wayne l. Chicago Railroad
1lG.lll bEls during the year, against .,oa9 br!s
in 1859, and where many Of our Spring Extras
are inspected Family to lie best
brands Of Rouud-l.oop Ohio. supplied by Gin.
c'unat'. During the same period, loo, We hayc,
though to more limited extent. supplied Ph,ln-
delphla, and eveu Baltimore, mud several ship
meets were made, at the close Of the vcar US
fur South as New Orleans.
III the early pnrt Of the year, the quality CT
our Spring Wheat Flour. like the grain itself,
was inferior; and it found market chiefly it,
caunda East. On account, too, Of the short
crop OF ls3s, we suppiied Canadn West. and
Hy reference to our table Of exports, it will b.
seen that during the year there were shipped
by railroads leading west, Il, SCI brls--n thing
unknown in Tie history IF our commerce,
Since tue new crop Of Wheat was ground, 1ow-
erer. but little has been Slipped to Canada-
the buyers for that market being unutle to COM
pete with those of New York, Boston, Phila-
dolphin, or Pittsburgh.
It is also fact worthy of note, that, during
the past ycar, u large number Of New England
buyers, who formerly went to New York to
make their purchases, have come direct to this
CITY aud had their orders filled. The New Hng-
lane trade il now quite large.
AS will be seen By the tables which follow,
the entire receipts Of Flour for the ycar amount
to 74a 0l2 brls against lel ,9l5 brls received in
1915. OF the years receipts, 43?.oo5 brls hare
been received since the 1st OF September, aganst
elG .3S7 brls during The saue period in ISIS.
Tho following table shows the amount Of
Flour manufactured in this city, compared with
the manufacture Of the past eight years:
-Four Manufactured in Chicago in 1859,
, 1860-01-02

Spring Supertine aud the best brands Of Spring
Extra hare sold on the 1st OF each month for
, 1860-01-02


nuring the first six mouths Of the past ear,
the receipts VI Rye were scarcely sufficient to
meet the local demand, and nearly all Tint was
received was snld to distillers Oh the track bv
the 6" lbs. Oa the ID Of January the market was
quiet at but it advance to sue on tue LIST
of February, and 3:c on the Issh-cfosng On the
.slh as yuc. In Masch prices ranged from :eec
"::c. III April there was - fair supply of Corr,
aud uietilicrs bought more spariugiy, urd the
market RANGED from :nGI::e. In Nay there
was u go"d demand 70. k,c by miilcrs ~ we'll
as dstsllsss. and the market advanced fFo1n y;sc
0n the 1st to 81 20 on thu: .3d-cosiag Ut 81 II
4. l.:, ut which ii.rres it remained steady our.
luE the first half Of Juns gradually .ccli1iur,
till IN the cn!a j: sold 1t >14Iyue.
On the 18th Of July she nrss car load Of the
new crop Of Rye was rcccived and sold Ut et,c
ly during the month, till OIL the .,;th il teif as
low rs juc-u decline Of seventy censs tron, the
prices reached iu May.
Towards the c!u>,. Of July and tie beginning
Of August, 4 ship ping demand touks place for
Buffalo and Cleveland, and the market advanced
carly in the tnontl. OF August to Ste, at which
it remained steody during the bala.ce Of Tbs
OF The market wax upward, advau iug from ,55c
on tho lst to 6!ess0 on the lslh, at which poiut
the market took i downward course, and cloeeL
1t GlGtt3c. In November the receipts irlI eff
very materially, anL tis.l!crs and 1nillera
bought all ihas was reccived--tha market ad-
rnnciug to 6;c al The close of the month. In
December there was Il good demand by distil-
lers. and also some speculative inquiry, under
which the market advanced from, .'c on the 1st
to sSc on tho 18th. but gradually declining to
74ass5c on the l7th, and clos:uy quiet on the
31st at &c.
The weekly price Of Rye in Chicsso mud New
York will be lunnd III the following table:
, 1860-01-02

ct that our quotations for exchange are
Upon currency as the stardard, often ap-
to tho disadvantage Chicago US Com
asrcial City. We report things as we find
chants and bankers on this system, it il more
concise to state facts as they occur in ordinary
TRANSACTIONS check upon our Banks is not
good for specie unless It is 30 specified upon the
face Of it. The holder Is paid in Illinois aud
Wisconsin currency, in exchange Ut "cur1ent
rates." or in god OF caster bills, at the preui-
uu which, for the time being, rules the market.
For Coin our Bankers viii always draw ut about
per cent. premium, and the difference between
that rate and the figures given in the table
shows really the discount upon our currency for
each week in the pust year. As n,l :ht be sup
posed, Eastern Money, and eren the pills Of the
Ohio, Indiana, mud Michigan Banks are about
driven out of this market. As soon as they
End their way into the hands Of our Bankers,
they arc assorted and sent home for redemption
in Coin or Exchange on New York. Our rates
are al given for thnt city, for in the comparison
our transactions ure comparatively snail with
other cities, and tasances} are generally settled
in New FORK Exchange I
y Ono cause, perhaps 1hS controlling ono, for
our anomalous linanciay position is, that we
hare no banks Of issue. After the passage Of
our general banking Law, several were cstab-
lished. but they found it impossible to compete
with the country banks. LIS their bills were con-
stantly sent home for redemption almost as
soon as Issued. A glance ut our table will show
why II would hare been impossible Tor banks OF
issue to do profitable business in this city for
the past year. To issue bills, however, is not
essential to large and successful banking
hnsinsss. The va.ue Of the exports Of The city
ior the past four months in the cereals, beei,
pork, and few other articles, has been ut least
iwelse millions Of dollars, and nearly all this
immense @ amount Of monty has passed through
NE oands Of few Of onr loading bankers. TIL.
Ea9aaetions Of the Marine Bank, Of Geo. Smith
4 20 o. =. =. Tucker Co, /. Il. Hrch Co.,
tEanaf. tI :. T. adams, would be,r comparison With
!. S.@&s York. w.
aeoiee 1asnish an interesting chapter IN
, 1860-01-02

oats.
The receipts Of Oats during The past ycar
amount 10 !. .el3,e4s bushels. against s,oo95 3sa
bushels received in 1S55-a decrease Of 4sas-4
bushels This falling OF in the receipts is en-
tirely due to the failure Of the crop Of 1858,
which was poor, both as regards quantity and
quality.
tablessof receipts, it will be seen that the i'm.
ports hare been liberal since the new crop was
harvested.
In January the market opened with stock
Of 100000 bushels, mdstfv Of inferior quality,
and on the ed, sales were made at 4s4ea@A.6
4S, ard .he market remained steady throughout
the month. Oats at ths crop Of 1857 were in
active request At soc Ia store, At which l.N.0
bushels we're sold on the 1lth, advancing under
a city demand to 52I54c.
In February the market WAS very firm. espe-
cialiy for prime qualities, which were in partic.
for seed oats, and several prime lots were sold
as high as 65975c- About the close Of the
month there nnA a demand for shipment to
Cincinnati, St Louis md Quincy, and No.
was sold at 55Ge57c on track.
In March and April there was good city and
shipping demand, and the market ranged from
5v@Ji5c, according to quality.
TN the 1st Of May 4,0u9 bushels Rejected Oats
were sold for shipment to Buf1lo at 44c, I. o. b.,
to which port several cargoes Of the same quail
ity were shipped. There MAS also good de-
n1aud by lumber men and st. Louis, and the
market was nc,ive and frm-prlces VARYING
from 46@5ec for No. ], and 5oGcj5c for choice.
II Juue the market fell log 1llc-,pening on
the Sd with d sale Of 15,e0o bushels No. ut
Acc I. o. b., and closing on tue s0th with sales
of the same qiality 1T SIC in store.
&. In July the market was active md it
declined II q lac-holders becoming anxious to
selt out before the new crop was harvested
On the 31st No. Oats were sold at .5c in store.
On tile eth the first car load Of new Oats was
received and sold ut 3uc on track.
On the LIST Of August the stock Of Oats was
reduced to S9,2l5 bushels, and under II good
demand for shipment to Buffalo and Pittsburgh,
pieces were steady-ihe sales being almost "a.
tirely OF the new crop at .5e 5e5.sc-closiu; Ut the
inside figure
In September, during the first two weeks the
market was quiet and steady ut 2jcQI.sc, but
towards the end of the month the receipts fell
OF and :,rices a1raaccd to S0G3lc-cIosing on
the 3u.:s. ut 29c.
In October the market improved under good
inquiryfor the Buffalo: Gincia.ati and Pittsburgh
nfatkets-adyancinY 70 cic for No. !, in s:ore
on the 9Th, anl closing at Sa@ @::!.
In November the market opened dull, and
decline Of 4c. was suffered during the first week,
No. selling ut CSC on thesth. After this date,
however, the receipts were trit1inG and under i
fair demand the market adyunced before the
close Of the mouth to 3lG731lc.
In December there was gool demand for
shipment By railroad 10 Pittsburgh, md
other points. AMI late in the month orders
were eycn received from New Orleans, which
were also filled Prices during tile monsh
ranged o@5c higher than in Noyember-sales
on track II 3i9L31c, anu in store ut 81 Ql3ic.
The following tabl. shows the prices every
week in Chicago aud Ne" York during l>59:
tF-..5 Ct*
, 1860-01-02
, Inc following table shows the shipments OF
eofn LOT hve years with the route Of export:

ShpM<aus n Es,Fn Esr Fvr< Te1rs
1856. l:5. 1ra 1en
p Laka bush. ,gsa 40 6;ihs4 s3s6;6t ssS:7s
, 1860-01-02

the financial history Of the West. For the first
four months exchange ruled at 13llt per cent.
premium. The next four it yibrated between
:G2a, reaching 8 per cent August Sd. These
figures represent the price to customers ut tue
banks; while for a portion of the ri1no "out-
siders'' mere glad to supply themselves Mt }Gla
per cent. abore these figures. Nor were Tie
stringency and the high price Of exchange cos,-
fined to Chicago. The cntire Nest seemed 10
hare bccu draipcd Of it, aud nearly efl the coiu
OF the country was sent forward 10 New York to
meet our liAbititics. If The Discount. on cur
rcncy he added for almost auv week in the year
to the premium on exchange, in St: Louis, or
any ollier Western city, it will be found tlat
the price in Chicago rules US low as it does nny
where in the West. For mouths sbitter COM
plalnts were uttered in business circ'rs against
the character Of our currency but our people
hare loarncd to offset the rice Of inconscEtibiisy
nyalast the virtue Of security, which to u very
large extent it is agreed on al hands our cur
reucy possesses. For tllc hast four months in
the year exchange hus ruled ut more reasonable
rates, and Dec. 18th it reached par for tue Sec
ond time in the history Of tho city. The nomi-
nal rate ut The banks WAS per cent premium;
but for a day or two it was s9td in the streets
md by some uf thc Bunks in large amounts Ut
par. This low price vas caused by the activity
aud speculative feeling in the pork trade,
large amount Of which was pressed upon tho
market.
The wheat crop for the past year vas short
in amount, but excellent. .n quality. The corn
crop in most Of the country ives: Of Lake Mich.
tgan il large; and wi II the good prices which
have ruled i"r the past few months for the
cereals, for beef. pork and firm products gene
RALLY, tue West il fast assuming IN independent
financial position. Economy in individual and
general expenditure has been sigidly practiced:
and to pay debts rather ,hau to contract Thea,
has been the great object ot nearly oil Cur leo.
Nnrr1,ut,fL hnr =
with tue. vast amount of indebtedness that has
been liquidated du.ing the past year, the West
viii soon be p,cpared to enter upon bright
career of prosperity and progress. With mo
.her good crop and good 1'rices, the cry Of
.'hard times will be heard no more in all the
land I"
, 1860-01-02
The following table shows the shipments Of
Oats by Lake during 13 years.
barley.

The crop Of 1855 was, Ike nearly all the
Spring crops Of that year, b!asscd and inferior
besides being badly stained By wetweather in tho
harvest. 1t was therefore neither desirable for
shipment nor for local use; and our city brew
ershad to supply themselves purify fron Buf.
falo md p.r,ly from Nilwauke-.he crop. Of
Northern Wisconsin, though nos prime, being
bet1er than that of Illinois.
The crop Of 1889, however, was Of good quail
ty, rs well Is fair yield, and the weather was
Tery favorable for curing it-so that, on the
whole, the crop is better than any we hare had
for several years-eomparing fa1orabiy with
that Of Canada West aud Western New fork.
tn the 1st Of January the market opened
quiet ut 60@s5c for No. in store and 40Gi
for No. g. During January and February, how
ever, the demand was chiefly supplied from the
daily receipts, choice parcels of which we're
sold on track at 1880 On the 1st Of March
sales were made on truck at 55l Soc, according
to quality; but speculative Inquiry sprsngup
for NJ. !, md on the Sd inst. 10000 bu were
sold at tec in store. This demand, however.
WIS on'v temporary, and at the end Of the
mn. til, tue market closed quite dull. During
a4,r isr.,; half Of April the demand WAS chiefly
c.,tti, 1t! to the wants Of brewers who bought
nn track at 5o@7ac-the market for Harley in
sture being entirely stagnant. About the 18th
a cargo Of No. was purchased at 5o@5;c
f. 0. b., for shipment to Budalo-the first ship
meot Of the season-the demand again falling
of towards the lstteE part Of the month, and
, 1860-01-02

80 review. During the year some
= hare been greatly depressed, OWN.
partly to slow collections, and partly to an osc:-
load Of indebtedness contracted prior to the re-
vulsion Of 1857. 0lhcr branches however have
been prosperous, md hay. greatly extended
their business; while number of new estal-
l'shmcnss have gone into operation. It is net
to be concealed that capital is ssdly wanted in
this department Of our business industry; uur
is it TO be denied that finer field for that d.
scription Of investment can anywhere be found
than in this city. We have reason 10 believe
that this fact is just now engaging considerable
attention in the proper quarters. ind VIC conf
IDENTIFY except, during the ensuing year, large
accession se our manufacturing capital. From,
these remarks. however, it must not be inferred
that manufactures iu Chicago are Of incons;dcr-
able extent aud variety. On the contrary, in
1887, the capital thus invested in this city
amounted to S7,;59, 400, tie number Of opera
tiyes to l0,57S. and tllc value Of manufactures
turned out, to $l5, ,5l5, ,063. We think it safe to
say that there has been In increase rather that,
falling of in these aggregates since 1867.
Without further preliminary observations VA
submit lie result Of our 1abors, soliciting there.
to the careful attention Of oil classes Of renders
No7xThe tahles Of s,ailss1cs which feow are full ami
complete Eeae1 Of the records kept in tic Gust I'm HOUSE and
Railroad ooes. In The books Of the Custom House owing
to want Of system al care in maknE entslc tcte aJr
doubtless lnaecuaasz which would Impossible
at t.e Gloss fthe ae.scu 70 corrct.
, 1860-01-02
THE GRAIN TRADE.

The capital employed in the Grain Trade Of
Chicago is probably greater than is required in
any one particular branch Of commerce in any
other interior city Of the Union. Besides the
actua! money required to more the crops, there
arc vnriety Of other interests, such us ship.
ping. Insurance companies, warehouses, DC,
WHICH are all in great measure dependent
During the past year, up to the 1st of August,
the business done was light; but from, that date
to tue close Of navigation the commerce of this
city hns rnrely becn so aciiTs. Banks, commits
slon houses, warehouses, vessels, insurance COM
panies, and oil interested in them, hare rarely
had 50 much business crowded into suc], short
space Of time; and all have reaped fair profits.
Some firms i'll this city hare shippcd from one
to one md s. half million bushels of Grain of
tic crop Of 1883; and it is satisfactory to oil
concerned to add, that in most instances there
have been fur margins realized. Never was
there in this city during the period named less
'3Asposition to gamble i'll produce, "scll short" +"
bf speculate un chances. The business dnic
was legitimate aud actual, aud for this reason
healthy-
Dy reference to our tables of receipts it will
bs found that Of all kinds Of Gruin {includiny
Flour) we lave received during tue year 20, ,0OS,-
se3 bushels, uf which l303l ,lSa bushels hare
been received since the LIST Of August.
The following table shows the shipments Of
Grain for twcuty-two ycars:
.Mif'mtts Of -Four (r1fuctsz 70 1fheat) and Grain
, 1860-01-02
THE PROVISION TRADE.

The Provision Trado is seeond only in import
anee 10 that Of Flour and Erniu, and Is every
year becoming more attractive. In Beef aui
Cattle Chicago has fur ss,ers! years occupied
the most prominent position 10 the country. and
in Pork and Hugs Ahe stands third-being next
to Louisville, which is second only to Cincia-
natl.
During tte past year quite number Of new
packers nave established themselves here. Mr.
Thos. Nash has erected 4 new Pork House OH
Ringold Place; Mcssrs- Flint i S.earus hayo
built Il very line house OIL the South Branch Of
the rlyer. In addition 10 these quite number
Of stores and buildings ia the business part Of
the city arc occupied this season By Fuckers,
who cut principally dressed hogs. Among
these arc the spacious buldinls ot the Ameri-
can Transportation Company, leased ~ Mr.
perciyal Marriott Among The old packers,
new house on tho North branch Of the river,
On the old site, and sessrs. Andrrw Erown i
Co., hare built new linn HOUSE On State
street.
The following arc the unn,bcr Of FUCKERS now
established In this city, with the capacity Of
thcie houses:
Tia FfrEiH1 UoHAtN,fUf fhsi+ f;st.t,;fh
, 1860-01-02
IIIdeHe

Tnu iulpuEtauro ct uar iiiLo 1nafket continues
yearly to Increase till now it i* conceded 10 be
By ali odds the creates. west Of New York City.
The trade duriu.; the past year has been active.
aud in the early part Of The year especially it
was buoyant and excited-buyers being hero
from all sections Of the Union. IA will be seen
from the tab1es giren below. prices Of Dry Flint
Hides ranged between January aud July ut Is
0l>Ic per lb. In August and Septen.ber, how
ever, owing to heavy failures Of Hide and
Leather merchants in Dostou anil New York,
the market became fat, bus little speculative
demand existed, an.l from that time tho market
has been exceedingly quiet, and prices ranged
l19c below those II the first half Of tho year.
The progress Of this trade may b. seen from
the tab Of receipts and shipments.
The following tatle shows tho weekly prices
Of Green, Green saited, and Dry Flint Hides
during the past year:
Z. L. A:A.s .k4si.u
, 1860-01-02

lkeefs

Some Of tho packers commenced operations
a. early as August, but the bulk Of them did not
pack to any extent till September, auL a few
continued up tu The close Of the year The
Cattle were genernlly in much better condition
this year. and they hare yielded we'll both in
BEEF aud Tatiow. The number Of Cattle killc,.
up to date amounts to 81 su9 heal; but it is ex.
reclcd that several Of the packers will ~ cum.
inence next Spring. This is the lar:s>t num-
ber ever packed during any year in the history
Of the traie-6s'ng ,;,'0s heal more than were
cut i'll lsss- The following is the numberk killed
By each packer:
, 1860-01-02
C0{Qs

In consequence of The shortness Of the corn
crop of 1853, our receipts for the year 1850 show
falling of from those Of 1883 Of e.65o,03o
even ereater I'D there been no new corn re-
ceiyeG-as the old crop was almoss entirely ex-
haustcd in September. The quality was good
and showed striking contrast from the crop Of
ls57-which was danaRed b} frost.
One Of the most striking features Of the Corn
an,onut Of new Corn receiyed and shipped be-
fore the close Of navigation. tits thing never
before known in the history Of our commerce;
but the necessities Of distillers, millers and
Observation-Disclosures in the East-who had
nearly all held of iron, buying during the sum-
nd and l. .s 81 oi ahs
season without their usual supply, md the crop
exhausted. Fortunately the new crop vas ia
, 1860-01-02
.t.f ntcI;~f ita l>M.


Ibtai. ...........I .s13 Is,EB FalNs sF9st.b&
Of the abovo pr".luct about 5000 pkss wer:~
lost on Lake MiaA-.s.r H.. Inc wreck ot The pro-
pcIier Oric-.ai. The greut bulk Ut il has been
sh,pnad sast, except about ~ much II will sup.
,Stasl! :s.6ants oi. t.>e h.nbvrn!en uexsSrring.
The price 0f usst 1scef during thc ssraon
ranged from sS.!uG !,eU for Mess, and $i.5Vu
IL ~ for Extra Mess.
The following tablc shows the amount Of tbs
packing for the past nrc ssars:
Tie Fackiny EariHtxs far Vine 1tdr~.
Nn A. xf Ne ~ A. ~
, 1860-01-02

The price Of Exchange on New York during
the past year is given iu tue following table
II should be remembered that the quotation.
are made for Illinois aud Wisconsin cur1cucY
a. the xfpnisrd
, 1860-01-02

Tata .::......ll1-a,t&s 6,s1461s 7,4sa.3 +.l16a
The following table shows the shipments by
70 the principal ports:
sAiPaeats w G~a BY Late for 1xo ra,s ;n u. port. o<
, 1860-01-02

The following table shows the receipts and
shipments monthly during tho past three years:
Monthly Etrrsamf n Fosr ~ Lai< t.stsl +..i
Naiimogsy yur TAFee ltaEs.
, 1860-01-02

rotA- .f'..61 os is II II $50 4ll&.i sGl!s;
The following table shows the shipments du-
rim. the past i've years, with tho routes Of cx-