The New York herald., 1871-10-30
ENGLAND.


From the London Times Oct. 49,
Attention III the city has been almost entirely con
al Chicago, which seems, both IN its financial
and commercial bearings likely to prove more dlsas
trous than any ever known In the world. Although
the estimate or loss to the extent OF f100 000 coo may
al first sight appear preposerous, those VINO are ac
that % me hall OF the city, incuIing rne entire
business section, had already been burned, while
the flames were stu unsubdued apprenend tnat u
may ue found TO involve less exaggeratlon than Is
usual under such circumstances OF wild excite
ment. Tne exten! OF arrangement which must in
evaDly ensue, and which will make itself univer-
sally 1elt, WILL 1t Is believed. be mucn greater than
most persons yet conjecture. chicago, with Its
population OF o,o00 was the grand centre both OF
the export and import trade OF the West, and the
Calamity has occurred al season when that trade
was approaching It's height About four hundred
thousand tons OF shipping were, directly or lndl-
rectly, engaged In IT. twenty-0ur lines OF railway
meet there, and from two hundred TO two hundred
ana fifty trains daily and depart Its tralc In
grain, lumper aud provisions Tar exceeded ANYTHING
Known elsewhere, and while ITS granares and
yards were thus filled, its magnificent ware.
houses were stored. with the manufactured
from Europe IN return for these riches 1t was
now just the time for the grain shipments to he
most active previous to the close Of navigation, and
on the other hand, for the autumn supply OF Man
CHESTER Lyons and other goods to be concentrated
by the wholesale houses for the wants the dealers
from all surrounding parts Hence 1t is question
how far New York VIII be affected by the failure OF
Chicago pay for these goods; and, agan, how far
Manchester, Leeds, Lyons and the 0tner manulac-
turing towns may be anected by any dimculties at
New York. on tne corn market such influence as
1t may exercise WILL OF course be favorable to our
dealers and bad for the public: AS regards the
provision trade Its effect may be less important,
as the time Tor meat packing begins with the No
vember Irosts, ana the quantity IN store as yet
may therefore, have been small. Equally serious
with the disturbance to be occasioned In trade
may be, IN many cases. the financial consequences.
The large insurance offices OF New York, Boston,
Hartford and elsewhere VIII be called upon, more
or less, TO crushing extent and these institutions
WIN be Obliged TO realize IN proportIonate degree
tnelr holdings In federal and State securities. lhe
same VIII be tne case with the life Offices which
4 have MADE advances on bonds and Chicago mort
/ CAGES. All the bonds and shares OF the railway
/ companies converglng upon the city must likewise
temporarily suffer from the prospect OF suspended
| ira f1c and the impoyerlshment OF the people,
| ana the shares OF the Illinois line, the Ere
line and others have consequently been sold to-day
! at a decline OF nearly f3 per share Sull, In the
midst or all the confusion and loss 1t s necessary
10 bear in mind the vlgor and elasticity with which
| the American people meet and repair every adver-
sity. The consequences OF the two fires which
within the past thIry-five years nave devastated the
business portions Of New FORK were untered
with promptilude which soon e1aced their traces;
aud AZ later period a like visitation at San Fran
cisco caused still greater development OF Indomi-
tape energy. Hence 10 is some satisfactlon In the
midst OF the present DISASTER 10 predict that what
! ever may be It's magnitude there will be nothing
more astonishing in connection with IL tnan the
way In which the sufferers VIII effect the work Of
| restoration.