, 1873-03-22
Complaints Of Shippers of Stock Exam
ined-.-No Serious Tarllt Found.
Statistics OF Receipts and Ship
ncnts Mt tho Yards.
Recommendation TINT tho Yards DO
Placed Under tho Supervision Of
tllo RallroRd mud Warehouse
Commissioners.
Inn. John Ear1p, President of Ihc Senate :

v.tc certain alleged abusos charged to oxist In
tho ,1nnnnucment Of tho Union Stook Yards Of
nh,oan, no, 5,oyo In ror,ort to tho Honorable
uh'eSso' oee ieoso ~ .upu.s ~ ~ ~ -. ~. .,,o
tho sonnto tho conclusions arrlVed a. py Gig
Committee upon M investigation Of all tho facts.
The ctartor undor which tho Union Stoch Yards
,ror, ;ncoTnoratoa wns nabgol by the Twenty
Moio '1.soi oiPoAa'o.' ""' p"se ~
&onfeA AcnesaA AaseheIS' ono apptosao W .ao
Governor, February, 1866. During that year tho
Cor,oonv ernenled, Us ig shown by ther books,
and Exhibit !" A, hioroto attached, e1,7oo,00 In
the oons!i1sctio'' .! no.ol ~, ouluhs' u
track keotlliact'uB t1to y"tu" WIZ w. y, 1e"
Of railroad comforting III Chicago, and In tho prep
aratlon;ot 'yerde sufficient In capacity to aeeom
=, ,nnL,nr adiiiona to tho wards. thoro
tn'"ah1s' :" 'H"se q. ,,..1. a,,a, 80 am noo
has boon o1Eonoso ns'le wv, SA,oos,".u.
:; THE CAPITAL srooK or THE coMpAsY.
IA al 100. .Doo and iR divided into shares of 800
eas,, n tho atock. r os7 e,,nrov or moro than
oaon" H., ,,oroop. Gv;ng IN Mnaao,
onc-heu are @ o"lcN ~ po,au aa ~ ,orsona l,ntn1
chaetts 7es nl'arcs are ownea ~ pe1aot as
burlington Il Quincy Railroad, Company, and 900
s,":a. H., ~ T,o1,c ghorc 4 Michigan Southern
nl,i'a.s1 da,onv ,rno romo;ndcr nra o,vncd Nv
Na'lroaa COMPANY .no 1o. ".,asa nt.tan M ~
books Of tho Company show, and aR will also mp
nn,, hv raforonco to exhibit IA" Tint
Fo'' - nns, ,,rr nraonncrs or TIE COMPANY >,
for tho oight years Of tho existenco OF the Stock
Yar{1B, upon The actunl Investment, havo not
roaclle1 I por cent. but for tho last fye years
annually. q dividend Of 10 per cont has boon &C.
olarod, To complete tho financial history or tho
yards the land, 342 acres, purchased for stock
yards puiposoB and now ownea ny tha company
1as :nctoasoa nse ro,a ~ n3 ~ rn,,at 1,ccos.
sariiy continue to i1lcroaso In. Value, and will
ultimately add immensely to tho wealth Of the
corporation bit from this aourco tho Company
receive no additional revenue, and therefore, m It
tornining tho profits of tho business of tho
Stock YaTdB.
WHY TIE COMPANY WAS ORGANIZED.
At tho timo Of the organization OF the Union
Stock Yards, and for years before, thero had
been conducted by Individual enterprise four
aoparate Stock Yards, known anl doaignated as
tho Cottage Grove, Michigan Southern, Lake,
Shore, and Fort Wayne Stock. Yards. 1t was be-
loved mud urged aa rcason for tho consolfda-
zion Of these yards With tho UNion Stock Yards
that The latter would afford advantages to the
producers or shippers Of stock which could not
be realized undor THO old system, by
bringing tho scllor md buyer into i'm
mediate contnct; that 1t would :aerve to
mako the market hettor and steadior; that
tho facilities Which which would be afforded by
khe Union Stock Yards would bo ampler and bet-
ter. It had been questioned by some whether It
arc still those who pre,orrod tho old syntom who
urged upon your Committee tho proprioty Of first
Committee therefore prosecuted an inquiry
which was intended to- provo tho affirmative OF
tho propositions advanced by those who favored
consolidation, or, failing in that to establish tho
Ind THAR origin in tic now syHtom. and tho got
tlomont Of tGat question would dotormino all tho
othere. Thoy a1ailod themselves Of tho expert
THh the old eystcn,, and those generally fnmiliar
with the nav. and men. too, Whose intorcsts