, 1873-10-26


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comparison of tho business Of tho Hoyon
woeks to Oct. IS with that Of tho slx months from
ot business each week is only about half as largo
as the average weekly business in tho first lalf
Of tho year. This, however, has boon tho expe-
rlence nearly every year: Tho greatest volume
qnently remarlcd, is always in February, hiuroh,
and April. The smaller volume Of business this
fail has, therefore, no connection with the ro-
cent hnaneal pan'o Tho average amount Of
pa,od ,vt to sI zach transfer ow as
tic falling OF IN larse lS' speculative asiyo
purchases of acres, and tho present propoudcr-
ance Of smaller purchases for occupation Us
homes Of tho purchasers.
1t appears. therefore, that tho financial panic
has haa much less effect on sales and values OF
real estate than many peoplo seem to think, Il
III probable TINT tho unexpected Btoppago Of tho
ordinary supplies Of money havo distrosscd eomo
roal estate speculators, Us it has operators in
everything olso, but We lear Of scarcely an in-
stance yot where property has been offered for
any considerable reduction on tho prices de-
manaed three months ago. On tho contrary,
%e o@ht henra Of nGt loss than seven
Of parties coming here from tho East with sums
OF $4,000, 9l5,0U0. and oven S40.O00. in
currency. prepared to buy md pay half Or two-
thirds cash, If they could got
The persons who camo here with these yiews
expected to find TINT they could buy yaluabIe
property IN Chicago for 25 or 80 nor cent less
'I than It tn, Ind been previously hold at but as
and that all the property forced upon tie market
is picked up very quickly at much less reduc-
tion.
# begins to appear, nov, that tho recent panic
will do Chicago
MORE GOOD THAN HARM,
because it ia demonstrating to the world TINT tho
trade, finances and real estate yauos Of this city
are based on much sounder foundation than
envious neighboring cities have ever boen will
Ing to admit. It has demonstrated that tho
trade Of tho city is the legitimate interchange Of
manufactured goods Of tie East, and nd that bat
gsnts gssat r's a,tnen;s ssnnGt divert Il nor financial
that tho financial business Of Chicago
is on sounder basis than that Of any other city
in the United statea, as ia proven by the fact
that the banks Of this city arc tho only onos Of
a' II? fss e afo aops aG| s srssy Bspg IN full On
the banks ofthis city the vast collection business
OF the manufacturing cities. Manufacturers in
pitttsburgh, philadelphia, anl Boston, will send
a thetr collect colloeiions on o. the Wcatern States
Their no1t move will be. to establish
their principal agencies for the salo
Of goods here. and, finally, to establish branch
manufaotories hero. Thua, tie manner in which
Chicago has gono through this panic will result
In bringing uA moro money md moro trado, which
viii necessarily result In more rapid incroaBo
Of population, and tho ateady increase OF real
estate values.
~ THE NORTHWESTERN guoPH,
within q month or two tho Chicago & North
western !taiiroad Company will act 800 mechanics
70 WORE N their how shops, In SEQ. 10, juAt west
OF Central Park. Tloro are not dwellings enough
near tle new xA>pa yet to accommodate
one-t9nth Of this number OF workmon,
and, during this wintor tho Company will run i.
suburban tratn to tho shops, 10 TINT tho mou
can Two 10 tue city but noxt spring this train
WIN 20 discontinued, ~ It is expected that tie
now town aro,,ud tito shops will bo built fast
enough TO accommodate tho moohanlcn with
euburban homes. "''''
AUCTION BAI.EH,
The only real estate auctions Of tho past yeok
have Doon those by EllBon pomeroy h To.
which have been well attended, and oonsitiar..
able amount Of property disposed Of. 1t tic
sale on IueBday, at Nldgoawn, formerly known
as Can0old, on tho Chicago & Nortfvestarn
Railroad, tlllrty-ono lots were sold at pricea
ranging from 1895 10 $500 per foot. tho salo
amounting to 90.050.G0. Tie attondanoo waa
fair, and htddlng good '~N
Tn "Wednesday, tho same Arm made tLeir tlret