, 1874-02-24

with tho wants Of tho trado, a. to render It I'M
possible for Board Of Commissioners, with
shetr headquarters at Springfield, to attend to
tho business properly, and at tho same tmo on
force Tho lawB regarding tho management Of
railroads. Uudor those circumatanoos, 1t Ia not
surprising that tho prcsont law aud It's admins.
tratfon havo proved unsatisfactory. Tho d.
roctora unanimously agree tint tho system Of
State inspection iB wrong In principle and IT,
furious in practice, both to agricultural intor-
osts and to tho commerce Of Ohioago. Has not
tho timo arrived for tho Board Of Trade, repre-
acnting tho commercial interests Of tho city md
Of tho country tributnry to 1t, to talo actiyo
measurca to onltghton shippers and producers
AZ to their tr1o interest, md to cause tho in
speotion of grain to bo p1acod upon. tho bamo
banls and undor tho same control as tho In
speotlon of flour, highwlpos, provisions, and
othor property bought and aold On 'Ohango
in thia oity2
On tho subject Of short woightain grain arriving
byrairoat, tho Directors thint somo action by tho
Association Is required. So long as railroad cor
porations dony their responsibility under bills Of
ladlng for tho quantity Of grain thoy rocciyc,
the evil cannot DO remcdiod by watching tho
Weighing Of grain nftor It arrives. Tho law Of
1871, requiring railway corporations to deliver
tho precise quantity rocoivod, would, II enforced,
correct tho OWL Of abort woig1ts, md would alao
correct other abusos Of railway management.
Whntevar in lost by aoeidont, stealth, or othor-
wiso, In transportation, adds to the. expense Of
carriage. To remedy tho loss Of short weights
would, therefore, lessen tho cost OF trauaporta-
tion. Companies carrying grim by water issue
bills Of lading guaranteeing tho delivery Of what
thoy rcooive, wtlo tho bills Of 1adng Of railroad
companies give no evidence Of quantity or value
Of the property shipped. Tho Directors recon-
mond that the Railroad Commissioners enforce
tho law Of April, 1871, on this point.
Tho Directors explain that while they united
In memorial to Congross setting forth tho ad-
vantage Of 3 doublo-track railway for froiglt
business botwoen Chicago and Now York, tloy
did not do 60 ii tho interest Of any persons soels-
ing subsidiosor other Governments aid. Whiloim-
proVements in water communication arc NODDED,
Increased railway facilities are also eaeaontial.
Tho movement Of grain can no longer bo lin
itod to the season of lake and canal navigation.
New roads aro noodod but tho Directors would
not recommend Congrosa to grant charter for
railroads without restrictions. The great Issue
Of to-day ia whetlor railroad corporations shall
DO permitted to establish customs and principles
for common carriers by rail different from those
observed BY all othor carriers.
Tho excessive chargos to which grain ia sub-
iected for Weighing and towage in New York
harbor are discussed, md 1t is stated TINT con-
mfttec tB now acting III conference with tho New
York Produce Exchange on that subtoot. Tho
report was written before tho recent decision by
tho Supreme Court In tho case OF Mum t.
Scott, but tho law, which haa been sustained by
tho Court, is commended. Tie Directors find
in the general review OF tho events of tho ycar,
TINT the stability OF the Board Of Trade and tho
strength Of tho banks, merchants aud manufao-
turers OF Chicago have boon tcstod md proved.
Notwithstanding tho interruption to business
and the financial distress in soptembor and o.
tober, the trade for 1873 greatly exceeds that Of
any previous year. The panic overlook ua In tue
buaioBt season. Amonoy crisis at such atime could
not bo otherwise than disastrous. While thesuf-
foring wae genoral and severe, the Chicago Board
Of Trade did not suspend business, and had no
adjournment OF its regular sessions, and not one
Of its members reported to hapo failed in hs
paniol
This exhibit Of tlo trade and commerce Of tho
city during 80 evontfu1 year showu tho per-
aud Bolidity Of tho business Of Chicago
and proves thas 1t Is in no wiso dependent upon
initiation md speculation. Within ono week
from the first stunning blow OF tho panio, tho
currency began to flow hither from all parts Of
'he country, putting trafHc into immediate opor-
ation, and loading to IN Immediate resumption
# business betwoon Chicago and all its Gus
onora and correspondents, and from that tirno
% the present the revival has been steady and