, 1874-02-09

Tho following views Of throe prominent mcn..-
rantageH aud evils OF - tho present
warehouse syston, md Warehouse Inv,
last Friduy evening: It was stated . thass
the milwaukee, system Of making tho raliroad
companies responsible for tho receipts, they hay
ing the management Of tue elevators, was giving
that city I'LL advantage oyor Chicago. Also, TINT
whero there wero no competing railroads. the
potng points it would bo given lighor grade,
than itdcseryod in order to ret il sont to Miwau-
keo inhload of Chca9o It was stated thai 1t
would be best for nll Interests to enforco tho
prc8out law, 20 that no receipt could DO lBa'ted
Tor grain not already in stole. Certain inaur-
nnco companies had withdrawn from insurlng
grain in the elevators owing to tho impoaslblllty
OF finding whother it really was thcro or not
Hugh Mshor'B Elevator. In tho mntter of
shaving grain paper BY issuing short quantity on
grain receipts, it was thought desirable to havo
tho surplus, il any thero should DO, accruo to
lilo State insteua of 10 tile elovntor. Thoho
would tllon bo no object III shaving, and short.
plaint ms it now is. Also, tho railroads onght to
receive it, aud account for full weight.
On tho question Of tho responsibility for tue
grain, it was stated tint tie Supreme Court had
bold that, from the moment tile grain was depos-
tied Ill the ELEVATOR, tho responsibility OF the
rnilroad onded, autl that Of tho receiver bogan
this, although the lattor had no choice OF elovat-
going to 10 unloalod. a romcdy WAS suggested
III making tho railroads responsible for the grain
until callea for by tho consgnoe, or for certain
reasonable tino after he had bocE notlllo1 Of its
arrival. This would prevent the diBcriminations
against certain warehouses; by omnoney.lenae,s,
Legislature to fix the rate Of storage
was goaorally concurred in. and 1t was
also urged tllat tho elevators should bo
required to talto out u license for bottcr security
n,g,ncea, nld monoy-endere. Tho right Of tho
Legislature being conceded to Tx tho rate Of
storage did not provo tlat it was good policy
that it should be 30 fixed. It would bo better
that tho puoplc III, thdr individual capaclty AZ
men OF business shouid establish tho rates. A
low rnto for long ntorago was not Desirable
The lowor tho first storage was tho botter for
tue fnrn,er. As rule, farmers did not hold
tl!oir grain for oyor ten days after reacing tho
city, and those WHO sold Immediately Oh arrival
nNu0 tic most money.
AT a meeting of the Directors Of The A1ichi-
| gan Central 1saiiroatl Company. hold Mt Boston,
Jan. 20, tho reports Of tho prcsident wero pro
HontcG. 1n consideration Of tho fact HUT the
upon tic permas,out improvement OF tho road, it
wns voted that tho usual Ho1n-an1,ual dividend
10 passed. Following iB D summary of prcsl-
| don't joys report: Extensive improvements
Ind become necessary during tho last two years,
| lit consequence Of tho increasing bsinoBs to DO
done. Tho reduction OF ratoa to lcsa linn olie-
half, in tic seven yenya preceding 1879, ewing to
tho multiplication Of compelling roads, made 1t
necessary to transport threo, four, atid eyol,
tiyo times tho tonnago carried In 1865,
to lnailo tho hot earnings much larger than toa,
| of that year. This Involved double traclss stool
rails, eniurgod gro,sndH Mt torlnfni, aaditlona!
| eu.lipmont or locomotives and cars, nnd nov aud
enlarged construction and repair sl4opg. al tho
old 1iup IL Of stuol oxcops 05 mloa. Tho double
| truck III all stool, New machine Bhopa have
hcon completed at TaukBon, aud from S20 01o t.
Ro5, QUO will bo expended to complete one build.
iu; al!d ropair another at tho Junction near Do
troit The rond il now IN u condition to do itE
enlarged business with oaHe anil ooon0uxy. DIV.
ing to yartUlA cnllaoa tho rceolplA llavo largely
fallen oil during tho last six mouths. Tho rutet
! OH WcHt-boiil freight, owing to competition
botwcot. Tho competing furnishings, hnso bocl
considerably loAS tllan ono-hnlf tho regular tnri
ratos. East-bounl freight, MP to tho middle
3eptembor showed large lllcrcaHc, amounting
to oyor $4,000 during tic SECOND week OF thu
month oyor tho same week last month. tn
panic tlien occurred, aud tho incrcaso was lost i
tho next woot. Notwithstanding those tt!iscul
tias, tho increaso in tho 'grosH business 1oT "
nix muntl.B ending with Noyombor WIS Slb2,
4l8.55, Of which &0,80703 waa for IeuaonSors
md 9145, 0.H3 for freight aud llHcoilAlloon
earnings. During tho Ratno tiMo tho oAr,!lnE
OH Wost-boula through freight. foil oI $l3l
AI.42 showing an increase Oh Lnhtorti ntl8stacs
OF 1855, ,012,O7. With tho customary rates. al
,,H,lul WoBt-bound business, tho incgeab0 allou
hnya hean NG0Q. 600, During tho first BDYan WeeH