, 1874-09-20

Lake water ITO feet wide and CT feet deep, flowing
steadily At the rate Of or miles per hour lnto the
Deepaiues and Illinois Rivers furnishing an immense
and neyer-fatljug wAer-1over every lock- lin
ing the banks OF both rivers with vast manufacturing
establishments. giving enrlo sneot 70 5ens o. Inou-
sands Of men, women, and children adding constant
~ to their and to the aggregate wealth oi me
State; aud relieving our alnashousas and other CHAR
itabe institutions OF than half thctr burdens
aud. while largely increasing tho b2s2a OF taxation,
actually liashiug the relative amount OF taxes re-
quircd. Such stream would carry oil al the SOW
age Of cur city, and still bs pure than tho rivers
With whose wuters it would miuSle. -.-.,,-
In relation TO the au-aHorbing transportation
question now Rgitztiug the public mind aud
almost threatening the peace and good order
Of society, the completion OF this crest project
would effect solution BY bringing heso tWo
immense watcr-systetns into full competition with
treequartcrs of nil the railroads in the United States
and doing to restrain anu control thu charges u
rHroad corporations than all the Legislative acts which
have he passed. axing the Iople with the sup
port OF army Of officers to enforce their provisions
The cost Of making this improvement IN th1 anner
genciea including the work already done Mt Henry and
Copperas Creek, and the protection Of the banks Of
the canal by ample slope walls wherever necessary,
would not exceed $25 600 0u0-a bayatee, when
compared with the immense advantages which would
flow from its construction.
ALLOW me to hope that rou viii continue to u7go this
project upon public attention sul that the daily and
weekly papers the line, aud upon the greet lakes
and rivers, will its importance, and lress for *
early completion. 1t Ia the only point the face OF
the goLe where an expenditure small produce
such grand results and 60 pab1e is this fact, that
its accomplishment ran be postponed but very lew
years. even il neglected now. Yours truly.
CHICAGO, Sept Is. 1874. L. J. GALLOWAY.
THE LOAN MARKET.
The statement below Goes not tell very fat
tcriug story Of the business Of the past week;
but several negotiations some OF them involving
large amounts, are in progress. Mouey ls in
fair demand, and goodly proportion ct tho
loans il for rebuilding purposes III the burnt
district. Tho rate Of interest has et,lfencd.
There WAS ono period during tho summer when
there was u disposition to lend money at lower
rates, aud, in fact. some largo amounts were
placed in the hands OF certaiu agents aith this
end in view but tho dcmand at that time
small, aud the conditions were rather exactinG.
go that nothing came Of it, The days
of cheap money in the rcal-cstato loan
market a1o eonu by for this season. Nine
loans have been placed as low as por cent, but
this only in the Casa of renewn!s. We note the
following transactions: 4 loan Of $4,000 for
five lots in the neighborhood OF Clark and Taylor
streots,-tho loan to be expended in building; Il
loan Of S25. 900 for five years, 10 per cent, So
cured by trrst-ieed and lot eas. side OF State
street, between Adams and Jackson Btreots;
loan of $1l.0oD for i've yoars 10 rcr cent. Sc
cured bv trust-dced on 42 feot on Rush street,
north OF Superior street, with improvements
Gerrsh Subdivision, Sec. 2a 80. II, was in
numbered by mortgage for *30,O0', tho past
week, interest at IL per cent. This mortgage
WAS made subject to three existiu. incuIn~
brances, Of $4,000, $5,000 and SIC, 0,0U0, zcspec-
tiTeiy.
COMPARATIVE STATEMENT FOR THE WEEK ENDING