, 1874-05-09
Gloomy Predictions of
Outside Papers.
Their Talk Of Empty Stores end
Heayi'y-mortgagod
Property.
According to Them, Chicago
is Ruined in Busi-
ness,
4 Statement Of tho Facts In Ref
eronce to These Allc-
cations.
Comparison of the Business
lot 1914 and 1873.
It Is More Profitable Even
When No Larger.
influence Of the Increased Pros-
perity Of tic Farmers.
Eastern. Capitalists Are Satisfied
with Chicago Security.
There Is Plenty Of Capital but Few
Borrowers.
Expansion OF the Business Dis
trict and Its Results.
What Potter Palmer and Other Prop
erty-0wners Have to Say.
Whero the Vacant Stores Are, and Why
Empty.
There Is Plenty Of Capital but Few
Borrowers.
EXPANSION OF the Business Dis
trict and Its Results.
What Potter Palmer and Other Prop,
erty-0wners Have to Say.
Whero the Vacant Stores Arc, and Why
Empty.
Madison Street and Wabash Avenue.
INTRODUCTORY,

AN
Chioago's rapid growth has been aourco Of
luhuise sorrow to several OF hor sister cities.
8umnora volume on "Prophoto Voices Con-
corning America" would not be half bulky
enough to contain the prophetic voices ooncorn-
ing Chicago, Of the press iu the East, West, and
South. We havo been told that NO were growing
toofaat and havo then grown faster; that we woro
building too n1uch,. and have then built more;
that ne werc weaving too gigantic not-Uork Of
commercial interests throughout tho Northwest,
and hare then thrown the meshos Of our trade
to eve5 point Of the compass. And still, do
epfa
GLOOMY PROPHECY AND KIND ADVICE,
wo have gone On In tho race, passing our whilom
siyals ems by ono. The simi1e Of tho mush-
room hAs become as throadbnro as that Of tho
ohnnix Was after tho fire. We grow as quickly
,s tho mushroom. but Us 1uxuriantly and strong
ly sa the ccdare OF Lebanon. Tho last wall over
our prospeots-an echo of all before-eomeB
from New York. Says correspondent Of tho
Graphic:
Tbs new 0htosao epraug up after the fire With
rapidly that eclipscl the marvellous growth TINT
had already made the city tho wonder Of the continent.
tholosa the resul. Of natural causes SECOND growth
has beeu forced one aud tho result Likely to be it,
Everybody admired tho pluck with which the peop1s
Of Chicago determined to begin the work Of rebuilding
while the enderp Of the city ware yet hot There was
to the merchants long credit; building materials
we1e exempted from revenue duties. and money In
Tho New Chicago was built on borrowed capital,
and covered with mortgages. This sons would hnve
been burden hea1J euough for any community to
BY 5ad management. An attompt was mado to
change tho misunderstanding Of tho city by;buiang
bunincss quarter where before tho dsa ousncls had
T6ls vas resisted BY holders OF property near the
oh bualncss-centre, and measures vera taken to
nnsued division Of Chicago into Two hostile camps,
md he desperation Of business in'sead Of i'll concen
Then There was mistake made In building enor-
nous hotola and atores Had Chicago intended TO he
smother New Yosk In TIE course Of year Or
nons. AZ It ts they have proved = fatal Tassa OF
money. Tho great hotela arc never l'led and scores
That vast amount OF Chicago property must before
long b. sold under foreclosure to pass Into tho hands
WI wa s sspns
Evcrybody remembers how tho sudden advent Of
Northern men with goods to sell to tho Southern cities
Immediately after the close Of tbs War led the
parers with Advertisements and made Southern neWs
papers IN excellent property for year or two. Then
s.. ns Nov ohsago. presens
Goods wern sent out here in immense quantities
Afses tie hre, and brink bnsInets done, chiefly on
evitablt. ''e'
Dc MT voueh @ for tae truth Of tho assertion now
teceding from tho nhore. It nunt ultimately recede,
for geology teaches that in time the great lakes viii
nearly disappear .na that nver. which will be, III
.ce tss ~ ~. 'u1 r ~. "l ake thelr
fuura Of thu citv In d.rE insca ae"sng 0hiea9o, thS
need to hlys trustworthy scientific evse"se o,a
f,eleve that tho aubadence of lhs watsr il snyhna
mora than temporary. AA"
LET Us plcK THIS 70 p1Ecya
paragraph by paragraph. The gtet of tho first,
10 sns' our second CROWN "aH .ofcea instead OF
natural, and that 1t WILL therefore Soon decay.
II IL natural that supply should coincide with
demand. After the fre thore was IN urgent
5aro.ra sor ,,,i,s. -, ~, .to-ox T. oa,s. 6o'.s
:. ~. ~. .4.o ~ no" 49, oopona' TO
~ 'ne s.orea went up. "hat CROWN oou'd DO
moro natural7 The New Chicago Is not tho ze-
Bult Of = monster contract to put up = city to
prder Il has boen huilt hit hy bit. an Individual
t,pd. .ovnor. ..w . ,hono. to ;r,,rovs +toir ,ro,~
%" 'iauSo !" "ne4 oso t"'''1 Aop