, 1876-12-22


hot weather, or to ship to Europe by the slowes
| route They cay 1t has been well cured,
| and would inspect No. 2 here with
| out question If it were not knowr
| to be Of the crop Of ls7G. One operator reported
| that he had just completed sale Of IS, 600 bu o
| this corn ut relatively low price, to pass Phla
detphia inspection ~ fit to ship to Europe By salt
| He knew that the corn would stand this test; bn
| would not pass as No. 2 in Chicago. Now, thit
fact suggests it IL be just possible that corn in
/ spectfon is something like the coored gentleman,
who was upright in his walk that he bent oyel
backwards. There is no use in lowering grades to
point where shippers will refuse to take this grain,
and It is equally unwise to interpret the rules at aI
! impracticablc altitude. The one cuts down ship
mcnts, the other destroys the volume Of re-
ceip5. Its claimed that more liberal construction
Of the rules would bring vast quantities OF corn here
this winter, the higher freight rates eastward
form in inducement to hold the corn in the West
J till the season Of navigation opens. 1t il
| claimed also that If our present method be
adhered to very little OF that will come here.
/ The point is one in which other parties than the
warehouse proprictors have an interest, and ought
to be we'll considered by both parties In the trade.
The desirable thing is to bring ell the here
that BE- attracted hither, without providing fos
the cry Of shot corn" when the warm weather
comes.
THE MARKETS.
The leading produce murkets were moderately
active yesterday. and irregular. Provisions were
rather tame. and easier, wheat WIS stronger,
corn, rye, and barley tended downward. and oats
were steady. The trading was chiefly for future
delivery, the shipping movement being Sow, Us
prices here have not yet declined to extent suf-
ficieut to counterbaancc the advance In freight
rates.
The dry-goods trade was fairly active in several
departments, and the days sales made pretty
large aggregate. Prices Of staple cotton produc-
tlons showed decided strength and an advancing
tendency. In the grocery rarket no importsnt
changes were apparent There was liberal in
quiry from The country trade and about the usual
demand from local retailers, aud the market again
presented steady tone, Butter was in good de-
mand, aud commanded fully previous prices.
Cheese remained quiet, with values firm and TN
changed. The movement in dried fruits was only
fair, and prices were not subjected to any 9ppre-
ciable change. Fish remain quiet, as is to he ex-
pected ut this stage Of the season. No changes
developed in The bagging leather, coal, wood,
and tobacco markets. Oils were quiet and
changed, carbon, linseed, lard, and turpcntine
ruling firm.
Lumber was in moderate demand and steady.
The interior orders usually small, but call for
good deal Of lumber in the aggregate, and trade
OH the whole is equal to expectations. Hardware
and nails continue quiet Dealers report modcr-
atc Western demand for wool at the current prices
Broom corn and hops remain quiet Prairie hay
was III better local demand and firm, the offerings
being small, while timothy dull and easy.
Seeds were quiet. Tie offerings were small anl
the demand limited to few small orders, chief
ly for flax and clover. Potatoes were quiet and
steady. Dressed poultry and game were i'll gcod
local demand and firm.
11,s1 -A
being nut moderate demand at the advanced quo
tations. Rates OH grain 30c per 100 lbs to New
York and al1 points between that city and Albany;
:}ic to Boston and common New England points;
&c to Philadelphia; and 90c to Baltimore.
BOARD OF TRADE RULES ON SUSPENSION.
To the Editor ef The Tribune.
CHICAGO Dec o1.-ln view Of the facts that the
annual meeting of our Board Of Trade Is close ut
hand that its OF incorporation specifies that it
may make such rules for government not
contrary to the laws Of the land; and that the pre-
auble in the published rules sets forth the ipculca
ton Of principles Of justice mud equity, one Of
the objects ot the association l wish to call at
tention to the operation of Secs. and II Of Ruc t.
Sec. Of Rule provides lor discipline, or sus-
pension of members, for failure to comply with
contracts. IT would seem, at first glance, no par
ticuar hardship for member to be suspended for
failure to fulfill contract or pay difference. 1t
il among the characteristics OF the trade that
dealers pay long as they have or can raise money
to pay WITH that it units them for any other busi-
ness, and the best engaged in it are liable TO mis-
fortune. These facts have had effect OF making
creditors liberal in settlement with persons who
have honestly failed 4 return to business, even
in crippled condition. beng the best thing for alt
Interested The custom Is for the party who falls
to make statement oI his assets and liabilities,
and to compromise his liabilities or get ex1en-
sion. included generally among assets claims
against those for whom business has been done,
winch, US i rule, are good for nothing The trade
will confirm my opinion that u debtor generally
pays a1l he has to compromise or promises FOR
M extension more than he should. Creditors gen
erally accept; but, there il no rule governing
Euch settlement, creditor in any number may,
by +, suspend the debtor indefinitely, or force
Justice other creditors; may prevent resumption
Of business IN detEinient ol creditors generally |
and with no benefit to the association, the trade.
or himself. This is unjust to other credit
ors, and seems to me contrary to The spirit of the
laws controlling bankruptcy Resort to u Court of
bankruptcy does not help the NATTER Us by Sec. |
does not restore the privileges Of the Board |
if complaint is made before discharge is granted;
a}thuns Ii the discharge releases from al liability
for tie debt. This seems to conflict between |
the rnle* and the law aud should be glad 10 have
it discussed.
the Board un immense amount Of business i'll hear |
iny complaints by captious creditors, who by |
these rules enteavor to force collections OF money
where there IL no money: or to force preference
Us creditors, which would not be allowed by law; |
and iu manner which, is of no benefit to the Asso-
cation or trade. Equity and Justice demand that
the rules be amended that, il purity proves him
sell honestly bankrupt the majority Ut creditors |
in numbers and amount should control the settle
ment Of his liabilities US is done in bankruptcy;
and that discharge in bankruptcy should restore |
the privileges Ut the Board Hoping to see this |
III after fully discussed am. respectfully, ].
PROVISIONS.