, 1877-04-09
Grand tota cwn ~. go 413 81. +c3. 33 81 307a, :n
CONFIDENCE GAME IN rnopucE.


N ihe Edltor of TAs Tribune.
cu1cAuo, April 7.-Undef the above caption an
article In this days TRIBUNE calls attention TO tho
Importance o! tho tgood men Of the Bosfd Of
TRADE" Insisting that = member who falls and
does not pay 100 cents on Tho dollar shall not 10
roaamitted 10 trade TIL after hss accounts have
been examined and approved by all appropriate
committee Ut the uoatd. most heartily tn1ossc
the object Of tho article, AMI feel like urging tho
proposed action, and, with your consent. will
avail myself Of tho use OF Jour columns for that
purpose. But first allow nc 10 saJ, "thc good
men Ut tho Hoard" hare made = movement
tn tho direction you nuggest, and they
haso provided set Of rules for thc
Association which, II nppllod by parties to
to contracts for tho ssla and purchase of property
wuuld mqst s1eetualiy prevent ovcEtradIng, both
in the why Of sclIn8 shnlt md buying loRy. Tho
rules rtoylao n9t only for 10 rst cent 1nsrs'n on
good on the @arkti, rnev 70 .lat Il grain i sold
drf i she ruies 10 te9nired 10 depost 10 csnti per
bushel ~ sccufity Tor ths fnlhilnent Of tho con.
tract aa n ease of a. .ayanse ,a y shs marks;
margins 70 HE extent Of The adysnce In tbs mar.
krt; and, III the uvcnt Of = decline In tho market
bmycr for adi,!ons dopo.,l4 ut margins 70 tho ex-
tent us itla Decline Thus It sccths tho rules
proyds fu'l protection to beth baysf ana ssl'gt,
Ru1cr loss BY The failure of tbs other. The rules
bers. as indlyIduas aro in faull, and aEs not eu.
et 70 nss's Il tsy 's :. The ~!
ts os eseo ps., Ia nv sss ea G
mnrRns. the rules provide 10 may do; for every
member. every n,eie'ant has ths right to decide
give credit, au rule Of tho Hoard Ut Trade and
M law .! tho land Should prsvent man tram buy.
1 ws II is a % r. rs .ei!!nxi III IT, *s III
huyur and sei!tr tho opportunity to test each
oshsr. abtlity 70 carry oat theis contrasts better
II iii. tals, W. hear eyusy now sMi then
Of failures On 'Chauss sxhch. BY .he way, asu
failing offer 1O 10 20 cents the dollar, anil ncxt
to h. heard from then, that thu sans parties uru
hundreds of thou.ands of bushels of grain tor
future delivery. and III thel. control Of the market
e5stei.e an taasnes 1eyona ttas "f othes dealers
years. and stu we'll known for tho c1tcnt OF theft
ta.lpsss md tos thsif ZOO, tsPu,s .na iot sher
vance shs commercial Interests Of sha city.
a.nY Rattss ~, I'D s.s swhoAs any es.Hna
IL; e.a :aa & as 81 81
twice, but many tluaas repeated, until the habit
OF sueh settsmsn&s snd compromises haa become
THE BANR OF TIN HOARD,
Aen styling themselves asst.class commission
merchants seek custUlnsfs, TO whom they offer u
o. es.ns.. fur hat r. esai;'lens .nl
missions they induce paslaes dung business with
| good houses 10 engage III Corporations" on tho
Hoard uf Trade. 4 sudden although sitght turn
| In Tbs nsstkst comes, and moru aud unexpected
margins xro called for without sesponae. and The
cppttsets sfu closed. Or II tho change ID pftcrs il
large lna opesatoF tsllt ana shose who 10 10 bu..
ncis arc 'tstuck," aud they In turn stick tho
prudent 6Eus who hA&a ba1 their bu.k.
meas taken from them ~ these very Arms.
rnp ne1k thing In tbs ordinary ofrr of exercises il
the circulation VI paper co1atptnx sn Agtss,re1t
10 accept compromise Of ~ to .uc un Me dollar
With view u enabling the PARTIES 10 continue Ii,
busluess " shat they nay Eain whefaWith ~ support
thslr styla ot living. which i i s1pcstsA 10 ~
done In she manner before mentioned. This per
ntcoua policy Of settling With paFtts. failing With
out IN e1AuIlnation Of sccount4 aud eooks and ef
shs naaaaer e{ tfotAg bustntss should at once be
discontinued, and NO ona who has failed
should enjoy the privileges Of tho sssociatton
aud much lcss act ~ IN official ~ long - etatm
resulting fEoin failure nFa Unsettled. II MeMbes
failing has been doing business In - recklss. way
unworthy Of e.r.ilt, theS shoud be tr9ated quito
l!ucErnily from thusa whu hovo pursued N hoAof-
| able course sAd ha4c failed frpm mtsfoEtunes not
To % fofGseen 0r provided against No one deDle4
doubts Ihe Ill cIect* of oyrEtrxliug whether In
real estate, IN Change. " e:tewhets. hut Ia no
Elacs Gun It BE- p1s.entsd easily on The nosf1
uf Trxue ubdcr the exsttus rules Gf that holy aud
IN no place the evil severely !clt. VIII 1au
good AeR Vt tbs Bo4s4 Ut Trade ~ tn1iyiduals ap.