, 1877-08-12

TWO Or three preceding oaSs- olAscre in far de-
mand at unchanged prices. ..
Hogs were fairly active, and firm a.S4 75n5 10
for common heavy to choice light. Sttle we're
quiet and unchanged at S2.50G5.75 fo, ,common
to ext1n grades Sheep were quoted eeadv at
Sc. 5OO4. co.
Lumber was unchanged. There was less 11afno
at the docks, which was probably owing to the ct
that the day VIVA Saturday, but the Gales made We,
at the old prices. The yard dealers reported IN i'm
proved demand aud better feeling gcnernly-
many believing that the dull season was over. The
WOOL, hay, and hide markets were unchanged.
! Seeds werc more active. which OF course means
timothy and clover. The offerings OF the latter
! were large and the market weak in consequence,
while timothy was tlrrncr. The demand for broom
! corn is improving. Poultry sold more readily at
lower prices, except fine fresh stock. Green fruits
were again abundant and met with fair local in
| qairy. Berries, which are becoming scarce, we're
drmer, md other varieties Of fruit generally
brought former prces.
Lake frcishts were rather qpiet and nrmer on the
bass Of 31:e37ic for corn By rail to Buffalo Room
wns taken for 8. 600 bu wheat, 1926, coo bu corn,
| Is, QUO bu oats and o6, 600 bu ryc.
Rail freights were firm at previous rates. Grain
| was quoted at Soc per 100 lbs to New York, and
Soc to Boston and New England points. Rates on
boxed meats we're quoted at &c uboyc grain figures.
GOODS RECEIVED
| at Chicago Customs Aug. IL: Gould Bros. &
Dibblec, cask tiles; Steele tt Price, case sta
tionesy; Burlcy i Tyrrcl1, 45 pkgs earthenware,
20 pkss glassware; John ". Wills; l3 cases choco
late, cocoon, etc.; stcttauer Eros, l. Co., cases
dry goods Amount collected. SO, 54s. 50.
WAR CHANGES.
The following IS an extract letter from house in
London largely engaged in the Odessa trade:
We received your cable. and notice the great d!1er
loFmcd thai there Is law In your stase uaaer wnieb
ssr y n9t compelled to deliver aLn
aai s. steS ss,ls
Pss Te s oe nsss
We must now look for other poycnt for our steam
iii f s. So
Ne ses e on GsE Ics2 NJ
re er o de snp Of the Y;
poztation to either place and port. charges
Ao4AD OF TRADE RULES. 49,.
TO the Editor Of 7ke Tribune.
Chicago, Aug. 1l-Hany dealers on the Board |
Of Trade have lost heaviIy in their spcculatons by
reason OF the decline in prices since the commence
ment OF the Eastern war, and naturally enough |
these parties seek to charge their losses to some
bMJ Or something other than their own want Of !
good Judgment ability to discover aud net in ac
cordance with the signs Of the times and the |
bountiful benefacuans Of Providence. Forgetting |
that under the rules Of the Board OF Trade land |
largely as the result OF short sclling) d year ago
wheat advanced Soc per bu, and only few months
ago it advanced from 81. 80 to 81. SO, or SOC per
bu. they now hold that these same rules are |
charseablc with the decline in ralues; and COM
corners" induce ''scllins short" to such cx-
tent as to frghten buyers from Chicago and unduly
dcpress prices hence the effort to Iepcal said rnlc
W. corners. This writer acknowledges that prices
Of property (prosislons as we'll as grain) some
times temporarily severely depressed By short SELL
ing under the rules Of the Board. But he does not
admit that thew DHrnaunDf1v dnnrqSsnd Hc |
claims that prices in Chicago taken the year through
are much higher than they would be II there was
and in this opinion it Is believed three quartcrs Ut
the members Of the Board concur. The fact that
prices arc depressed for cash property i9aqsss
u say that hnycs are frightened away by low
,rces; they surely como here when this is the
relatively lower here than elsewhere, inmediate-
y tal!5, and Rapidly advance under, the
bo es. s s sP Ss.na and oso
icing the most urgent and affective. t
lhe 1s recent decline sn prices is 70 more charge
'ance in prices only few months ago, before the
td0ption Of the now so-called rulc IS. corners. |
The entire trade herc and in the country were sub
cct to and suffered disastrou. consequences e-ery
low and then from some insane attempt on the |
'art Of reckless and nnsctnpnlons operators to
or1ler OF control the markets. And the very rule
Mediate result of outraseon. acts by dealer who
ow would do away with the rule that has upon
III p&oseH well AGNplCu ~ prevent Inc recurrence
4 such acts. The part Of the rule specially OBJ !
ectcd to reads as follows:
Il is hereby provided that in determining leeitl-
nate value OF rorcry iu cases OF dispute. Its value in
larkef. together With such other may Justly
nstdcred, Irrespective of any fictitious pJicr it may
the time he selling for in this market.
The ooject Of the rule was to promote and pro- :
sct legitimate trading and to prevent the selling Of
leh property below its legitimate value, for The :
urposc OF avoiding payment Of just damages. as | |
ell as to prevent the running Of corners for the
utporc Of c1actiAy cxtortionate damages Ncrer |
the history Of the Board have the transactions
q Change been so extensive and business so free |
oaa friction during like period as since the +
1ontion Of the above rule. ] b
Its repeal would mean reinstatement in power OF
nscrupulous operators, who. to promote tacir | i
sn interests would one day sell property for 20 =
# cent lcss than value and another pay 20 per
mt in excess Of value. OF course this rnIe like
any good laws, is snbjcct TO abuse and crils =
,re resulted the7efrou,: but the ABUSES and evils
~ be aycrted BY slight notifications Of anoihcr
lle- and by Use Of the proper remedy provided
; the rules to lesscn oyertrading. which pre- II
ai}s to an alarming and disastrous extent With $
7ur PERMISSION this subject will be continued in
othcf communication. Respectfully
COMMISSION DEALER