The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1881-07-02
CHICAGO BUSINESS.

CHICAGO, July 1.-The weather this week
has been cool and good for business,
but rather slow for crops. The
bank clearings keep up well and are a fair
indication of the growth of trade and the
rapid strides which the city is making as
| commercial center. The clearings for five
days of the week are nearly $6, 000 900
greater than for the entire corresponding
week last year, amounting to $50, ,000,0 900.
For the six months ending yesterday the
clearings exceed those Of the same time in
1880 by $135, 900, 900, a record never be-
| fore equaled The amount of building go
ing on is so great that the contractors are
constantly in fear of a strike by the labor
ers, not mat the latter are underpalG, but
that they are conscious of the fact that
they control the situation and can ask
their own rates. This being the case,
efforts are being made to swell the number
of artisans, and bricklayers and stone
masons are invited hither with the pros
pect of good wages and immediate work.
Contractors say there are really too few
workmen to build what is already project
ed, and new buildings schemes are con
stantly springing up aDd are
calling for more help. The tide of
travel, trade and population sets so strong
ly hither that everything is taken as soon
| things is encouraging to landlords and dis
couraging to tenants, or would be but for
the fact that they are rushing business, 1t
las nevertheless deferred several firms from
coming to Chicago to engage in business.
Lumber dealers are not slow to realize the
situation and take advantage of it, So at
their meeting this week they advanced
prices from SO cents to 81 per m. on all
classes of lumber As the receipts are
heavy at this season and freights are COM
paratively cheap, the step is significant as
any of the great demand for building mate
terial Eastern exchange was weak to-
day. selling at $50 per thousand discount.
Currency is scarce and being ordered from
New York Money is wanted badly and
rather firm at to 5 per cent on call and 6
to Z on time, with gilt edge security, local
securities are very firm and generally
advancing. City fours have advanced
to 81. Grocers are moderately ac
tive; sugars rather easier; coffees
firm; teas, rice and syrups quiet and
unchanged. The fruit trade is steadily in
creasing and prices are stiff for fresh and
dried Dairy products are generally pretty
firm, but cheese is weak under heavier re
cepts. On Change there was a steady
feeling, with prices for wheat tending to a
lower point and corn and oats firm with an
upward tendency. Pork is easy without
life OF movement and lard is much firmer
with the hardening especially noticeable in
cash and the nearer options. The weather
has undoubtedly been unfavorable for crops
in some places in the northwest but the re-
ports and so conflicting that they contradict
themselves From one section will come
in a tremendously bullish report of rains,
floods, hail and tornadoes, which have
destroyed the whole crop of wheat, corn
and oats From another town in the
same locality will be reported drouth,
chinch bugs and rust. The operator in
charge finds difficulty in deciding fairly
between the two and looking the whole
ground over he concludes to wait before
entering heavily into speculatio1r4 The
general and best digested opinions
seems to be that the crops promise well as
whole; exceeding well in places and
below the average in other places. The
sales for the week of the August option
were made as follows; Wheat, 1870
1458; corn, 44s(046s; oats 27s(d2Ss; pork
Is 30(016 80: lard II 023Qd11.371, Wheat
closes at the inside corn and oats nearly at
the outside; provisions, medium prices.
The receipts of grain for the five days
or the week were simply i'm
mense, aggregating over 100000 bushels
per day The reports for once fell far
behind, being less by 100000. The
receipts Were 5,270,00O There was ali
excess Of rsseeiiSts rsseiStss-o e,ssr The shipments in
every article. There was in reality too
little accommodation in out going vessels
and trains for this immense bulk of grain
Freights by rail and wave continue to be
weak, however, and there is no sign of
any abatement in the railroad war. Ship
pers on the CONTRARY predict lower rates
in future.
The demand for brick layers and stone
masons is so great in Ethe city that wages
have advanced from So so to So rs and "a
per day. In order to complete the large
number of great manufacturing business
houses and fine residences in course of
construction and still projected, more men
will be required this season.