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FINANCE AND TRADE.
A Less Active Market for Govern' ment Bonds. Strong Demand tor Discounts— A Weak Stock-Market. The Produce Markets Steadier, with Rather Less Doing. Wieat and Pork Pinner—Stocks of Pro duce—Movement of the Week. FETAIfCIAL. Purchases of. Government bonds were of small lots, and those, of conrse, almost ex clusively 4 per cents. The 6 per cents are being exchanged continuously lor the 4 per cents. The market was weak. The 6s of 1881, which cannot be called, are steady at 100%, the 5-20 s of ISO 7 were off %to 101,% and tie 5-20 sof ISOS %to 102. The 10-40 s were unchanged at 104%. The new 5s of ISSI dropped 1% to 104% and the new 4%s auvanccd % to ICO. The 4 per cents have been marked up to 100 bid and 100% asked. The Assistant Uniced States Treasurer at Chicago is nofc paying the interest on Govern ment bonds in gold when it is wanted- The entire February interest will amount to $6,- (XX),OOO,' and it is expected that most of the bondholders will prefer greenbacks to coin. Gold is not in active demand. The brokers re port small sales at 100%. Offerings ot bills drawn against grain and provisions in this market are very light. The scarcity of cars interferes to such an extentwith shipments that parties here arc unwilling to ac cept orders from the other side, for fear of not being able to forward the stuff. The market was weak, with a very light supply and demand. Sterling grain and commercial bills were 432%' French bills were 522%. The actual rates for sterling were 454% and 437%. The posted rates remain at 4Ss%‘and 453%. Bankers’ bills on Paris were 519%.uud 510%; commercial, 523%; Antwerp, SSO and 517%; commefdal, 523%; Kcicbtnark, 95 and 95%; commercial, 94%; guilders on Holland, 40% and 40%; commer cial. 30%. Consols remain at 905*16. The Chicago oanks hail an active day on ac count of the Board of* Trade settlements, al though there was not as much done as had been expected. The closeness of the money market Jed some operators to defer their settlements till Monday. The demand for loans is principally from the Board of Trade. Kates remain at 8@ 10 oer cent- Currency orders and receipts have been light, and the country demand for New York exchange has been only moderate. The clearings of the Chicago hanks for the weeK are reported as follows by Manager D. K. Hale, of the Chicago Clearing-House: Date, Clearings. Balances. Monday Tuesday.... ■Wednesday Thursday Friday . . Saturday, Total $18,696,603 $1,613,432 Corresponding week last year 18,092,295 1,835,063 A quarterly dividend of $2 per share from net earnings has been declared by Pullman’s Palace-Car Company, payable on and alter Feb. 15, to stockholders of record at dose of busi ness Feb. L Stocks were dull and weak. The closing prices were at or near the lowest figures of the day. Dealings were restricted, and the feverish animation of die preceding days yielded to a natural dullness. The inequality in the prices of investment slocks is worth attention. New York, New Haven & Hartford Is a 10 percent stock, and sells at 100. . Harlem (warranted by the New York Central & Hudson) earns 11 per cent annually and sells at 147@150. Bur lington <fc Quincy, which pars S per cent at 100, sells at 117#. New York Central pays 7 per cent at 300, and sells now at H5@116. Hock Island is understood to be earning 16 per cent and dividing 10 per cent, and sells for only 126 <£'327. ; , The opening, highest, lowest, and closing prices of stocks for the day arc given below. New York Central declined from the close of Friday from 136# to 115#, Michigan Central from SS# to BS#, Lake Shore from 72# to 72, Northwest common from 60# to 59, the pre ferred Irom S 3 to 84#, the St. Paul common from 42# to 40#, the preferred from S 3 to 82#, Hock Island irom 127# to 126#,*Alton from 86# to 80, Erie from 26 to 25#, Wabash from 23 to 22#, Ohio 6c Mississippi from 10 to 9#, C., C., C. & L from 45 to 44#, C., C. & L C., 5# to s#, St. Joe preferred 38# to 3S#, Delaware & Hudson 42 to 41#, Lackawanna 51# to 51#, Jersey Central, 43# to 42#, Western Union 101# to 101#. There was an advance in Illinois Central from ST# to ST#, in Union Pacific from 65 to 67, in Canada Southern from 55# to 50#, in Kansas & Texas from 6# to 6#, and in .Kansas City & Northern from 8 to S#. In railroad bonds, in New York on Thursday, prices, with few exceptions, were again higher. New Jersey Central adjustment advanced to 31#; do consolidated firsts, assented, to 81#; do convertibles, assented, to 81#; Lehigh & Wilktisbarre consolidated, assented, to 45#; St. Paul consolidated sinking funds to 103#; Chi cago, Burlington & Quincy Ss to 111; SL Paul firsts to 125#; Pacific & Mis souri firsts to 108#; Denver <fc Rio Grande firsts to 92#; • Hannibal & SL Joseph convertibles to 107#; Canada Southern firsts to 78#; Ohio 6c Mississippi seconds to 85; Union Pacific land-grants to 111#; Alton 6c Terr? Haute incomes to 44; Great Western firsts, ex-coupon, to 109%; Missouri, Kansas <fc Texas consolidated assented to 51%; .Michigan Central 7s to 117, and do 8s to 112%. Toledo & M r abash consolidated convertibles, ex-coupon, fell off to 73%; Cincinnati & Springfield firsts, guaranteed by Lake Shore, to 97, and do, guar anteed by C., C., C. & 1., to 91%. Northwestern gold bonds were 106% and St. Paul Sinking Funds 103%. Tiie coDoection between the stock market and the money market is an intimate one. The fol lowing from the New York Sun gives some idea of the accumulation of capital at New York: Never before iu toe financial historyof the conn* try has there been so great an amount of accumu lated capital at tins centre seeking investment as to-day. Call loans are 2 and 3 per cent on slocks and I'and 2on Governments. Sixlyand ninety day loans are made at 3 per cent on stocks and at I*4 and 2 per cent on Government bonds. Prime mer cantile paper is discounted at percent, ac cording to date of maturity. Money is flowing into New York banks at a rate which is anything but flattering to the abilities of its owners. The aggre gate deposits on the 25th of January. 1879. snow an increase of $7,310,000 over those of the corre sponding date in 187 S. The bank statement of last week shows the came tendency as that referred to above, In an increase in deposits of $4,238,000. Mr. W. L. Scott, of Erie, who conveyed to Commodore Vanderbilt $10,000,000 ol the $15,- 000,000 of the stock of the Canada Southern, corrects the statement recently made that the fixed charges of the road are $420,000 per an num. Of the $14,000,000 of first mortgage bonds, $2,000,000 he says arc reserved for • equipment and for the general purposes of the Company. The Company is, therefore, -liable for 3 per centum on $12,000,000, or $300,000 per annum. The application of the reserved bonds to the purpose above mentioned leaves the earn ings, after the moderate interest charges, for dividends on the stock. Since Sept. 1 the earn ings of the road, after meeting interest charges,* have equaled nearly 6 per centum on the gross earnings being at theraOTof about $3,000,000 per annum. A dividend is to be ex pected according to thi*fc«rUioriiy in June. Atchison & Tppeka advanced In Boston on to SS%, but reacted to 89*4, and closed at a%bid. Atchison <fc Nebraska sold % higher, at 35j£. Kansas City & Topeka rose %, to 91#, and closed at 9i#@9l%. Kansas Pacific rallied #, to 6#, and closed at G@G#- advanced& to6Q#j@SL Buridngton& .$ 3,227,485 $ 285,150 3.008,808 207,390 2,770,056 193.809 214.532 302,263 410,260 2,505,038 2,728,147 4,390,443 United States Bonds—'’67s, 104; 1040 s, 107; new ss, 107; 4%5, 110. Amount of bullion withdrawn from the Bank of England on balance to-day, £I,OOO. Pabis, Feh. L—Hentes, Uof 80c, cx. inL Latest quotations for February delivery on the leading articles lor the last two business days: Jfriday. Saturday. Mesa pork $ 0.37*4 $ y 4'» Lard... G.:;2>/, G.:V7V, Shoulders, boxed. 3.52*4 3.52*4 Shun ribs,boxed. 4.50 4.50 Whisky I.o* 1,04 Wueat 85*4 sr»j£ Corn . 30 % 30'i OaU* 20 20*4 live *•. 43J4 43*4 Barley 84 83*4 Live boss 3.25 ©3.75 3.25 ©-3.75 Cattle 2.40 @5.25 2.5 U @5.25 The following were the receipts and ship ments of the leading articles of produce in this city during the twenty-four hours ending at 7 o’clock on Saturday morning and correspond ing date twelve mouths ago: RECEIPTS. | SUfPMEJfTS. lU7H. J 187 S. I lb7u. ». JB7S. Flour, brU.... 13,837; 13.702 10,73*! 7.137 Wheat, b 0.... 86,230 72.634 M3.777\ 81.203 Cuni. b« SI.S:W, ■ S4..VU. 43.•124} 21,0 M OaU, bu.i...., ' 24,557 i 33,972- y,7U7 bu 4.446 2,S<w! 392 Barley, ou 10.735' 13.130. n.13-»i 7,850 (inussaced. lbs 81.71*) 249.371 .13I.UXS 81,332 F. FeeO, 170 258,230- 23.r01l 47,740 B. 1b5....| 76,«0030.21U1 6W C. meats, ib5..11.423,023; 401,176 S, CUT. 3,560,854 Beef, les i..... 1 :j .515; 10‘J Beef, oris I f II -in* 24 Pork, brls 326; 70 ; 427 li5(l Laid, lbs 620,8401 445,5ar*1.4!1.540 590,930 Tallow, 1b5.... 135,3.*! t*- 30,4*0 KO.OUO . 8(0 Butler, lbs... 142,537] 110.732- J>. hOES, 50.,, 1,262' 3.127; Live boas. No. 50.U54 36.723 3.7:*j: 3,244 Cattle. 3.5*58 1,508 3,818 . 2,843 i>hrep. No 2.035 I3f 2,:«4 k« Hides. J1M...,. 131,676 142.040 | 2U9.67p! 140.4:5 Wou. lbs 2.UV) 46.878, 70,593! , 52,450 Potatoes, bu.. 2;1I7 "O'*. 3371. Coat, t0n5..... 7,401 4,106 L 713 972 Jlav, tons 160 1391...;.. . Lumber, iu ft. .493 118; • .032 82'* i bliluklee, in... 7»5 . .04« .....57; Salt. bru—..-. 1,086 ' 2.20 1 4,044| Withdrawn, from \store during Friday; .for ■ city consumption :T,754 bu wheat,* 808 bu oats, * 1,003 bu barley. The following grain was Inspected into store Missouri Railroad rose %, to U6J£@U7. Chi cago, Cliuton & Dubuque sold aud was offered at 59. The gross earnings of the Hannibal & St. Joseph Railroad Company are reported as fol lows; . . 1878. 1873. Third weekof January..*29.644 *33,120 Inc. *3.476 Jan. Ito Jan. 21 31,467 ui,340 Bee. 127 The following were the fluctuations of the active stocks for the day: Stocks. Opening. Eights t, JjOUXSI. Closing. N. Y. Central. ...UGH »1155£ Michigan Central. 8814 89 88 *BS?4 Lake Shore 7214 7214 713£ *72 C. iN-Wcstern.. 00!* COS 59 *59 Do preferred. .. 85H 83=4 81? S *S4?4 M. & St. Paul.... 42 42 4014 *4o’i Do preferred 8314 8314 824 *8214 C.. It. 1. *fc Pacific .12024 12714 12014 12014 Illinois Central.. 88*4 8814 8754 *S73i Cbicaeodt Alton.. SO ... 86 Union Pacific. .. Erie G4H 2«‘4 2GH Wabash Railway. 2214 22 a 2214 2214 Ohio & Mias 95£ 914 9?4 9J4 C. C..C. <6lnd.. 46J* .... .... 44?, 0., C. il. C..... 3S *"« H. & St. Jo 1414 1114 1415 1414 Do preferred...,. 383£ *KJ Del. & Hudson ... 4114 D. 5134 SIS SOU 5114 >*, J. Central 44 44 42?> 421, W. Union Tel.. ..10014 10114 100 *lOll4 A.&P. Tel 3814 08 Can. Southern... 5014 5C>4 5614 5b?4 Kansas & Texas.. 014 614 6!4 J*}* St. L..K.C. *N.. 8?4 814 S!« S!4 Do preferred 3614 37 3614 3614 * Sales, com QUOTATIONS. The following are the quotations in currency in this market of coins, bought and sold: Trade dollars New (412*4 prams) d011ar..... Mexican dollars, old and new Englisn silver Five francs Thalers. Euslish sovereigns. Twenty francs....: Twenty marks Spanish doubloons. Mexican doubloons Gold and silverdollars were 100% in currency. FOBEIGN EXCHANGE. Sterling Delgium France Switzerland.... Germany Holland Austria Norway 5weden........ Denmark GOVERNMENT BONDS. IT. S. Os of ’Bl (ex. int) U, S. 5-20sof '67 (ex. int)..... .. U. S. 5-20 s of ’6B (ex. int)....,' V. S. 10-40 s U. S. new 5s of 'Bl U. S. new 4'Mjß U. S. 4 per cent coupons U. S.-currency 6s LOCAL SECURITIES. Bid, Chicago 7 per cent bonds (10ng)...*109 Chicago 7 per cent sewerage (long) .*lO9 Chicago 7 percent water loan (long). *llO Chicago 0 per cents, lung.... .*lO4 Chicago 6 per cents, short *lOl Cook County 7 per cent bonds *IOB% Cook County 7 per cents, short,...*lol Lincoln Park 7 percent bonds *lO3 South Park bonds *lO2 City Railway (South Side) 165 City Railway (West Side) 171 City Railway (North Side), ex. div. 119 City Railway (North Div.) 7 per cent bonds *104% Chamber of Commerce sS*£ Chicago Gas Light 125 W. Div. Hallway 7 per cent cert's.,*loi& City Scrip Traders’ Insurance.... West Park bonds. •And interest. BY TELEGRAPH, NEW YOEk. To the Western Associated Press, New Yoke, Feb. I.—Governments steady. Railroad securities firm. State bonds dull. Stock market dull, and alternately weak and strong through the day. At the opening, prices advanced #@# per cent, but soou declined # to 2. During the afternoon there was a recov ery of # to 1# per cent, followed by a reaction of # to 1# per cent, and at the dose by a re covery of #to # per cent. The principal ac tivity was in Northwestern, SL Paul, Lake Shore, Erie, aud Delaware, Lackawanna 6c West ern. Transactions aggregated 156,000 shares, 17,000 being Erie, 16,000 Lake Shore, 5,300 Wabash, 17.000 Northwestern common, 17,000 Northwest ern preferred, 15,000 Sl Paul common, 5,300 SL Paul preferred, 26,000 Lackawanna. 11,000 New Jersey Central, 2,600 Michigan Central, 1.600 Cleveland. Columbus, Cincinnati & Indianapolis, 2.000 Chios, 6,000 Western Union. 2.300 Pacific Mail, :uid 4,700 SL Louis, Kansas City 6c North ern. Money market easy at 2#@3 per cenL Prime mercantile paper, 3(^4#, Sterling exenange, sixty days, at 455; sight, 4S7#. The weekly bank statement Is as follows; Loans, increase, $3,825,200; specie, increase, $1,201,600; legal-tenders, increase, $447,200; deposits, increase, $4,238,000; circulation, de crease, $131,000; reserve, increase, $591,300. The biuks now bold $17,877,300 in excess of their legal requirements. GOVERNMENTS. Coupons of 1881...106*4 New4s . 100 Coupons, ’678 1015* 10-40 s, ex. int 102 Coupons, 'CSs 102*4 10-40 s, c0up0n....105 Newss, ex. coupon. 1047* Currencies 120& New 4}4s 106*4 STOCKS* W. IT. Telegraph..lOi;4 c., C., C. *l. 4414 Quicksilver 12 INetv Jersey Central 42 3 4 Quicksilver, pld... 334g:Kock Island .. .. 12014 Pacific -Mail 31?4 St. Paul 40y Manposa... 10:i,vSt. Paul, pfd S 2 Mariposa, pfd Adams Express... 105 |Kort Wavne...”... 105 " ells, Fargo 4: Co. 98 Terre Haute .. ... 2Js American Express. dSKiTcrrc Haute, pfd... 1114 U. S. Express 4814 Chicago * Alton... So 3? N-.Y. Central ISipchicago &. AJt’n,pfdlo7 Erie..... Mississippi. 91? i-nc, pfd 4SU D., L. & \V Siv. Harlem...., 147 |A. <SP. Telegraph. 37 -M-.chiean Ccutral.. MB=>;Missonri Pacific 1U Panama 128 <C., li. A Q 118‘i Union Pacific 64& ; Hannibal&St. Joe. 3454 Lake Shore 73 [II. & St. Joe, pfd.. HBJ* Illinois Central... 8754 C.P. bonds 3U7‘/i C. & Pittsburg UftiCU. P. bonds 307J4 Northwestern .illij l'. P. Land Grant..mvl Norm western, pfd. 845 4 :U. P. Sinking F’da. 109 STATE 330.V05. Tennessee 6s. old.. 36>i Virgnna 6s, new... 25 Tennessee Gs, new. 25 (Missouri* .104J4 Virginia6s, 01d.... 25 | POREIGK. London, Feh. I.—Consuls, for monev, 965-16. American Securities—Heading, 13; Erie, 26%: preferred, 49%. COMMKRCIAXj. THE CHICAGO TRIBUNE: SUNDAY. FEBRUARY 2. 1879— SIXTEEN PAGES. in this city Saturday morning: 4 cars No. 2 winter wheat, 2 cars mixed, 13 cars No. 3 hard wheat, 71 cars No. 3 spring, 103 cars No. 3 do, 14 cars rejected, Icar nosrade (90S wheat); 3 cars yellow corn, 60 cars high mixed, 17 cars new do, 33 cars new mixed, US cars No. 3 corn, 8 cars rejected (334 corn); 18 cars white oats, 10 cars No. 3 mixed, 5 cars rejected (33 oats); 6 cars No. 3 rvc; 2 cars No. 3 barley, 3 cars extra do, 4 cars feed (9 barley). Total, 490 cars, or 305,- 000 hu. Inspected out: 27,093 bu wheat, 34,183 bu corn, 2,379 bu oats, 7,821 bu barley. The following were the receipts and shipments of breadstuff* and live stock at this point during the past week, and tor the corresponding weeks ending at date: Feb. 1, Jan. 25, Feb. 2, 1879. 1879. 1878. Receipts— Flour, brls .. Wheat, bu.... Corn, bu. Oats, bu... .. Bye, bu Barley, bu.... Dressed hogs. Live bogs, No Cattle, No ... Shipment*— Flour, brls.... Wheat, bu.... Corn, bu Oats, bu .. ... Rye, bu Burley, bu ... Dressed hoes., Live hogs, No Cattle, N 0.... 25*4 »25i5 The following: were lae exports from New YorkXor the week ending as dated: Feh. l t jan. 55, Feh. 2, 1879. 1879. 1878. .04.120 35,120 24,015 .511,370 072,510 802,035 .576,094 263,700 311,635 Bid. Asked. ,S 96 . 1,00 . 81 . A 79 34. SO Flour, brla Wheat, ba Corn, bu An attempt was made Saturday to obtain the consent of the Board of Trade to the appoint ment of a,committee.to consider the clerk ques tion. The Board vot.ed viva vocc on the matter, and the presiding officer decided that the propo sition was not carried. He was undoubtedly right, but the fact only furnishes another to a long list of instances which prove that the viva voce method cannot be depended upon to carry desirable measures on ’Change. There are many on the floor who seem to vote always on both sides of a question, and if the order be given to divide the bouse, they form a solid co hort in the middle, which will not permit the presiding officer to tell where the sheep end and Hie goats begin. Under such conditions one might be tempted to advise a reform in the method of submitting mutters to the Board, but that such a proposition would probably share the fate of the rest. And it is of no use U lay the sin at the door of the poor clerks. The members, as a class, are responsible for the bear-garden style in which questions arc treat ed, though of course there are many among them who deplore the tact, and would remedy the evil if they could. The leading produce markrts were somewhat steadier Saturday, with not much change in prices, and less business transacted than is usually the case on the first trading day of the mouth. Most of the February deliveries seemed to have been already provided for, and there was no pressure to place property. One reason for this is the fact that the carrying premiums pay a profit ou the employment of capital which tempts it to remain in the produce trade. 01 94 65 • 70 4.80 4. SS 3.80 ‘ 3.00 4.70 4.77 15.00 15.90 15.55 15.60 Sixty davs. Sight, .. ...519% 510*4 ... . 4G . .... 27% Ashed. 106% 103% 102% 105 104% 100% 100% Bid. .100*5 .101% .102 .104% .104% .105% .101) 120% Asked. *llO •110 *lll *lO5 ♦lO2 ♦109% *lO2 *lO4 172% 121 *105% The demand lorstapleand fancy dry goods was restricted, but was quite asgood as thcrewasany' reason to expect at this time of year. Trices remained steady. Groceries were fairly active, and most lines were firm, sugars and coffees especially so. There was an easy market for sirups and molasses.* Teas, rice, spices, soaps, and starch were steady. There was nothing new to note in connection with the dried-fruit mar ket. Apples, peaches, prunes, blackberries, and raisins remained firm. The fish market was fairly active aud firm. Butter was again quoted easy. Cheese was firm lor fine goods. No price-changes were noted in the leather, bagging. •10554 97 ... 105 ...*lol2* •102# tobacco, coal, and wood markets. Oils were moring in. a moderate way at fully previous prices. The lumber market was unchanged. The sales were as large as on former days of the week, and no change was reported in prices. The wool and broom-corn dealers reported a moderate demand at the current quotations. Seeds were more active—timothy and clover— and firm, the latter being a shade higher. The sales of hay were light, and most grades were nominal. Hides were steady. Green fruits met with a fair inquiry, chiefly from the dty trade. Potatoes were quiet. • The car-lot offerings were small, and the retail demand continues light. Turkeys and chickens were firmer, aud other poultry aud game easy. The fresh receipts were light. Fresh eggs brought higher prices. The following figures were named for rail and ocean contracts: Provisions, Bags. Barrels. Grain. Liverpool 68*4 5714 $1.30*4 5S*4 Glasgow 7Ci£ 68*£ 1.58*4 03 Bristol 85 71?.£ 1.52 .... London 82# 6SJ£ L 52 63 Hamburg 83 85 1.70 .... Bremen SS .... .... ♦ Havre 99J4 .... .... Kail freights were quoted at the following range: . class. Grain. Flour. btef. hogs. To Baltimore. .37 .32 .64 .87 .72 Philudclpuiu.. .38 .33 ,G(J .88 .73 New Yowc ... .40 .35 .70 .90 .75 Boston ....45 .40 .80 .95 .80 Theschrs Naiad and Owasco were added to the list of chartered vessels Saturday, the two carrying about 44,000 bu corn. Engagements have been reported since Jan. 1 for about 50,000 bu wheat.' The demand for vessels Is small, aud rates are steady at 6c for com and 6#c for wheat to Buffalo. The stock of flour in this city on Feb. 1 was 77,181 brls, against 73,707 Oris on the same date in 1878, and 89,277 Oris on Jan. 1,1579. The Secretary of the Provision Call Board re ports ttoe stock of provisions in Chicago on Feb. las lollows: Mess pork, new, 158,100 brls; do, old, 20,000 brls; lard, 158,476 ics, On Feb. 1, 1878,123,911 brls new mess pork, 34,200 brls old do, 103,953 tes lard. The stock of mess pork in New York on the same date, 1870, was 57,459 brls, and of lard, 07,206 ics, against 58,931 brls and 72,788 tes on Feb. 1,1575. The following shows the receiots and ship ments of wheat at points named Saturday: Chicaco.... Milwaukee. New York. Detroit, Toledo St- Louis... Baltimore.... Philadelphia Total, Feb. 31.—Receipts—Flour, 10,725 brls; wheat, 110,750 bu; corn, 87,400 bu; outs, 33,350 bu; corn-meal, 404 pkgs; rye, 5,102 bu: barley, 180,222 bu; malt, 5.700 bu; pork, 3GI brls; beef, 3,024 tes; cut meats, 4,953 pkgs; lard, 4,788 tes: whisky, 1,458 brls. Exports—For twentv-four hours—Flour, 17,000 brls; wheat, 101,000 bu; corn, 01,000 bu. GOODS RECEIVED at port of Chicago Feb. I: R. H. Law & Co., C 3 casks grease; Elgin National Watch Com pany, 3 cases watch materia]; Fowler Bros., 115 sacks salt; L. Wolf Manufacturing Company, 18 crates earthenware. Collections, $2,870. HOG PRODUCTS—Were Ices active in the aggre gate. though a fair volume of business was trans acted, and the market was steadier all round, with more firmness in pork. There was no change m the British quotations, and New York tended down wards, while hogs at Stock-Yards were steady. There was a fair trading in produce on outside ac count. Thc following table exhibits the number of bogs packed at the points named since Nov. 1, IS7B. as compared with the returns of previous seasons, and the total packing of the season of 1877-*S: . ; , ~. . 'fatal • To date, To date, season Points, .*■_ ; IS7B. . 1878. 1877-’S. Chicago *.2.514;883 1,944,090 • 2,501,285 Cincinnati.i*.'• ** 592, - 554,472 032.302 St. LouJs.... . ♦575, 000-. 425,000 509,540 IndJauapoJis.... i>Ulwankee..i..i •; 396,733 - 277,:1U0 371,932 tLouikviiles 192,000* -275,000 -279,414 Rapids,.. 114,989 94.271 125,300 Des Moines 80,000 72,000 SO. 165 b&boia 55,280 31*360 40,376 , 63,203 48,730 71,090 ,216,103 222,230 069.730 327,000 313,077 324,102 , 137,70 S 145.926 192,020 . 0,043 0.410 2,728 . 06,806 60,184 73,748 , 5,170 7,530 2,227 36,510 28.084 9,132 12,771 14,295 12,522 > Flour , Fourth Dressed Dressed STOCKS. MOVEMENT OF WHEAT. JUceived. Shipped. SO. 230 777 . 41,100 39,-130 120,000 101,000 25,000 Ift, 000 13,000 00,000' 21.000 0(5.300 151,000 2ii. 000 00.010 .44LG90 4.08,553 iy sew youk Saturday. PROVISIONS. Kansas City... , 190.000 125,000 188,344 Atchison 60.000 Peoria 63 000 41,500 Cleveland 105,693 67,060 107,762 ♦Estimated. The following table shows the shipments ol product from this city dnring the periods named: Articles. Pork, brls..., Lard, tes Lard, brls Lard, other Dkgs.. Bams, boxes llama, tes Hams, brls Hams, pcs Hams, other pkga. Sides, boxes Sides, ics Sides, brls Sides, pcs Shoulders, boxes Shoulders, tes Shoulders, brls Shoulders, pcs .... Tongues, pkgs Hocks, pkgs Total gross w’gbt, lbs— Lard 7,889,078 87.057,321 Hams *’ 7,071,709 07,800,498 Sides....- .* *’****17,901,482 188,204,071 Shoulders Pork, brls Lard, tea Lard, brla Lard, other pkgs. Hams, boxes Hums, ics Hams, brla Hams, pcs Hams, other Dkgs. Sides, boxes Sides, tes Sides, brls Sides, pcs Shoulders, boxes.. Shoulders, tea .... Shoulders, brls... Shoulders, pea..., Tongues, pkga... Hocks, pkgs ... . Total gross w’ghc, los— Lard 5,532,728 75.8G9.242 Hams 6,084,894 40,263,502 Sides 14,0U2,860 142,503,086 Shoulders 2,203,183 20,445.425 Id its review of Jan. 30, the Cincinnati Brice Current says: “There has been a material falling off in the aggregate receipts of hogs the past week at leading Western points, botn as compared with several previous weeks, and as compared with correspond ing week lasi year. At Chicago the suuply has been well maintained, but other places, including some of the interior packing points, have been drawing upon the market to an unusual extent. The total uumber of hogs now pacuca at the six large cities since Nor. 1 is 4.595,000. or 1,035,000 more Umn to same uate last year, and 20,000 more than the entire number to March 1 last year. The total number packed during tbe past week is 250, - 000 head, which is the smallest number in any week excepting one (dimug the holidays) since the first week of the present season, aud is 100,000 less than the weekly average since Nov. 1. At Kansas City, packing is actively progressing, and the Ist of January estimate for the season has already been reached. It is reported that at Atchi son packing operations continue on a liberal scale, but we have no definite returns.” Mess Pork—Was irregular, advancing about 10c for March, and closing 2%c higher than on Friday. Sales were reported of 500 brls seller February at March at $9.43®9. GO; 28,250 brla seller April at 59.C2*4tfii9.72%; 230 brls seller Jnue at SIO.OO. To tal, 42,250 brls. The market closed at 59.42% for cash or February; &).52%'£9.55 for March; 59. 65 @9-07% for April; $9.77%(5;9.80 for May, and SIO.OO for June. Old pork was quoted at 87.00 (£7:25. Prime mess pork was quoted at $email@example.com, and extra prime at $7,25©'?. 50. Lard—Was firmer earlier, but closed a shade easier than on Friday. Sales were reported of 4.250 tea cash at $0.32 *4 @0.35; 1,500 tes seller February at $firstname.lastname@example.org; 12,300 tes seller March at $6.40©5.50; 12,500 tes seller April at §0.50© 0.00: total, 30,750 tes. The market closed steady at 5U.email@example.com for spot-or February; so.4oi*a 0.42*4 tor March; $firstname.lastname@example.org*4 for April; and $0.C0@0.02*4 for May, Meats—Were in very good demand, and gener ally firm, though quoted tame at the outlet. The trading was chicriy in local futures. There was, however, a good inquiry for shipment, and several orders were unfilled because limited below the views of holders. Sales were reported of 3,400,- COO lha short riba at $email@example.com for February, 54.45©4,47*4 for March, $4.55Q;4.G0 for Annl, and firstname.lastname@example.org for May; 230 boxes do at $4.50 @4.52*4 spot; 100 boxes long and short clears at $4.02*4; 25 boxes short clears at $4.75; 30 boxes Cumbcrlands at 4&c; 3,000 pcs and 100,000 lbs green hams (10 lbs) at sjjc; 50,000 lbs do (15 lbs) at 5;4c; 125 tea sweet pickled *hams at6@o?£c. The following were me prices ner 100 lbs on the leading cuts: Loos?, part cured. Boxed February, boxed.. March, boxed .... April, boxed Lou? clears quoted at $4.32& loose and SI. 47*4 boxed; Cumberlands. $4.7505.00 boxed; long-cut hams, 7*s©73£c: sweet-pickled hams, 6}i©7c for 10 to 15 lb average; green hams, .‘>?Xos£cforsamc averages; green shoulders, .‘^©OJ-ic. Bacon quoted at 4Vio4&c for shoulders, 4?i©sc for short ribs, s@siic for short clears, TJi&T&c for bams, all canvased and packed. Grease—\Vas cooled at sJs©oc for white, 4*4 ©sc for yellow, and 4©4‘,4c for brown. BEKF PKODUOTS—Were steady and quiet at $8.0008.25 for mess, $8.7509.00 for extra mess, and $15.75010.00 for hams. Tallow—Was quiet at tt©oKcfor city, and si£ ©Oc for country. BREADSTUFF'S. FLOUR—Was very quiet, except the sale of one round lot (2,000 bags) for export, and there was no material chance in prices. Sales were re* ported of 400 brla winters at 54.05©4.50: 1,400 brls double extras at $3.40©4.00; and 100 brls extras at $3.00. Total, 1,000 brls. The follow ing was the nominal ranee of prices: Choice winters §4.75 ©5.12H Good to choice winters 4.00 ©4.50* Fair to good winters ,2.50 ©4.00 Choice ilinnesotaa *4.50 ©5.25 Fair to good iiinuesotas 11.50 ©4.25 Fair to good springs 2.25 ©2.75 Lowsprings 2.00 ©2.00 Patents U.OO ©7.50 Buckwheat 4.00 ©4.25 Bran— Was nominal at $7.50©7.G2J4 per ton on track. Coun-Mkal— Coarse was nominal at $10.25© $10.2714 per ton on track. Oat-Mbal— Sale was made of 2,000 bags on private terms. SPUING WHEAT—Was less active, and averaged a shade better; the market advanced and closed %c above the latest prices of Friday. The British markets were quiet, and heavy on wheat atloat, while New York was quoted lower, and our re ceipts were larger with relatively light shipments. All this tended to depress prices; put the deliveries on February contracts were much smaller than bad been feared by the weak-kneed ones. The result was a stronger tone, be cause there was more confidence in the future of wheat There has been a good deal of uncertainty since the holidays in regard to the atti tude of the New York parties who bought here late in 1878. It has been asserted that they sold ouialanrc part, if not the whole, on the recant bulge, and Unit the wheat would be delivered ou Feoruary contracts, whence much of It would be thrown on the market. Tnls made a good many operators wary, but the wneat did nut come out Saturday. There was not, however, much specu lative demand, and me shipping inquiry was tame. Seller March opened, at 87(3i87}aC, declined to S*»?bC. and improved to So?ic at the close. Seller April was quiet at 87J£(&88>«c, and'May sold at 92c. Seller Feoruary was quiet at closing witn spot No. 2at 85;sC. Cash sales were reported of 401) bu No. 1 spring at 85i£c; G5,0U0 bu No. 2 at 85}ifrfcS5‘2c; 20,000 bu No. 8 at To*.*® 71c; 0,000 bu rejected at and 18,000 bu by sample at 58<&75c. Total, 100,400 bu. Wi.ntku Wheat— Was firm but very quiet. Soles were 400 bu No. 2 at SUjSc, and 400 uu do by sam ple at 00c on track. CORN—Was dull and steady at about the latest prices of Friday, Loudon was quoted steady, but New York was lower, and our receipts were nearly twice as large as those of the previous day, while the deliveries on February contracts were quite free. Hut there was no corn to speak of pressing on Idc market, ami holders were firm m their views, notwithstanding the fact of a rather light demand throughout for futures. There was a lair inquiry forshipment, and sample lots were firmer. Seder May took the lead in the trading; it sold at and closed steady at the ranee. April sold at lUUfttHJ’ic. March at hl&'tfET’-sC, and Feoruary at 807;<&81c, all closing firm at the in side. Cash com closed at 207sC. Spot sales were reported of 29.400 bu No. 2 and Ingn mixed at llOJgff/.'Jlc; 4,400 bu new high mixed at rejectedat27Jic;'»,4oo bu by sample at 28J«(& 01‘jc on track; 8,000 ha do at 25}4&29c free “on board cars: and 400 bu ears at 01cdelivered. Total. 57,000 bu. n 8,400 OATS—Were firm and in fair request, the trading being chiefly in futures. March taking the’ lead. The deliveries were free, but of these oats were held against next mouth, so that the cash offerings were not large enough to cause depression. Seller March sold at 2(Hic,' and April at 20*;c, closing ut-20? 4 '(&20&c.. May sold at 23?4(&287*c, and closed at this range. Seller the month sold at 20C&2JJ4C, and closed' at about 20?»c. No. 2 oats were quiet at 20$£20i-c, and rejected brought 17HC. Cash sales were reported of G,200 hu No. 2at 20&20?sc; GOO bu rejected at 17‘,ic; 11,400 buT»y aamolc at2Ui£2Bc on track; and 12.0J0 bu do at 22f&28c free on ooard. Total. 80,200 bu. RYE—Was steady” under a light inquiry for car lots. Futures were nomiualat4sc for next month. No. 2 sold at 48‘ic, and rejected was quoted at 40c. Cash sales were reported of 2,000 ou No. 2 at4B‘4c; 1,200 bu by sample at 43©44c on track. Total. 8,200 hu. i EARLEY—Was quiet and easy, except a limited 1878-’79. Weekending Since Jan . 30. liOV. 1, 3,892 73,710 ***’ 1,225 3.525 **’* 8.462 65,385 . 3,441 31,768 548 5,332 !!.**! 86,701 843.533 27,006 263,967 1,215 10.512 200 1,969 32,243 323,084 5,380 52,485 273 2,200 34 278 0, CSS 228,350 367 5,317 24 1.051 ... 3,545,472 35,406,834 ibTT-’TS. Week ending Since Jan, 31. A r ov, 1. 3,023 63,077 '** * 12,613 185,102 132 1,524 3,040 40,056 * . Q,l\A 33,152 2,032 32,303 **'. 1,010 10,473 '48,447 652,849 14 707 . 19.075 203.067 627 4,651 111 2,035 ... 55.007 400,397 2.651 33.002 160 3,817 451 1.372 . 17,223 299,727 479 4,750 .. 235 3,013 S/ioul tiers. ! Snort L. tp a*, snort ribs, clears, clears. $3.40 $4.35 $4.47*4 $4.57*4 3.52‘i 4.50 4.02*i 4.72*4 3.52*4 4.50 4.02 U 4.72*4 3.02*4 4.00 4-72*-; 4.82*/- 3.72*4 4.70 4.82*4 4.92*4 demand for extras, which was stronger nnder email offerings. No, 2 was nominally lower, Do ing quoted at the close at 84*4 c for March,-and at B:*’/«iftS4c for the month or cash. Extra 3 fresh sold at 47><®4Sc in A., D. & Co.’s, closing at tne inside, and Galena receipts at 47c. Kogular “O was quoted at44c. Do for March sold at 44?.t®40c, closing at the inside. No. 3 was quiet at 3o®*»<c, and feed at 24®25c, Samples were dull. Casn enles were reported of 4,400 bu extra 3 at 4 ns® 48c j 2,400 bu by sample at 35®73c on track. Total, 6,800 bu. ITOHNTNO CALL. Mess pork—Sales. 12,250 brls, at for March, and 59.70®9.75 for April. Lard — 1,250 tes at SO. email@example.com*4 for March. Short ribs— -100,000 lbs, at 54.47*4 for March. • BT TEI/EGRAPH. FOREIGM. The following were received by the Chicago Board of Trade: Liverpool, Feb.l—ll:3oa.m.—American floor, 8s Gd©los per cental.. Wheat—Winter, Be6d®9s; N 0.2 spring.Cs 10d®Ss; white,Bs Bd@9s Id; dab, 8s lld®Ds 4d. New corn, 4s 78d®4s 8d per cental. Fork, 435. Lard, 335. Liverpool, Feb. L—Prime mess pork—East ern, 44b ; Western, 41s. Bacon—Cnmberlands, 265; short ribs, 265; long clear,26s; short clear,26s Gd; shoulders, 21s Gd. Hams, 80s. Lard, 335. Prime mess beef, 70s; India mess beef, 775; Eastern In dia mess beef, 775. Cheese, 465. Tallow,36a3d. London, Feb. 1.— Liverpool—Wheat and corn quiet. 3lark Lane—Cargoes oft coast—Wheat heavy; corn steady. Cargoes on Passage—Wheat , heavy. Special Dimatch to i.*e Tri'j'znt, Liverpool, Feb. 1—11:30 a. m.—Flour—Bs 6d® 30s per cental. Grain—Wheat—Winter, No. 1,9 s; No. 2. 8a Cd; spring, No. 1,8 s; No. 2, OslOd; white, No. 1,9 s Id; No. 2,8 s 8d; club, No, 1,9 s 4d; No. 2, 8s lid. Corn—New, No. 1,4 s 8d; No. 2,4 s 7d, Provisions—Pork, 435; lard, 335. Liverpool, Feb. I. Cotton—Market easier and dull, at 5 5-lG@s%d; sales G,OOO bales; specula tion and export. 300 bales: American, 4.60 u. Repined Petroleum—B%d. Losdos , Feb. I, Repined Petroleum—B%. Antwerp, Feb. I.—Petroleum—23%d. NEW XOIUv. • To the Western -Associated Press. New York, Feb. I.—Cotton—Market dull at 9%®9%c: futures quiet; February, 9.42 c; March, 9.COc; April, 9.78 c; May, 9.93 c; June, 10.06 c; July, 10.10 c. Flour— Nominally unchanged; receipts, 11,000 brls. Grain— Wheat quiet; receipts, 120,000 bu; re jected spring, 75c; ungraded sprimr, $1.00; un red winter, 95c@51,08: 3 do, sl.o3?*© 1,04*4; No. 2 do. $1.08U©1.03*4; ungraded white” $1.07®!. 0854; No. 2 do, sl.o7ki; No. 1 do (sales 11,000 bu), sl.o9*i©i.o9*4; S1.10&1.10& ungraded amber, $1.02©1.07; No. 2 amber, $1,00?£®1.07. Rye—Market dull; Western and State,so@6oc. Barley—Market dull; six-rowed State, 81c; malt dull and nominal. Corn active but lower; receipts, 87.000 bu: un graded, 47©47?*c; No. 3,43 c; steamer, 45ft@ 45*/,c; No. 2,47 cin store; 47*4©18c ailoat, Oats quiet and unchanged; No. 3 white, 31?*©32c; No. 2 do, 33c; No. 1 do, 34*4c; mixed Weatern, 30@31*4c; white do, 32*4©33&c. ■ Hay—Quiet but steady. Hops—Steady and uncbanse. Groceries—Coffee quiet but Ann. Sugar quiet but firm; fair to good refining, 6*4@G?*c. Molasses dull and unchanged. Rice steady. Petroleum— Steady; united, 90 ?j©oß2£c; crude, 8J*(§l8&c; refined. l)*4c. Tallow—Steady at B**©B?tC. Resin—Firm at $1.42*4©!-45. Turpentine—29*4c. Ecus—Market dull; Western, 28*4©29c. Wool—Domestic lleece, 27©40c; pulled, 17© 30c; unwashed, 10©25c. Provisions—Pork unchanged dull; mess. $8.40 for old; $10.25©10.75 for new. Beaf dull and un changed. Cut incuts steady; long clear middles, 55.00; short do, $5.30. Lard quiet; prime steam, SO. 60. Butter—Quiet; Western 6*4©3oc, Cheese—Firm: Western 2®B|£c. Whisky—Quiet, at $1.07. LAW REFORM. Tho Bar, and What It Is—And What Makes It So. To the Editor af The Tribune* Rock Island, 111., Jan. 30.—' Pub Tribunb of the 12th Inst., io its editorial in relation to the Bor, did not quite do justice to lawyers, though it is entitled for what It did say to the tbauks of every honest man. And Judge Jame son is also entitled to the thanks of every good citizen for saying to the Illinois Bar Association that “hecan recall no important change iu either the common or statute law brought aoout by the united efforts of the Bar,” and that “it alone has never combined for any useful purpose,—moral, benevolent, or sci entific.” This was a good text. y should be ,)glad if it could he justly said of some of its Associations that they had not, to say the least, winked at and perhaps countenanced most degrading vices of some of their members. I might ask, What real ly noble end we can expect such an Association to accomplish, when, in disregard of the useful and honorable purposes avowed by it, not indi- vidual members alone, but the Association as a body, closes each annual meeting with a feast, at which the Intoxicating bowl is welcomed, and glorified, and proffered by the leading members to the lips of the younger ones, and that, too, alter listening to an eulogy upon some great lawyer whose death was caused by drunkenness? Such things have within the last thirty years been done at Bar meetings. Perhaps it was on some such occasion that a memberof one of these Associations alluded to by The Tribune raised a laugh, and probably won the approorobation of his fellow-members, by saying that u the lawyer who mounted a high moral horse is a jackass ”; and thus hinted the average moral elevation of his Association, as well as the public good its members might be supposed to aim at. The Bar deserves the utmost praise for its great ability and usefulness. The profession is a valuable means for training its members for public service, for real statesmanship, for wise legislators, executive oflicers ami diplomats. Better than any and all other professions and occupations it fits its members for these. Next to it ranks journalism. These two professions build up the broadest and wisest men, as w ell as the most practical. There are some lawyers—and these are the noble ones—who give all-the true dignity to the I profession of which it can boast; who are first of all, and over all, and at ail times, men / meu of the highest pattern, men whom you can safe ly crust in every relation of life,—in business affairs, in public cilice, and in politics. You can trust their integrity, their Honesty of pur pose, and sincerity. Like others they may err in judgment, but never deceive or betray. These meu cannot be hired for fees, or in fluenced by favor or friendship, to wrong their adversary. No man can hire or influence them to tell lies for him. They cannot be employed as journeyman liars. They may defend men they know to be guilty of crime, and men in the wrong, but only to the extent of seeing that such arc not unjustly dealt by. They will not pack juries nor bribe jurors or witnesses, nor will they browbeat witnesses to suppress truth or elicit a tolsehood. They will not stir up litigation, nor rob their clients by charging exorbitant fees. They will discourage vice, wrong, and crime, discourage all unneces sary litigation, advise the settlement of men's differences in au honorable way, without appeal to law. In short, they will be peacemakers where peace can be obtained without injustice. They are therefore good neighbors and citizens, and safe advisers for honest men to employ. But the average member of the Bar has no such character, is moved bv no such motives, and is unworthy of any such respect as the one I have pictured. lie is a faithful believer iu the u jackass” maxim. True, he, as a man and a citizen, has some good qualities. ,fle is often generous, kind, sociable, as honest outside of uis profession as other men whose honesty sprincs from the belief that honesty is the best policy, and has spasms of ihattluugoi indefinite character ami value called “ professional honor.’ 1 Such a man in professional life cau see tlpit a dishonest, knavish, tricky act, or a lie told when done by a lawyer for another person is entirely respectable, iu harmony with profes sional honor, and not deserving of .the scorn that would be visited upon him if done by au unprofessional man in his own iutcr est. His lawyer’s license and his re tainer sanctify any villainy he may com mit, and shield him from the contempt he would otherwise deserve. He may, there fore, stir up litigation, bribe his adversary’s witnesses to runaway, or his own to commie perjury; may bully witnesses and blacken aud defame their character, pack juries, lie to the Court upon his profeu : vnai honor, secrete, or, if you please, steal the papers filed in a cause. He may even lend himself to the blackmailer, and compound and* agree to conceal criminal offen ses, real and pretended,—all of • these and even more, —and still be recognized by his legal breth ren; and more ami worse than all, reachdiiaces of high honor by election and appoiutuWuV; none thinking it wise to 1 ' oppose uim because “he has done no more than any lawyer would do.*’ And for ; that reason he Is considered as having a riff at to make himself a nuisance and a pest to society. These creatures think themselves go titled to live and fatten off from the community, to live viciously and riotously; because that community ; aamirimrly apologizes for them, saying “they 1 are devilish good fellows, you know;” “devil ish sharp; ” “splendid lawyers, but will have a ' tear once in a while, get drunk, gamble, and lie; but, then—they arc lawyers!” , As legislators, they are partisans on all ocea , sions, and gravitate at once into rings. They ■will necessarily and always oppose simplifying and cheapening the means of obtaining justice, and they will sneer with as much case at those i who feel it their first and highest duty to serve the people as does the author of the “jackass ” quotation at the lawvers who would be better than himself. They sneer at true honor every where with the brazen effrontery that an inmate of a bagnio would decry female chastity. But the picture is a loathsome one, and yot it is not without its companion-piece; for the fault is not alone that of lawyers, as we shall see. Though these men have brought disgrace upon the profession and should be weeded mtt, I have no hope of such a consummation. They are too firmly intrenched in the needs of the people. Th&j are , in fact , as good as the people toant or wou-.d have them to be. The self-righteous creature who occupies a front pew in a costly church must have the knavish lawyer; the honorable business man ana the very pious Cashier of a savings bank must have him; the President of a great insurance company must have him; railroad companies cannot do without him; County Boards and City Councils seek his ad vice aud nis services; the Tildens, and Vander bilts, ami Fisks find him indispensable; mem bers of Boards of Trade seek his assistance ; and even Brooklyn finds his stereotyped “ I object ” and h J s lachrymose exhibitions of vital conse quence. And the Barnards, Cardozos, and Mc- Cunns are of immeasurable value to a commer cial city. The fact is, men who pride themselves upon their great respectability, when they want some very rascally act committed prefer to pay some one who can, if paid for it, do that act for them, without at all impairing their eminent respectability, and who, if paid a sufficient fee, can do it without himself being considered a knave. Be sides the confidences between the two knaves are privileged -communications. The lawyer at least most not tell of them. il Qui facit per alium, fac'd per se,” is a wise axiom of the law relating to contracts. What one docs through another, his agent, he does himself. But this principle seems not to be treated by most men as applicable to a client and bis attorney, when their aets are considered in a moral aspect. For here it is proper for very nice men to lie and cheat through an at torney, and the attorney may rightfully lie aud cheat for bis client. The high moral char acter aud social standing of the first cannot in the least be smirched or sdaken by the foulest wrong through which he profits; and the latter pleads his license to practice law and his retainer to show his own immaculate purity ot character and professional honor. And the public look on and say, “Nobody to blame—unless it is the unfortunate victim of the two rogues.” The client pays money to a professional rogue and escapes the odium of a swindle by woich he proposes to profit; and the lawyer stands up with hand on his honest breast and says; w Here lurks no sio; my pure heart is entrenched be hind this parchment and these fees.” If I hire another to • burn my neighbor’s bam or to knock a man down, no matter whether he is a professional “fire-bug” or a professional prize fighter, the moral sentiment of the world and the j law both sav lam as guilty as he. Yet the ' forty-ninth side of a hair is broader than the true distinction in principle between the conduct of the swindling client who hires a lawyer to accomplish his purposes, and the aider and abettor of crime; or between the lawyer who hires out his services to accomplish a villainy and the “fire-bug” who burns for pay. But the great respectable public apply a different rnlcto the two cases. Tims the client and the attorney—twin rogues—stand acquitted even before they are charged with villainy. Public sentiment has already declared this to be the moral law of the case. The ethics —God save the mark!—of the Bar approve; the puloit is silent; the medical fraternity have enough of a kindred vice to look after—aud if only committed by “regulars”—to tolerate,- and palliate, and excuse; the lecturer is under bonds to say only pleasant things, and the stage meddles with the Bar neither to oraise or denounce, but only to expose and laugh at its solemn but jaunty follies; commerce is so under obligation to, and has so many interests in common with, the de based members of the profession that it cannot afford to have a family quarrel; agriculture growls feebly when hurt, but is happy and silent when not a victim; vice openly defends the pro fession’s worst characters and most dangerous practices; aud theft anxiously inquires alter the health of some idolized *• high-minded and hon orable lawyer n betore it commences to steal! And when the law-breaker is put upon trial the community attend and applaud the meanest trick and most brazen-faced vil lainy of the great criminal lawyer who defended him, and then go to the polls and shout for and vote for that lawyer tor Judge, and ex pect him to be an impartial, uncorruptible, and wise magistrate; or, elect him to Congress, and expect that he will not be a malicious partisan, a xiugster, and bulldozer, unjust to his enemies and treacherous to his friends. It takes a degraded public sentiment to ei case the dishonest client and the dishonest law yer, and it takes hundreds ot dishonest clients to feed and fatten one dishonest member of the profession. The Bar will be reformed just as soon as public sentiment demands it, and it tcill a'toays be just as good as public sentiment vlii tolerate it in being . The Bar may de mand more learning', but it will never reform itself. There is no use of sniveling about this. Manyof the men who sneer at the dishonesty of lawyers will pass the office of an honest one and place their business in the hands of another whose dishonesty is denounced. And thus they teach both that “honesty is at a dis count among good men, and to be ranked as a “ jackass,” and that even moderate success is not to be attained by a lawyer until he has first come to be esteemed a knave; that knavery is so necessary that honest men cannot live with out its assistance, and no lawyer can succeed largely in his profession or in politics unless he is a knave. How much better then is that pub lic sentiment which demands and approves of knavery than the knaves themselves? This is a savage indictment of public senti ment, but it is unfortunate]? “founded on facts.” Let Tun Tribune, t herefore, continue to prick these pretentious bubbles as it has al ways condemned the defective admin iteration of justice in Chicago. While Judge Jameson very justly claims that improvements in the laws of most English speaking countries have been made at the in- stance of lawyers, Tun Tribune claims with truth that the “Granger laws” were enacted in defiance of the almost general protest of the legal profession. Yet these last named laws could not have been framed and passed but lor the aid of lawyers. Observation has taught me that legal knowledge is necesssary to draft statutes which can be enforced. The truth is, there arc good men in the pro fession who have just and generous aims, and are deserving of our highest respect. But when will outsiders give them credit for these quali ties and honor them as much as they honor the greedy and selfish ones? Just as soon as public opinion respects and demands honesty, and not before. A Lawyer. Objections to and Advantages of a Code. To the Editor cJ The Tribune. Chicago, Feb. I.—That a code of the settled rules and principles of the common and statu tory law is practicable will be admitted by many who deny its desirability. The objections urged may be repeated with the answers which have been stated before. 1. It is first objected that it is not possible to reduce the entire law to*a complete and perfect statute. * T his is conceded, but its force as an argu ment is denied. if the objection be valid to a code as perfect as may be, it is also valid as to any system of law, for no system is perfect. If society shall deuyitself a code because a perfect one cannot be devised, it should for like reason deny itself all government, for a perfect government has never existed. The objection would have some force if it was proposed 10 abrogate all law save tlmtexoressed m the code, as was done in the Code Justinian. u We forbid,” said the Emperor in the Consti tution promulgating the first code, u all plead ers and advocates, under penalty of making themselves guilty of fraud, any other statutes than those which are inserted in our code, or to quote otherwise tnan as written therein: for tnese Constitutions, together with the works of the ancient interpreters of the law, must suffice to decide all suits.” In the Constitution pro mulgating the Pandects he said: “ Let no jurist at the present time or In the future dare to annex commentaries to these laws; wc only permit translations ironi Latin into Creek, and the summaries called varaiitta intended to describe the articles; but not inter prelat,on&, or rather pervesioties. Penalties due ,i e tTltne fraud are threatened on those who shall contravene this prohibition.” prohibition attended the promulgation « * new Ids said that Napoleon ex daimed,’ * My code* Is lost,” • when informed , was the text of. a commentary. Even proposed to make a code so com plete that it should abrogate all law not therein written, and leaving all cases fur wnich he did not mate provision undetermined until the Legislature could enact a new law. All such attempts must ever be Xt is i possible to state only the law that Is settled h, ' feeislative enactment and judicial deeSw ’ leaving analogies in fall force for the disnnZ • tioa of cases for wnich urovision has not bee 1 made. en 2. The second objection nsualiy nresent«t rests upon the assumed flexibility of the com ■ mon law, and the unyielding character off h statute. Fortunately for the stability of mnZ : erty rights and the security of personal liberti" the common law is not so pliant as is claims’ 1 When the Court may disregard ormodifrwin settled rales, the, discretion of the Jujg, 1 not the written law becomes the rule. “Sonit is a roenish thine,” says Seldoo; “ for law w ■ haye a measure. Know what to trust to- eunoJ is according to the conscience of him’ wim, Chancellor, and as that is large or narrow sn i equity. It is all one as if they should make rh» standard for the measure we call a »J~i e a Chancellor’s foot,—what an nncerSr measure would this bo! One Chance? lor has a short foot, another a foot, a third an indifferent foot. It j, Af same thing with the Chancellor’s conscience.” This statement of the equity jurisprudence wa. not exaggerated in Seldon’s day. Thernleiof equity, howeyer, haye since become as well act. tied as those of common law, and the one is a« Improperly disregarded as the other. It ta ,hc boast of Tyler in his introduction to Stephens on (a paper devoted to proving that Anglo-Saxon liberty has its only foundation in the common courts and the general issue) thS “under the common law former decisions reeled the court unconstitutionally”- thatit “is deemed ,by the common law’ indis pensable that there should be a flxed rale of decision"; that «ita principles of Interpretation are fixed and cer tain,” and that “ those early adopted haye never been departed from.” Hence it is that the common law ia never amended, except by leifis lative action. It is true that an imperceptible modification is being made in the application of some of its rales by judicial decision, bat even this is never permitted until long after the changed condition ot the people makes the rule odious, and then the modification Is generally expressed in the form of a legal fiction, hr which, as Sir Henry -Maine aptly expresses it “I living principle is permitted to exist in the shell of one that is dead.” Such fictions shonid bare no place In the jurisprudence of a progressive people, and they can have none in a system which is easily adjusted to a changiog civiliza tion. A rule of customary law always outlives' the conditions of the society or commerce which called it into existence, t The venerable absurdities of the common law ot to-day were she natural outgrowth ot condi tions which have long since passed away, u they are repealed, it must be by legislation, and legislation may amend the statute as easily as it can modify the common law. A code may be more easily adapted to changing conditions than a body of customary and written law evi denced by a great mass of independent enact ments and judicial decisions. In fact, every code should contain within itself a provision for its general revision or amendment at stated periods—say every ten years—an amendment or revision which should be made by incorporating in the body of the code the new enactments of the Legislature and the new roles announced by the courts. 3 a Another objection is thus stated; “ Words and phrases have acquired a settled meaning ia the common law, and in reducin' that law to a written form new °wordi and phrases would necessarily be used, to settle the meaning of which would require much litigation. If the state ment of a rule, io the opinion of a Court, as. eumed a certain formula, that lormuia may (I transcribed into the statute. May not the Leg islature use words io the sense 'in which they are employed by the Judges? In any event, if there be am-real difficulty in this regard It is easily avoided by a chapter of definitions, Which should form a part of every codeias it does ot nearly ail that have been adopted in modem times. The omission ot this in the Code Na poleon is noted by Austin as one of its principal defects. 4. It is also urged that the fixed forms and in flexible character of the code would retard the development of the law. This is bnt another statement of the proposition that judiciary law is more flexible than legislative enactment. The answer to the objection stated in that form, states the answer to this. 5. It is sometimes stated that the modem codes of Europe have failed to realize die hopes of their projectors. It is also understood that the defects in the code of Justinian were neces sarily supplied by the promulgation of a neir Constitution. It is true that some European codes are defective in not providing for a peri odical revision whereby newrules established by legislation or developed by judicial discussion maybe assigned to their proper places in. the general system, but It is not true that the codes thus defective hare not improved both the lair and the literature of the law. Not one of the nations in whlcn codes have been adopted would for a moment entertain the proposition to re turn to the old condition. It is also trne that several of the European codes are very defective in classification, but many of these defects have been avoided in those prepared in New York, and in the one which has been adopted in Cali fornia, to which attention has already been called. Attention may now be properly called to some of the advantages which it is believed would result from codification. 1. It would render the law more accessible to both lawyers and laymen. The main body of the settled law is now unknowable to the peo ple whose rights it secures and whose duties it defines. Even lawyers are contented with knowing where it may be found; no one at tempts a mastery of its details. The poverty of time, inaccuracy of digests, and inaccessi bility tolibraries, render impossible the thorooeh 5 and complete preparation of arguments upon questions arising in any cases except those of sufficient importance to demand an exhaustive investigation without regard to the time con sumed. Many rales, each of which is now eliminated from many adjudged cases, might be stated on a single page of the code wnich, upon beingsanctioned by legislative enactment, would have the force of jaw without the support of the adjudged cases. It is seldom that a good lawyer enters upon the trial of an important case without apprehension that, in the harry of the hearing, hs will be compelled to confront some case decided by some Court iu some En glish-speaking count??, which has escaped his vigorous search through 5,000 volumes of re ports which constitute the evidence of the com mon law. That every man may be his own law yer is not within reasonable anticipation. Bat every intelligent man may be enabled to know more than is now possible of the rules to which he is required to conform his conduct. Asyi tematic statement of the law would economize the labor and time necessarily consumed in the investigation of questions by professional men, and thus materially reduce the costs of justice to the people. These considerations may not fa- press themselves upon the happily small num ber of lawyers who regard the prolessionasanart merely to be appreciated for the money which it will produce; or that other classes who feel that the dignity and usefulness of the law is depend ent upon the solemn mystery which envelops it- ' . 2. A systematic statement of the Jaw would reduce the volume of legal literature,— a coo sumation to be devoutly wished by lawyers and laymen. That which is now diffused through several thousand volumes may be reduced to three or four of moderate size, and be more in telligible in its condensed than in its present form. For a while lawyers would from sheer force of habit compare the rule in the statute with the decision from which it is deduced, hut save lor purposes of illustration and application it would soon be discovered that such labor would be useless, as the statute would control if a conflict were discovered. The codes ; of Justinian and Napoleon superseded several tnousand volumes which constituted, before their promulgation the written evidence of the law. Now a complete law library is seldom attained bv a State; if tn® laws were condensed and systematically ajj* ranged, a library sufficiently complete for all the demands of practice could be acquired oy every lawyer. 3. It would make the law in form what it istt fact, —a science. The logical arrangement of its principles would develop its defects, incon sistencies, and incongruities, and lead to Imme diate provision for their correction. Ini lead ot an independent remedy lor each of a senes oc wrongs, one system would be devised for am In fact, radical reform is essential to satisfactory codification. Fictions, artificial distinctions, and antiquated absurdities must disappear be fore any successful attempt at systematic stale ment. CORPORATIONS ORGANIZED. Springfield, 111., Feb. I. —License to ize was issued to-da? to the Jay Mining ® Smelting Company, of Chicago; capital, $30,- 000; corporators, Eugene J, Fellows, Edgar Fellows, and Adolph Bemud. . _ Also, to the Chicago-Boston Backboard Co®- pany; object, the manufacture of wagons, carri ages, etc.; capital, $125,000; corporators, M. v. Bemis, John H. McAvpy, and S. K. Dow. A certificate of organization was filed by tne Du Page County Bar Association, of Wheaton, corporators, Elbert H. Gary, Noah E. CarT* Hiram S. Cody, and Myron C. Dudley; Direc tors, N. E. Gary, A. Vi. Sundllngcr, iL. C. Dud ley, H, 3. Cody, and R. N. Murray. OBITUARY. Lexington, Ky,, Feb. I.—Dr. J. K. Morton, the eminent homeopathic physician, of this city* died suddenly this morning of paralysis whfi* attending a patient.'