yer, 127 Dearborn street, Chicago, is largely interested in property here, which is offered upon liberal terms. AN IMPORTANT DISCOVERY. A company with a capital of $1,000,000 has recently been incorporated for the purpose of working and developing an invention which will doubtless prove to be among the most important of any brought out in this inventive age. Reference is made to the process of vaporizing crude petroleum and using the resulting vapor as a fuel, after the method as discovered by Mr. O. D. Orvis. It has already been demonstrated to be of far greater value than was ever hoped for or expected of by the inventor. This discovery of Mr. Orvis is something new in practical science, and, from the practical uses to which it has already been put, certainly seems destined to create a revolution in the use of fuel for steam purposes, from the fact that a superior quality of heat is produced at a reduced cost. It has been proven in addition that it produces the purest and most in tense heat known, as well. From these facts it can be readily seen that the process must be invaluable for all kinds of smelting and puddling furnaces, as a much better quality of iron is produced than can possibly be made by the old process. Glass manufacturers will be able to make a superior quality of their product, equal too, if not superior, to that heretofore so largely imported from foreign countries. This process of Mr. Orvis' has the great merit of simplicity, and can be easily applied to locomotives. tugs, steamships, and stationary boiler furnaces of every description, and while in operation the chimney is absolutely smokeless, There seems to be no limit to the variety of industries to which this invention can be The applied, and with great, lasting benefit. iron and glass industries, however, will doubtless receive the greatest financial benefit. That which the general public are most, interested in lies in the fact that by this new process of generating steam the smoke problem is solved. As one of our leading contemporaries says in a recent issue: When this new company is able to free Chicago from the pall of smoke which hangs over the city, and our railroads run smokeless engines free from soot, cinders, and noxious gases, then humanity will be benefited, and the Orvis Smokeless Hydro-carbon Furnace Company will be styled as public benefactors." The most prominent Manufacturing Establishment of Elkhart, Ind., is the Muzzy Starch Works, making a Specialty of Muzzy's Corn and Sun Glass Starch, and that of "BUT ONE QUALITY, THE BEST." They have a large and growing trade, having increased their works the past season, giving them capacity for ten million pounds per annum. which is sold by nearly all of the wholesale and retail grocers of Chicago and the Middle and Western States. FOR SPECULATORS. CHAPTER XVI. METROPOLITAN GRAIN AND STOCK EXCHANGE. The speculative business of Chicago, which can hardly be computed by figures, is divided, rather through the result of caprice than upon any business principle which can be defined, between the operators on the regular Board of Trade, the Open Board, and the exchanges which hire the so-called "Board of Trade alley." These "exchanges" are not smiled upon as a rule by the Board of Trade gentlemen, perhaps because the great corporation which has its headquarters in the Chamber of Commerce is rather anxious to entirely control all the vast volume of traffic in grain and provisions, either for present or future delivery, which flows into this wonderful mart, and possibly because mod ern speculation does not fittingly reverence the great corporation, and propose to seek a market wherein it can be most advantageously found. to The Metropolitan Exchange claims be able to fill whatever bill the speculatively inclined may call for at a less than a reasonable charge, and with a positive assurance, backed by a legal guarantee, that they will perform what they promise. Through their good offices people can readily avail themselves of the wonderful opportunities which Chicago offers for moneymaking by speculation, without any unpleasant forebodings that good money is to be sent in pursuit of bad, after the former has gone hopelessly astray. The Metropolitan Exchange, the subject of this brief notice-and a trade review notice in a leading Chicago daily must of necessity be brief-was incorporated and organized under the strict statutes of the State of Illinois, and can boast of an entirely legal existence. It possesses a paid-up capital of $100,000 and an blemished financial reputation. That it is really above reproach is evidenced by the fact that the First National Bank of Chicago, Preston & Co., bankers, of Detroit, Mich., and the Chatham Street National Bank of New un York City, all permit their names to appear upon the list of references which is appended to its announcements. This Exchange is the Chicago trading place for the million, the bazar where the commodities of a district of country larger than some empires which have cut a figure in history are daily vended for the benefit of the general public, not for a favored few. The It is not quite easy to explain how this largest concern of the kind in Chicago, probably in the world, can offer inducements to customers which the regular or the Open Boards of Trade would find it difficult, if not impossible to duplicate, nor could an explanation be given in the space now at the writer's disposal. Some suggestions can, however, be made which must place, a membership on the regular, the pass for what they are worth. In the first Open, or the Call Boards of Chicago is an expensive luxury without which a person cannot do business, except through a broker in connection with those corporations. operator who has to pay a high figure for the privilege of dealing can hardly (other things being equal) compete with the man who, with the best or very nearly the best facilities for speculative dealing at his disposal, has nothing or next to nothing to pav for the right to exercise his skill, abi ty, and knowledge of the market for the benefit of himself or his customers. It must not be supposed because these Comparisons and suggestions are made that there is any disposition on the part of the writer to underrate the importance of the great mercantile organizations of Chicago, to whose wisdom, liberality, and enterprise the Garden City owes such an enormous debt, but it is nevertheless true that the Board of Trade and its auxiliaries, while possessed of almost boundless resources and a kind of knowledge which can be coined into current money, does not, because it cannot from the nature of things afford to the million an opportunity to do pro rata what those who have millions are continually doing, and accumulating other millions by their transactions. The Metropolitan Exchange makes an especial point of possessing all needful business facilities for operating in grain, seeds, and provisions, and stocks in large and small quantities. It has direct telegraphic communication with all the leading business centers, and the prin elples upon which it trades, and the option deals, which form such a prominent feature of its business, are substantially the same as those with which any regular Board of Trade speculator is familiar. There is this important modification, however, of Board_of Trade rules at the Metropolitan Exchange: The trader at the latter place is only responsible for the amount of margin hazarded on each deal, and those who desire to limit their losses to a certain sum will in all instances be guaranteed against any loss in excess of that amount. This distinctive characteristic manner of trading on the Exchange deprives speculative business of its most objectionable and dangerous element. The "Metropolitan" is especially desirous of securing in every city, village, hamlet, and farm which contribute but a drop of the lifeblood of trade to Chicago-the commercial heart of the civilized world-a live man to act as broker for his benefit and its own. For the benefit of this class it has lately made the following suggestions and statements in a circular letter: You will please note our references herewith. With our capital and standing, direct telegraphic communication from our office to all points, enabling us to give immediate and quick replies to all messages, and by giving each and all orders our personal attention, our facilities for handling out-of-town orders cannot be equaled. The principle of trading and the options dealt in are the same as on the regular Board of Trade, with the exception that the trader is only liable for the amount of margin placed on each deal. Those who desire to limit their losses to a certain amount are guarananteed against further loss by us, and are not subject to the sweeping changes of a wild or cornered market, with the liability of having their commission merchants draw on them for an amount that they had supposed there was no possibility of losing. We more especially call the attention of brokers sending orders to the regular board on commission or salary to our system; to those we offer superior advantages. We will allow much better terms, with no liability to them, than any other houses. Please note and write to our references. THE PUBLIC GRAIN AND STOCK EX was organized under the laws of the State of Illinois in the year 1880, for the purpose of affording the best and most reliable facilities for the purchase and sale of grain, provisions, and stocks for immediate or future delivery. Chicago has been known for years as the sepculative center of the world. It is the vast drawing depot into which is gathered the grain and meat products of the great for trading, either in large or small quantities, may be briefly enumerated as follows: It has special wires from its office to all parts of the country, both East and West, and are connected with first-class correspondents in all large cities, who have formerly been doing business through or with the Board of Trade, and who now represent the Public Grain and Stock Exchange, recognizing their superior facilities for doing busi ness. With these correspondents a dealer can buy or sell as low as 1,000 bushels of grain, fifty barrels of pork, fifty tierces of lard, and twenty-five shares of stock, or larger quantities if desired, on margins as low as 1 cent a bushel on grain, 25 cents a barrel on pork, 8 cents a tierce on lard, and $1 per share on stocks, and he is only responsible for the amount of money which he may order placed upon a trade, and cannot lose beyond that amount, and while the market goes his way his profits are unlimited. He can do his business with the Public Grain and Stock Ex change at the same commission and with no expense for telegraphing, or, in other words, can trade just the same as though he was on the Board of Trade in person. If he places his business with a broker on the Board of Trade, in the first place he will be obliged to put up five cents a bushel on grain, and the same proportion on provisions and stocks, and will be liable for additional margins wherever the market goes, He also cannot purchase less than 5,000 bushels of grain, or 250 packages of pork, that being the smallest quantities dealt in on the board. satisfactory prices in trading with this Exchange, for the reason that the order is executed the moment it is received in our office, providing it is not limited, and then it is filled providing the price is reached. The customer is always able to get more THE BIRDSELL American Northwest, and from hence these SPRING WAGONS. two essentials of living are distributed, not only to the cities of this continent but to the leading capitals of Europe also. The advantage which this Exchange offers ADDRESS BIRDSELL MANUFACTURING COMP'Y SOUTH BEND, IND. A NOTABLE PIONEER HOUSE. The oldest ship-chandlery house in Chicago and the one best known to the marine service of our great lakes was founded in 1840 by George A. Robb, was succeeded in 1845 by Payson & Robb, and then in 1850 by Hubbard & Robb. George A. Robb died in 1857 in Havana, Cuba, and the name of the firm was changed to Gilbert Hubbard & Co., continuing under that name twenty-five years. bert Hubbard died in May, 1881. Jan. 1, 1882, the firm was changed to its present name of George B. Carpenter & Co. For a whole generation it has been a representative house, distinguished for enterprise, for integrity, for financial responsibility, and for doing its full share in building up Chicago and in promoting the welfare of its citizens. GEORGE B. CARPENTER & CO., Gil as successors to Gilbert Hubbard & Co., are at present the largest house, and are enjoying a larger business in their line than any other house in this market. Their stock includes complete lines of cordage, cotton duck, tackle-blocks, twines of all kinds for any and all uses, among which may be especially mentioned twines and cords for horse-nets and hammocks, for grain-binding harvesters, gilling and seine twines for fishermen's use, etc.; asbestos materials of all kinds, asbestos paints, and asbestos roofings, packings, cotton waste, lubricating oils, and a general line of mill and railway supplies. In manu factured goods they deal extensively in tents wagon-covers, awnings, and anything that can be made of, or furnished with, cotton duck. for, the manufacturers direct in their several As buyers from, and selling agents lines, this firm are in a position to make prices at all times in competition with the lowest. Illustrated catalogues and price-lists are mailed free upon application. All THE POPULAR NEW PEORIA HOUSE. Travelers visiting the "Second City" will find it decidedly to their advantage to make their headquarters at the popular new Peoria House, upon which $30,000 has recently been expended in improvements. This is one of the best managed hotels in the West, and one that charges reasonable rates. the modern improvements for the comfort and convenience of guests are employed, and no hostelry in Peoria affords better facilities for reaching all parts of the city-being located just opposite the Court House, and on the street railway line that leads to all the large manufacturing institutions. The tables are as well supplied as the best Chicago hotels, and in other respects the new Peoria Hotel equals its most pretentious rivals in the great city on the lake. Messrs. J. S. Clarke & Son, the proprietors, are vetexans in the business, and personally look after their patrons, with whom the Peoria House is always well filled. GEO. E. BROWN & CO., AURORA, Kane County, Ill., |