means that the person who sells the wheat has the privilege of delivering it at any time during the month of June.

Selling short, is contracting to deliver a certain amount of grain or stock, at a fixed price, within a certain length of time, when the seller has not the stock on hand. It is for the interest of the person selling "short," to depress the market as much as possible, in order that he may buy and fill his contract at a profit. Hence the "shorts" are termed "bears."

Buying long, is to contract to purchase a certain amount of grain or shares of stock at a fixed price, deliverable within a stipulated time, expecting to make a profit by the rise of prices. The "longs" are termed "bulls," as it is for their interest to "operate" so as to "toss" the prices upward as much as possible.

NOTES.

Form of note is legal, worded in the simplest way, so that the amount and time of payment are mentioned.

$100.

Chicago, Ill., Sept. 15, 1876. Sixty days from date I promise to pay to E. F. Brown,

or order, One Hundred dollars, for value received.

L. D. LOWRY.

A note to be payable in any thing else than money needs only the facts substituted for money in the above form.

ORDERS.

Orders should be worded simply, thus:

Mr. F. H. COATS:

Chicago, Sept. 15, 1876.
Please pay to H. Birdsall, Twenty-five dollars, and charge to
F. D. SILVA.

RECEIPTS.

Receipts should always state when received and what for, thus:
Chicago, Sept. 15, 1876.
Received of J. W. Davis, One Hundred dollars, for services

$100.
rendered in grading his lot in Fort Madison, on account.

THOMAS BRADY.

ARTICLES OF AGREEMENT.

An agreement is where one party promises to another to do a certain thing in a certain time for a stipulated sum. Good business men always reduce an agreement to writing, which nearly always saves misunderstandings and trouble. No particular form is necessary, but the facts must be clearly and explicitly stated, and there must, to make it valid, be a reasonable consideration.

GENERAL FORM OF AGREEMENT.

THIS AGREEMENT, made the Second day of October, 1876, between John Jones, of Aurora, County of Kane, State of Illinois, of the first part, and Thomas Whiteside, of the same place, of the second part

WITNESSETH, that the said John Jones, in consideration of the agreement of the party of the second part, hereinafter contained, contracts and agrees to and with the said Thomas Whiteside, that he will deliver, in good and marketable condition, at the Village of Batavia, Ill., during the month of November, of this year, One Hundred Tons of Prairie Hay, in the following lots, and at the following specified times; namely, twentyfive tons by the seventh of November, twenty-five tons additional by the fourteenth of the month, twenty-five tons more by the twenty-first, and the entire one hundred tons to be all delivered by the thirtieth of November.

And the said Thomas Whiteside, in consideration of the prompt fulfillment of this contract, on the part of the party of the first part, contracts to and agrees with the said John Jones, to pay for said hay five dollars per ton, for each ton as soon as delivered.

In case of failure of agreement by either of the parties hereto, it is hereby stipulated and agreed that the party so failing shall pay to the other, One Hundred Dollars, as fixed and settled damages.

In witness whereof, we have hereunto set our hands the day and year first above written. JOHN JONES,

THOMAS WHITESIDE.

AGREEMENT WITH CLERK FOR SERVICES.

THIS AGREEMENT, made the first day of May, one thousand eight hundred and seventy-six, between Reuben Stone, of Chicago, County of Cook, State of Illinois, party of the first part, and George Barclay, of Englewood, County of Cook, State of Illinois, party of the second part —

WITNESSETH, that said George Barclay agrees faithfully and diligently to work as clerk and salesman for the said Reuben Stone, for and during the space of one year from the date hereof, should both live such length of time, without absenting himself from his occupation;

during which time he, the said Barclay, in the store of said Stone, of Chicago, will carefully and honestly attend, doing and performing all duties as clerk and salesman aforesaid, in accordance and in all respects as directed and desired by the said Stone.

In consideration of which services, so to be rendered by the said Barclay, the said Stone agrees to pay to said Barclay the annual sum of one thousand dollars, payable in twelve equal monthly payments, each upon the last day of each month; provided that all dues for days of absence from business by said Barclay, shall be deducted from the sum otherwise by the agreement due and payable by the said Stone to the said Barclay.

Witness our hands.

REUBEN STONE.
GEORGE BARCLAY.

BILLS OF SALE.

A bill of sale is a written agreement to another party, for a consideration to convey his right and interest in the personal property. The purchaser must take actual possession of the property. Juries have power to determine upon the fairness or unfairness of a bill of sale.

COMMON FORM OF BILL OF SALE.

KNOW ALL MEN by this instrument, that I, Louis Clay, of Princeton, Illinois, of the first part, for and in consideration of Five Hundred and Ten dollars, to me paid by John Floyd, of the same place, of the second part, the receipt whereof is hereby acknowledged, have sold, and by this instrument do convey unto the said Floyd, party of the second part, his executors, administrators, and assigns, my undivided half of ten acres of corn, now growing on the farm of Thomas Tyrrell, in the town above mentioned; one pair of horses, sixteen sheep, and five cows, belonging to me, and in my possession at the farm aforesaid; to have and to hold the same unto the party of the second part, his executors and assigns, forever. And I do, for myself and legal representatives, agree with the said party of the second part, and his legal representatives, to warrant and defend the sale of the afore-mentioned property and chattels unto the said party of the second part, and his legal representatives, against all and every person whatsoever.

In witness whereof, I have hereunto affixed my hand, this tenth day of October, one thousand eight hundred and seventy-six.

LOUIS CLAY.

BONDS.

A bond is a written admission on the part of the maker in which he

pledges a certain sum to another, at a certain time.

COMMON FORM OF BOND.

KNOW ALL MEN by this instrument, that I, George Edgerton, of Watseka, Iroquois County, State of Illinois, am firmly bound unto Peter Kirchoff, of the place aforesaid, in the sum of five hundred dollars, to be paid to the said Peter Kirchoff, or his legal representatives; to which payment, to be made, I bind myself, or my legal representatives, by this instrument.

Sealed with my seal, and dated this second day of November, one thousand eight hundred and sixty-four.

The condition of this bond is such that if I, George Edgerton, my heirs, administrators, or executors, shall promptly pay the sum of two hundred and fifty dollars in three equal annual payments from the date hereof, with annual interest, then the above obligation to be of no effect; otherwise to be in full force and valid.

Sealed and delivered in

presence of

WILLIAM TURNER.

GEORGE EDGERTON. [L.S.]

CHATTEL MORTGAGES.

A chattel mortgage is a mortgage on personal property for payment of a certain sum of money, to hold the property against debts of other creditors. The mortgage must describe the property, and must be acknowledged before a justice of the peace in the township or precinct. where the mortgagee resides, and entered upon his docket, and must be recorded in the recorder's office of the county.

GENERAL FORM OF CHATTEL MORTGAGE.

THIS INDENTURE, made and entered into this first day of January, in the year of our Lord one thousand eight hundred and seventy-five, between Theodore Lottinville, of the town of Geneseo in the County of Henry, and State of Illinois, party of the first part, and Paul Henshaw, of the same town, county, and State, party of the second part.

Witnesseth, that the said party of the first part, for and in consideration of the sum of one thousand dollars, in hand paid, the receipt whereof is hereby acknowledged, does hereby grant, sell, convey, and confirm unto the said party of the second part, his heirs and assigns forever, all and singular the following described goods and chattels, to wit:

Two three-year old roan-colored horses, one Burdett organ, No. 987, one Brussels carpet, 15x20 feet in size, one marble-top center table, one Home Comfort cooking stove, No. 8, one black walnut bureau with mirror attached, one set of parlor chairs (six in number), upholstered in green rep, with lounge corresponding with same in style and color of upholstery, now in possession of said Lottinville, at No. 4 Prairie Ave., Geneseo, Ill.;

Together with all and singular, the appurtenances thereunto belonging, or in any wise appertaining; to have and to hold the above described goods and chattels, unto the said party of the second part, his heirs and assigns, forever.

Provided, always, and these presents are upon this express condition, that if the said Theodore Lottinville, his heirs, executors, administrators, or assigns, shall, on or before the first day of January, A.D., one thousand eight hundred and seventy-six, pay, or cause to be paid, to the said Paul Ranslow, or his lawful attorney or attorneys, heirs, executors, administrators, or assigns, the sum of One Thousand dollars, together with the interest that may accrue thereon, at the rate of ten per cent. per annum, from the first day of January, A.D. one thousand eight hundred and seventy-five, until paid, according to the tenor of one promissory note bearing even date herewith for the payment of said sum of money, that then and from thenceforth, these presents, and everything herein contained, shall cease, and be null and void, anything herein contained to the contrary notwithstanding.

Provided, also, that the said Theodore Lottinville may retain the possession of and have the use of said goods and chattels until the day of payment aforesaid; and also, at his own expense, shall keep said goods. and chattels; and also at the expiration of said time of payment, if said sum of money, together with the interest as aforesaid, shall not be paid, shall deliver up said goods and chattels, in good condition, to said Paul Ranslow, or his heirs, executors, administrators, or assigns.

And provided, also, that if default in payment as aforesaid, by said party of the first part, shall be made, or if said party of the second part shall at any time before said promissory note becomes due, feel himself unsafe or insecure, that then the said party of the second part, or his attorney, agent, assigns, or heirs, executors, or administrators, shall have the right to take possession of said goods and chattels, wherever they may or can be found, and sell the same at public or private sale, to the highest bidder for cash in hand, after giving ten days' notice of the time and place of said sale, together with a description of the goods and chattels to be sold, by at least four advertisements, posted up in public places in the vicinity where said sale is to take place, and proceed to make the sum of money and interest promised as aforesaid, together with all reasonable costs, charges, and expenses in so doing; and if there shall be any overplus, shall pay the same without delay to the said party of the first part, or his legal representatives.

In testimony whereof, the said party of the first part has hereunto set his hand and affixed his seal, the day and year first above written. Signed, scaled and delivered in

presence of

SAMUEL J. TILDEN.

THEODORE LOTTINVILLE. [L.S.]