The furs come from every State in the Union, from every Province in Canada, and from Alaska, being shipped in, during the trapping season, at the rate of about two thousand lots a day, these lots containing anywhere from five to five hundred pelts each. The lots are sorted, arranged in batches according to quality, and auctioned off at sales, which are held three days a week. Even Massachusetts, Rhode Island, Florida, and Texas supply furs, but the furs from the north are in general the most valuable. This is not true, however, of muskrat, the best of which comes from the central and eastern States. The sales are conducted in the large hall of the exchange, where the lots of furs are displayed in great piles. The skins are handled in the raw state, having been merely removed from the carcass and dried before shipment, with the result that the floor of the exchange is made slippery by animal fats, and that the olfactory organs encounter smells not to be matched in any zoo--or school--the blended fragrance of raccoon, mink, opossum, muskrat, ermine, ringtail, house cat, wolf, red fox, gray fox, cross fox, swift fox, silver fox, badger, otter, beaver, lynx, marten, bear, wolverine, fisher--a great orchestra of odors, in which the "air" is carried most competently, most unqualifiedly, by that master virtuoso of mephitic redolence, the skunk. I was told that about sixty-five per cent of all North American furs pass through this exchange; also I received the rather surprising information that the greatest number of skins furnished by this continent comes from within a radius of five hundred miles of St. Louis. It was in this Fur Exchange that the first auction of government seal skins ever held by the United States on its own territory, occurred last year. Before that time it had been the custom of the government to send Alaskan sealskins to Europe, where they were cured and dyed. Such of these skins as were returned to the United States, after having undergone curing and dyeing, came back under a duty of 20 per cent., or more recently, by an increase in the tariff--30 per cent. And all but a very few of the skins did come back. It was by action of Secretary of Commerce Redfield that the seal sale was transferred from London to St. Louis, and a member of the firm of Funsten Brothers & Co. informed me that the ultimate result will be that seal coats now costing, say, $1,200, may be bought for about $400 three years hence, when the seals will no longer be protected according to the present law. Some interesting information with regard to sealing was published in the St. Louis "Republic" at the time of the sale. Quoting Mr. Philip B. Fouke, president of the Funsten Co., the "Republic" says: