In the settlement which was made the greatest accomplishment was the securing of a standing committee on arbitration to adjust all grievances before the employes are permitted to strike, or be locked out by the employers. This is a hard blow to the agitators, whose thrift largely depended upon their ability to create strife and contention between capital and labor. The establishment of a joint council of employers and workmen secures and protects free labor. Instead of the pernicious strike, it was agreed that arbitration should be recognized as the first move in the settlement of differences, and that it was the only true solution of all misunderstandings. As nations never take up arms against each other until they have exhausted the experiments of diplomacy, so the workmen, or their leaders, were made to understand that arbitration was the true course in the adjustment of differences between employer and employe. Associations of employers, as well as associations of employes, may well profit by the experience of the building trades in Chicago. It was a hot struggle, which, after all, was brought to an end by arbitration--an experiment which, however unsatisfactory to the hot-heads, might as easily have been resorted to at the beginning. The employer, and not the Walking Delegate of the union, was given control over the employment of his own workmen. The declaration made at the first meeting of the Master Masons' association, that "the Walking Delegate must go," was put into force and effect by the award made. He has walked his last walk, and his finger has snapped its last snap in calling men off a job in Chicago. The tyrant's power was taken away. The foreman was made the servant of the contractor, who pays his wages, and is no longer the servant of the union, to which he pays taxes. The rights of the employer were recognized and harmony was secured. OUT OF POCKET. The losses to thirty thousand employes and seven hundred contractors during the lockout aggregated more than $4,000,000. They are fairly shown by the following statement: