The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1865-11-17
finmtid a1lS G61lnlsrtid.

Chaeago Qraan Elsva4oxs ana che DauA.
agea oxaAA.
1er some time past 1t has bssn svidsnt That the
WarsAosssnsn in Chicago were trying 70 Ct The
advantage Of the grain dealers throughout tho
West, undsr the pretsncs thst the srain in their
elsyaAors Was in . DANCED condition, and in order
to compel them to sscrihoe their grain, entered
into combination among themselves to advance
their rates to i cant. per bushsl for svery i've
days that il remained in their warehouses aftor
Nov. 18th.
We extract the following from the Chicago
Ts~es:
Some time since, the warshsasnAn esys nstidp
that al grain resolved into the elevators prior 70
Nov. !, which remained in the elevators Aftsr Nov.
Is, would Be charged storage ct the rate Of cent
per bsshsl for each ave days, or parts thereof,
which il should rsuain after that date
Now the grain u store represented by receipts,
the time when 1t was placed in store; and these
receipts Of the warehousemen are bought and sold
daily to the extent Of hundreds of thousands Of
Bushels, without single sample OF the grain being
exhibited. The buyer buys solely upon The date
Of the receipts and tho inspection and although in
this instance the mere date Of the receipt makes .
difference Of from &c to l6c per bushei II the value
the date and again sell the receipt would probably
lay himself liable TO the penalties of criminal
statute.
No such liability, however, attaches TO ths
warehousemen. After combining together in
charging rates Of storage which depreciste ths
value Of those recsipts they can send broker
into the market to buy them up ct their deprecated
value, and then cancel them, and new receipts
with different dates in their place. This simple
operation will raise the value Of grain represented
by the receipts from &c to Ice per bushel, OWNS
to kind and grade, all Of which goes into hepockei
Of the wsrehosssmen. II there 10 anything less
criminal in the cancellation by . varehouman Of
any old receipt, and the issue Of new receipt in
its place under different date, than there would b
in the removal Of the old date by acids and the
substitution Of new date, by any party through
whose hands it passed, cannot detect the differ
ence. BY one process the man who happened T.
be the owner Of the grain to-day, is robbed to thu
extent Of &c to Ice per bushel, and by the othel
process the man who happens to become the owner
by purchase tomorrow ia robbed to similar ex
tent. In either case it 10 robbery. 1t IL nov
charged openly on Change that the action of ths
ator in seeking to impose this Outrageous rat4
Of storage, was TO certain extent designed to de-
precAte the vaiue Of these receipts that the ware
housemen might buy them mp, and BY the subssi
tuition Of new receipts gil their pockets with thou
sands of dollars.
| Inc warehousmen nnding that their action VA
to be taken up by the Board of Trade, concluded
to modify their former notice, which viii Be seer
from the following resolution, from the manager
of the Grain Elevators, published in the Erssi.s
Journal Of the 18th.
| The President Of the Board Of Trade read OF
Change to-day the following:
AT meeting Of the proprietors and mansgen
| of Grain Elevators held this morning, il was
| "kesofred, That alPGrain received in store pre-
| vious to November l, 1865, and taken out befors
December /, 1865, shall be charged only the usaa
rates Of storage.
| "CHIcAeo, November Is, 1855"
This is merely an extension of the notice here
tofore publshed, and has been adopted for the par
| pose Of allowing more time for the removal o
damaged grain. All grain received previous t,
November LIST and rcmaing in store December Is
will be charged 1t the rate Of lie per bushel fo
every Eve days, commencing November Is. ",
hope this arrangement will prove satisfactory I,
all concerned. This constant wrsngling which y,
| have had Of late win most assurediy have bst
effect on the grain trade Of Chicago, by divertinI
| grain to other points which ought to come here
Outsiders are prone to look upon such matters in
the worst light and for the benefit Of all concerned
il is to be hoped that the wsrehousemen and grair
receivers will hereafter act more tremendously fo
| their mutual benefit.