, 1870-01-22
TIE GRAIH ELEVATORS,

16E C$1h21 .GAIsfd dAu09s
The grain-dealing community are ex-
perienclng one Of their periodic excite
menta in regard to the corrupt practices
and nnnipu1ations Of the grain markets by |
the elevator men. The Immediate cause Of |
the excitement is unimportant, but it
hns called outthe renewal Of all !
the charges that have been go frequently
made against the elevator interest Of this |
city, viz That when grain is carefully !
weighed al interior points, and shipped IN
tight cars, it invariably falls short from
three to four bushels to the chr when
weighed here into the elevator that,
evep when the warehouse receipts nre
issued for this diminished quantity, the re-
ceipt is no guarantee that tho holder will
Get The number of bushels Of grain that it
calls for, because, in weighing out" OF the
elevators for shipment, or for consumption
in the Cit, the grain, when weighed by other
scales than those used by the elevators, does
not hold ont, but falls short as much more
as II did in the 6sst instance that the pres
snt system Of grain inspection is worae
than farce and that large quantities OF
/ grain which are inspected As being
Of certain grade, on being taken
into the elevators, arc issued to hold
ers Of receipts aa grain Of higher grade :;
snd, finally, that the warehousemen
arc speculators in the grain market, and
are generally on The !" beaz II side, because
their position enables them to depreas the
market by The over-iasuo OF warehouse
receipts. and also by setting rumors aaoat
in repard TO the heatina af grain. Ihs
1wo First Of these abuses, it is alleged, are
regular and continuous practices, while the
two last are only periodic, and are engaged
in when the condition OF marketa else
where ia favorable to success. The alleged
mode Of operations in the over-lssuo O
warehouse receipts Is, usually, thai
the wa1ehousemen issue Whist art
called 'gpIt receipts" is
receipts upon which there is no record Of ths
numbers Of the cars in which tho grain ws:
received, uor, IN fact, any clue to where
the grain came from, but simply the agree
ment Of the warehousenaan TO deliver, say
Eve thousand bushels Of wheat Of certain
grade to John Smith, or whoever the con
tideptial friend or ostensible operstor in thu
market may be. Theee receipts or carti6-
catef, issued IN large numbers and sold a
/ once in tho market, have the same effect as
an Increase of the actual amount Of grain
and, it ia alleged. break down thu
ua1kst price to point where ths
, warehousanaen can afford TO buy then
back at . large decline on the price at which
were sold they, In the meantime the ware
hopseman can defy the public to enter his
premises without legal proceedings, ami
) during the laws delay the whole specula
tion is finished up and the numbey Of re
. ceipts held hs II IL public ia made to CORE
| epond with the actual amount Of grain il
the elevator. The position Of the elevate
.. men enables them to exclude the pubh
from sny intelligent examination Of the'
:. premises, and go gives them the e1eluav
information when any portion OF the graz
in their keeping may be in bad condition
= Assuming, for instance, that one@tanth 9
the com in certain elevator is discovered
. be in bad condition, the wafehousesnA
having the e1cludvs information as to wha
i. proportion is so, may encourage the circu
o lation Of the 1unor that the whole OF 1t l
r in The sasne condition. II any purchase
| Of warehouse receipt presents Il and d