, 1872-11-08

Withdrawn from store yesterday for city con-
| sumption: 6s6 bu wheat 1,O35 bu corn 1887
bu oats.
The following grain has been inspected into
store this morning, up to 10 o'clock 1856 cars
wheat 50 cars end 5000 bu corn 16 cars oats !;
cars rye; SO cars barley. Total (366 cars),
149, 600 bu.
We referred this morning to the advieabilty Of
taking stock Of the grain NOW in store in this
city, because the present is the most favorable
time ne will have for many months to como.
Tho proposition met with Endorsement to-day
from many Of our most prominent operators in
grain; and the necessity Of finding out some
way in which the receipts and shipments may be
made to correspond moro nearly than they now
do was also conceded. But it is evident that
stock-taking would bo OF little value.
unless we should also be able to
know for how many bushels Of grain the eleya-
tors are LIABLE And herein is the trouble. Hold
ers OF receipts for grain are generally very
much averse to letting others know how much or
how little grain they do hold acknowledgements
for, because such knowledge would often operate
to their detriment on the market. As an in
stance OF this, We may note the fact that tho
committee appointed in the Hugh Maher case,
after the burning Of the Iowa Elevator, were
obliged to make four separate appeals before
they could obtain the statements re-
CURED from the holders Of receipts.
It would probably BE- not SO difticn1t il
another elevator should burn down but would
1t not be much better to hayo an understanding
y7eW OF the situation now than to wait till an
pleasant revelation is forced upon us? Woought
to nave mad comparison instituted between
receipts and stocks at the time the registry sys-
TEN went into effect. That measure efectually
prevented the issuance Of receipts for grain not
received into Btore, and il we had only been
able to start fair at that time, the public would
haEs g asa Except rs Tba % aSsna hep s7e dd
collation. of Saespts &bs recent eops Cohesion es
of the warehousemen: whereby they furnish the
Shipments are made, obyiates that difficulty, and
now the chief thing wanted is to know that there
are no more receipts outstanding than there is
grain in store to meet them. f We could have
ground for cavi1ling in the future, as,
under the present system, the issue
and cancellation Of receipts must keep
even pace with the volume Of the grain move
ment. But it would do this all the same whoth-
er We have superabundance of paper out or
not If there be no more receipts out than
there ought to be, then in q year from now the
account will be square. But if there should be
now out liabilities in the shape of paper, for
half million bu of corn more than there is in
store, then the Same state Of things would exist
year hence. There is nothing in the present
system that will remedy a pre-existent wrong !;
it is only calculated to prevent that wrong, if
there be one, from growing larger.
It surely cannot be, as limited by some, that
the majority of reccipt-holders are afraid to in
stitnte such an examination, lest there should
not be enough grain to so around in the distri-
button that would inevitably follow the inrcsti-
cation. The difficulty. more probably, lies in
the before-named unwillingness Of dealers to let
others know the extent Of their dealings, and
just how they stand, because that exhibit would
at once show whether they are On the beat or
the bull side, and render it impossible for them
to operate in many cases, except under coz't- Of
broker. But thero is also another reason :
and that is the natural inclination of most men
to s'let well Alone" especially where it costs
little trouble to Interfere with it. But, in !
this case, we may be pardoned for asking !
tho question, If they ere al satisfied that
the situation is SO well that they
can afford to let it alone. and take the chances
strange that men who will work for q week in
the effort to correct an error Of five cents IN !
their own Office balances, should be ablc to stand
by for months and years, and pass from hand to |
hand grain paper about which they have even |
the ghost of doubt. It is an enigma which !
it requires business man Of no ordinary ac1- t
men to solve.
It would not be fair to drop the subject with
out noting hero that while there are several of |
our warehouses against whicl, not breath Of |
doubt has ever been whispered. it does not ne |
cessarily follow that any man is believed to be d
rascal, because bis accounts aro looked into. |
There is not a man on the Board Of Trade whose
affairs have not time and again been
eubiected to the most rigid scrutiny, |
though not always with Ills direct knowledge, /
and It is understood that he invites such scr1,-
tiny from parties who are asked to contiGe ip
his ability or business honor to fulfil his engage
ments It follows that no warehouscman who
knows he is eight, will have the least objection
to the fact being known; SO that the receipt |