Idaho tri-weekly world. (Idaho City, Idaho) 1875-1875, 1875-03-19


fornnduew,ssurist;eefer dqE :
merc 3 sips = \ 1actor1or eye
for te la lbldaG Off the ssd1a
Il is 8 order to inquire what they ma!
find TO do and how they may DO II
Rnt frst let us inquire what the asso
citation is. and how it differs from any
other eonraercial Business OF cpml e ! :
sion lho,ase. { The commission houses
generally in this State are compose
Of two on more,psrtners assQelated&o
rether for the estsnsible purpose o
doing the bssiaesS Of factor o.
aoent Of buying and selling produce
and importing and exporting gqodl
for pe6pie who from their Situation
find it more convenient to employ sufl
houses to, do. such business for taea
than to do It themselves. In coaaec
ton with this bssipess Of 7buying auo
selling they generally find it necessa
nv to own or possess warehouses fol
storing such articles as they deal ~
both while waiting sale and after
purchase before delivery. The profits
of the strictly legitimate commission
merchant are all made as commissions
usually At a fixed rate per cent. or %
may Be agreed upon in each particular
case, and charges for storage on goods
placed in the warehouse. Such houses
sre great convenience and . real ne
cessity to the country They are en-
ployed to great advantage, not only
BY the farmer, but country merchants
and dealers and by individuals of all
classes Most Of these houses adver-
tise that they do strictly commission
business. BY this they mean to say
to the public, and particularly to those
who give them business, that they
take no risks BY buying and selling as
q matter of speculation, on their own
account. In other words, they act on
~ in the capacity Of factors or agents
to fu orders. =
Taqs they promise their employers
that iG no event will they, by dealing
in the same line of goods on their own
account as they are buying or selling
for theN, be0omeA their competitors in
business with the advantage all in
their favor. because the business is all
in their own hands. Thus they also
propose to guarantee or assure their
customers of the responsibility OF
their firms or houses, because house
that does only . strictly commission
business is always on the safe side.
The only chance for such house to
fail is for want Of business enough to
pay expenses and make profits. The
rise or fall of goods, such as wool,
hops, wine or grain or other produce,
cannot affect such house except as
to it's commissions. Though these
commission houses generally thus
promise their customers not to become
their competitors in any event. and
thus seek to recommend the rcspon-
sibllity of their houses, probably not
one out cf hundred fultills the prom
Uses or keep good their guarantees in
this respect. They do so perhaps un-
I'll the temptstion for speculation On
their own account becomes too great
for their integrity. These temptations
were presented in various ways, and
the good faith to their employers is ".
plated by thousands Of devices. The
accumulated goods or produce in the
warehouses are often used to bull or
bear thu market, to make corners, or
put up jobs even against tue owners,
and the profit of the transaction goes
iuto the pockets of the factor or agent
together with regular or special com.
missions. Produce is sold ostcnsibIy
to third party, but really in the in.
terest of the factor; or it IS really
sold at a high figure and the return IS
made as sold at later date at a low
er figure, and the factor, as in the 9th.
or case, pockets the profits and com.
mission and charges his principal
storage for goods not in his store.
house. Very few farmers who have
intrusted their business to commission
houses, to any extent, or fol. any length
OF time, that have notsuffered by some
OF these devices of the trade. Exam
pies Ut such bad faith have been 80
frequent, and known cases of such
suffering have become 50 numerous
throughout the country, that there has
grown up a, general distrust among
the agricultural classes of our com
mlsslon-houses, Or houses proposing
to act as factors or agents for buvlnp