New Ulm weekly review. [volume] (New Ulm, Minn.) 1878-1892, 1888-02-22

their control OF the local markets through
out the territory; there was no protection
TO The producer, and the cheating in grades,
dockage and eghrs grew more The new
grain warehouse law brings the management
of The elevators within the reach OF the pub
lie. and provides means for checking many
of the abuses of the past The new law
provides that all elevators storing grain fol
compensation shall give good and sufficient
bonds, and secure license from the railroad
commissioners. Before there was
LACK OF SECURITY
for grain which was stored in elevators Fol-
the first time in her history Dakota has a set
of standard grades All owners of ware
houses who have complied with the
law by taking out licenses admit that
commission are OF great benefit to them,
Instead OF a drawback, as at first supposed.
Many of the disputes existing heretofore be-
tween the farmers and elevator men will be
avoided i'll the future. Several railroads re-
port the number of bushels of wheat carried
from Dakota from Aug. 1 TO Nov. 10, 1887,
as follows:
Burlington, Cedar Rapids & Northern. 255,756
Chicago, Mil d St. Paul (estimated). s. 200
Chicago d orthwestern. ....2. SS2,336
Minneapolis & Pacific ................. 21S,S50
Northern Pacific Sept. to Nov. Isl. 2, 91O.254
St Paul, Minneapolis & Manitoba. 6, 0OO, 00o
The number of bushels of wheat at pres
OF Dakota is over 2O,o0O,O0O; add to the
above amount the wheat yet unthreshed.
and that stored in private granaries, and the
5000. 900 bushels necessary for home con-
SUMPTION and seed for 1888. and IL makes
SO, 900 900 bushels, a low estimate for the
year 1888 sWhat shall be done to relieve
the people of the embarrassment and loss
through wheat blockades?" is the question
heard on all sides. During the shipping
season the large number Of cars of wheat
FRO a.
Duluth, St Paul, Minneapolis and Milwau-
kee. As one of the remedies for
like difficulties in the future, the
commission recommends thai every
farmer who has not a granary OF his own
build one before the harvest of 1883. The
material for granary capable of holding
two thousand or more bushels of wheat will
cost at the rate of two cents per bushel-
less than the price paid for storage in one
season-and will serve the farmer a double
purpose; first, it will, in a measure, keep
the knowledge of the number OF bushels of
marketable wheat from the speculative
members of the boards of trade in Eastern
wheat markets and will thus keep the price
of wheat out of their control. 1t will also
put "a stop to
CORNERS IN WHEAT.
Second-If every Dakota farmer had his
granary he could clean his wheat, thus saw
ing the dockage and the needless charge for
transportation of the same; his wheat would
be in better condition for the market, and
he could employ the time during the early
fall months occupied in getting it to the
markets in preparing the soil for next sea-
suns crop. While cash wheat for November
in Duluth and Chicago has been quoted at
20 and ~ cents, the same grade Of wheat for
May delivery has sold for SO to 81 cents per
busheL The farmers may urge that pressing
obligations with high rate of interest COM
pei them to rush the bulk of their wheat to
market within sixty or ninety days after
harvest. but such action places them
at the mercy of the wheat
dealer, who can buy the same
grade of wheat in a glutted market for 10
or Is cents per bushel less than he could six
months hence. Which is the greater sacri-
ice, 10 per cent per annum on borrowed
capital, or so and 40 per cent that he loses
on the price OF his wheat in an overstocked
market? The commission does not wish to
be understood as advising the farmer or any
other person to take chances on the future
price Of wheat; but it does desire that the
farmers OF this territory should receive
every cent for their wheat to which they are
justly entitled. general system of private
granaries would enable the farmer co place.
his wheat on the market so gradually that
wheat dealers would have purchasers at his
doors, instead of his being obliged to beg
elevator men and railroads to take his grain
Wheat raising would then be on profitable
basis. The commission believes that if this
course should be adopted it would advance
the price OF every busheI of wheat in Dakota
at least 10 cents per bushel-a saving OF
millions OF dollars to the farming class IS