The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1891-02-01
Total values.

!
Total values. 2S6,S2i n
! This table shows that of 1858. 900. 00C
worth of staple farm products shipped to
| and through Chicago in 1888, but 20 per
| cent were articles subject to option sales,
! while 70.7 per cent were sold without aids
which the Boards of Trade would fain
have us believe are necessary to the farm
er's continued existence; the profitable
! operation of the instruments of transpOr-
| tation, and the welfare of the community.
| The memorialists lay great stress upon
/ the difficulty OF selling grain by sample,
| stating such to be the alternative
in case purely speculative contracts
are prohibited, but sample sales would be
no more common than now as all grain be-
| low grade is sold by sample as is much
of the grade grain sold for cash, and grain
| will continue to be inspected and sold by
grade; still necessary the Sl2,0OO0O0 worth
of wheat reaching Chicago could be sold
by sample as readily as the $2l 600, 900
worth of butter, as could the Sl5,0O0,0O0
worth of oats, as well as the Sl4 500 OO
worth of hides and wool, each hide and
fleece being subjected TO separate inspec-
| ton, as is every package of butter, while
grain IS inspected and sampled by car
loads.
The writer has had much grain sold,
both by sample and grade, the cost of sell
ing and the price received being the same
in either case. This is but an imaginary
difficulty as it Is that raised in relation TO
procuring advances, as capital will more
readily seek such channels and at lower
rates, when prices tluctuate less and trans
portation companies depend on real not
fictitious freights for revenue and farm
products being sold instead of tictiOns
will lessen neither the volume of such
products transported or consumed, or the
carriers revenue therefrOm although it
will lessen, very materially, the tribute
levied by the rpeculator and commission
seller of options
To the S256, 900. 900 in value of farm
products shown to be exempt from option
sales should be added at least $50, 0O00O
worth of dressed beef and hogs, milk,
poultry, eggs, fruits, vegetables and vast
quantities Of other products of the
farm marketed at or through Chi
cago, justifying the assumption that of
the farm products reaching the great
markets, fully three-fourths enter into
consumption without assistance from this
peculiar commercial method. report Of
the Chicago Board of Trade 1851
The report quoted shows that during the
five years ending with ISIS, there was
grown II, 04O, 900 bushels of wheat and
corn, of which 1917 900, O0J bushels, or 50
per cent only. reached the eight interior
Board of Trade markets, and much Of this
was doubtless counted twice as grain is
shipped from one such market to another,
and Chicago and other cities are under
stood TO include in their receipts much of
the produce in transit. The grain reach
ing the seabOard markets can not be
counted as it has been included, once if
not twice, at interior points. hence 10 fol
lows that Boards Of Trades aid 70 the ex-
tent Of less than 10 per cent in marketing
farm products and granting the sub
Cfta FTul Fras
eminent INTERCHANGEABLE yearly distributes
millions of dollars worth Of farm products
10 consumers-"That the effect OF option
sales is to reduce by more than 40 per
cent, the value of all the grain, cotton and
swine grown, and that in the past ten
years the farmers OF the United States
would have received -, OOO. O00. 900 more for
come prominent and profitable method
of fixing values The farmer would be
the gamer If every Board Of Trade and op-
ton dealer ceased 10 exist and o
per cent Of his grain and cotton
was permitted to rot in the field.
thereby saving the cost Of harvesting and
marketing that percentage, while tie re-
mainder would sell Tor more than would
the whole if subjected 70 the balefui touch
of the option dealer: hence 70 cannot work
a hardsh hip to the producer 20 be bereft Of
the option dealers market
If 90 2 per cent Of the grain grown, and /
IS per cent Of all farm products reaching
the large cities can be readily sold without /
being made footballs OF By bands Of specu- /
latOrs, why not the small remainder
II the 81 0o0, 90 bushels Of wheat which /
reached Chicago during ISIS in the form /.
of -four. could be readily and economically /
handled without being made the subject 4
Of option sales, why not the Is, 0JO, co 4
bushels which reached the same market ia /
its primary fOrm2
II n ISIS Chicago could, without the aid +
OF option dealers. furnish buyers FOR "a
90 coo worth oi pork q the form q swine, 4
why should IL be essential 70 the farmer .
that tae 81. 600 q worth ia sec
ondary form should be subject 70 the %
ton dealers maripu!atiCns7
IL - readily seen why -four and ~ ue
escape the direct touch OF the option deal
er The moment wheat i converted luto T.
-four aud marked with the Ililers brand .
IL is severed from the mas Of I'D .stln-
guishsble grain, and assumes an ln4lvlc-
lal character. and the option dealer hav-
inE the hzrCIi hood 20 sell 1000 barrels 81
81 Pl!lsbury's Best" short. would fad bira-
self a. tie mercy Of the miller owning
such brand in case rbe party
holding tie contract should t1-
sis- upon specific perfoTmaDce- let
the prlce Of -four "a cstsrmiuec By TIE
option dealers manipulation u the wheat
market.
Although swine cannot be shipped 20
stored and advances procured-as
The memoriAl4s.s assure Us Is necessary r T.
order 20 enable the farmer % market his
pruduc-s--A3d theIr inclination % rsIu vso-i
.eutly down a step hi4l prevents the op-
-ion dealer from inc. gding them 70 as
short sales. the farmer manage 20 market
as swine aud other animals cutie ss
readily and probably a. &c dos H. srs.u-
nAb.s % make tie box subject - rs
-ne- ho1s. the option dealer make ample
amends when tAe az IA hAs beeu c1rvert-
- into secondary product. but q - si1Ez-
ar That While be sells PORK. ard add nAc1n
short. slch pa-ts Q; ths sulEe A. ckLFas-s,t
bans. sausage, p&gz feet. etc. Rus - c8s-
posed q oy such Es-soeS a. obtained y