St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-10-06
TAKES THE STAND AGAIN.

-. "A. HISUury Stlil Trying TO heC-
oncile Those Two Letters.
When aman starts to explaining he
never knows when TO stop. This has
been proven TO the satisfaction of every
reader of the papers since the great
wheat exposure regarding Charles A.
Pillsbnry, the big Minneapolis miller.
Mr.. Pillsbury started in to explain two
letters. that are contradictory i'll every
point. One said the elevators made 80,
40 and so per cent. while the other de-
clared that they had been losing money.
One was written in April, 1889, and the
other in June of the same year. In
new letter on this subject, which APP
pears below, Mr.. Pillsbury states the
reasons that induced him to write these
strangely contradictory letters so
closely together. ot,ae
If MIR. Pillsbury's statements are cor
rect, why did he not tell Stuart, the
foreign banker, that tile profits of the
elevator companies previous TO 1889 had
been 80, 40, and even so per cent, but in
that year they had been worse than
nothing?
This would have been honest.
If the facts are true as stated by Mr..
Pillsbury, why did lie not tell MIR. Az
mold that, while the elevators had lost
in 1889, they lad III previous years made
tremendous profits?
But here is MIR. Pillsbury's latest eX-
PLANTATION:
Again Charley Explains.
To the Editor OF the Globe
L notice in your paper Of yesterday an
item in which you state you hoped
would find time to answer the letter of
Thomas Wright. dated Sept. q. would
state for your information that | did
find time to answer it, and answered it
promptly on Sept. 20. and below give
you copy of the same, which shall be
happy to have you publish:
MINNEAPoLIs Mimi, Sept 90 1s9a.-
Thomas Wright 120 Rialto Building, Chi
cago Ul.-Dear Sir: have yours of the 9th
inst, and in reply would say that the Min
neapoiis Millars' association was dissolved
many years ago
In regard 10 my testimony before the con-
gressional committee, l do not remember
that l ever characterized the Chicago board
OF trade in uncommerciai terms. The most
SAID was that parties whose offices were in
their hats might stand in q wheat pit and sell
as much wheat rs the largest miller in the
world; but be that as ii may, it has nothing
to do with the case in question.
Now, i'll reference to the latter clause of
your letter. i would state, that if you read
those letters carefully you will find that the
letter to the Larimore farmer and the Credit
Lyonnaise are not contradictory in any re-
spect In way of explanation, would say
that our business year i'll the elevator bust
ness runs from August OF one crop until
August of the next crop. Down 10 August,
1888, our business had been quite profitable,
and IN answer to Il pretended letter from the
Credit Lyonnaise, in which the questions
were asked as to whether the elevator COM
panies were i'll prosperous condition: If
money could be safely loaned them; when
their requirements for money. were the larg-
est. aid what dividends they had actually
paid during the last five years. / said that the
Minneapolis u Northern Elevator COM
pany had averaged during the past six years
Il 30 per cent dividend which was strictly
true.
Now, the crop commencing with August,
1883, was the celebrated frosted wheat crop.
We had never handled that kind of wheat be-
fore, and we filled orr elevators during the
fall and winter with wheat that had been
slightly frosted. When we came to ship it
out in the spring. as we always do. a large
portion of this wheat went back on us one or
more grades, and not only our elevator COM
pany, but all of the elevator companies in
that section of the country, lost great deal
of money. Then, again, the good previous
years had stimulated elevator building to a
great extent and in the Larimore section
the crops had been light for some years on
account of drouthS, frost, etc., SO that at Sta
tions.where there used 10 lie only two or three
six. l stated that our elevators bad not paid
well. which is absolutely true as regards the
year from August, 1883, up TO that time. This
letter was true. In short. | eau prove to the
satisfaction of any impartial committee that
both the letters were substantially true. and
I want to do this before the directors of the
chamber of commerce, or any proper com
mittee. l understand that some one has to
bring the case before them. Are you willing
TO do this! Yours truly,
pur1