The great West. [volume] (St. Paul, Minn.) 1889-18??, 1893-12-15
THE SELLER-BOARD.

What the Producer Must do
n Right Speedily.
In response to requests from every section Of the
country give this week analysis Of the matter Of
Seller Board to protect the interests Of the sellers he
producing seers) against the unrghteous and immeas
ureabe power of the s'purchaseseers" at Chicago.
We use the word "purchaseseler, y and it is con-
Trajectory term But the word is fairly descriptive,
will be seen hereinafter.
In order to convey to the producer reasonable
conception of the tremendous power that lies within
their grasp, will give preliminary explanation Of
the method and purpose of the Chicago monster. Our
experience in relation to Boards Of Trade and Stock
Boards came to US employe from 20 to 80, and
as commercial editor early as '66, when but II
years Of age. $:
The original idea of g. board of trade was cham
Der of commerce. where dealers met to exchange ideas
and goods 1t never organized for, nor occupied
by, the producer of material. 1t speculative
from the rsthe pivotal ideafrom the beginning being
this "How cheapy get such goods and dispose of
them at a proft?" And from simple gatherings for
conference the present colossal and oppressive swndles
have developed.
The producer has never had an organization to
protect his commercial interests He has always been
mighty cushion upon which Skill and Craft could st
and bounce up and down at will The Grange was q
gentle affair for universal goodand prepared the path
way for giants to develop. The alliance such giant
of educational character. But with all it's vast
bershp and enthusiasm it has been able to get to
gether bushels of wheat and charter schooner
to clear profit OF 2Oc bushe And even when the alb
solute destruction of the Chicago Colossus within
their grasp they let such tools OF plutocracy as Ig
Donnely divide them-puppets Of the Chicago Board.
In the evolution of intelligence it is time to for
q commercial organization, which will stand q unit
OF sale against the vast wrong OF the seerpurchase
THE SELLER PURCHASE SYSTEM.
It is set forth that the Chicago hell is not wholly
gambling den-that wheat is actually bought and sold
there 1t may be-in the pit, which is the real board
but we any bought there The crop of the
tire west is sold there Why it is not also bought will
appear further There tables on the floor of the
Board off side and usually samples OF wheat
the tables. Mlers and exporters being members of the
Board make many purchases around these tables, on
samples This is "cash wheat has it's quotations.
and has nothing whatever to do with the hell The pit
prices often above the cash prices for weeksrarey
very far below. Pit option prices have power to
draw prices up
We will now illustrate the seerpurchase operation.
Referring now to actual dealers, who lines of
elevators, and do not depend upon gambling for income
we will give the simplest method of their business. At
IL O'Clock so, in the forenoon Mr.. Sknnum walks in
on the Board and mingles with the five to fifteen hun
dred maniacs selling bidding wind" wheat He SOL
iloquYzes thus "Let me see, in my thirty elevators
will get in tomorrow hundred thousand bushels. II
will therefore sell hundred thousand here my wheat
buyers do not get in that amount buy against
the shortage and vice versa" So he tells his clerk to
Jump into the yelling circus and SELL Suppose the smar
ket' to be 62X He begins shouting, scramblng and
bowling, "2X, 2X, =, X,I r. III" He goes down until
takes him. 1t is nothing to him how low it
goes His todays deals all cleaned up, and he owns
not bushel of wheat at this moment He goes to his
office and makes out list of prices to paw tomorrow
for the hundred thousand Sold He puts the price to be
paid to suit the price already sold for It is seller
purchase One performs in both rings and as ring
master. He sells the real wheat in market where q
thousand times the crop is sold and practically
bought-and then adjusts his purchase prce II wheat
goes up he sells both the option and the wheat with
profits on both deals. II it goes down he delivers the
wheat at his set profit.
No elevator lines lost any money unless they
were seduced into gambling.
THE PRODUCER
u the only on earth who permits such an iniuuity
Suppose we're to 60 down to Secy Stone, and say:
sMelville, you know that elegant house built BY Mr.
Cornwen Wheaton Messporc, on Calumet Avenue7 I'LL
sell that place to you for $3O,O0O."
Melville Stone would look up into our lace and say
"Dr, you don't own it-and it is worth more money.
eGreat Scott mani" we shout; sdo you folks own
the property you sell ?are you contract agents?
mo, Dr., but there is no hayseed in our hair. How
would you make Messporc deliver the property your
pricef"
Alas no railway elevator combines Ia real estate
THE EVOLUTION OF THE AGES
has wrought mighty changes in commercial history. ALI
time has come when all the agencies Of tho earth are
ganised except the producer Either he must join n the
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