The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1895-11-15

Only one Cent argin--lndepend-
emit Buyer Talked of--Retail Mer-
chants Start the Move.
Late Thursday afternoon COM
mittee consisting of Geo. E. Brett, j.
b. Richards and Hans Jorgensen
called at the office Of the Hubbard
Milling company and had a long con-
ference with Messrs. Hubbard and
Palmer in regard to the prices paid
for wheat in Mankato, The COM
mittee represented number of the
retail merchants of the city, and were
appointed to consult with the Hub
bard Milling company and ascertain
whether something could not be done
to raise the price paid for wheat in
Mankato, with the object Of drawing
farmers to the city from a longer dis
tanre and thus increasing the retail
business of the city.
During the conference the COM
mittee offered suggestion that few
Thousand dollars might be raised to
assist the company in raising the
price, or that this money might be
used by an independent buyer. Messrs.
Hubbard and Palmer went over the
situation and gave detailed explana-
tion as to the prices paid in this city
compared with those paid elsewhere,
the grade allowed, and the margin of
profit. The price paid in Mankato
was not equaled anywhere except at
St. Peter, Eagle Lake and Lake Crys-
tai, where they are the same. The
price has been steadily maintained at
seven cents under the Minneapolis
market, and as the freight rate is six
cents per bushel, the margin of profit
is only one cent. They suggested that
the best way to secure higher prices
would be to secure a reduction in
freight rates, as what was saved
in sfreight trates. could be added
to the prices paid. They sug-
gested that the committee should
visit neighboring towns and investi-
gate for themselves, as was done by
several gentlemen year ago, when
the Mankato market was thoroughly
indicated.
The committee will make report
within day or two, when it will be
decided what further steps to take.
There is some talk of raising purse
to put an independent buyer on the
streets.
A merchant who is in the move said
to the FREE PRESS today, 1.-THE
agitation for higher prices for wheat
has become general among the retail
dealers on Front street, and a meeting
was held a few days ago at which the
committee was appointed. All were
not present at this meeting, but
enough were there to stir up matters
considerably.
"We feel that something has got 10
be done to bring more of the farmers
to Mankato, for though business is
better than it was year ago it is not
what it ought to be at this time Of
the year, and the increase is not pro-
portionate with the increase of bust
ness in the small towns around us. If
the price paid for wheat could be ad-
vanced three cents it would attract
the farmers from long distances, and
our streets would be full of teams
from end to end. These people would
come from such long distances that
they would be obliged to remain over
night in Mankato. When it is re-
membered that load of wheat is
sixty bushels, an advance in the price
of three cents would mean $3.50 a
load which would warrant the farmers
in coming long distances.
"We would be willing to spend g.
900 to 81 900 or some such an amount
to bring this about. If we put an in
dependent buyer on the streets we
shall not do so to make anything but
to give the farmers the full margin,
and we will expect to spend what we
put into it. 1t would we'll pay every
man in Mankato to put dollar or two
into such pool. The way the prices
are now, the farmers from five miles
this side of'Rapidan go there although
they get no more, because the road is
better, but roads would not count
with higher prices. What is true in
that direction is true in other direc-
tions."
Another gentleman who is well
posted on the situation, said: "The
fact is that owing to the large crops
of everything, the merchants put in
unusually heavy stocks, and the trade
is not what was expected. Every
kind of produce brings a phenoemnally
low price, and the farmers are holding
their crops rather than market them
at nreSent DriceSn