St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-02-15

Wilson. Joseph Hooking, A. G. Broker
and others spoke in favor of organiz-
Ing and buying wheat on the closest
possible margin. This was the unani-
nous sentiment Of all who We're pres
ent, and the following committee was
appointed TO take charge of the mat
ter: j. j. Meyer A. G.. Broker, Henry
Ebner, c. w. Baumbach and w. H.
Ryan. This committee was author
lied to appoint an executive committee
that would have direct charge of the
business as the agents of the citizens.
The subcommittee chosen was Messrs.
Baumbach, Meyer and Katzky. 1t was
fortunate that the committee had at
It's command the services Of Mr. KatZ-
ky, who Is an old-time wheat buyer,
and he was chosen a committee of
one to grade and purchase the wheat.
He Is a merchant, but for the benefit
OF all neglected his business and went
on the street to buy wheat. The finan-
c1al end of the business was left with
Mr. Baumbach, president of the First
National bank, and Mr.. Meyer. one
OF the leading merchants of the town.
On Sept. 26 the citizens began to buy
wheat and to load it from the side
track. In the meantime the other
members of the committee circulated
the pledge which bound the signers to
pay percelAage of any loss that
might be incurred. 1t was signed by
citizens in almost every walk of life
the barber, the doctor and the ed
ltor standing side by side with the
banker and the capitalist The pledge
and the roll of honor follow:
THE PLEDGE.
Whereas, numerous Complaints have been
maze Dy the producers of i'm in a,yini a.,
and by the business men of Wadena. Mime
sofa, that the price paid for grain at Wadena
Ior some time past has been far below what it
should be, and far below what is paid at other
points where the freight rates to the terminal
points are greater than at Wadena; and
whereas business OF all kinds is being di-
Yerted from Wadena to other points in conse-
quence of said low rates, and whereas the
business men of Wadena and all other inter-
ested persons are desirous of creating as good
market for grain at Wadena at other
points, all advantages being considered and
whereas, 1t will we necessary to employ per-
sons to buy and sell grain and procure money
Ior that purpose, and to make good any
losses and expenses that may be incurred in
the buying and selling of wheat and other
grain, and in the event any gains are made
they be equitably divided upon the closing
up OF sald grain business. Now therefore, we,
the Undersigned do hereby agree to furnish a
3uf1c1ent sum of money to carry on said grain
business, and to guarantee the payment of all
money that may be advanced by both or either
VI thS DdlhS Ill WdueHd 10 tne executive
mittee hereinafter named for said purpose and
in the event there shall be any loss in buying
ana selling grain as aforesaid we hereby agree
10 pay sucn per cent of the money ad-
Vanced as aforesaid and of the expenses and
losses incurred as is set opposite our respective
names. That this agreement NAV be termi-
mated whenever majority of the persons sign
ing the same shall elect in writing and said
writing is presented to the said executive COM
m1ttee. That said committee are hereby en-
powered TO make all contracts and agreements
and to do all things necessary for the buying
and selling of grain at Wadena ''on track, /"
ana also to keep just and true account of
all business by them, and at the end of each
week 10 render statement of all business
transacted by them during said week and to
submit the same to an auditing committee to
be hereafter chosen. That said executive com
mittee are hereby limited to incurring any liza
bilities except for the purposes above indi
Gated. That until removed by majority of
the undersigned, the following named persons
snail constitute said executive committee viz.
M. ). katzky, W. r. Baumbach and j. j.
Meyer That in the event any gains shall re-
suit from said business under this agreement
upon It's termination said gains shall be used
or divided, as majority of the undersigned
shall determine at a meeting to be called NV
said executive committee.
Dated this 26th day Of September, 1885,
Taerchants National bank, per cent; First
National bank, per cent; Meyer C Coon, Z
per cent, merchants; Muzzy G. Ryan per
cent, hardware; Nick Wagner per cent.
clothing; Ed Staples, / per cent, barber: L.
L. Benedict, 2 per cent, druggist; L. w. Bah
ooc COCK oo1t per & cent, doctor; W. H; Harris, 2
land agent and loans A. Nathe, 1 per cent.
harness shop; Charles Nathe, 2 per cent
saloon; NJ. Williams, per cent, saloon;
Louis Erickson, per cent, shoes; A. r.
Wiswell, 2 per cent, capitalist; T. G. Coch-
ran, l per cent Central house; J. Katzky 4
per cent, merchant; r. F. c. Hts per cent.
druggist; Charles Northfoss & Sons, per
cent, proprietors electric light plant; R. e.
Jones, 2 per cent, hotel; T. J. Lux & Co.. 2
per cent saloon; A. Aller, per cent. Wa
dena hotel; w. j. Dell, 1 per cent, barber;
Arvidson. per cent. blacksmiths William
HON, per cent, liveryman; G. G. Eastman
l per cent Wadena Pioneer; S. Buttruff &
Sons, per cent, furniture; Brockhoff &
Holler, per cent, hardware; G.. M. Migge
per cent, butcher; Coppernoll & Wilson 3
per cent, attorneys; John Liddell & Co.. 2
per cent farm Implements; ]. H. Montgom-
cry, 2 per cent, livery; A. N. Baumbach. 8
per cent, grocery; A. G. Butler, 1 per cent,
harness; Wadena Lumber company, per
cent, lumber; H. ]. Sottong, 2 per cent,
merchant; Lars Ericsson 2 per cent bakery:
Weizel G Santerre, per cent. merchant
millers; l.. Kramer, per cent, millinery.
ADVANCED THE PRICE.
The forty-one signers guaranteed 1O6
per cent Of the possible loss, and the
number and percentage could have cas-
lily been increased, but the committee
was satisfied when it had overrun the
amount. The first day the citizens
bought wheat the price for even grades
advanced three cents a bushel and the
grade was raised from No. northern
to No. 1 northern. Farmers came from
miles around and in six days the citi-
zens bought, loaded and shipped twen-
ty-six carloads Of wheat. The elevator
companies met the prices paid by the
citizens, after they had sat for two or
three days and watched the wheat flow
ing past their warehouses. The mar
gin between the local and the terminal