The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-09-30
Low PRICE OF WHEAT
o. A. PILLsBURY SAYS THERE IS
NOT A BULL LEFT ON
EARTH
SHORT SELLING CAUSED 1T

Commissioners That Wheat
Grading Should BE Abolished
Claims That Selling by Sample
Is Better-High Prices Suit Him.
In his statement before the state
railroad and warehouse commission, In
vestigating the complaints Of farmers
in the matter of grading wheat, Charles
A. Pillsbury, of Minneapolis, said,
among other things, that the sitter the
grading of wheat the better 1t was for
the farmer and all parties concerned; !;
but he was in favor himself of abolish
ing all state inspection and allowing
the miller or other buyer to examine a.
car Of wheat and pay for it what he
thought it was worth Mr.. Pillsbury
also suggested that If the grading of
wheat was abolished, the wheat pit
would be done away with also, and, he
added, he would not regret 1t if this
were the case.
A G o reporter visited Mr.. Pills
bury In his office in Minneapolis yes
terday and asked him to elaborate
somewhat his views on the subject of
wheat grading. His attention was
primarily called to James ]. Hills atti-
tude toward the people Of Wisconsin g.
few years ago when they sought to
establish a scheme for grading Mime
sofa wheat in the elevators at Superior
Tor no other apparent object than to
provide fees for grain inspectors. Mr..
Hill at that time promptly Informed
the authorities that If any such game
was attempted he would remove his
elevators to Duluth.
Yes, said Mr.. Pillsbury, that Is
true. Minnesota had established a rem
utation for grades, while Wisconsin had
not done so, and the railroads shipping
wheat to Superior, Wis, would be la
boring under disadvantage, as the
grain would not sell so high as the
Minnesota grade Of wheat"
But is it mot absolutely necessary
that there must be some method Of
grading wheat that may be sold for
foreign export or shipment out of the
state?" was asked.
HOW TO HANDLE 1T.
II can hardly figure out" said Mr.
Pfll9bury in reply, how wheat can be
handled in large quantities to be ship
ped out Of the state without being
graded. 1t probably would be hest IN
have the wheat bought by samples. or
the farmers, and shipped to markets.
IKE Duluth for Instance, and graded
there by boards of trade but when we
had that system the farmers were verv
much dissatisfied. The long and shor;
OF 1t is that when prices are low. no
system will suit the farmer. IF the
farmer is not getting what he considers
a fair price for wheat he has got to
find scape-goat. F'og a long time the
scape-goat was the Minneapolis Mill
ers' association. After that it was the
country elevator. Now it is the inspec-
tion department Until men are all
honest and skillful there are bound 20
be mistakes made somewhere; and no
system Of handling wheat will be salts
factory to the farmer that does not
pay him remunerative price for his
wheat. I would undertake to convince
any farmers jury Of twelve men that
the day the Minneapolis Mil1ers' asso-
citation was abolished was the most un-
fortunate day for the farmers of the
Northwest that ever happened. StiIl
they did not see it in that way and we
had to abandon it. There is no one
who wants to do business with a popu-
lar outcry against him If it can DOS
sfbly be avoided. AS I said In my
statement before the commission, the
more strict the grading the better it Is
for the farmer, in the long run. The
price of wheat Is bound to adjust itself
to the grade. When the grade is low
er, that wheat admitted to this lowered
grade and which could not get In be-
fore, nets some farmers a little more
money, but every other man that met
the higher established grade before, fs
bound to lose, as the price of the low
cred grade is as certain to come down
as that night shall follow day. Now
in little while the man whose wheat
was admitted into the No. 1 grade, but
which formerly graded No. 2, is really
no better off, because the price must
come down to the real value of his
wheat and the men who raise genuine
No. 1 northern will all be suffering
from the lowering Of the grade"
PRICE OF WHEAT.
Mr.. Pillsbury was asked for an ex-
preston Of his views as to the exist
ing situation regarding the general
wheat market.
II think" he said in reply, that the
price OF wheat has got to keep down
to where the farmers will only sell
enough to supply the consumptive de-
mand. There is not bull left on earth
and won't be until there is some Iegis-
lation in regard to short selling"
Mr.. Pillsbury good-naturedly declined
to elucidate any theories of which he
may be possessed in connection with
this last mentioned subject. BY his
observations. however, and his general
ly cheerful manner, he conveyed the
impression that there is at least one
man in Minnesota who would like to
be a bull on wheat if it was prudent
for him to be so; and he appeared, for
thermore, to be in accord with the late
Mr.. William H. Vanderbilt's definition
OF speculative bear" as one who
sells something he does not own and,