Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1899-01-21

centers Of the world. and conditions
here frequently affect prices every
where. We have here large number
q grain elevators. with storage ca.
paclty Of about 100000 bushels Of
wheat. They are chartered by law. ana
the owners act rs trustees or custodians
Of other peoples grain. The grain is in
spected by an officer Of the State. and
is graded No. I, No. 9. No. 3. as the case
may be. and generally. Is sold by this
grading. and all grain of the second
grade Is then poured together. the ware.
house man giving receipt for SO many
bushels of that particular grade. And
when this receipt Is again presented. he
does not give back the same grain, but
simply SO many bushels Of that grade.
II was soon found that all grain Of the
same grade is not equally good-there
will be No. 2 wheat almost equal to No.
/. and there will be No. wheat falling
close to No. 3. And in all those cases
where wheat is sold, not by the grading.
but rather by sample-as for milling
purposes-the best quality sometimes
brings several cents bushcl more than
the poorer quality, though Of the same
grade. The warehouse men saw that
they could sell by sample the best quail.
ity Of a particular grade and supply its
place by lower quality Of the same
grade and pocket the difference. This
would reduce the average quality Of the
whole pile, and In case the owners OF
any of the pile should wish to sell by
sample they would suffer In conse.
quence. The elevator owners went into
the business of buying and selling grain
and mixing it with that Of their custom
ers. \ suit was brought to cnjoln them
from doing this. Much evidence was
taken. and after full hearing Judge
Tuley, the Nestor of the bench OF Chi
cago, granted the injunction on the
grounds. among Others, that the eleva-
tor owners We're trustees or custodlans
OF other peoples property, that the in
terests Of the public demanded that
these custodlans should be dlsinterest.
ed, and that II would be contrary TO
public morals to permit them to stand
In position where there would he a
constant temptation for them to change
the character Of the property they thus
held In trust; and, second, that II the
elevator men were permitted to act in
the dual capacity OF trustees and deal.
ers In grain they would possess such
advantages as would enable them to
soon drive all other buyers out OF the
market and thus give to themselves q
monopoly Of the grain trade Of Chicago,
and enable them, to certain extent, to
fx the price OF grain in the Chicago
market: for they could then, by comb.
nation, agree on the price. and by rea.
son of their enormous storage capacity
they could withhold or throw on TO the
market at any time vast quantities OF
wheat, and thus depress or raise the
market at pleasure, which would not
he so II there were many owners. The
case was appealed TO the Supreme
Court, and that court sustained Judge
Tuley, and, in long and able opinion,
expressly held that 1t would be against
public morals and against public pol.
Icy 10 permit the public warehouse men
OF this state 10 carry on a grain bust
ness in the same warehouse In which
they keep their customers grain.
But In the meantime the warehouse
men secured the passage Of law
which permits them to do the very
things which the courts had held to be
against public morals and against pub
lie policy. The elevator people stand
together. They have an agreement mo-
10 interfere with each others business
The moment bushel Of wheat goes
into their warehouses they are entitled
10 two cents storage. When an outside
buyer offers 20 cents bushel II will
cost him y cents. The warehouse men
by giving up a little OF their storage
charge, can offer II cents, and thu
drive the outside buyers out OF the
market. This done, the market Is a.
the mercy Of the warehouse men. Tht
effect OF this legislation, therefore, II u
create monopoly and place all tina
section Of country which In grain mat
tiers Is tributary 10 this city AT the mer
CIV of combination OF elevator owners
In Chicago. This combination can cas-
lily combine with Others elsewhere, 81
that This legislation lays the founda
ton for grain trust that will draw
blood from every farmer In America
The question now is, members OF the
Illinois Legislature, Does II meet YOU
approval? VIII you vote to sustain II
a.. ~,tll vn,, vnto tov tie pavsua1Ts