The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1899-09-06
MR.. ALLEN ENCOURAGED.
His Farmers Trust Scheme Received
With Favor.

Walter N Allen, the protector of the
scheme to associate the farmers of the
country into trust for the control of
prices on farm products, returned to
Topeka today from his home at Meri-
den. He says he has just completed
arrangements for the sale of $40, 600
worth of fine cattle, and will put the
money realized into his scheme.
Since the announcement was first
made that he intended to revive THE
Farmers Federation of the Mississippi
Valley" Mr.. Allen has received fully
500 letters from different parts of the
country Many are from farmers in
various state who pledge themselves as
willing to cooperate in accordance with
his plan, and others are from experience
ed grain buyers, commission men and
millers.
Among the latter is a letter from F.
o. Weeks of Chicago, the man who
handled Joseph Letters grain when he
was at the head of the grain business
of the country. In his letter Mr.. Weeks
says:
4 note the formation of an associa-
ton by yourself and others to control
and handle shipments of farm products
and that you contemplate making Chi
cago a headquarters. I have had long
experience in both the domestic and
export grain trade, and during the time
Joseph Letter controlled the cash wheat
I had charge OF his office, looked after
the receiving and shipments as well as
known to many of the prominent bank
ers here. In view of this should be
pleased to correspond with you in re-
Spect to making some connection with
your goodseIves.'
Another letter is from John Balch
Blood of the firm of Blood & Hale of
Boston, who asks if the federation is in
a position to contract for the shipment
of five millions of bushels OF wheat per
year. Mr.. Blood says:
I am informed concerning the or
ganizatiOn Of your company, and wish
to obtain further information concern
ing it, inasmuch as a project with
which I am connected is of such nature
that 1 think some business can be ar
ranged with your organization.
We have arranged for shipments in
to the United States of a large bulk
of material, the contract for which is
to extend over a long period of time,
first for a year and then continued. In
order to get low freight rates. we have
to guarantee full cargoes of outward
freightS in return. We are planning
that these cargoeS be of grain, and are
now negotiating market for this
grain. We viii have to contract for
grain year ahead, delivered at stated
intervals and at an approximately uni
form rate. OF course we can buy this
in the open market at Chicago or New
York, but in so doing we have to pay
several commissions as well as Specu-
lative profits.
1T would seem that your organiza-
ton is fitted to take up this matter.
We are negotiating for a marekt of
five million bushels per year, something
like 100 600 bushels a week.
We would like to hear from you on
this matter, giving an idea of what
your company proposes to do, and also
whether you would be in position to
take up such a project as 1 here men
ton
Mr.. Allen is in Topeka now for the
purpose of getting out a book explain
ing the details of his gigantic scheme.
This book win be placed in the hands
of organizers who will be sent over the
country to secure pledges from farm
ers to enter into the Federation
He says that within two months he
will be ready to start his scheme. He
expects to be able to issue $4,000, 900 in
debenture bonds.