The representative. [volume] (St. Paul, Minn.) 1893-1901, 1899-09-21

Men with the Hoe Unite' In $2O, 900 900
Farmers' Trust.

Men with the Hoe Unite In $40, OOO, 600
Farmers' Trust.
TOPEKA. Kan, Aug. 31.-The Farmers
Federation of the Mississippi Valley has
been organized and officers elected. Wal
ter N. Allen, Of Meriden, Is president and
business manager
late and control the shipment of farm
products Of all the states in the Missis-
sippi valley, to establish and maintain
offices. yards, grain elevators. to maintain
agents to handle, sell and distribute such
products and to lend and borrow money
and do banking business at Topeka, Kan
sas City. st. Louis. Chicago, Cincinnati
and New Orleans.
The capital stock will be $50 OOO 900, in
shares of $40 each. ~-~
President Allen, in a long statement Of
the purposes of the federation, says the cost
In commissions for marketing the products
In the Mississippi valley is over $21 900 OOO
He plans that his company shall do this
business for the farmers for less than ST.
600, 900.
The bylaws provide that there shall be
no rebates to shippers or dividends paid to
stockholders, and that the surplus earnings
shall ba reserved to finance bank depart
ment to pay interest on the bonds of the
company" and for the purchase of the bust
ness and good will of commission houses.
1t is also provided that Ito hasten the
emancipation of the agricultural classes"
there may be issued SIC, 900 900 of 5 per
cent 2O-year debenture bonds of the COM
pany to purchase the business and good will
of the commission houses of Chicago, ST.
Louis, Omaha, Kansas City and New Or
leans.
In discussing the trust feature of his new
company, President Allen says:
This Incorporated, consolidated agency or
cooperative plant may be considered a far
mers' trust, and was SO denominated by the
press of the country when organized II
years ago. Like many other Industrial
trusts that are now being formed, though,
1t is an unoffending trust There is moth
ing in the bylaws or in the charter in
conflict with the interstate commerce act
or any Of the laws of the several states.
Its purpose is not to restrain produc-
ton or arbitrarily to FIX prices. 1t as
sumes only the power to control shipments
Of farm products and to thus regulate
the supply to the demand in the general
markets. II there should appear to be
an over production, we would simply sell
enough to meet the legitimate demand for
consumption, and hold back our surplus
in our graHaFies and on our farms to meet
the contingencies Of short-crop seasons.
The permanent headquarters of the feder-
alton will be established in Chicago in
about three months.
If such combinatlon could be formed
and carried out, we should hail it with
delight.
But it is an awful big job to raise
$20.0O0,0O0 among the farmers, who have
no more cohesion than the sands of
Sahara.
And the thieves would flock to 1t like
grasshoppers to a Kansas wheat field.
and when they got through there would
be nothing left but dirt and stalks.
No, no; If the farmers cannot unite in
support Of the principles of the Peoples
party. they need not attempt to COM
bine in any other movement for their
own protection.
Twenty million dollars! Phew! Let
us begin with twenty cents.
Pass around the hat. And let the
owner Keep his eye on it. I'D.