Jamestown weekly alert. [volume] (Jamestown, Stutsman County, D.T. [N.D.]) 1882-1925, 1906-12-27
SHORTAGE HELPED PRICES
views OF Senator Knuts Nelson Of
Minnesota on Z Much Die.
putsd Question

P"sOu yuOSlS0n
minneapolis Tribune: The interstate
commerce Investigation last week es
tablished the fact that the acnte
grain congestion in the northwest
was a local rather than general con-
djtion.
Owing to--the fact that the bulk OF
the crop was raised in North Dakota
the weigh: OF moving it to market
was thrown upon the northern roads.
Had 1t been more evenly distributed
over the three states, the failure of
stocks to accumulate in the termin-
ais would have been less marked.
When the speculative condition OF
the market is considered. there is
every reason to believe that the
Transportation tangle, loud as it
called for reform, took the bearisl1
edges off OF the market, advanced
the value of the crop fully 10 cents
and drought about a truer under
standing of the actual conditions in
the northwest. At those points d
North Dakota where the margir 1f
nr0fh was widened to meet the e.i-
gencies of the situation, the market
price more than Offset this differ
ence Moreover, values had advanced
whereas the certainty that they we're
to decline to lower level than that
reached last September when cash
wheat in Minneapolis was quoted at
| 69s6 cents on track or to arrive can
be measured by the tremendous
weight that was on the short side OF
the market.
The following letter indicates that
farmers have grasped this side Of the
i situation: - -~ ~ >&
Fertile, Minn., Dec. 8, 1906.
Farmers Tribune,
Minneapolis, MINI.
EtienUlnmPn--'
"There has of late been a great
howl in some Of the daily papers of
this state and North Dakota about
the Car shortage or the railroads
and the great loss and Inconvenience
to farmers and dealers on this ac~
count. Now let US look at this from
an impartial point of view.
''First the price Of wheat started
in at the local markets here at So
cents and go cents for No. and No.
northern wheat The estimate vas
for a bumper crop Of spring wheat,
100, 600, 900 for Moth Dakota, 9O, ,O0O,-
600 for Minnesota and $4,000, 900 for
South Dakota including durum wheat
"a tctal OF $50, ZOO, 900 bushels for the
three states. This added to the
enormous crop Of winter wheat,if the
estimates had been correct, and the
wheat rushed to market, would nat
orally tend to depress prices, and We
would have seen 50-cent wheat in our
local markets. Bat, fortunately for
we farmers.the railroads we're 50 busy
hauling other freight that the wheat
did not arrive fast enough to SUIT the
bears and wheat gamblers in Minne-
apolis 1.-THE Journal inoluded), and in
stead Of wheat declining, it vent
steadily up, so nov it is II cents per
bushe] above the opening price, Sept.
!. Is this a loss Or a gain to We farm
ers? Is it not an easy matter for We
farmers to 60 and borrow money on
our wheat II we have the same stored
| IN the elevators or In our own gran
aries? Will farmer lose OF gain by
being compelled to hold 1900 bushels
of grain for 3 months when wheat
advanced II cents per bushe] In the
meantime. although he was compelled
to pay interest on 81 200 at the rate
of 10 per cent for three months? Did
he not in three months gain $40 on
1900 bushels bg paying $50 interest,
or rot profit OF &2lO?
"Will the Minneapolis Journal,
which is bowling so loud about the
loss to the farm ers on account Of CIR
shortage, explain this? Is 1t mot =
fact that the spring wheat crop was
overestimated IS ::per cent? In the
middle OF October l went on a trjp
out in North Dakota, myself, and in
my opinion it was utterly impossible
for the main lines Of the Great
Northern, Northern Pacific and 500
to increase their traffic without
double tracking their main lines.
'Instead Of cursing the railroad
companies for not furnishing. tarS
fast enough to rush our wheat to