Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1906-10-18
WITNESS OF
TRADE BOARD
DECLARES RULE RECENTLY PASS
ED RESTRICTS COMPETITION
AND TRADE
DOES INJURY TO SOME

Price is Fixed Which Members Of the
Board Can Not overbid-various
Grain Dealers Appear Before the In
terstate Commerce Commission.
Chicago, Oct. NV H. Bartlett.
prominent member of the board OF
trade was the first witness called be-
fore the interstate commerce commits
sion today when the hearing regard
Ing the grain trade was resumed Bart
lett declared the rule recently passed
by the board of trade fixing prices to
be bid on grain is, in his opinion, Ill
restriction of competition and trade,
and not good business proposition
Tor men dealing in grain as he deals.
The rule was good one for the COM
mission men, but Injurious to man
in the country who buys grain, be-
cause the rule fixes prices which deal
ers on the board may not overbid.
Chicago, Oct. wv. S. Jackson,
former president of the Chicago board
Of trade was called as witness at
yesterdays session Of the interstate
commerce commission to testify as to
the practice of the owners of elevators
storing grain contrary to law. He tes-
titled that he had known of cases
where grain had been stored in eleva-
tors that belonged to the owners Of
warehouses; In such cases he stated,
however, it was custom to tranfer the
title of the grain before storing it, thus
t., y}v,rr y, y, lott Nf
the law. After the grain was removed
from the elevators, he asserted, 1t
would be re-transferred to the owner.
Several other grain men testified
such a practice was in vogue and
stated that they did not consider 1t
violation OF the law. Z 90 ses
George Marcy, president Of the Ar
mour Elevator and Grain company, de-
clared the competition for bidding on
grain in the country is so keen and
there are SO many commission men IN
Chicago after it that by the time the
grain reaches Chicago there is little
profit in it.
Asked about the rule on the Chicago
board of trade fixing prices to be bid
on country grain, especially as to its
fairness, Marcy declared 1t was not
fair and that he voted against 1t.
Would Discourage Farmers.
I. p. Rumsey, for fifty years mem
Der of the Chicago board of trade, de-
clared he is unqualifidely in favor of
the Grain Dealers association and in
favor of discouraging the farmers in
the elevator business. He said it was
not fair to commission men who deal
honorably, that this state of affairs
should not be allowed to go on.
Richard Grambill, board Of trade
broker. was the first witness called
yesterday.
Gambrill declared the rules Of the
Chicago board Of trade were clearly
In restraint of trade, and are rapidly
making the Chicago grain market in
the words Of the witness, "one-horse
proposition
THE rules posted on the Chicago
board of trade each afternoon" said
Gambrill, (which prevents me from 60
Ing into the country and bidding FOR
grain. that to my mind is detrimental
/. to business and in restraint of trade
Samuel Finny, another broker of the
hoard of trade, testified there is an
agreement between certain board of
8 trade men to bid certain prices for
grain in the country and he named two
firms which he declared are party to
this agreement.
President Winchell, of the Rock ISL
and road, was called to tell about the
purchase of the elevator company for
$1,000,000, concerning which Mr.. Shat
fer testified yesterday. Winchell's S
testimony covered the details of the
purchase of the elevator, and it con-
tanned nothing sensational.
James Petit, president of the Peavy
Grain company testified that up to
sixty days ago there was am agreement
between six elevator companies.
whereby their profit on storage grain
were assured them, each agreeing to
refrain from taking grain from the
warehouses of the other for storage
He said this agreement was dropped
when the new rate law went into eff
tect.
Iowan Makes Complaint.
ashington. D. c., Oct 17-A COM
involving an Insignificant sum
aey and some important prin-
was filed with the interstate
commerce commission yesterday by
Jas. B. Mapen against the Rock Island
railway. The complaint claims that
On shipments of baled straw from
Center Point, Ia. to Chicago, the de
fendant line charged him IA cents
per hundred pounds on $4,000 pounds
to car, although the precise weight
was only 1920 pounds. He alleges
the charge was unreasonable. The de.
fendant also exacted a charge of 81 a
ear for alleged delay in unloading at
Chicago-a delay over which the com
plainant had no control. He says there
should be reciprocity in demnrrage
charges, and that the defendant and
other railroads should pay shippers
such charges for delays in shinmcnts