Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-03-07

change were met by the inspection and
weighing fees, and that the interest &C
count went to the reduction Of the amount
Of loss during operations Of 1914. leaving
same At - IS at the end OF 1sh, being an
Improvement 10 the extent Of SS.ofIN IL
seems reasonable TO SUPPOSE that II bust
for 1875 our profit and loss account will be
about even at the end Of the year 1905.
This would mean that for the period Of
operations over three years We would have
operated without either loss or gain, which
is rather better result than had been an
ticipated The finance committee has, dur
ing the year 1905. invested in first mortgage
ps per to the amount OF Nl.lW. All but
81 600 Of this lie in farm loans in eastern Ne
readily salahle in Nhe event Of the ex-
change needing its funds at any time.
GettipE Near the Top.
Secretary Merchants report says at the
rate Of gain made in the last year Omaha
soon will occupy 9 place near the top as
primary grain market but he depreeates
the failure to draw largely from northern
kansas and southern Nebraska. He says
vast inrosds must be made in these sec
tons If the local market is TO become
successful competitor of others.
The Chicago, Milwaukee a St Paul rail
road comes in for censure by Secretary
Merchant for making . rate for December
and part Of January OF u cents for 100
pounds from Kansas City and is cents from
Omaha on corn for export.
Had not the Wabash Railway company,
says Mr.. Merchant, made q rate Of 10 cents
from Omaha TO New York on corn for eN-
port, and the Chicago Great Western Rail
way company a rate OF so cents from
Omaha to Chicago, to meet this dircrirn-
ination on the part Of the Chicago. Mil
waukee e. ct. Paul in favor Of Kansas City,
this market would have been quite seriously
injured
Nj Merchant spoke in favor Of the main
tensnce Of the original basis Of rates put in
force Junce 10, 1904, declaring it insured
equilibrium Of rates and a growth in the
Omaha market He also favored through
rates 70 Liverpool and other foreign
markets
Need of strong Buyers.
The report mentions the cash market as
having made good progress, but not a.
much as It should have made, owing TO the
need Of strong buyers. and the fact that
some heavy dealers, encouraged by through
lines are bidding strongly for grain in the
country. The option business has suffered
from a lack OF speculative spirit, the
dealers devoting their energy TO the up
building Of the cash market.
The statement is made that the exchange
is doing something never done before by
another exchange, running its business
without assessing its members, the reason
being that inspection and weighing are
under the Jurisdiction of the exchange and
pay revenue to Il. There are 1872 members
and the limit IL 800. The exchange has no
annual dues and thus far ha. paid ell
expenses without drawing on the original
capital For thase who are specializing as
to what will be the value OF seat in the
exchange, Nj. Merchant allows merely this
statement: Memberships are selling, sp-
proximately. in Chicago at 800 in Min
neapols at sI,7oO; in Duluth at $500; in
St Louis at $3.50; in Kansas City at $500"
In Mr.. Merchants opinion the Omaha grain
market is worth $1,000 900 a year to the
producers of Nebraska, first by enhancing
the value of grain with near market and
elevator facilities; second. by reduction of
freight rates on grain; and third, by Sc
curing through rates from Omaha to foreign
markets.