The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1907-04-26
JOINT MEETING Of
FARMERS AND
BANKERS
Considering Terminal Eleva-
tor Conditions and
Remedies.
MAY FORM JOINT
STOCK COMPANY
Definite Plans Will Be Laid at
Omaha Meeting of
A. s. T..
MAY FORM JOINT
STOCK COMPANY

"A meeClnS OF the JOINT committees
of the State Bankers association and
the North Dakota State union, which IS
branch of the American Society of
Equity is being held at the Commercial
club rooms in this city today. The
joint committee met at IL o'clock this
morning and organized by the election
of ]. w. Scott of Gilby, president, and
w. c. Macfadden of Fargo, secretary.
The members representing the bank
ers' association are Senator ]. L.
.Cashel of Grafton, NJ. F. Murphy of
Grand Forks, F. w. Cathro of Bot
tineau. and w. c. Macfadden of Fargo.
The state branch of the American So
ciety of Equity is represented by
Theodore G. Nelson of Mayville, state
organizer of the order, ]. w. Scott of
Gilby, George N. Smith of Armenia and
M. S. Blair of Ojata. The only member
of the committee who is absent, is A.
l.. Wentworth of Kelso, who was
member of the committee appointed by
the A. S. of E.
The purpose of the meeting is to dis
cuss in general the plan of terminal
elevators at the principal grain re-
ceiving points in the east. 1t will be
remembered that a few years ago the
American Society of Equity was
formed by ]. A. Everett of Illinois for
the purpose of organizing the farmers
of the country engaged in any particu-
lar line of production for the purpose
of fixing and regulating the price of
farm commodities at an equitable
figure. The work Of organizing the
wheat growing sections of the country
is now being waged with vigor by the
society and this state is being sys-
tematically organized by Mr.. Nelson.
The idea in brief is for the farmers to
hold their grain until the demand is
sufficient to make the price what the
farmers should have. In order to do
this, it is necessary that the farmers
have some place to store the grain, as
we'll as some means of having voice
in the sale of the same, even when the
market is found.
1t would be an utter impossibility to
store all the wheat of this state in the
local elevators. This was illustrated
in the overstOcking of these last sea-
son when the railroads failed to han
die the grain as fast as it was deliver
ed. 1t is therefore important that
terminal elevators be provided for the
use of the farmers themselves, or I'M
der their control so that they would
not be at the mercy of the wheat rings
and the grain SPECTATORS
The bankers of the state, realizing
that their business is inseparately con-
nected with that of the farmers, took
up the matter last summer of securing
better terminal facilities, and to ac-
complish this end, sent delegation to
the head of the lakes to see what if
anything could be done. This is the
committee which is meeting with the
committee appointed by the American
Societ yof Equity for the same purpose
few weeks ago.
The general plan which is being
discussed today is the securing of
terminal elevators at the mill pur-
chasing points in the east. 1t is
recognized that this is large UNDER
taking, and that in order to be sue
cessful, It must be on large scale.
1t is probable that definite action will
be taken at the national meeting of the
American Society Of Equity which will
be held in Omaha, June 5, 6, z. The
meeting today is only recommendatory
in it's scope and whatever conclusion it
reaches. will be submitted to the sew
eral local branches of the union in the
state. The plan of securing terminal
elevators will be carried out in ali
probability by means of a gigantic
stock company in which the stock will
be exclusively owned by farmers. The
society believes that II this is accom-
! plished the warehouse receipts will be-
come first class security at the banks
of the country and that the question of
securing money in advance on the
crops. where such is necessary, will
be solved at the same time.