The Wahpeton times. [volume] (Wahpeton, Richland County, Dakota [N.D.]) 1879-1919, 1907-10-17
AMERICAN SOCIETY OF EQUITY
Some Pertinent Points for Grain Growers.
AS of

partment OF the American Society o.
Equity held at indianapolis. Ind. July
26. 1907, committees were appointed
to arrange for terminal storage Of
grain at st. Louis. Kansas City, Chica
go. Minneapolis and Superior. This
has all been accomplished and is now
in successful operation.
Cash Advances on Stored Grain.
The above committees were also au
thorized to make arrangements for
cash advances on stored grain. While
many bankers both in the country and
cities. prominent farmers, both mem
bers and non-members of the A. S. OF
f.. made light of, in fact regarded the
proposition as practically impossible
1t nevertheless remains that the com
mittee succeeded in making entirely
satisfactory arrangements in the same
cities where storage arrangements
We're made
On all storage receipts funds will be
advanced for any number of days
weeks or months, up to 80 per cent OF
the value of the grain, and in most
cases at 6 per cent per annum, and in
no instance to exceed Z per cent, and
at all times to be regulated by the
fluctuations of the money market. leav.
ing the owner of the grain to sell at
pleasure.
Worth Millions to Members of A. S.
Of e.
The arrangement made for storing
and securing funds on storage receipts
at terminal elevators, the shipping of
grain by members of the American So.
ciety of Equity to their so-called ex-
changes at these terminal points and
selling through them. The value of
these arrangements is hard to CON-
pute. but if the salable portion of this
years crop of its members would be
handled through their own exchanges
it would be saving to them of many
million dollars. If these exchanges
are not patronized by members of the
A. S. of f. of course they will receive
no benefit, excepting indirectly to the
extent that the society with its ex-
changes may influence the higher
price of the products.
Farmers Of North Dakota Lose Mill.
ions Annually.
All human beings are more or less
seltish-generally more. Corporations
are regarded as soulless. and the bank
ing corporations Of North Dakota are
corporations indeed. But with all this
they fully realize that the prosperity of
the farmer means their bankers pros.
perity. Realizing that the producers
OF North Dakota were Systematically
robbed i'll prices, grade, and dockages
on grain. the bankers a year ago ap-
pointed a committee. among whom
were Senator J. l.. Cashel of Grafton
and w. G. McFadden Of Fargo. This
committee spent several days at Du-
luth and reported to a later bankers
convention THAT the system by which
the grain was being handled is loss
to North Dakota of about three million
dollars annually.
Recently a committee from the grain
growers department Of the American
Society of Equity. composed of Presi-
dent Nelson. T. S. Morrell. president
of the Minnesota State union, and the
writer. was joined by William G. Nc
Fadden Of the bankers committee, and
spent several days at Duluth, Superior
and Minneapolis. and have every rea-
son to confirm the report made by the
bankers committee
Pay Of Local Elevators insufficient.
The freight tariff of the Great North.
ern railway on flax or millet seed,
grain, flour and millstuffs in car loads
from A1ohall to st. Paul, Minnesota
Transfer. Minneapolis, Duluth, Mimi.
or Superior. Wis, makes charge to
all these points alike, being 16 cents
per one hundred pounds.
You may take any day in the year
ascertain the local price and the price
at the terminals. allowing 10 cents per
bushel for freight plus 2 cents for
handling. and you will find the local
markets with hardly an exception are
buying OH too large margin. We
quote from the Cooper Commission
company's bulletin of Minneapolis and
local market reports of Sept S, as fol
lows:
Grain. Margin
No. I hard .sO.O4A
No. l Northern .............. .O4
No. 9 Northern ............. .O6A
D"f"Hl ............. wv