Belding banner. (Belding, Mich.) 1889-1918, 1907-09-05
RELATIVE TO BEANS
Farmers Asked To Watch out for the
Spectator

Farmers Asked To Watch out for the
Spectator
To the Farmers of Michigan:
The American Society of Equity is
watching closely the situation in the bean
raising states, and if the bean crop OF
1907 is marketed as recommended by
the society the bean growers of Michigan
will realize million dollars more than it
they market without concerted action.
For several years the price Of beans,
instead of being governed by supply and
demand has been made and regulated by
the board of trade spectators. Before
the crops harvested they make contracts
to furnish sh many carloads of beans at
c irtain price. To make a profit they
must get the beans below this price. anc
therefore their whole effort is devoted to
keeping the farmers price as low as pos
sible. They publish misleading reports
about the size OF the crop and the price
outlook and manage to scare the farmers
into selling early at low price After
the spectators have bought enough cheap
beans to fill their advanced contracts the
price is generally allowed to advance
somewhat, only to be forced down again
later.
The same old game is being worked
this year. We cannot learn about all the
advance contracts but we have definite,
positive knowledge, of contracts already
made IN Michigan to furnish more than
five hundred carloads for October ano
November delivery at Sl55 per bushel.
This means that they intend the farmers
price, up to December first, shall not be
far above the dollar mark, and the specu-
ator are simply betting that they ca
manage it,
| Would it not be we'll for the farmers to
manage it themselves this year? They
can, if they will. control the whole matter
and fix the price below which they
will not sell The speculator knows
this and just bets that the farmers will
let themselves be worked as in the past.
The American Society of Equity, with
its complete reports on the 1907 CROP,
says the price should not be less than
81. 80 per bushel and advises all farmers
not to take less. If the farmers will no,
sell below 5 so where will the gamoIer
get all those carloads they have already
agreed to furnish in October and Novem
Der at ST. .55? They must come to The
farmer and pay his price. Nobody else
raises b. a IS and the farmers of M igan
control the crop. If they will hold the
bulk Of it at S so until December first
the gamblers will be out of pocket fifteen
cents on every bushel they have contracted
to furnish at ! SIS. On five hundred car
loads this would amount to $4,000 ano
If the gamblers haye sold the whole Mich
lgan crop, as they probably have, it will
cost them more than half a million. 1t
will teach them such lesson that it vii
be long before they again bet on Their
ability to work the farmers in the bean
market 1t is the farmer. Here is his CD
portunity and every legitimate bean deal
err will rejoice to see the Spectator
downed
The AmeEican Society Of Equity is now
making an active campaign to explain the
situation fully and organize the farmers
to hold beans for the fair price of 81 so
per bushe. Notice Of meetings will be
posted and farmers who are alive to their
interests should attend and push along
this great movement which is fast cover
ing the whole country and showing what
farmers can do by pulling together for
their common interests
Geo. @. Winans,
State Organizer Am Soc of Equity,
Hamburg Mich