Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1909-11-04

tober 2Sth, last. the American Society
of Equity, your organization, has
completed three years of the history
of it's existence. You would naturally
like to know what the society has
done to justify its existance, and to
warrant it's claim to the support of
the farmers of the northwest. To the
farmers who have followed our teach
ings closely, no explanation of the
above is necessary; but to those less
informed who hold in suspicion all
organizations of this kind we wish to
speak briefly.
The American Society of Equity
was the first to begin an organized
campaign for dollar wheat, prior to
1907 no concerted effort had ever been
made to prevent ruinous prices on
farm products. You remember that
wheat in 1916 sold at low as IS cents
per bushel the yield of that year was
no greater than the yield of 1909.
from the promising outlook early
this summer the spectators had
thought that the history of the mar
kets in 1906 would be repeated this
year. 4nr. Patten you remember pre-
dicted IS cent wheat this fall. Did he
get it! No. And why? Because
the farmer has been educated in the
business principles of marketing his
grain. The Chicago Inter-Ocean of
September 18th, last, quotes Mr.. Pat
ten as saying, ''the production of
wheat this year, is far larger, than
mat of last year. The farmer has
not made up his mind as yet just
what to do, and until the farmer
makes up his mind we need not ex-
pect low price for. wheat" |
! On this subject the Market Record,
the official paper of the Chamber Of
commerce of Minneapolis in its is
sue of August 16tn, has this to say,
"Ahe farmer has been educated along
the line of scientific marketing and
has had the influence of a society
bent upon debating the price at
which the grower should dispose Of
his products" There are innumer-
able statements of similar nature
bearing on this subject. They all
come from spectators, the enemies
SO to speak, and in view of this no
one can truthfully say that the Soci-
ETY. of Equity has not at least in some
measure been a success. We believe
that the business precision and the
of action with which
the farmers this year have marketed |
their wheat have far surpassed the
fondest expectations of the early pro-
moters Of the American Society OF !
TnsS or MI ~ n
the history of the Northwest when
cash markets have been kept above
the options? Yet, this is the report
which the historians of today have to
A word with reference to the situ-I
alton at the terminal markets at the
present time. From the letter issued |
from the Chamber OF Commerce at |
October 28th, we CLEAN
the following. 'The stocks of wheat |
at the head of the lakes are very
heavy, but on the other. hand the
amount in store In this market is alb
normally small. The total amount in
store in the two markets falls far
short Of last year.. Again November
LIST, in speaking of the increase in the
worlds shipments the letter goes on
to say, "AlI this favored the bears,
but acting directly against this was
the very bearish factor Of the small
Of wheat in store at primary
markets. Until these holes are filled
the trade generally does not expect
to see any material decline in prices"
What are those above mentioned
n0les?" We will tell you. They are
the large terminal elevators, which
low are practically empty. Elevators
with the capacity of forty million
bushels have in them today but two
million five hundred thousand bush.
els. This is all the wheat that is in
storage at the Minneapolis terminal
1t the present time. The so-called
holes" will require thirty-seven mil L
ion five hundred thousand bushels
'efore they are filled. The December
contracts call for eleven million bush
,ls. Considering that there are only
;wo and a half million bushels in II
forage, the situation is very serious.
By all means, farmers, hold your N
wheat and let the above named con-
racts be covered at loss and we will n
oon have driven the speculator out
II business. ~ ~ q s-t,.@ i
In the future the society, besides
is " ork of education will concentrate
ts efforts upon the perfecting of a
machine, so that by means
Il local and terminal elevators the
rain growers may retain possession
u their products until they are in
ne mills. There is no reason why
rain should change hands from ten
o one hundred times on its way from
he farms to the mills. Yet that is
he situation as It exists today. We T
ire now operating at Duluth, Super.
or and Minneapolis what Is known
IS the Equity Cooperative Exchange.
I is operated by and in the interest
i the American Society Of Equity.
dr. Cooper, who is in charge is un-
Ter heavy bonds to the society. > He !
8 an experienced grain, man. He is
ated by Bradstreet and Dunn higher
han many Of the old line commission
Irms. The Equity Exchange has Civ
n satisfaction to all that have pat
onized it thus far. Any Inquiries Ii
the same will be cheer
ully answered If addressed to this
nice. We are asking the farmers to u