The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1909-11-03
CLAIM A. S. OF {.
HAS MADE GOOD
NEW SECRETARY or EQUITY So
GETTY TELLS OF WORK 1T HAS
DONE AND why IT SHOULD RE-
cEIvE THE SUPPORT OF THE
FARMERS or NORTH DAKOTA.

The following communication adj
kota has been forwarded to The Fo-
rum for publication:
with the closing of the third an
nual convention at Valley City Oct. rs
last, the American Society Of EQUITY.
your organization, has completed three
years in the history Of it's existence.
You would naturally like to know
what the society has done to Justify its
existence, and 10 warrant it's claim to
to the support of the farmers OF the
northwest To the farmers who have
followed our teachings closely, no ex-
lplanation 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 1906 sold as low as $.65 per bushei.
The yield OF that year was no greater
than the yield OF 1909. From the pro-
missing outlook early this summer the
spectators hal thought that the his
tory Of the markets in 1906 would be
repeated this year. Mr.. Patton, you
remember, predicted s.s5 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 Sept. IS, last, quotes Mr.. Patten as
saying, The production Of wheat this
year is far larger than that 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 expect a low price for
wheat
"On this subject The Market Record,
the official paper of the Chamber of
Commerce of Minneapolis, in its issue
of Aug Is, has this TO say, "The farm
er has been educated along the line Of
scientific marketing and has had the
influence of society bent upon die
tating the price at which the grower
should dispose of his products There
are innumerable statements Of a SINH
lar 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
Society of Equity has not at least in
some measure been a success. We be-
lieve that the business precision and
the concertedness of action with which
the farmers this year have marketed
their wheat have far surpae ed the
fondest expectation Of the early pro-
motors of the American Society of
Equity. Can any on, remember in 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 give.
The Terminal Markets.
"A word with reference to the stu
alton at the terminal markets at the
present time. From the letter issued
from the Chamber OF Commerce ct
Minneapolis Oct. Is, we CLEAN the fol-
lowing: 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 abnormaIly small
The total amount in store in the two
markets falls far short of last year
Again Nov. 1, in speaking OF the in
crease in the w~rld's shipments 'dlne
letter goes on to say, All this favors
the bears, but acting directly against
this was the very bearish factor Of
the small amount OF wheat in tsore az
primary markets. Until these holes
are filed the trade generally does not
expect to see any material decline in
| prices What are those above men
toned holes? We will tell you. They
are the large terminal elevators which
now are practically empty. Eleva-
tors with the capacity of 10000. 600
bushels have in them today bat $780,
600 bushels. This is all the wheat that
is in storage at the Minneapolis termi-
nal ait the present time. The so-called
holes will require S7,500,000 bushels
before they are filled. The December
contracts call for II 200, 900 bushels.
Considering that there are only $780,
600 bushels in storage, the situation is
very serious. BY all means, farmers
hold your wheat and let the above
named contracts be covered at a loss
and we will soon have driven the
spectators out OF business.
New Plan Proposed.
TN the future the society, besides
its work OF education, will concen-
trate it's efforts upon che perfecting of
a marketing machine, so that by
means of local and terminal eleators
the grain growers may retain posses
/ sion Of their products until they are
in the mills. There is no reason why
grain should change hands from 10 10
100 times on its way from the farms
to the mills. Yet that is the situation
as it exists roday. We are now opera
ting at Duluth. Superior and Minne-
apolis what is known as the Equity
Co operative Exchange. It is oper-
ated by and in the interest OF the
American Society of Equity. Mr.
Cooper, who is in charge, is under
heavy bonds to the society. He is an
experienced grain man. He is rated
by Bradstreet and Dunn higher than
many Of the old-Iine commission firms.
The Equity Exchange has given salts
faction to all that have patronized Il
thus far. Any inquiries concerning
the same will be cheerfulIy answered
4 IL addressed to this office we are
asking the farmers to cooperate with
us In making this enterprise a success.
In conclusion we wish TO thank the
papers OF the state for the hearty sup
port they have given us, and we trust
that the farmers will patronize them.
A press bureau will be maintained at
the secretary's office and will from
time TO time give information con-
corning the wheat markets which you
will not be able to get from the
Chamber Of Commerce or Boards Of
IRx<- = /.