The weekly times-record. (Valley City, N.D.) 1912-1922, 1913-04-24

StfONS COK0nlcHudtlou Ol tuc M1Hnc-
apolis Chamber of Commerce as "an
open, broad, competitive market" is
carried in the report Of the sen ,:e
grain investigating committee made to
the senate today by Senator'S S. u.
Works, G., II. Sullivan and V. l.. John:
son, a majority of the committee. c'hc
report also condemns the Equity Co.
operative exchange for it's business
methods and its method Of advertising
to the producers Of the northwest and
asks the railroad and warehouse COM
mission to Investigate the facts dis
closed by the Investigation looking pre-
sumahly to action against the Equity
concerns license as commission
merchant.
The report is voluminous. 1t will
be followed by a minority report from
@. A. Lende and A. L. Hanson. mem
bers Of the committee. The majority
report is even stronger in commenda-
tion Of the Minneapolis Chamber than
that of the house committee and also
approves the state grain inspection
The summary Of the report is as fol-
lows:
Summarized, the report says:
Your committee finds that the in.
specion and grading Of grain by the
state department is fair and accurate;
that the inspectors are trained and
efficient men, appointed on merit
basis, and recommends that the rule of
Ne commission in appointing inspec-
tors be continued; and further that
the same principle be applied as we'll
10 the appeal board SO that no one
shall be eligible to appoint on that
beard until his experience and COM
potency be established by proper re-
apirements and tests.
"Ysur committee finds that the con-
AtioRs surrounding the buying Of
grain at country stations is usually
competitive and that this result in
prices, grades and dockage fair to the
producer; that if price card is to be
sent out to country stations, it should
shsw uniform prices as between sta
oDns, allowance being made for
Asight differences and fair spread in
prices between primary and terminal
markets, and should be posted for the
Information Of the buyer and seller.
And recommends for consideration the
qaastion Of whether such a price card
might advantageously be sent out un-
dAr the supervision of the grain and
Warehouse commission.
Chamber Commended.
YGur committee fnds that the Cham
br. Of Commerce is an open, broad.
competitive market Of advantage to
~. brsaucers, Of grain; that hedging
otnusa purchases and sales Of grain
ox fatars delivery, against -four sold
- wheat purchased, as practiced by
nIera and operators Of elevators,
q res u useful function in carrying
4 kalalaas the grain creps; that by
slSisatiag risk it reduces to the
niinuns The ssst Of carrying and mill
igTaia, and thereby the price mar
III bstweel the producer and con-
0Aer, and that any legislation which
ulala prevent such hedging" would
= detrimental to grain growers and
0Rsunsrs Of grain products.
We commend the effort of the
0hanbsr Of Commerce to secure in ex
el1nss generally regulation of trad
hs in grain that will tend to prevent
C limit inprsvident and ignorant
Speculation and We favor the restric.
ing Of brokers o1aees for trading in
faDsres to cities Of the first class.
"Befsre ysur committee represen-
tatyes Of The se-sal1ed Independent
seaia exchange, Lsftus-Hubbard com
pany ana the Equity Cooperative ex-
change, made the claim that the
chamber Of Commerce was monop.
sty, and that being private corpora
ten with a limited membership, it did
net acord free and open market for
the disposal of grain. The evidence
submitted to your committee shows
that no one has been denied member
ship in the Chamber of Commerce
who was Of good character and fin.
ancial standing. 1t does not appear
that any farmers cooperative COM
panies are members Of the Chamber
Of Commerce, nor that there is any
thing to prevent any such company
from becoming member A number
of memberships are not used for ac-
tive trading and memberships are
sold and bought and it does not ap-
pear that the right to membership
has been denied or restricted in such