The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1913-03-03
Prayer Books
and
ROsaries for
Easter Gifts
The Suadberg
Co.
FARGO. N. %.
Phone Sos

Il AESAkASs LAAASA - $3.50
| cars have ever been turned over Dy
them in thai way since he has naa
| charge. Asked ABOUT a sale 70 inc
International Grain Co. in NoYempers
Mr.. Lotus replied he knew ABOUT
that car, that it had been resold 10
Mccarthy Bros. who had sent Word
right back to the shipper showing him
now. they had paid a higher price for
the car. and the shipper had made q
mistake in consigning as he did. Ask
ed about sales of eleven other cars
about that time to the same company
Mr.. LOTUS said he did not know ABOUT
them. AS to four cars sold to the
| Banner Grain Co. and later sold on
| the floor of the chamber OF commerce.
Mr.. LOTUS said he understood the cars
were to go to a Lacrosse mill. lie
said that they often sold cars to r.. j.
Johnson & Co. but have no arrange
ments with the company to sell for
them on the floor of the lamb OF
commerce.
"Do YOU not know Of cars sold by
| you being sold on the same day on the
floor of the chamber of commerce, az
1 to 8 cents a bushel higher?"
Mr.. Schmitt -queried. Il don't Y
it." answered Mr.. LOTUS. The
chamber of ommerce would do this
to create an impression on the coun-
try shipper and put us out of busl@
- HwHs
ness
Agree on. Test Comparison.
"If the information is of any value
he continued, at ought also to be
shown that cars sold on the chamber
floor often pass through two or three
hands, and sometimes up to or
eight, and the profits made on these
care ought to be shown" This was
pursued, with a request that Mr.. Lof-
tus furnish a list of cars sold by them
to chamber of commerce concerns
with the prices paid. He proposed in
turn thai the chamber of commerce
furnish a list of it's cars handled for
one month. ]. G. McHugh said this
would be an impossible task and Fred
b. Wells proposed that a certain num-
Der of cars be taken for comparisons
After some parley agreement was
reached. Fifty cars of mo grade
wheat and fifty cars of barley sold in
November by the Equity Co-operative
exchange are to be selected by the
state inspection department and traced
to get the record Of sales all the a
to the consumer, and a like number
of cars are to be selected from sales
by chamber of commerce commission
houses, to show the comparison as 10
profits made and the margin between
the producer and the consumer by he
two methods of handling.
Mr.. Schmitt rested his examination.
Benjamin Drake s-examined Mr.
LOTUS briefly. He said that when they
had four cars sold on the chamber of
commerce floor they did not know OF
the rule adopted by the directors
against dealing with certain outsiders,
He also testified that he is sole owner
of the assets Of the Lotus Hubbard
Co.. s.s
Ntzhugh, Explains Boycott.
Cross-examination of Secretary j,
G.. McHugh of the Chamber of Com
merce by Benjamin Drake was ended
yesterday before Mr.. LOTUS took the
stand. Mr.. McHugh resisted efforts
to make him say that speculative pur-
chases result in manipulation of tho
market. He declared that speculative
trading helps to keep the market sta
BILE, and that prices are fixed by sup
ply and demand. Speculative purchas-
es affect the market, he said, but only
to keep it in line with conditions as
the trade sees them. Asked about the
resolution Of the board of directors Of
the chamber, passed Oct. IL last, Mr..
McHugh said that it was not prohibit
i've of dealing with outsiders, but only
with those who defraud the public by
pretending to charge n commission
and sending the grain through other
hands at higher cost. He read the
IIGSOluN4OlA ~ - GABlOAI ~ Rol POHph
Asked what basis there was for it,
Mr.. McHugh said they had received a
number of complaints, and Mr..
asked for one in particular. He cited
one sent by q North Dakota farmers
elevator, which he had investigated,
finding that two cars shipped to the
Equity Cooperative exchange a
been sold by P. E. Cooper to the Coop
er Commission company n by 1t to
the r. M. McCord company, commits
gions on one car coming to 2b cents
and on the other to IN cents a bushel.
Mr.. Drake said he did not care for the
details, but Mr.. McHugh persisted in
giving them to the committee. Mr..
Drake declared that p. E. Cooper new
err was connected with the Equity CO.
operative exchange.
Today's Testimony.
Further examined by Mr.. Schmitt,
before the committee meeting in the
senate chamber today, Mr.. Lotus tes-
titled that he considers it all right to
deal in Futures to cover legitimate
trading though some of his associates
differ with him on that point. He also
sees nc improperly in mixing grain
in the elevators and does not think
the producer loses anything by the
practice, though the buyer might. Mr..
Schmitt then asked Mr.. LOTUS about
q. speech he made to grain growers at
Fargo, Jan. is. ibid you state" Mr..
Schmitt asked, that YOU and Mr..
Manahan were originators of the in
vestigation about to be undertaken by
the house and that Mr., Manahan
would be attorney" He also did not
recall saying that he had information
as to certain members of the house
who would be on the committee.
Fl. ". Mercer produced articles
showing the special partnership
agreement of General L +. Hubbard
and James Manahan with the LOTUS
Hubbard company, and MI. Drake de-
manded that the articles of ~incorpora-
company be produced, ito show how
they had feeced English stockholm
ers," Judge y. F. Simpson protested
against this attack.
Mr.. Lotus said that practically all
OF the business on the independent
grain exchange is handled by the
Equity Cooperative Exchange. He
admitted that the independent grain
exchange was not organized in De-
cember when both the Equity Coop
erative Exchange n the Lotus
Hubbard company were advertising
themselves as members OF the 'Tnde-
ket quotations OF the independent
Grain Exchange. he testified, are OBJ
tanned by telephone by one Of their
employees from members Of the
Chamber of Commerce.
Mr.. LOTUS was questioned at length
by Mr.. Mercer concerning alleged
agreements with members of the
Chamber OF Commerce, by which they
bought consigned grain from the
Equity cooperative Exchange and
reported the sale back at 1 cent nm
6ar y tho ma rKaf Is IN NJ = 4 SEX