The Ward County independent. [volume] (Minot, Ward County, N.D.) 1902-1965, 1913-04-24
INDEPENDENT SUBMITS

others connected with the exchange,
we were subLoenued to appear as wit.
nesses On the 9Th day CT March. 1912,
before the senate committee invest.
eating grain exchanges In Minnesota.
Now, We cid not take our troubles be-
fore this committee voluntarily, az the
Equity people advertise; We were tax.
en- under surpoena-but we got more
money fer what VIC had coming from
the Equity Exchange as We will here
matter explain.
Ten cars OF .his grain was stored
grain which our manager, MT.
Schmidt, ordered stored there, as the
Equity Exchange advertise on their
letter heads 'sWe are in position to
store your grain They claimed t.
us that they had stored this grain, but
they did not send US any warehouse re
ceipts for 1t.
In February thsy wrote US that they
had sold 5000 bushels OF grain for US.
to arrive, and wanted to know when
they could expect some grain to I'LL
the sale. Our MI. Schmidt again
wrote them, telling them they were
mistaken. that lie had not sold any
Grain to arrive, and asked them 20
show him the letter wherein he had
given them any such orders. On the
esth day OF February we set another
letter from them saying they had sold
5000 bushels of grain, for rs, to ar
rive. and as we only had ~ days IL
which TO fill the sale. and as wheat
had advanced in price they would have
tc buy in the sale at loss Of about
$3.50. 90, which they would have to
charge tc our account.
When we got down there We asked
them to let us see tho letter that they
had received from us telling them Ia
sell 5000 bushels to arrive, they then
said they had been looking the mat
ter up and guessed they were mistak
en-; for us not to worry about it.
the would cuy IN the sale at their OWL
loss and that would end it. We asked
them for q letter to this effect to take
home to our directors to show that thu
thing was closed, but they refused t.
do this, saying that they did not have
time.
On the 18th day OF December, 1872
we shipped then, 500 car No. 31SC'
and up to the lth day of March, 1919
the Equity Exchange had not remit
: ted for tots car. or even reported re
ceiying 1t. We took this Up with then
and after some arguing. VIC finally 80
credit for 1.-THE net proceeds amour,
ing to $3.50. 80.
When We went 10 them then STATE
ments showed balance cue US o
about $500. 90, while we claimed owe
$4,000. After getting credit FOR thi
car Of grain their books showed US
balance OF about $4100, while we sti:
claimed $47le.25. They claimed W
had not given them credit for on
$500 check, while we claimed we ha'
given them credit for Eli checks. Tn
second day before the investigating
committee they found their errol
They said that in posting their checl
No. 1859, for $24S.97, they had post
cd it for s74o.37, making $500 90 il
their favor. We Gould not get thi
error corrected until after We had go
them before the Minnesota senate in
vestigatirg committee. This brough
their books UP to s4696. 10 due US.
They charged us up with rar NOR
interest than they should have. W.
had had balance coming from then
from in January for over $4,000 and OF
February Is we got account sales from
them on car No. 1864 and had chars
ed US sl.75 interest on the accom-
sales Ne hao balance due US fron
almost the start, out on most ever:
car they charged us up with coupl
Of dollars Of interest. When the!
settled with us they finally rctunde,
to us $62 IL in interest.
The net proceeds Of car No. 1915
was 1884,. 03, but they had given u
credit for only $500, making s34. 0s /,
their favor. They claimed this as a,
error on their part. En-
We claimed that cars no. 460s ant
24l7s had been solo under the market
they claimed not, but before the cen
ate investigating committee, they 90