The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1913-03-05

that the cut Of our own terminal ele-
vator" had disappeared in this
months advertising, .
Replying to Oluf L. Bruce, attorney
for the Independent Grain exchange,
Mr.. Trovaten said that they agreed on
forming the exchange in November
and provided a room at that time, in
the Corn exchange now used for the
purpose since the exchange was
formed.
At the opening of the hearing today
Benjamin Drake, attorney for the
Equity Cooperative exchange, called
attention to the fact that the name of
Representative A, F. Teigen did not
appear on their letterheads as q di-
rector, but as a representative, which
Mr.. Drake said is not an officer Of the
organization. W.
Rrandeis Is Mentioned.
When the name of Mr.. Brandeis of
Boston was brought into the hearing,
H. v. Mercer, attorney for the cham
Der, objected to the details of the con-
ference, and Mr.. Drake stated his
offer, saying he would show that Mr.,
Brandeis had advised a suit, holding
! that the Chamber of Commerce is a
monopoly in restraint of trade. The
conference was a few days after the
resolution had been adopted against
members dealing with outsiders who
fraudulently charged a double COM
mission and just before the ruling
| with regard to uniform track bids was
rescinded. MI. Mercer said If this
evidence was admitted they should be
| allowed to examine Mr., Brandeis, to
show that he did not know the facts
or the law. After some debate, the
committee ruled out the testimony ex-
sept answers to questions from Sena-
| tor O. A. Lunde, showing that they
had legal advice from MT. Brandeis
and MI. Manahan.
Mr.. Trovaten explained that he first
thought the Equity Cooperative ex-
| change was a real exchange, but later
they thought it advisable to organize
an independent exchange where not
only their customers, but the general
| public might come in and trade. Mr..
Mercer then went after the witness to
show that there is really no public
trading in the Independent Grain ex-
| change. He admitted that practically
| all the business is done by the LOTUS
Hubbard company or the Equity Co
operative exchange. Il can't say that
| any business has been consigned to
other parties said Mr.. Trovaten, but
others have come in to buy"
Can Come In and Trade.
1.-THE Equity's customers, weren't
I they? ?" pursued Mr.. Mercer.
We'll" said Mr.. Trovaten, Il have
known other men to come in and talk
over deals.Y -
."As a matter of fact there is not
really an exchange there?" asked Mr.,
Mercer. ...
there isn't" he replied. I'VE have a
room there where anyone can come
in and trade"
"The Equity Cooperative exchange
has paid the rent, hasn't it,"
Yes"
Mr.. Trovaten testified that the
trading room is about tWo-thirds
which the investigation is being held
and that besides the grain tables it is
occupied by the Equity's sales agent
by "Mr. Alex" the claim agent and by
"Mr. Ffolliot - of the Superior Hay
company.
Have you any pitt" asked Mr.
Mercer.
"No,' returned the witness. eve
are all on the same, level" He re-
called two men coming in once and
talking over a grain deal. Another
time a Wisconsin man came in with
two r. of cordwood to sell and he
turned the man over to the Superior
Hay company.
Doesn't the Equity Cooperative
exchange really have a monopoly on
the business Of this independent ex-
changer asked Mr.. Mercer.
NO. he answered.
Hasn't he handled all the business
that has come in except those two
cars of cordwood? p Mr.. Trovaten said
81 was a mistake on their letter head
to advertise James Manahan as a di-
rector, but that he was and still is liz
general counsel of the Equity Coop.
eratiye exchange.