Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1914-05-26
BY J. z. KELLEY,
Director Of the Farmers Cooperative
Annexation Of South Dakota


On Nov. rs last l made an investt-
cation of the price Of corn IN the
MAJ kets Of Chicago, New York and
Liverpool.
On that day orn sold in Chicago
at - IL cents, New York 50 IL cents
and Liverpool 6s I'd, or in u money
SO IL cents for Sc pounds. Within 20
days of that time corn declined in.
price in both Chicago and New York
fully 10 cents a bushel, while in Liv.
erpool within 30 days it actually gain
ed IL cents a bushel.
At THE time the farm papers were
flooded with articles evidently inspir-
ed by the different boards of trade
and chambers Of commerce, telling
the farmers that Argentina corr com.
ing to this country under free trade
had caused this loss to the corr
growers. l pointed out the fallacy
of the contention, showing that at any
time during this period corn could be
bought at a price 10 cents higher
than Was being paid in this country,
and a fair margin Of profit realized
by shipping to Liverpool, where Amer
lean mixed corn was in high demand
but no corn was there to meet de-
mand.
Appears Before House Committee.
This condition l pointed out in sew
real articles in variuos periodicals. in
the Northwest, and also presented at
the investigation at Washington be-
fore the house committee on rules.
On this occasion Mr.. Stream of the
Chicago Board of Trade undertook to
reply to the accusation against the
speculative interests, and in doing so
his only defense was that the condi-
lions complained Of existed only for
two days in the Liverpool markets.
Whereupon the market reports as
given by the Chicago Record Herald,
the Chicago Tribune and the st. Paul
Daily News we're presented, fully sub.
Stimulating the allegations.
Popinjays from various parts of the
Northwest who imagined they had in
terests in common with the big ma
nipulators all joined the chorus against
the terrible effect of Argentina corn.
ignoring the fact that It neither came
in. competition with American corn
this country. s0r in Liverpool to any
appreciable extent.
Prices Now Normal.
1t was not the Argentina corr that
caused the. slump, but the American.
sgEaiasggaMblers and spectators, and
j predicted that as soon the bulk
al lthescorn got out Of the hands OF
the farmers the price would go back
CORRESPONDENCE; to the Liverpool
price OF American corn. Accordingly
I here give the price ofscorn in Chi
5caso, New York and Liverpool May
15-=-(note how the prediction is veri-
fied): Chicago. 70 cents, New York
80 cents, Liverpool 80 cents. f
,ssNotice that the spread between
New York and Liverpool at this writ
ing Is 10 cents a bushel, that until
it~got@ practically out Of the farmers
1t was from 10 IL to 20 cents a bushel.
Please take further notice that corn
is being bought at the present prices
II the'United States for export, 1O0,.
900 being sent out from Kansas City
May Is. Yet corn is not any higher
in the Liverpool market than it has
been during the entire winter just
'pastFhen the spectators aad gam
bfers were buying the corn of the
American farmer fully 10 cents q bush
ell below the export price.
Farmers Lost $100,000,00o
Thus it is perfectly apparent that II
the corn growers Of this country sold
1,O00,OOO,0O0 bushels the past season
out of a total 2.70O,OO0,00O bushels,
they easily fleeced by the mar