The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1914-03-09

Continued From Page One.
han as counsel for the exchange"
81 was counsel in that case" Man
ahan admitted.
In his opening statement to the COM
mlttee Judge Simpson said that the
Minneapolis Chamber Of Commerce
did not oppose an investigation on
broad lines. He assePt@3 that the
chamber OF commerce ta&GB -Ae grain
crop and handles it on less margin
than any other product, not exceeding
4 cents a bushel difference between
TIE price paid the producer and the
price paid by the miller.
Should Include All Exchanges.
Judge Simpson also asserted that in
his view Of the case the proponents OF
the resolution had not made out a
prlma facie case, but in any event. il
an investigation is ordered it should
include all grain exchanges and not
confined to the three named in the
resolution.
Judge Simpson then took up the
charges made by Ben Drake that the
state Of Minnesota Is boss-ridder and
in control Of the Great Northern road.
minnesota" said Judge Simpson, ais
as far advanced as any other state in
the Gn;on Under its trust Jaws it has
NoSS "a ~S%1~SAS0 ~ eotll1ALtI'l VA
Go. and more recently the Creamery
Package Co., and has compelled them
to discontinue their monopolistlc
business. These prosecutions were
instituted by the state officials. The
Northern Securities case, the more re-
Gently decided rate case and others
We're initiated by state officials.
failure of the state officials to proceed
against the grain exchanges,b con-
tinued Judge Simpson. II call the at
tention of the committee to the case OF
luth Board of trade. This was In 1903,
and the decision was in favor of the
Board Of trade. This shows that there
was no failure Of the state officers to
act, but that the clement of monopoly
liz not exist in the operation of the
grain exchanges, as ascertained by the
courts" '-~'
Showed Incorporation Articles.
For the Information of the commit.
tee, Judge Simpson introduced the
Cooperative exchange, showing thai
1t is organized to buy and sell grair
and for other purposes. 1.-THE articles
s snounPR f OF Z Stock th Is sS MbasniD z t Ssst sn:
change can build elevators" sale
Judge Simpson. There Is also another
provision setting aside a certain sun
for organization among the producers
The only element Of cooperation IL
the articles OF Incorporation is a pro
vision for the distribution Of an 5 pei
cent cumulative dividend among tn,
stockholders. Counsel for the Eauit!
exchange contends that there Is {
monopoly, but there is no fear Of {
monopoly expressed In these articles
Judge Simpson also commended tina
in reality the terms exchange n co
operative as used by the exchange ar
misnomers. Answering O. question b.
Representative Lenroot whether Their
Is an independent exchange in Mime
apolis, Judge Simpson said there wa
none. EVERY time an investigation
Is imminent Lotus and others start t
said. @
Given Chance to Examine Books.
Controverting statements made b.
Ben Drake that the legislative com
mittee was denied access to the book
of the grain men, Judge Simpson sal
that every opportunity was given tn
committee to examine the books 9
apolis. 1--WE took them to the Cham
Der OF commerce. also and gave theI
ali the figures relating to future trad
ing" said Judge Simpson. I'VE conl
gers, because that would have been a.
: invasion OF their private business"
= ut is true continued Judge Sinnp
: son., that in n case a firm refused Z
! books because he knew that Manaha
: : was admittedly a partner In the Lot
J tus-Hubbard company" Judge Simp
7 son also told the committee tha
George Lotus a made q speech 9
which Lotus said that there would b
an investigation, and naming some 10
the members OF the committee Whic
Y was afterWard appointed, and Stain
! that Marlahan would be the counsel.
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