davidaulloa/AmericanStories huggingface dataset:
The Irish standard., 1914-05-30

commission merchant in Offering the
grain of the country shipper for sale
in the Exchange Room, is able to Sc
cure at all times full market values
owing to the keenness of the COM
petition existing between the regular
buying interests themselves and be-
tween them and the speculative buy
ers, or scalpers.
The Commission Rule.
One of the regulations of the
Chamber of Commerce that has at
times been criticized is the commits
sion rule, which provides a minimum
rate of commission to be charged
for the purchase and sale of grain or
seeds. This criticism is entirely
without any just foundation. The
commission rule is one of the best
and most important rules of the or
ganization. The commission charges
provided are reasonable in amount,
and this fact has frequently been so
decided by the courts. In addition to
the fact that they are reasonable in
amount, it is important to country
grain dealers that the charge for SELL
ing grain or seeds shall be uniform,
so that all shippers to this market
shall be treated alike. 1t is also i'm
portant that the shippers to this mar
ket shall know just what the COM
mission charges are, and rule of
this character absolutely protects
the shipper from any exorbitant
charge.
Not only is it important that the
charge be reasonable and uniform,
but it is equally important to the
country shipper that commission
charge shall be required.
The commission rule and the COM
mission charge which it provides,
preserves to the country shipper and
the farmers elevator company this
highly skilled class of men, the COM
mission merchants, who form so i'm
portant part of this organization. If
the commission rule were destroyed,
and no uniform commission were re-
quired to be charged, the commits
sion merchant would Immediately
cease to exist. The result would be
that the farmers elevator and coun-
try shipper would find themselves
wholly deprived of these skilled rep
resentatives and it would be impos-
sible for them to secure anything
like the values they now secure
through these skilled agents. In
other words, it is exceedingly i'm
portant that there shall exist in this
market class of men strictly repre-
senting the country shipper, and
whose knowledge of the grain bust
ness enables them to deal on equal
terms with the buying interests. The
commission rule prevents these rep
resentatives of the farmers elevator
companies from being driven out of
existence.
mn a
The Irish standard., 1914-05-30
%

puACudsco LUZ AuIuIe uellVeiy, WulCu
are known as hedging purchases.
Wheat, corn. oats and flax, can be
sold for future delivery. Barley
cannot be sold for future delivery,
for the reason that while the keep
ing quality of this grain is satisfac-
tory. it is difficult to establish con-
tract grades which shall be sufri-
GENTLY definite for commercial pur-
poses; and barley is therefore not
sold for future delivery, but is
bought and sold by sample almost
entirely. Those engaged in the buy
ing and selling of barley therefore
must assume the speculative risk
connected with the handling of this
class of grain, and this results from
time to time in severe losses, and al
SO results in the fact that barley is
not and cannot be handled on the
same narrow margin that prevails in
the handling of wheat, and for the
reason as above stated that this class
of grain cannot be sold for future de-
livery, and for this reason only.
A farmers elevator company pur-
chasing wheat for cash, and storing
same at it's country elevator would
be specializing thereon if it did not
hedge the same by sale for future
delivery. If farmers elevator COM
pany, purchasing 5000 bushels of
wheat in September, Immediately
sells the same in a terminal market
for December delivery, the result
would be to secure the trade profit
on which this wheat was bought
from the farmer regardless of the
change in the market price thereaf-
ter. If this wheat has been purchased
at profit of &c bushel, after de-
Quoting the freight to the terminal
market this profit would not be in
creased by any advance in price of
wheat, or decreased by any decline
in the price of wheat Suppose this
wheat were shipped out in October,
and arrived in the terminal market
in November, and sold as cash wheat
and at the same time, the hedge, or
the sale for future delivery bought
in. If the price of wheat had ad-
vanced cents per bushel, an appar-
ent profit would be made in the sale
of the cash wheat through the ad-
vance in price. But, as is ordinarily
the case, the future month Decem-
Der in this case) would also have ad-
vanced cents per bushel, and in the
purchase of this hedge a loss would
be made of cents per bushel, which
would exactly Offset the gain in the
sale of cash wheat of S cents per
bushel. still leaving the original pro-
fit of cents per bushel.
Or, If the market had declined S
cents per bushel, the sale of the cash
wheat would show an apparent loss
of 5 cents per bushel through the
decline. But the future month or
hedge would probably show the same
decline, so that the purchase of the
hedge would show profit of cents
per bushel which in this case would
exactly offset the apparent loss of
cents per bushel.
This system of selling for future
delivery enables the farmers elevator
company. the Independent dealer,
and the line elevator company, to
avoid the speculative risk which
would exist in case their cash pur-
chases at country stations were not
hedged.
On the other hand, the miller fire.
The Irish standard., 1914-05-30
THE IRISH STANDARD


ture delivery is for delivery in one
of the months above specified.
Sales for future delivery in all rec
ognized grain exchanges are based
upon one or more contract grades.
These grades differ somewhat be-
tween the various exchanges, de-
pending upon the character and quail
ity of the grain produced in the terri
tory tributory to these exchanges.
The Rules and Bylaws of the
Chamber of Commerce of Minneapo-
lis, Sections / and 2, of Rule XII, pro-
vide as follows:
"Rule xI.-Rights of Parties on
Contracts.
Section LIN all sales of grain
and f1axseed for future delivery, the
grades shall be No. Northern
Wheat, No. Corn, No. White Oats,
and No. Flaxseed, as established by
Joint Board of Grain Appeals, or
other properly constituted authority
of the State of Minnesota; provided
that on all contracts based on these
grades, all higher grades of the same
grain may be delivered; and, provid-
ed further, that on all sales of wheat,
No. 2 Northern Wheat, as establish
ed by Joint Board of Grain Appeals,
or other properly constituted author
ity of the State of Minnesota, may be
delivered and applied at discount
of three and one-half (3k) cents
per bushel below the price of No.
Northern; and provided further, that
No. 2 Oats cannot be delivered on
contracts for oats for future deliv-
cry.
Section 2.-On all contracts grain
inspected either old or new can be
delivered, unless otherwise speci-
fed"
A purchase and sale therefore of
5000 blu. of Minneapolis May wheat
made in the Exchange Room of the
Chamber of Commerce is contract,
in which the seller agrees to deliver
to the buyer, sometime during the
month of May next succeeding, 5000
blu. of No. Northern Wheat, as es-
tablished by the Joint Board of Grain
Appeals, or other properly constitut-
ed authority of the State of Mime
sofa; and the buyer contracts to pay
for this No. Northern Wheat the
price per bushel agreed upon. The
Minnesota State Inspection Depart
ment is the judge as to the quality of
the grain and determines whether
the grain rendered on this contract is
or is not No. Northern Wheat.
1t is further understood between
the buyer and the seller, on account
of the Rules of the Chamber of
Commerce governing deliveries, that
the delivery of this grain by the SELL
er to the buyer shall be in the form
of warehouse receipt. issued by
public-licensed terminal warehouse
at Minneapolis, or within the switch
ing limits. This public licensed
terminal warehouse must also be
regular" under the rules of the
Chamber of Commerce; that is, it
must be recognized as regular" by
the Board of Directors of the Cham
Der of Commerce and it's receipts de-
liverable on future contracts.
The warehouse receipts which is
deliverable tn the hnver mist a1sO
have what are known as five clear
days before an additional term of
storage would accrue against the
warehouse receipt, during which five
The Irish standard., 1914-05-30


time on any business day during the
month of May, and can deliver No.
Hard Wheat if he so desires, with
out, however, securing any premium
therefor; or, he can deliver a ware
house receipt calling for No. 2 North
ern Wheat at discount of 1ac per
bushel below the price of No.
Northern. The loading out" charge
or other storage charges of the ter
minal elevator issuing the receipt are
fixed by the terminal elevator COM
panies and published in accordance
with the law during the first week
in September, for the following year.
A statute of the State of Minnesota
fixes the maximum charge that can
be made by the public terminal ele-
vatOrs.
Hedging.
Having explained the nature of
future contract, we shall endeavor to
explain how these contracts for flu
ture deliveries, or futures, are made
use of as hedge or protection in the
transaction of the grain and milling
business. At this time it might be
we'll to point out that there is great
carelessness in the proper use of the
word futures" and Options.
A future is a contract, as set forth
above. The only option feature in
connection with this contract is the
"option" which the seller has of Sc
Letting any one day during the entire
month on which to make delivery,
and also to exercise the privilege
which he possesses of applying high
er grades on contract or No. 2
Northern at discount of 31h cents.
In other words sales for May, July,
September or December, should be
referred to as futures, not as options,
the word "option" having a meaning
entirely distinct from that of the
word futures"
The word "option" is generally
used in connection with purchases of
land, an option upon piece of land
being right or option to purchase
this land at a fixed price within a
certain length of time. this privilege
or option usually being paid for by
the party having the option.
The purpose of hedging is to avoid
risk known as the speculative risk,
which attaches to ownership of any
kind of property, including wheat.
Whoever owns wheat, whether it be
farmer with wheat in his granery,
a farmers elevator company with
wheat in the elevator, terminal ele-
vator with wheat in store, or a miller
with wheat on hand for manufacture
ing purposes, speculates thereon.
That is, the owner of the wheat takes
the risk of loss through a fall in the
price, and also has the possibility of
gain through rise in the price. Leg
islation can never destroy specula-
ton, as this is something that is
necessarily connected with the own
ership of any kind of property, in
Guiding wheat.
In many classes of farm produce,
and in many kinds of merchandise, it
is impossible for the owner to hedge
or to protect himself from this specu-
lative risk, and many classes of farm
products and manufactured articles
generally must be "merchandised. -
That is, the manufacturer, whole
saler or retailer must assume this
risk whether they wish to or not
The result is that profit must be
The Barre daily times. (Barre, Vt.) 1897-1959, 1914-07-21
A ren-cent Fireless Cooker.

In the August Woman's Home Com
panion appears a part Of a page contain
ing descriptions OF homemade fireless
cookers. Those foods which can be best
prepared in freless cookers are soups.
cereals and stewed fruits. A New York
City woman describes, as follows. a
homemade fireless cooker which can be
made at an expense OF ten cents:
First / cut the newspapers the exact
height Of the canister. leaving them at
their ordinary width; then lined the
canister a. smoothly as II the paper had
been plaster. putting in one sheet at a
time and tapping the ends closely. but
not all in the same place, for 50 much
doubling would have made an awkward
hump. The last few sheets ] braided
top and bottom with paper fasteners.
Il used three small enameled pals for
breakfast dishes, J set the pails with
their prepared contents on the lighted
gas range to give them eve minutes
start. A stew should always Be- placed
IN the middle Of the cooker. where the
heat i retained longest When placing
food IN the cocker. one end 81 q Woolen
clcfh vent around the first huckef very
Enurly, 80 that il had 70 b crowded
down with force the other end
wrapped TIE middle baekst Just - tiEht-
III. TIE sscond cloth both u1rped and
covered The last backet-
The Barre daily times. (Barre, Vt.) 1897-1959, 1914-07-21
GAppING.

When the domestic life Of the Car
mans In Freeport, L. L., is analysed it
shows rather plainly that both were af.
hicted to an undue extent with the
senseless gossip of hair-brained gadders
who thought to have little amusement
at the expense of one or both Of them
by slyly limiting that the husbands in
terest in women patients might be some.
thing more than professional without
reference to the tragedy in which Mrs.
Carman stands accused and under bail,
such gadding was without doubt the
cause Of untold misery and distrust in
the household now in the shadow of
great tragedy. The question arises
whether those who circulated the sly
stories would have had the manhood to
refrain from uttering them had they
foreseen something of the consequences.
We doubt if their manhood would have
been any more pronounced than their
brains.
The Barre daily times. (Barre, Vt.) 1897-1959, 1914-07-21
Political Peace.

Ex-senator William +. Chandler of
New Hampshire, one of the early mem
bers OF the Ananias club, serves notice
that he shall keep in existence until
Aug. ! and no longer his offer to vote
in company with Messrs. Hollis, Reed,
Stevens and Felker for Senator CALM
ger and Representatives Reed and Stew
ems for the Congressional places, and
for a Progressive, preferably Winston
Churchill. for governor.
Mr.. Chandler is a man of peace. He
win 60 a long way TO establish his EZRA
of peace proposition, probably to the
extent Of fighting for il. He is willing
to get into fight in GIG, but just now
there is so much fighting in the world
that he wants a tri-partv alliance to com
pei political peace within the borders of
the Granite state. Consider" he says
~the various tribulations OF the present
wear. Abroad, home rule, rebellion and
feminine bombs and CONGREGATIONS in
England and assassination Of monarchs
in Austria; war Of the United States
with Mexico brought on by President
Wilson-in which he is receiving the sup
port Of both political parties; the Indus
trial Workers Of the World making
bombs and with them killing themselves
while trying to XIII innocent citizens
But Is the senator pursuing the right
mcthod Of soothing the restless spirits
Of the New Hampshire yeomanrys
Aren't they likely 20 get restless when
they think Of al the coinrs-on in the
rest Of the world and try 20 start some.
thing" to break the monotony of rural
life Boston Traveller
The Barre daily times. (Barre, Vt.) 1897-1959, 1914-07-21
MIDDLESEX.

Mr.. and Mrs. 0. w. Baker and two
sons OF Concord and Mrs. Thompson of
East Providence, r. l., were guests Fri.
day night at T. j. Eatons.
Miss Lillian Stockwell, who has been
visiting in Richmond and Burlington for
the past two weeks, returned Sunday
night.
Mrs. Adeline Mills of Sodus, N Y, is
visiting her grandson, F. j. Eaton.
Albert Crane made business trip to
Jonesville Tuesday.
Mr. and Mrs. Mervin Henson of Grove
ton, n. H., are guests of Mr.. and Mrs.
B. L. Palmer.
Mr.. and Mrs. J. r. Goodenough spent
Sunday with relatives in Waterbury
Center.
Mr.. and Mrs. Luther Russell were
over-Sundsy guests of their son, Roy,
and family, in Montpelier.
Messrs. Mann Of Randolph, Mass,
came Monday for a two weeks stay
with their aunt, Mrs. Herbert Hill,
The Barre daily times. (Barre, Vt.) 1897-1959, 1914-07-21
F. H. Rogers & Co.
RANDOLPH CENTER.

N. L. Boyden and family have been az
Camp Randolph in Highgate.
Guy Hebard and wife have been visit
ing his parents at the Randolph house.
NJ. ID. Church and wife have returned
from Greenfield, Mass, and with them
came Mrs. Church's sisters, Mrs Nettie
Packard and Mrs. John Miller, a niece,
Mrs. Lye, and son. The last three are
of Sugar Grove, III.
Fred Church came up from Greenfield
for the week end.
Frank Church has sold his farm in
StrafFord to Mr.. Smith of II
Mr.. Church has taken possession of the
farm he recently bought in Brookfeld
Mrs. Samuel Wales of Williamstown
is visiting her parents, Mr.. and Mrs. FL.
B. Howard.
The Barre daily times. (Barre, Vt.) 1897-1959, 1914-07-21

If anyone else than suifragette had
made an open threat in court to return
and blow up the court after being re-
leased from Jail, that person would have
been branded as a criminal OF the worst
degree and an enemy to society and
would have been brought back at once
to be sentenced further to a long term
behind the bars. Yet the woman pris-
oner who made the threat in an English
court on Monday was looked upon with
equanimity while she was making the
dire threat, and that, too, in spite of the
fact that the suffragettes have been
carrying out their threats in monotonous
regularity. II would not be surprising
If Others should gain a disrespect for law
which discriminates in such marked
manner
The Barre daily times. (Barre, Vt.) 1897-1959, 1914-07-21
THE DANGER UP NORTH.

Good news comes from northern Yer.
mont regarding yermont's hay crop. Fol-
illustration, here is the opinion of the
Newport Express and Standard:
Talk about there being a small crop
Of hayl One farmer told us his grass
was so thick and heavy he could hardly
force his moving machine through it.
Why. grass is SO heavy in Orleans coun-
ty Won can't drive team among the
haycocks without danger of tipping
over"
Indeed, all farmers throughout YER
mont seem to be coming out better with
their hay crops than they expected to
during the early summer. The eopious
rains of early July did the business for
the grass, as they did for many kinds Of
farm produce. Taken altogether, II
ought to be a good year for the agri.
culturahsts,
The Barre daily times. (Barre, Vt.) 1897-1959, 1914-07-21

Country" by Grace Miller White, The
story of Tess, with her quaint philosophy
of life, humorous and pathetic, is one of
the most powerful character sketches
ever written. Tess is an elemental type
of womanhood, primitive heart strug-
Cling with modern conditions, and the
delicate tortures of civilization. The
theme is full of uplift, and the dramatic
situations often force tear of which
we need not be ashamed. Mary Pick
ford as Tess, the ragged little "squatter"
girl, dirty but beautiful, rude, willful,
saucy, but noble and self sacrificing, rem.
ders a portrayal of inexhaustible fas.
cination. As a photodrama, Tess of
the Storm Country" will give its audi.
ences subject out of the beaten
path, and numerous thrills mingled with
the sweetest of human traits, compass
The Barre daily times. (Barre, Vt.) 1897-1959, 1914-07-21
"rHE RoMANcERs"
Regarding the Play Which Is To Be Pre-
scented By the Frank Lea Short
Co. for the Benefit Of Pare
playprounds.


"The Romancers' translated from the
French Of "Les Romanesques,' is consid'
cred the most delightful and charming
comedy that has been written by liv'
ing playwright. II was first produced
in Paris at the Coincide Franchise, where
| IL ran for whole year. The greatest
of comedians, Coquelin, played the role
of the brigand adyenturer, Straforei, and
il was because of his success in this play
that the more serious play OF "Cyrano
de Bergerac" was written. In fact the
character of Straforel is the same char
acter as "Cyrano" in this more serious
play.
"'The Romaneersp has not been pro-
duced before in this country, mainly be-
cause an adequate translation had not
been made OF it. The great English act
ress, Mrs. Patrick Campbell, had an ex.
cellent translation made for her we'll
known production at the Royalty thea.
tire in London, and she gave Mr., Frank
Lea Short the American rights of this
translation. 1t is considered most ex-
cellent one and brings out the full beauty
and the charming wit OF the original
French.
The story Of "The Romancers' is u
continual sequence of charm and poetry
and brilliant situation and exciting incl
dent. II is play which will appeal to
everyone, whether they wish brilliant
dialogue, cleverness OF situation, beauty
of setting or pure exciting drama COM
bined with the most laughable comedy.
1t is also play which win appeal to
children as well as to older people.
The imitation abduction with which
the first act closes has been said to be
the most brilliant climax of any act
which has been produced in Paris for a
number of years. Laughs, tears and
thrills are here combined in a few mo-
ments of swift incident, and the APP
plause which always follows is a sure
proof of the brillianee of the first act
Of this play, That the charm and inter
EST and wit continues through the two
following acts is well established
The production of Frank Lea Short |
has been said to be even better |
han the original presentation Of this |
play in Paris and the Barre Woman's |
hub was exceedingly fortunate to secure
his play for the evening of August 4. |
It will be given on Mrs. c. A. Smiths |
avn, and il the weather is inelement,
he presentation will be given in the
,pera house. ADV.
The Barre daily times. (Barre, Vt.) 1897-1959, 1914-07-21
South Enders Won.

The South End defeated the North
End playground team in fast and ex-
citing game on the Berlin street grounds
yesterday afternoon by score of 5 to l.
The South End won the game in the first
inning BY knocking Comolli out of the
box. The North End rallied in the ninth
but was checked by big league catch
by johnson. Batteries Gregg and Las
cor; Comolli, P. Righini and Cerasolf.
The score:
South End .......... 4II00lO0 lis
North End ...........0I 20000I 81
The Barre daily times. (Barre, Vt.) 1897-1959, 1914-07-21

Italy's proposal to spend Sl,ooo0o0
for an embassy building in Washington
might be taken to be covert slap at
the renting policy of the United States
for housing its embassies in foreign cap
itals. Still, Italy might spend less and
get in just as hard slap at us.
The Barre daily times. (Barre, Vt.) 1897-1959, 1914-07-21
Pavilion To-day.

At the Pavilion to-day Daniel Froh-
man presents Mary Pickford as Tess of
the Storm Country" "Little Mary" viii
be presented in the famous story of
woman's heroism Tess OF the Storm
The Barre daily times. (Barre, Vt.) 1897-1959, 1914-07-21

King George is showing considerable
tact in handling the Irish home rule
matter, or at least he is being credited
with it. Possibly there are some diplo-
mats back of the throne who are having
something to say about the conduct OF
the governments side of the discussion.
The Barre daily times. (Barre, Vt.) 1897-1959, 1914-07-21

Closely following the burning OF
small bit Of Boston's wood block pave
ment comes the burning of 1000 gallons
Of asphalt being prepared for use in
road making. Again the moral Isl Use
granite.
The Barre daily times. (Barre, Vt.) 1897-1959, 1914-07-21

Another automobile plunged off the
highway between Montpelier and East
Montpelier because Of the poor condition
of the road. Anyone in writing up Yer
mont's good roads could not by any
The Barre daily times. (Barre, Vt.) 1897-1959, 1914-07-21

Judge Munsons opinion anent state
taxation OF savings deposits in Vermont
national banks has distinctive support in
the opinion of United States supreme
court; and Vermont is not to be de-
prived OF a considerable source of income.