The Brookings register. [volume] (Brookings, Brookings County, S.D.) 1903-1971, 1915-05-06
OUR r A
WATERFOWL, s. ID.

tenn claim that sit is this department
Grading in ~futures) that absolutel,
prevents the monopoly OF the grain
business by any man or group O
men," II it is an absolute %preventa
tive of private monopoly, then VIII.
experiment further trying to regulate
or control the other monopolies by
legislation and legal process?
Why limit the business to one close
ly guarded in a privately owned
building, in a very few OF our larger
cities and only for a few hours daily
Why the Sherman antitrust law? The
interstate commerce commission? The
industrial commission? All that is
necessary is to organize our CONNER,
cial clubs in every city, town and
village into open general commodity
exchanges, and the high cost of living
and trust problems would be scolyed.
The fact is that our grain exchanges
are unique in that they are the most
perfect monopoly in existence. AS al
ready shown, when you buy a mem-
bership, it does not make you a mem
Der. You will have to pass a test
like unto that of the detectives so
called third degree"
First:-You must get two members
to sign your application to become a
member. Second:-You must sign
some kind of a cast iron agreement,
too strong to be made public. Third:
You must pass an examination and
investigation by a members commit
tee" and If successful, Fourth:-You
are passed on for a more rigid inyesti-
CATION by the directors membership
committee" and if again successful
your application Is posted for 10 days
when, Fifth:-You are submitted to
the secret ballot test. Can you beat
that?
Imagine what chance the representa-
tive of a cooperative farmers organ
ization would have in the Minneapolis
Chamber of Commerce.
Should you pass the ballot test you
become a member on s~uffrance, under
the rules being subject to all kinds
of pains and penalties, including eX,
pulsion, without legal
Another anti-monopoly 90 feature
is that a subsidiary association fixes
and sends out daily the price to be
paid at interior points for grain, and
to make sure that no n buyer may
purchase more than his previously
share, If he does his company
must pay a penalty to his competitors.
Still another free, open market 90 de-
vice. The Minneapolis Millers refuse
to buy wheat from the Equity Co.
operative exchange. a real open mar
ket, anti-gambling cooperative farm
ers association. What should the CO.
operative and all other farmers do
about their -four? These same millers
insist that they could not do business
without unlimited trading in futures
on the exchange. That is they could
not buy and grind one bushel of wheat
they and their associations
could buy or sell 100 bushels of wind
wheat in Minneapolis, or 800 in Chi
cago.
Whu have tho nnt1Iarc ~aua. nJo-tol
this great, modern windy device for
The sale Of their -four and by-products?
lust why men engaged in the legiti.
mate and time-honored business OF
manufacturing wheat into -four and
men engaged in the legitimate bust
less of handling grain should insist
N the perpetuation of this very un-
annex, is very hard to
Understand, II we look at the surface
'nly. But a little figuring on the
acts as revealed in the investigations
make 1t quite plain.
The millers and elevator companies
AVE organized subsidiaries of their
'wn to whom this department be-
the most profitable of the whole Z
'usiness. The one cent commission
or the handling Of the actual grain
; not too much. The one-eighth of a
emit per bnshel for handling the OPP
Ions is apparently small. but when
add the commission Of futures to
hat on the actual wheat, 1t looks DIFF
erent. For Minneapolis. to the one
emit commission must be added the
ne-eighth OF a cent on 100 bushels Of
ptions making the total commission
ne plus l2h or q total Of 1sA cents
nd 10 Chicago one cent plus one
ighth Of q cent on 800 bushels max
az for each bushel Of actual grain
andled commissions Of ssh cents.
This explains the advantage Of a
vely. or better still . Wild market, for
be commission men. who In turn are
lillers and grain buyers. The bene-
Charles receive thoaa an0rmous com.