The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1915-04-24

report Of the shipper, which was also
the Equity Elevator & Trading Co. of
Breckenridge, the purchaser was not
named. In this instance this car was
turned over by the Equity to the
Johnson & Olson Grain Co. for sale
on commission for the account of the
Equity, and Johnson & Olson sold 1t
to the Pilsbury flour mills at the mar
ket price of 81 cents. Johnson & OIL
son accounted to the Equity for the
car, deducting / cent commission and
the usual freight charges, etc. The
Equity then rendered account to the
shipper, stating that the car had been
sold for SO cents a bushel, and de-
ducting a commission of 1 cent and
the usual feight charges. This is one
of the specific instances of a great
number that could be cited, showing
that the Equity officials deliberately
made false returns on cars to the
shipper. .'. ...
A North Dakota Victim.
Following is an instance where
North Dakota shipper, the Noonan
Farmers Elevator Co., got stung for
several cents bushel on a car of
grain.
The Noonan Co.. shipped Great
Northern car No. 2S,692 from Noonan,
n. D., and it was reported on Jan. 2,
1912, as applied on sale to arrive at
S51s cents a bushel." This was a de-
liberate fictitious report. Great North
ern car No. 1882 was actually sold on
the track on arrival to McCabe Bros.
for SSh cents. which was 1 CENT
UNDER THE MARKET. It was re-
sold by McCabe Bros. to j. III. Elber-
ling Mill Co, at the market price.
This was not only a deliberate fraud
he vk,f e a a 4
cents a bushel under the price ne
would have received had he sold di-.
rectly to McCabe Bros.
The Fake Agent.
The complaint alleges and has am
davits to back up the allegation, that
the EQUITY sold to false agents. That
is sales were reported as having been
made to Nels Enge or some other
employe of the Equity. Enge was
supposed to be the agent who bought
the grain when in reality he was an
employe of the Equity concern.
>- Other Charges.
Besides all these charges or fraud,
the complaint charges that large sums
of the stockholders money has been
wasted for political campaigns in ex-
penses in Minnesota and North Da-
kota. 1t is alleged that George >.
Lotus is now drawing S4OO per montn.
All the expensese of the grain and
produce business which he is con-
Quoting was borne by the corporation.
It is alleged that Lotus exercised full
and unrestricted power and authority
to borrow large sums of money in its
name, execute its promissory notes
therefor, pledge its property, loan its
funds and extend credits and incur
obligations, all without the control or
consent Of, or consultation with the
executive officers of said corporation
or the directors thereof"
It is alleged that the corporation
has not lived up to its agreements to
acquire terminal elevator or eleva-
tors, or to afford and provide cheap
er and better means of disposing of
it's customers products nor has 1t
lived up to it's promises. made to
prospective purchasers of stock, that
'ft does and will obtain better prices
for such produce than any other COM
mission merchant can obtain" nor
has it lived up to its promise to fur
nish, not only a profit in the way of
dividens to stockholders. but also a
So called patronage dividend to its
customers.
Farmers Swindled.
A.. -