Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1919-06-09
ELEVATOR AND MILL
PLAN TO SAVE BIG
SUM, SAYS M'GOVERN
CONTINUED from Page ~

r.
mar of the state railway commission
for instance, marketed his big Barnes
county wheat crop of 1918 only a few
weeks ago, selling it for an increase
of 80 cents or o over the guaran-
teed price prevailing at harvest time.
Under State Seal.
THE farmers" says MI. .McGovern.
can store any part of their grain
they wish in their own bins. When a
farmer wishes to sell or raise money
on his crop. he will send for a state
grain inspector, who will grade the
grain according to quality and issue
a warehouse receipt. f'The grain will
then be put under paddock with the
seal of North Dakota. The farmer
can use his storage receipt at either
the state bank or any private bank
and borrow approximately 80 per
cent of the market value of the grain
on it. When the wheat is finally sold
by the state, the farmer will receive
the balance of the price coming to
him. At any time he can rescind the
order of the state to sell the grain
by surrendering his warehouse re-
ceipt."
Advantages Claimed.
1.-The. advantages of this system"
says Manager McGovern. sis that the
farmer will be able to get his money
out of his grain as 500 as it has been
threshed, stored and inspected. Later
the state will sell the wheat when the
price is most advantageous. When
the state makes the sale it takes the
wheat from the farmers bin and pays
whatever balance is due the farmer.
Through co-partnership between the
producer and the state, practically all
of the crop can be held off the Nar-
ket to await the highest price nj to
! secure the best possible selling out
let
In order to carry out Mr.. McGov-
ern's idea, the state, perhaps for sew
tie up in wheat between $150.000,00v
| and 5000. 0O0, 900. Probably half Of
!, this amount could be handled by the
Bank Of North Dakota. were it to de-
vote all of its to this one
enterprise. The remainder would
have to be borrowed from within or
outside the state.
How They'll Operate.
This is Manager McGovern's idea
of the operation of a terminal eleva-
The grower ships his wheat to the
state-owned elevator: the manage
nent weighs it. cleans it and issues
a warehouse receipt based upon the
value of the cleaned wheat and. the
storage screenings. The farmer will
take this receipt and procure ap-
! value at the state bank or a priv.ee
bank.
1.-The wheat is stored in the eleva-
tor bins according to actual quality;
the farmer will be charged actual
cost of storage; the farmer can re-
main owner of wheat in storage and
secure it's return upon presenting
warehouse receipt. or he can make
the state his commission agent in
selling it. In the first instance the
state. charges to the farmer the cost
of handling: in the second case the
state waits for the most favorable
! time and sends out samples: to the
millers and advertises for bids.
THE millers, knowing they can get
wheat that they a grade and mix
themselves, and of the fine quality,
will eagerly bid for this wheat, it is
expected"
Costs to Farmer.
When the wheat is sold the farmer
will pay for all the usual costs of
handling. weighing, cleaning and
storage. and he will be paid the bal
ance. plus the value of his screenings.
The state will publish a daily market
bulletin to keep farmers informed as
to prices. The farmer nay order his
grain SOlO "llClIcfol Vs. u 41ldIASt
reaches his price. The state will
charge only actual cost of carrying
out these orders or a small profit, re-
turns from which will be used to pay
off the bonds on these state enter.
prises ($5,000.0 900 in the case of the
mill and elevator association) or "as
state revenues to be used to cut dowr
taxes" als
The Millers. Happy.
The millers will be delighted with
this plan. Mr.. McGovern thinks, 'as
it will enable the big mills to buy
and mix their own wheat, as we'll, a.
assure them Of state guaranteed
prices which,, in the opinion Of the
best posted grainmen. will make the
North Dakota wheat in great demand
in milling circles"