Pullman herald. [volume] (Pullman, W.T. [Wash.]) 1888-1989, 1920-02-13

information than any individual
Spectator, and you can afford to en-
ploy men who are experts in market
ing wheat to interpret and act on
that information. Why not give all
your thought and attention to the
problems OF producing wheat as
cheaply and efficiently as possible.
problems which you understand and
can solve, and leave the selling of it
TO men who understand that prob
lem? Why, every year you worry
more about whether to sell or hold
your wheat, and then growl more
because you did the wrong thing
than you do over all the seeding and
harvesting. l should think that YOU
would jump at the chance to get rid
of all this worry.
i admit that l haven't been a very
good guesser on the wheat market
but Pete Russell the store keeper
was saying to me that he wouldn't
trust any hired man to sell his wheat
for him. That the farmers couldn t
get any man smart enough to han
die such big sales, who wouldn't lob
EN- or use poor judgment and bust
EN-. He says it's too much power to
put in any one mans hands"
But the sales manager has to re-
port to and act on the advice of a
board of directors made up of wheat
growers and elected by wheat grow
ers. They are going to watch him
very closely and consider all sales
carefully, for their wheat is involved
Just as much as yours, and when they
sell they get the same price that you
do, no more and no less. The Cali
tornia fruit growers have found men
smart enough and honest enough to
handle their sales for them and the
wheat growers can do the same"
But where in blazes is the money
coming from to buy or build and run
| all the warehouses and elevators of
this warehousing corporation? That S
what Phil Dodd says he cant get
through his head. He says there
amt no need for it, that the wheat
could be stored and handled Just as
well by the same warehouses that are
doing it now. He allows this ware
housing corporation is just another
plan to graft the growers"
There you go again, Daddy. Why
don't you use your brains and do a
little thinking for yourself instead Of
accepting as gospel truth everything
that anybody tells you. You know
that the marketing association will
control the warehousing corporation
and own all the common stock. Just
enough preferred stock will be sold
to buy or build and equip the neces-
sary warehouses and elevators. What
object would the association have in
grating itself through the warehous-
ing corporation. The object of the
corporation is not to eXtort big divi-
dends, but to earn enough to pay
running expenses, not over eight per
cent dividends on the common and
preferred stock and to create fund
with which to retire one-sixth of the
preferred stock each year, so that at
the end OF six years the association
will have the facilities to handle the
wheat of its members free and clear
of all Indebtedness. The corporation
will get the money to buy or
build its warehouses and elevators,
just as your local Farmers Union
Warehouse CO. raised its capital,
by selling stock. The farmers can
easily subscribe all Of it if necessary.
And there won't be any trouble about
the houses paying for themselves.
GU KNOW MHdI DIS pI OLlto many VI
them have earned. The selling asso-
citation would have all kinds of
trouble over grades and weights and
shipping if it stored its grain in
warehouses which it did not control.
1t can not issue receipts to itself for
it's own wheat, and to make the re-
ceipts negotiable under the law,
must have the warehousing corpora
ton as a part of the system. Talk
about graft l should think you had
been grated enough on weights and
grades at some of the old line ware
houses to make you want to store
your wheat in houses which you con-
troll. 1t makes a big difference
whether a warehouse is run to give
service to it's patrons or to make all
the traffic will bear for its owners.
But. Faith, there's another side