The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1920-06-14
COLD STORAGE AND PROFITS

In oldcn times perlshablc products varied In
price according TO the seasons. when product
In season n whs plentiful and the price went
down often beyond tho point OF paying the ex-
ponso OF gathering the crop. Out OF season tho
product could hardly bo obtained at any price
The coming of cold storage facilities changed
all that. II enabled the handlers OF pcrishabes
to store up In season against the time whom
nothing was being produced. This was n great
convenience TO tho public well m a great sta
biiizer Of business. or course the general aver
age OF prices was greater than 1t had been OF
old, but the convenience WINS worth all Il cost
and tho public was thankful
But IN the train of this Improvement various
evils came Into being. Farmers raised vast
crops that were absorbed In the mass by tho
speeulator. orchards were purchased by tho
field, and many n time the farmer before the
next crop came In had to buy back what he
raised himself at considerable advance for
his People living In fruit sections
could only get the product shipped In from
trade contcrs. Just like those who lived where
fruit was raised. Fruit and stock raisers.
tempted by offers of purchase that paid them
for their investment without any trouble OF
gathering the crop were prone to sell moro
than they ought to and did not reserve enough
for personal needs, let alone to sell to noighbors
and friends.
Pretty soon the profiteer took advantage of
the power placed in his hands by the ability 20
put things In cold storage and not sell them
until he chose. Markets could he cornered and
the price raised up to an extravngant figure
or. II II suited their purpose. they could dump
any amount Of goods or cogged market and
force the price down. Both processes were
tiflcial and In violation OF tho law of supply
and demand Not always was this robbery. but
II made robbery possible ana there not lacking
many 20 make hay while the sun shone with
the power OF the cold storage warehouse behind
them. Thus what had been intended u great
boon to humanity became only a tool In the
hands OF proftcers to rob the consuming public
Taking cognizanco OF this condition, the banks
have decided or so 1t In announced. to withhold
credit to men engaged IN illcgtimate speculation
IN the necessities OF life At first glance this
looks like a good move. 1t requires immense
capital to store the cold warehouses with goods
and hold them for six months or n year. II the
banks withdrew their support from such vii
lainy the specuiator Will be scotched Yet Is
quite possible, even probable. that this plan will
work injustice and embarrassment TO men who
are engaged In legitimate business Bankers
are not much moro gifted with infallible judy
mont than men In other walks OF life Producers
who need funds TO carry them over long peri
ods due TO the mutations OF the industry may
be compelled TO quit business or shrink their
scope OF activity. II is nos Intended that any
worthy man shall suffer- but It is a rule Of ma
ture that whatever policy IL proposed as a ben
eft 10 the majority will In some cases prove
an injustice 10 an innocent few. Many good
things have been proposed that did not wprk
out as intended.
on the whole, however the public will look
with favor on the practical abolition OF "frozen
loans" II would look as II the benefit 10 accrue
from this decision would far outweigh any pos
sible damage. At any rate, anything which
promises 10 lberate the public from the high
cost of living, but particularly from the tyranny
OF the market manipulation. win be generally
approved. Mistakes will doubles be ma de- but
the aim OF the bankers is 10 limit their loans
to a reasonable time which might be expected
TO elapse between production and consumption.
Thus the public may be able TO get the benefit
Of cold storage facilities without putting a club
d