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

.vstem trial' " n"' ~
HEARD? 80 wont down 70
/ Ill, and talked to Frank Smith,
lO' awner. and he said the plan
n' "a fine and ought to work out,
sOu lot of farmers couldn't finance
OD No SAYS if we sell our wheat for
|, wears to this marketing associa-
Y .ho hanks won't loan us money
Y. hon we can't pay our harvesting
~ .,ore bills in the fall. Now, how
NO going to get around that?"
.vorv easily. The use of the col
tive credit of the farmers is one
! the best features of this system,
Won go to the bank and put up
-. wheat receipts as collateral.
mo banker will advance you what
ons;ders the loan value of the
on a demand or short time
- If you want to hold the wheat
- the market value declines, so
M II is not worth what he loaned
no can demand more collateral
"a # YOU don't give it he can force
L IN dump the wheat on the low
.rtet Under the new plan the
m.rketing association will take it's
cheat receipts to the banks, borrow
-. amount of their loan value on
,,i,orm notes running for not less
,han six months, and pay you at once
no same amount of money you could
have borrowed from the bank. Then
rhan the wheat is finally sold, you
w;,, receive in addition the difference
hetween the loan value and the SELL
ing price of your wheat. Don't you
Gee how much better it is not to have
IN sign a demand or short time note
which, if called, will force you to sell
at whatever price you can get, no
d matter how low the market is? Then,
too by the use of collective credit,
YOU get lower rates of interest. Why,
saw in the paper that last year the
California Prune & Apricot Growers,
Inc. secured credit of $40, 900, 900
at Az per cent on it's warehouse re-
Il ceipts and acceptances. Wheat is
better security than prunes or april
cots would just like to tell Mr.
Smith that a bunch of California
fruit growers are not any smarter
than the wheat growers Of the In
land Empire. Now, what other kicks
have you heard?'
We'll, Tom Jenkins says that this
new system will kill off the Tri-
State Terminal company and he don t
4 like the idea of having an organiza-
& ton which has done so we'll crowded
out of business. He says a whole lot
& Of the Tri-State stockholders feel
Il Just as he does about it and don t
think the farmers ought to throw
down the men who have worked so
hard building up that company to
Z take up with the ideas of this strang-
er, Sapiro.'
NOW, Daddy, you know that sew
B eral of the directors and a great
many of the stockhold rs of the
lri-State have endorsed and are en-
lhusiastically in favor of this mar
L keting association. Just because a
lew OF the officials of the company
are opposed to anything, regardless
Oh It's merits, which they think may
nave a tendency to diminish their
PERSONAL prestige, or endanger their
leadership, does not prove anything
Out the narrowness of their vision.
Inc Irl-State has rendered a great
service. 1t has demonstrated that
4 ae farmers can manage a big bust
ness successfully. But now that a
Olsger and broader project has been
presented, it seems to me that the
if-otate members ought to take the
'eau IN pushing it. They have proved
'aeir ability and have won the conf
1snce OF the farmers, but their plan
vas not big enough to attain maxi
mum results. They surely ought not
:" let the smaller plan block the big
scr one, just because of their pride
~ and affection for the organization
'ney have developed
You sure are good talker,
laughter, and make things seem
mighty clear, but how about letting
O'nef fellows decide when to sell my
meat Abe Fellows, who farms the
W. Allen place, says that's the
sucker with him. He allows he can
"aiioW all the rest of the plan but
- won't let anybody but himself
etue when to let his grain 60"
What do you, or Abe Fellows, or
VI! other wheat grower know about