Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1920-05-01
INDIANAPOLIS
RANKS THIRD IN
GRAIN MARKETS
Rail Facilities Help Give City
Place Among Largest in
Country.
HIGHER PRICES PREVAIL

Excellent as is the slogan that In
dianaDoIfs is good town and Indiana
Is great state it scratches only the
surface both for city and state in many
lines Of business activities and pro-
ductive lines.
Because Of its multiplicity Of railroad
lines uneouaIed or even approached by
any other inland city in the United
states. and also because of the vast
agricultural territory tributary to it, In
dlanapolis has.
The biggest end best white corn
market in the country.
More traders on its cash grain ex-
change than any other American city
except New York. Chicago or Mime
apoIis.
4 better market for cash corn,
either white or yellow. which brings g
5 cents more busheI to its shipper
when sold in Indianapolis than when
sold at Chicago, with oats sold here
bringing about or cents more
a husheI for the shipper than when
sold in Chicago.
These facts, known only to compa-a-
lively few, were brought out in making
q comparison between the prices paid
for cash corn and oats here and At
Chicago.
The explanation for the higher price
received by the shipper by selling his
corn OF oats here instead Of at Chicago
is terseIy given by Edgar d. Anderson.
chairman of the call committee of the
INDIANAPOLIS Grain Exchange, as follows
SITUATION HERE
FAvORS SHIPPER.
sThe corn and oats that are bought in
Chicago must be delivered in that city
by the seller at his own expense.
"On the other hand. this grain is
bought here +. O. b. free on board at
point Of shipment.
in other words the shipper selling his
corn or oats at Chicago has to pay the
freight for delivery there. while il sold
here the Indianapolis buyer instead OF
the shipper pays that freight.
Roughly speaking. therefore, the ship
per saves the freight by selling here in
stead Of at Chicago, and it is fair
statement TO make that this saving nets
the shipper at least ) cents more for his
corn and or Q cents more for his oats
So well are these facts known TO the
most prominent in the game that II
is no unusual thing for Chicago or
Peoria to sell corn here.
That statement coupled with the rank
ing Of Indianapolis I'm the fourth place
among grain exchanges Of the country
brought inquiry as to the volume of
business done here and how it is han
dad.
TRADING PERMITS
RISE 900 PER CENT.
In response the astonishing revelation
was made that the value Of trading per
mits on the floor Of the Indianapolis
grain exchange has increased exactly 800
per cent in the last five years.
In 1915. when floor trading was re-
sumed after a period of abandonment
totaling about twenty-five years, these
permits were ohtainabIe for $3.50.
Today these same permits are bid for
at 50. 500-and are In big demand al that.
with quite u number waiting TO grab
the first one on sale.
Moreover, the exchange has outgrown
the room that IL uses on the seventh
floor Of the Board Of Trade building,
tables designed for one being crowded
with four the result being that plans
for the best way To obtain more space
are being earnestly discussed
The local Board Of Trade has airport
mately SOD resident members and az
least fifty Of these. or 10 per cent, are
active grain dealers.
As TO the manner in which the bust
ness IS handled. Mr.. Anderson said;
"One day last winter we received 319
cars Of corn. not our record receipts but
sufficiently large TO make some Of US
wonder what we were going to do
with it.
As a matter of fact, when we got
through, everything had gone so
smoothly and expeditlOusly that none OF
US had had time 10 give further thought
to the unusual volume"
RATE ADJUSTMENT
CLOSES EXCHANGE.
Floor trading was suspended by mem
hers OF the exchange Immediately after
passage OF the Interstate commerce law
on account Of the resultant adjustment
Of roll rates. which put this city at a
great disadvantage, and the pernlcious
reign for years of the Relating system
for favored shippers. coupled with the
policy OF the railroads toward cOncen-
tratfng tonnage at the chief centers. such
as Chicago.
Indianapolis suffered. it was then
thought because OF its loss OF many
railroad terminals. but this has proved
81 blessing in disguise, resulting IN the
increased number of roads now Operat-
ing 90 and through the city from all
points 70 the compass.
During the absence Of floor trading for
a quarter Of 6 century, business was done
from office to Office, with samples Of
grain on the tables OF each trader. and
meanwhile the Board Of Trade. by patient
and persistent efforts. succeeded finally In
obtaining equalization of rail rates
making such improved arrangements for
loading and handling that floor trading
was resumed In the first year Of the war
LAKE COMPETITION
Is REMOVED.
One great disadvantage Of the city in
years past was competition Of lake
,reights during the seasons OF naviga-