Free trader-journal and Ottawa fair dealer. (Ottawa, Ill.) 1920-1927, 1921-10-01

the methods used by the scalpers and
the dealings in futures.
Inadequate transportation was
given by him as the biggest factor
for throwing the market out of gear
At the close of the talk by Mr.
Gates, X. J. Mansfield, secretary OF the
National Grain Dealers Association,
was introduced to the audience Mr..
Mansfield, it was stated, in the aD,
sence of a speaker of the United
States Grain Growers Inc, ASS H.,
would explain the contract the organi-
zation members must sign, as he
saw it.
He unrolled document, typewrit-
ten, which was approximately forty
feet in length and explained that that
was the contract farmers were asked
to sign when they are asked to JOIN
the organization. The document he
had, he explained, contained the by
laws of the organization, but those by
laws, he declared became a part OF
the contract, upon advice he had re-
ceived from several attorneys. He
stated that it took one hour and TWEEN
ty minutes for a man to read the con
tract without stopping to consider the
questions brought up by the contract
He stated that the contract as 1t
existed bound the grower to sell al.
his grain to the local elevator man
until June 80, 1927, but could be ter
minated by the elevator man. He
said that no provision is made for
the cost of the grover handling the
grain, nor for the local elevator man
handling the grain.
The contract, he stated, provided
for three methods Of disposing OF
grain: First, by the direct method
second, by the consignment method
and, third, by the pool, local, joint or
partial.
If the grain is loaded and shipped
by the grower, he stated, the seal is
shipped on the car and the grain be-
comes the property of the United
States Grain Growers Association,
Inc, until it is disposed of and the
money paid the producer.
In the pool he stated, the pool Is
formed and the grain is controlled
Wy three men who are selected to
head it. The owner, he stated, had
nothing to say of the time the pool
receive for it. He claimed that the
members of the pool would do nothing
more nor less than speculate on the
grain, and that If they held out for
too high prices and the consumer was
forced to pay, he would go to the law
makers and have the prices of grain
regulated.
You can't secure for your grain
any more than your grain will bring
on an open competitive market. Cor
ners are impossible
He went on to tell that the con
tract provided for the local elevator
fixed rate.
He stated that the United States
Grain Growers, Inc, were to deduct
overhead expenses of handling the
grain, and that no fixed rate was con-
tanned in the contract. The contract
provided that should be overhead
charges be excessive at the end of
the year the extra money should either
be returned or the Grain Growers
Inc. could re-invest it and grant Ger.
tificate of stock to the producer.
He explained that the Grain Grow
ers, Inc, was organized under a Della
ware charter as non-profit organi-
cation; that the Farmers Finance
company, corporation within a cor.
poration, was formed under this. This
company, he stated, contained twenty
one shares of common stock and 1907
100000 shares of preferred stock that
had no voting power. This company.
he said, was to handle the money for
the Grain Growers, Inc, and that this
company was to handle all the
finances of the United States Grain
Growers, Inc.
He read letter from a Minnesota