The daily star-mirror. (Moscow, Idaho) 1911-1939, 1921-08-18
BANKERS Of LATAH COUNTY ARE
ADVISED ON WAREHOUSE LAW

The bankers of Latah county and
Moscow received the following from
the state department of agriculture,
Thursday:
'fIn view of the fact that Idaho has
a wheat crop estimated at 26 million
bushels the question of holding grain
in store is of the greatest import
ance to the business interest of this
state. 1t is generally conceded that
wheat will go higher and the i'm
portance of the state receiving the
maximum price for its crop is ap-
parent.
Section 2031, Idaho Compiled Stat
utes, reads as follows: The business
of marketing farm products in this
state is hereby declared to be affec-
ted with a public interest and to be
subject to regulation and control by
the state
Section 1919 defines the Bonded
Warehouse law as follows: The
term public warehouse as used in
this chapter shall be deemed to mean
every building, structure, or other
protected enclosure in which any ag-
ricultural produce is received for
storage or transfer for compensa-
ton; such warehouses are hereby de-
Following the provisions of the law
above cited, bonded warehouses are
authorized to receive grain in stor-
age and issue therefor a negotiable
receipt which affords the producer
the very best of security, fully pro-
tected by bond and insurance poll
cies, for negotiating temporary loans
and availing himself of the privilege
of holding his grain if he so desires.
The law is so arranged that it is
practically impossible for anyone to
sustain loss by virtue of these ne
gotiable receipts, and it affords the
warehouSeman a reasonable compen-
sation for the use of his warehouse
and likewise an opportunity to buy
the wheat when it is offered for sale
Warehouses are not required to
give over all their space to storage
but that portion of it in keeping with
their usual storage business, reserv-
ing in most cases one-half of their
capacity for handling cash business.
The practice of forcing the farmer to
sell direct from the machine should
be discouraged, it would seem, for
the reason that he is entitled to the
full benefit of rising market and
if he is deprived of this, in a large
percentage of cases the profits natu-
rally rising therefrom accrue to out
side interests instead of to the busi-
ness interest of Idaho
Bonding warehouses under the
state law is a very simple and mex
pensive process and it has a tend
ency to stimulate production, the
most important feature in the future
building of our commercial prosper
ty. When warehouses are filled, as
hey doubtless will be, arrangements
can be made to move this storage
wheat to terminal elevators and until
he same is sold the farmers. under
he provisions of the warehouse law
are accorded a legal certificate of
storage which in itself is of the very
lighest collateral value.
This department has no power to
orce dealers to avail themselves of
he warehouse act except where stor-
lge charges are made, in which case
are subject to heavy
penalties Neither is this department
advising farmers to store their grain,
lor to sell it. but it is, as required
~ law. making public condition Of
vital Importance to both the pro-
1ucer and the business interest OF
he state.