The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1922-06-13
PLANS OF U. s. GRAIN
GROWERS ARE AIRED
BY CHICAGO WRITER
BY WILLIAM r. sANeoRN

BY WILLIAM r. SANBORN
Frank Ridgway, writing in the Chi
cago Tribune of June 13. lets in a lit
tie daylight on the plans of the United
States Grain Growers, INC, in their
preparation to market grain. II seems
that James K Mason, the present
vice-president and treasurer, has re-
turned TO Chicago from Washington,
wher he and ex-Treasurer Eckhardt,
of Illinois, had been summoned to ap-
pear before a subcommittee of the
senate agricultural committee, with
books and records, to show receipts,
expenditures, etc, in connection with
grain grower affairs.
While in Washington Mr.. Mason in
formed the investigating committee
of the senate that an ex-board of trade
operator, Burton F. Hales, of Chicago.
had said he would be willing to ad-
vance a million dollars toward promot-
ing the sales department of the Grain
Growers. This information was given
to the press, and appeared in The Pal
ladium on Monday evening The rest
of the story follows as written by Mr..
Ridgway:
Rdgeway on Grain Growers
Another stone in the farmers road
to cooperative marketing was turned
over yesterday when Burton F. Hales,
Chicago capitalist, admitted that he
was the man who had said he would
! back the sales agency of the U. S.
| Grain Growers, Inc, the farmer owned
grain marketing company. He said he
/ was the Chicago millionaire" referred
!! to in Washington by James K Mason,
/ who testified before a committee of
I, T~st
/ grain growers new marketing com
! pany had found man who had pledg-
| ed to furnish 81 900. 900 10 aid farmers
/ in marketing their grain"
Board Seat Sought
| AT the cooperative grain organiza-
| tons offices late yesterday afternoon
! c. H. Gustafson, president, said that,
| while no contract had been signed be-
/ tween Mr.. Hales and the u s. Grain
! Growers, Inc, the capitalist had prom
ised to furnish $4,000 of the $1,000
i 600 as soon as the money was needed
/ to start operating the cooperative ma
CLINE. Negotiations are under way
and the contract soon will be signed,
he said. To clarity some Of the re-
ports that Mr.. Hales was a member of
j the Chicago Board of Trade the coop
! erat1ve grain president said that he
had not been a board of trade operator
for many years, and that when Mr.
Hales was on the board of trade here
he was barley and malt man.
I'VE do not need this $50 900 to mar
ket grain" Mr. Gustafson said but
to meet membership requirements on
the board of trade We have other
{ arrangements under way for financing
the grain in transit Everything indi-
Gates that he will be able to handle
! grain on the Chicago market by
July J."
Boards Hostility Overcome
: Application for membership of the
Board of Trade has not vet been
made, according to Mr. Gustafson
He added that where the Board OF
! Trade was unfriendly few months
, ago it now is friendly and sees that
! its members could afford TO cooper
, ate with the U. S. Grain Growers. Inc.
Mr. Hales was not certain what
would be the outcome of his offer to
aid the farmers cooperative organ
ization. 1 think it is just a business
investment so far as l am concerned.
, for | have never taken part in the Co
: operative marketing, he said when
asked specifically whether he decided
7 cause he believed in cooperative mar
! keting. 1t is understood that his
! nephew, 6. w Hales. first became in
; terested in making this loan and was
instrumental in his uncle giving a
promise to aid the cooperative term
inal sales agency.
When the press report came from
Washington Saturday connecting the
capitalist with the Board of Trade,
farm leaders in Chicago became skep-
teal, fearing that the man who of
? fered to loan the money was not IN
> sympathy with cooperative marketing
: of farm products Mr.. Hales' state
:. ment yesterday concerning his atti-
: tude toward cooperative marketing
did not relieve the situation any, they
say.
/ Not Posted on Plan
"'Of course, said Mr. Hales, I own
; some small farms and raise thorough
bred cattle as hobby, and I'm some
> what of farmer in that way myself
+ couldn't express approval or disap-
: proval of cooperative marketing. be-
cause I've never looked into it thor
! oughly'
"Mr. Hales, known in the financial
district as a fighter. is active in his
60th year. He formerly represented
! the P. D. Armour grain concern on
the Board of Trade. His firm today
] owns several elevators"
The Womens club of Des Moines
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