The Nonpartisan Leader Newspaper, August 24, 1916, Page 21

e grain combme at aneapgl.\sr according.. .to--a-redent report of- the' niversity .. of Minnesota agncultural expenment station,; is exertmg a great influence over country elevators in angsota owned by farm- ers’ companies _ or,:cooperatively owned by farmers. 2% . A report on the 300 or so elevators in Minnesota in which farmers own 50 per cent or more ‘of the stock shows that b1 per cent are financed in whole or in * part by Chamber of Commerce commis- .vF K arll X "‘T"‘" Famers’ Elevators in Minnesota, January 1, ‘Money Loaned For five, ten or twenty years. We loan money for twenty years on the Amortized Plan, same as proposed plan of the U. S. Government, and at same rate of interest. Loan in north half of North Dakota. “Write for information. - - X M. F. Murphy 6- Son i Financial Correspondents ' Union Central Life Ins. Co. | Grand Forks North Dakota /l "‘\ > The Eclipse > Metallic Grain Bin| THE ONLY - GRAIN DRYING BIN Get dry grain prices. Don’t speil grain. Don’t feed rats and mice. Save msurance. “y h }our co-operative selling system, THE EQUITY MANUFACTURING " AND.SUPPLY COMPANY Fargg N. D .Jh[.un-— * commission men. n this ‘way ' can not -take advantage of ' Moothead, Minn, § - Commlssmnfl Flrms ‘Control ‘Elevators and Get it Back in Profits on Grain sion houses, wluch in exchange :for money loaned at lower rates than local banks -can loan . it, exact.-agreements from the farmers’ elevators to ship all their grain to the Chamber firm makmg the loan. This practice, resulting in control by ° _l l%,M 2 1914 the Chamber of Commierce over half the farmers’ elevators in Minnesota, is even more widespread in North and South Dakota, according to the report referred to. The report is written by L. D. H. Weld, chief of division of research in' agricultural economics. Dr. Weld found that farmers’ elevators have three sources from which they may borrow money, the grain commission men- at the terminal market, the local bankers and from individual farmers. He found about ‘one-quarter of the ele- vators _were financed exclusively by aneapohs commission _men, while 51 per cent were financed in whole or in part by the commissions firms. In this . way the commission houses control the grain just the same ‘as if the country . elevator was owned outnght by a.com= mission house or was an old line elevator, - £ All or a certain percentage of the- grain of such farmers’ elevators must . .be shipped to the Chamber ‘of Commerce where it is subject to the Chamber’s rules and price mampu]atmg and to the brokerage commlssmns enforced by the " Elevators financed in farmers’ agencies. "’ The report glves the average mtetest MAGNETOS_ ALL MAKES REPAIRED - AND OVERHAULED Howard B. Tilden| Magneto and Battery Expert cooperatwe term.mal selhng rate charged hy commission "’ houses for financing country elevators ‘as 6.7 per cent, wlnle the average rate country banks charge for the same service is . 7.4 per cent.” The average rate charged by ‘individual farmers who_have, loaned : nioney to’ farmers’ élevators 1s 63 per cen . The report says: 3 “Although farmers charge-the lowest rates, the commission firms “charge much lower rates than the local banks. uLocal banks are often unable to extend sufficient credit both because of lack of funds ‘and because "of the law-limiting . the proporhon ‘of capital a.nd surplus that " may be loaned ‘to one person’ or compa.ny.- = " “The commxssxon houses ‘are of course . glad to lend money in order to get the élevators’ consxgnments, a.nd a wntben agreement is required shpulahng that the elevator company ship ‘all or a certain proportion of its grain to the commission house that makes.the loan. - The com- mission firms in turn borrow from Min- neapolis and Duluth banks and do not aim to make transaction. “Although there is some dxsadvantage Jdn an elevator’s tying itself up with a single commission firm, it -must be sets a new like its price. Stand air of snap and distinction. SPECIFJCA ONB' buo. P, Batavia non»skld tires cantilever -réar sp: start! €0 tor, floating rear axle. western Wlsconsm. newly-settled communities.: l : $ this ° fall? any profit on the Thedzemdmmylumofthe?unmn ; for cars at anything- ‘the Pullm curb beside any car and it retains its own It is heavy enough to hald the road at any speed—light enongh to save tires und gas. Two, Three and Five Passenger Models 114-inch wheel our~cfllnder motor, one-! mn Armnge a Demonstration Now, Pmmpt De.wcr:ea ; Dak‘ota, anesota, Moutano; north » remembered that in the past ‘there has been. ptact;t:auy no other. aourc& from which' the elevators ‘could borrow money, and that the commission men have per= formed a valuable service, especially. in :Reliance on local ' sources is mcreasmg “rapidly .in Minnesota,’ while in ‘North and South Dakota the - elevators are still mainly " dependent on commlssmn firms.” = ] $$$$$$$$$$$$$$$$g* s FarmLoans $ eed a. loan on your tnrm + We always. have ‘money- to oan on_long. term puy.ments lt 3 lnterest Tates, - Th!rty ,four years of eontlnuolu hnd. < $ ness’ in tha sdme omee g Wfl ). Office 618 Front Street FARGO, .9 Opposite N. ‘P.’Station * N¢'D. 4 §$$$$$$$$$$$$$$$$ SHIP US - Your next can of cream—sweet or sour. A square .deal gnaranteed. Daily remittances. Fargo Ice Cream & Dairy Co. (Creamery. Department.) an: at’ the