The Nonpartisan Leader Newspaper, January 4, 1917, Page 12

Coats, Scarfs and Muffs F U of the Highest Quality at Lowest Prices CLOAKS, SUITS AND DRESSES The garments that have style, fit and quality. JOSEPH & HOENCK % Brospway | I'ARGO, N. D. é Mail Orders Solicited FURS REPAIRED, RELINED AND REMODELED. J. R. Kirk Commission Co. Inc. SOUTH ST. PAUL, MINN. BALES AGENCY AND AUTHORIZED REPRESENTATIVE OF THE American Society of Equity ’ CONSIGN YOUR LIVE STOCK TO US AND GET A SQUARB DEAL ANOTHER ASSOCIATION SEES BENEFIT IN SHIPPING LXVE STOCK TO THEIR OWN SELLING AGE] CM ing, N. D., Feb. 8 1018 .éz] Kirk Commission Co., So. St. Paul, Minn. T | entlemen: ’\ Drafts received for car of hogs shipped you .Jan. 21st. through Dunn County Raquity Shipping Association. All members that had hogs in the shipment are awfully well pieased with the gouod ret and the way vou have handled the . ~Will have several more ——-cars to start tmm Dunn Center next week. With such good returns as you secured us, will mean more cooperation among the farmers at this end. g ’ Yours for more cooperative business, A.J.BRETZLAFF, Shipping Manager. Te th PIONEER BUILDING el EOUITABLE AUDIT CO., Inc.’ss PAUL, -MINN. tt & Farmers Elevator Companies’ Home of Auditing and D Systems for Accountmg Write for References. tr ol of _FARGO COLLEGE b | CONSERVATORY OF MUSIC “ The Standard Musical Institution of the Northwest. All branches of a h: Musical Education Taught by Faculty of Artist Teachers. For catalog and Information Address Stone Building. ALBERT J. STEPHENS, Director. FARGO, N. D. M le| » A A. J. O'SHEA fll ARCHITECT AND ENGINEER et FARGO., NORTH DAKOTA 1 | “The Plow-Boy 10-20 , B all standard tractor is the only light i farm tractor that gives entire satis- | faction in all kind of farm work. t‘ This is due to the manner in which t it is desxg’ned, constructed, ete., which ] our completé new illustrated catalog t€1ls you about. Write for it today. Price $775.00 f. o. b. Waterloo, Iowa. PALDA-MORSE MOTORS, Inc. Distributors NORTH DAKOTA ~MINOT = bl 4 S League Organizers Wanted ~ It you want to work for the League and can furnish a team and covired rig here is your chance. You can earn a good winter salary hehging build this great farmers’ organization. If you develop into a good organizer and want steady employment the League will fur- nish a car and you can continue through the summer. This oppor- tunity is open to League members in Minnesota, South Dakota, Montana and North Dakota. Write at once for partlculars vae address, section, township and range, and five references. Address, Farmers’ Nonpartisan League, Fargo, N. D. e ~Th e DO WA A It Gives Your Engine “Pep”’ We have installed a special machme that rebores cyhnders, only, and we fit them with larger pistons and rmgs, which mcreases the power of your engine. \ e L e ———— Automobiles re-designed, repaired and overhauled. If there is anything wrong with your machine we can make it right. We weld all metals and make and machine anything. When you write us please mention the Leader. - i | Dakota Welding & Mis. Co. || el 926 203 Fifth St. N FARGO, N. D. Leader Classified Ads Pay Advertising rates on application. in order to insure insertion in current issue. The Nonpartisan Leader PUBLISHED WEEKLY—EVERY THURSDAY 4 . Natfonal Paper of the Farmers’ Nonpartisan Political League. Entered as second-class matter Septemker 3, Fargo, North Dakota, under the Act of March 8, 1! OLIVER S. MORRIS, Editor Subseription, one year, in advance, $2.50 ; six months, $1.! Communications intended for the paper should be nddressed to the Nonpartisan Lesder, Box 941, Fargo, North Dakota, and not to any individual. The Leader is the supreme advertising medium through which to reach the rural population of North Dakota, as it goes into practically every farm home in the state. The Leader solicits adverticements of -meritorious articles needed by Farmers. Quack. fraudulent and irresponsible firms are not knowingly advertised, and we will take it as a favor if any readers will advise us promptly should they have uccasion to doubt c:- question the relia- bility of nny firm which patronizes our advertising colum: py for ‘advertisements must reach the Leader oflicc by Saturday previous to publication Guaranteed Weekly Circulation in excess of 55,000 Copies - 1915. at the postoffice at Shows Up the Wheat Traders Evils of Chamber of Commerce Exposed by V. E. Butler, of Whom the Grain Combine Approves NCE IN a while_ careful folks spill the beans. and the people at large had no other chances to learn the “true inwardness” of things than just by picking up the crumbs of information that drop from the table of “Big Biz” they would be a lot wiser. If a Nonpar- tisan League speaker or the Nonpartisan Leader had said: “Theoretically we have the market - based upon a supply and demand, but in actual practice the market is based on speculative sentiment as expressed by the volume of speculative business in future trades,” he would be called an “agitator,” a ‘“demagogue,” and would be accused of bald misstatement. But when V. E. Butler of Minneapolis told the Farmers Grain Dealers association in annual meeting at Decatur, Ill., this fall that this was true, no one called him names, not even the Co-operative Man- ager and Farpger, which printed his address, nor the Minneapolis Miller. = Mr. Butler was discussing (for the benefit of dealers) the question of futures, and here are some other interesting things he said, for saying which the farmers of the northwest have been roundly abused by the grain comhbine: . A “The trend of the cash market follows the trend of the option market, therefore the price of cash grain is influenced very largely by the rise and fall of the price of futures.” . “If the majority of traders are buying we have an advancing market, and a declining market if they are sellers.” “It will be seen that the dealing in contracts creates the market price for the cash grain and it will also be seen that dealing in contracts is speculation without property ownership.” “And every such -trade influences the price of farm products and the price of grain and grain products to more than a hundred million people. This being true, then it becomes a question of morals and economies as to whether it should be allowed.” This is getting almost to the point of rebellion, but the grain dealers liked it because it was prefaced with this statement: “This discussion is not offered in the form of criticism of present methods of handling cash grain, ‘but rather in the hope that from the consideration of these questions by the shippers of the country, the grain business may attain a still higher place in the minds of men.” That was a perfectly laudable purpose in the view of the grain dealers—to raise their business in the minds of men. But if someone takes these same facts and uses the same words for the benefit of the hundred million people referred to by Mr. Butler, then the people who quote Mr. Butler with approval rise in righteous wrath and rave. " CHAMBER OF COMMERCE CORROBORATES LEADER But he said more: “Some (exchanges) maintain a future market, others do not, but they all permit trading in cash grain, AND THE CASH GRAIN PRICES IN ALL MARKETS ARE BASED UPON THE PRICE OF SOME FUTURE IN SOME MARKET WHERE FUTURES ARE QUOTED AND TRADED IN, under rules estab- lished by the membershlp % There it .is again. Every time he opened his mouth he said something. He said it so many ways and in so many different places in his address that the TWELVE . ; 2 ; If the farmers only rebuttal the grain combine - comla ‘make effective, would have been to gather and burn at once all shorthand notes of that demagogic, agitating, revolutionary speech. But they didn’t -——someone “spilled the beans,” and it got into print, fell into the hands of the Nonpartisan Leader, and for the first time something the Leader has said is corroborated by the high authority of the Chamber of Commerce. That point of “rules established by the membership” shows how the hundred million are subjected to the whim of the gamblers for their staple food products. It goes hand in hand with what Mr. Butler said about futures and not supp]y or demand establishing the price of commodities. Mr. Butler made a pretty good League speech—if some of it were omitted. He scored the gamblers for the stipulation in their contracts which states that “all trades are made with the distinct understanding' that actual delivery is contemplated.” "THEY “CONTEMPLATE” BUT NOT “CONSUMMATE” This is to evade the law which would prevent their future dealing if they did not say they “contemplated actual dehvery.” They do “contemplate®-it-but that is all, they do not “consummate” it. Quotmg Mr. Butler again, and every quotation is a stab: “Thousands of these contracts are traded in every year, and while it is true every outstanding contract at maturity can and does represent the actual com- modity called for, the percentage that mature is almost nothing compared to THOSE SETTLED BEFORE MATUR- ITY BY THE PROCESS OF ELIMIN- ATION—one contract with another and only those who want the commodities traded in ever accept delivery.” “I want you to remember that thess contracts have no real value except the difference in price paid for them and the price for which they are sold and that difference represents the profit or loss in the transaction.” “They accept these trades knowing that it is not the intent that ‘actal deliv- ery is contemplated.’” “If trades were only permitted between those having a property interest therein, then such.indorsement would have a real bearing upon the trade, but as now plactlced such indorsement is close to perjury.” Tut! tut! isn’t Mr. Butler becoming almost “Leagueish”? Isn’t this the language of a “demagogue"" Oh; no, He was speakmg for the grain gamblers, trying to give them a few little tips to change " things themselves before the people “do it for them, He told how “rumors” are manipulated, the secret pulls by which widely separated exchanges work simultaneous depression or inflation of prices, in. this one down- right paragraph: “It is claimed by some that we must have speculative ownership of crop sur- plus. To this statement no fault can be found, BUT WITH THE MANNER IN WHICH THIS SPECULATIVE OWNER- SHIP IS OBTAINED UNDER EXIST- ING PRACTICES MUCH FAULT CAN BE FOUND, FOR THE REASON THAT SUCH OWNERSHIP IS OBTAINED:-: MONTHS BEFORE CROPS ARE PRO- DUCED AND THROUGH SOURCES IN NO WAY CONNECTED WITH PRODUCTION.” Use Leader Classified Ads