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dinary accumulation” when not only is there no accumulation, bnt there
£T the most “extraordinary” lack of accumulation—a crop 125 millions short, and the stored wheat so “perplexible” a problem that even the Secretary of the Chicago Board of Trade (Mr. Stone) does not pretend to know anything about it—and says so. The whole thing is in a nutshell—farmers let their business affairs be handled by a lot of jackanapes who know nothing about it except this: “Big stock, big crop, when we’re ‘short;’ small stock, small crop, when we’re ‘long.’ ” In other words, every farmer in the United States, Great Britain and the Isles of Montechristo, is a jumping jack to Croesus. When Croesus pulls the string his legs go up—when he lets go the farmer’s legs come down. Is it not about time that the farmer began to manage his own mar ket—with a “Seller Board?” A “Seller Board,” with merely an “option” on one-third the crop, and no ownership, could, in twenty-four hours, lift the wheat to $2 a bushel, and, putting their office in the centre of a ten mile swamp, have the entire Chicago Hell crawl on their abdomens, through the briars, to buy at that figure! The import of wheat into Great Britain will run now about 20 million quarters, or 160 million bushels. This is besides flour. Of this amount the United States must furnish the bulk—and the good wheat. The old fashioned lie about Liverpool, or England, setting the price oi our wheat is still being used, and millions of foolish people still believe it. The American crop this year, at 850,000,000, must furnish 125 mil lions to Great Britain, large exports to France, and therefore a greatly reduced consumption at home—for we used to get $ 1.25 a bushel here, with 20 millions lees population, and a hundred million larger crop! Here is a table which gives the comparative supplies of wheat to the British market: Week endg Oct. 1 Week before. Qrs. Qrs. Russian wheat 149,000 85 000 N. American wheat 1,308,000 1,210.000 S. American wheat 705,000 555.000 Indian wheat 200,000 205,000 Australian wheat 220,000 225,000 All other sorts of wheat 10,000 10,000 Of the North American, one million qrs. (8,000,000 bu.) were Califor nian. Where is New Zealand wheat in this table?—as a factor it does not exist. South America is the only real competitor, and its quality is in ferior. Even from the “Baltic”—which means, Russia, Germany, etc., comes the estimate of a shortage in the world’s supply, of 12 million quarters. At Baltic ports “hard Manitoba” wheat sold for 275. a quarter (“ex ship,” or en route), and as Calcutta sold for the same—a fearfully inferior grade—you may know what “mixing” does for you I You must always bear in mind—on English quotations, that on red wheats, American red winter, you are getting London quotations—Beer bohm frauds—and on Californian, hards, Duluths, etc., you are getting Liverpool. And you don’t get Liverpool in your daily reports—not Liv erpool figures. As a general thing, in price, India wheat compares with English wheat —cargo trade. But this applies to tip-top Calcutta grains. Australian grain compares with our mixed Duluth. In the midst of the vast jumble in market rates and grades, and the complete control of prices through the Chicago Board of Trade, it is time for the producer to begin to organize to defend his markets. Six years ago the editor of this journal then in Pope County, Minne sota, wrote a series of articles on a “Seller Board” to knock out the vast bear power of the Chicago Destroyer. Those articles received a great deal of attention. Up to that time very few people, except the operators on the Board, understood the terrific power there was in the possession of an option on ten million bushels of wheat, all “visible”—all in the warehouses or gran aries, ready for five days shipment. But if the possession of a ten mil lion control is a wonderful power, what would it be if a “Seller Board” had an option on a hundred millions! It is a truth, however much you may refuse to believe it, that the pos session of an option to sell a hundred million bushels of wheat at SI.OO a bushel would send wheat above that figure at every port and terminal station in the world—and it is the only thing that will. You may sing, and dance and pray l You may talk and preach all day. But you will never knock out that horrible phantasm of evil at Chicago until you get a “Seller Board.” Yon may give to ten men the power to sell one hundred millions of wheat at SI.OO a bushel and not a cent less. You may locate that Board in the vast western desert, fifty miles from water—and you may threaten ten thousand muskets to fire at any man who approaches—and you will Htill find the Chicago robber-gambler crawling up on the picket line at night to get that wheat at sl.lO per bushel within a few hours after they know what you have done 1 There is no help for it! It must be had. Ruin stares the thieves in the face. Why, they tear clothes in order to save a scalp of a cent a bushel. And what would be the cost? Why, possibly, to manage the whole business, the year around, run the offices, managers, agencies in every county of the west, publish daily reports, and secure thirty or forty tele grams a day, and send out 500, about 14th of one cent per bushel. Will the farmers ever organize? We said five years ago, when the proposition was almost a scare-crow to the sober-minded—that it* would come in ten years. We still believe that prophecy will be fulfilled. We be lieve that at least before 1900 comes around, less than seven years hence, the farmers will get level headed enough to run their own Board. It does not require a single farmer to part with a solitary bushel of wheat. It only requires that a large number put a proportion of their crop under a dollar contract—not to sell for less than a dollar—and the sale to be made by a board selected by a delegated convential organization, and under bonds. Transportation of Wheat. Price at farm station, averaged at a mid-west station 42 Freight to Chicago (or Duluth) 10# Elevator and localcharges at terminal 01# Freight Chicago-Duluth to Buffalo 02 Buffalo charges 01 Erie Canal to N. Y 03 N. Y. charges 01# Freights, N. Y. to Liverpool 03 Porterage, etc 02 Primage and Insurance 01 Total 67# Hard wheat (see Foreign Grain, “Duluth” grade) '.93 Reduced by “mixing”.... 04 .97 Profit on the Route 29# Coal . Notwithstanding the drop in the price of coal last month, it is now up as high or higher than ever. The Donnelly fraud, in which he was made head of a committee to flay the combine, and succeeded in going through a farce, and killing the possibility of a genuine movement, is all over, and the broad-faced fellow looks upon the joke in secret glee. Coal is today $8.50 a ton in St. Paul. ■ 1 There are about 18,000 acres of coal land on the Girard estate, divid ed into twelve collieries. Ot theses five axe leased to the Reading Com- Commercial, From Ist Pap. pany, five to the Lehigh YalleyCompany, and the remainder to the Penn sylvania railroad. The estate has been so well managed that where twen ty-five years ago $28,000 were received in royalties, now about $600,000 are received, showing under the present management an increase of over half a million dollars over those of twenty-five years ago. The following is quoted from the “Circular” issued to the members of the combine from the New York office: Free burning white ash coal (all companies), as per circular agreed upon July 1,1893-Broken, $3.90; egg, $4.15; stove, $4.60; chestnut, $4 60. The Lehigh & Wilkesbarre Coal Company quote f. o b. at Port John son, Honey Brook Liehigh-Broken, $4.00; egg, $4 30; stove, $4.60, and chestnut, $4.60. Plymouth Red Ash—Broken, $4.00; egtr, $4.25; stove $4.75; chestnut, $4.75. The best of these coals costs 92c. a ton at the mine. Business was of the ordinary character for a Saturday and being the tail end of the week there was hardly anything done beyond that which was partly under way on Friday. There were no new cotton trades con summated, and as for grain charters, they were entirely lost sight of from outward appearances, at least, while rates, owing to the strength derived from recent cotton fixtures and a continued good demand from that in terest, ruled firm. There were a few trades accomplished in petroleum at generally unsatisfactory figures, but, of course, the best at present ob tainable. Berth freights were dull, but unchanged. Bebth Engagements— Liverpool, grain, 2j£d; London, grain, 31(d- Glasgow, grain, 2d; Bristol, grain, Hull, grain, 4d; Antwerw, grain! 2J(d; cotton, 19-64 d. John Good, the great manufacturer, has brought out a new electric spinning machine, with 3,000 revolutions a minute. It will simplify the manufacture of twine. Did J. G. invent it—or did he give some poor fel low a hundred dollars, to reap two million himself? C. Patterson & Co., of London, have established a branch to handle twines and fibres in New York. The strength of New Zealand flax is now said to be double that of any other flax in the world. About 8,000,000 acres will be open to cultivation in the “Cherokee Strip,” and this encourages the binder twine manufactures. One hun dred and twenty-five thousand homesteads were taken. T. Albee Smith, of Baltimore, offers to put a new palm fibre on the market which will make excellent binding twine, for 2%c. per pound, by the ton. Yes, but that is all the raw material costs for much of the 9c. fiber, retail. The Cordage Trade Journal says: “That an extraordinary large SRE YOU Rooß I IN THE MIDST OF SPLENDID RESOURCES ARE CITIES AND PALACES BUILDED ON THE RUINS? Do You Know Why this Republic is a failure so Far as Uplifting Labor is Concerned? IRHLAJD THE USTHTW BOOK - “THE POWER BEHIND THE THRONE BY EVERETT W. FISH, M. D., TOGETHER WITH TECH] lITTERVIEW = DAN. VOORHEIS ON NEW YORK BANKS! WILL BE ISSUED IN A FEW DAYS. SDC. This work takes up one of the most important and mysterious elements of human government:—the secret control of the nations of the earth by the great house of Rothschilds, their means and sources of informa tion and power, and the far-reaching effects. It also touches upon the singular mysticism of He brew Caballism, and the untrodden avenue of seer knowledge. The plot is laid in and about the Stock Exchange of New York, and its characters embrace several of the greatest operators of modern times. Dr. Fish is peculiarly fitted to produce such a book. His classical work, in the field of Egyptology and Semi tic lore, and his experience on the Exchanges,.and as Commercial editor of metropolitan journals, has made HAVE YOUR ORDER IN EARLY THE MARKET. October 12,1893. Freights — Ocean. FROM POBT OF NEW YORK. Twine Market. I§theßation Poor! “THE FACTS in the CASE!” quantity of binder twine has been carried over, is accepted by all.” One manufacturer estimates it at 25,000 tons! The Boston News Bureau puts it at 40,000 tons 1 The fact is twines will be low next year— and precious few contracts will be made before February, though thev should be made at this time. 6 J There is nothing special to note in the way of business. The interest seems to be centered on the quantity carried over both bv manufacturers and dealers; until this matter is more definitely determined new business will probably be slight. Nominal quotations are as follows: White Sisal (500 feet to the pound) Standard (500 feet to the pound) .7 @ 71/ Standard mixed (525 to 550 feet to the pound) 7% @ 8 Manila (600 feet to the pound) 8 @ 8)i Pure Manila (650 feet to the pound) 8% @ 8^ Though there are three to four hundred failures each week in the com mercial world, the daily press has ceased to report them. Every one would think times were booming. But the facts will creep out at the cor ners occasionally. Who Lies? There is the most outrageous lying going on in the daily papers about the financial condition. Two different papers in the same section will give absolutely contrary reports. How long the American people will stand it to be thus abused depends on their ignorance. We take the following from the St. Paul Daily News report for Mon day, Oct. 23: STOCKS on wall street decline and rule dull and WEAK TIKOUSI NO MATERIAL CHANGE IN THE WHEAT FIGURES. “The stock market opened weak and prices declined X @1 per sent Sugar was pressed for sale, and touched 94tfc on Saturday. The in the other active stocks was less important.” Now let us turn over the pages of the Minneapolis Tribune, and read report for same day: 1 a *1 EW 0c j 23 iT l * waß llke what the street reminiscently al ludes to as the good old times,” on the stock exchange today The dealings were on a large scale, nearly everybody was on the bull side of the market and there was an all pervading air of buoyancv which ear ned everything before it.” J Now note what R. G. Dunn & Co’s Weekly Review of trade save is sued same day: J ’ “T he l? 8 * in commercial business is due to lack of consumption” Business is so slow that merchants are asking for new loans I” Go on with the dance. Draw the bow down fine, Grover. Lst the drv bones rattle and the old ribs shake. There’s room in perdition for your whole robber crew when the people get ready to take you by the nape of the neck and the geographical juxtaposition of the coattails I him familiar, in earlier life, with all the thrilling ele ments of his book. In order to acquaint the reader with the substan tial basis for the exciting scenes of the novel, he gives a preliminary 25 pp to “THE FACTS IN THE CASE.” This is an historical statement showing the reality of the conditions and the sequences—and is a strong presentation of the war now on between Money for Man and Money for the Banker. PRICE, POSTPAID, paper bound 50c. “ “ cloth bound SI.OO ADDRESS THE GREAT WEST. “WORLDS MARKET.