THE MONTHLY BULLETIN. 169 



fruit and he did uo1 hold us responsible for results, and for those 

 reasons the fifteen ears were sold in New York on that date. We did 

 l|( ,i sell heavj for the balance of the week because the offering of the 



California Fruit Distributors was unusually heavy; we knew it, and 

 as they sold in advance of us. our position was nol a favorable one. 

 We are in touch with the California Fruit Distributors daily regarding 

 the offerings for the different markets and compare information thai 

 is of mutual advantage. We bad just as many ears rolling and could 

 have sold just as mam in New York oil Tuesday, Wednesday, Thursday, 

 and Friday as did the Stewart Fruit Company, but when we were 

 advised by our New York office that the offerings of competitors would 

 be heavy for the balance of the week, we diverted our ears to outside 

 markets' thai were located in a zone regulated by the New York auction, 

 and these ears instead of being sold in New York, were sold at private 

 sale on the same basis as the New York market and without our having 

 to pay an auction brokerage. The result was that we secured the same 

 price as the New York average and by our withdrawing from New York. 

 benefited the market to thai extent, and for our marketing in this man- 

 ner are we to be criticised.' We bave been in business sixteen years. 

 and surely we could not bave done much "blind shipping" and been 

 aide to declare a dividend every year. 



1 believe Colonel Weinstock to be honest, but 1 do not believe that he 

 knows anything about the present system of handling interstate ship- 

 ments of 'fruit, but he wants to barn and be says ho can not go ahead 

 with his plan unless the Exchange comes in. 1 appreciate the compli- 

 ment and thank him for it. but if the success of the State Market 

 Bureau depends upon the information it must receive from the Cali- 

 fornia Fruit Exchange, then why doesn't Mr. Weinstock adopt the 

 by-laws and constitution of the Exchange and let the others follow? 

 ' I stand here and invite every fruit growers association in the state of 



California to I >me a member of the Exchange. Why should our 



growers, after spending sixteen years of bard labor and thousands of 

 dollars a year in accumulating the intelligent information regarding 

 marketing that is available through our channels, turn this information 

 over to tli.' state, win re it may be hung upon a public file and thereby 

 invite and create Eastern competition, a competition that has spelled 

 disaster to the industry and has proven itself to be a parasite? When 

 the season looks propitious ami conditions are favorable, the demand 

 eding the supply, the crops iii tin' Fast light and the crops in the 

 West fairly heavy, what happens? Out from the Fast on the fastest 

 trains come a lot of speculators with gold in their pockets, and these 

 men know as well as T do that when they go to the fruit grower with a 

 proposition of mild in one band ami a guarantee in the other, be is prone 

 to listen 1,1 it ; but when there is a big crop in the Fast and conditions 

 I'm- a favorable season none too satisfactory, what happens? These 

 same speculators remain at home and the burden of financing the indus- 

 try rests upon tin' California operators, and it is up to us to work our 

 full wits to handle the crop in a manner that will bring it out on the 

 right side of the ledger at the end of the season. 



Do you think- it right for Colonel Weinstock to go out and criticise 

 us. and encourage competition to criticise us? If 1 did not havi 

 respect for some of my competitors, 1 would make known here today 



