FIFTH ANNUAL YEAR BOOK — PART I. 41 



points. Now, that rate is either remunerative or it is not. If I 

 want to start out on Monday or Wednesday, the man who starts 

 out on Tuesday pays a lower rate or 1 pay too much. These 

 things pubhshed in the papers over the signature of the agent 

 must be true. These things are remunerative or are not re- 

 munerative. 



A Member: I appreciate what Mr. Delano says about the 

 criticism that comes from that. I would like to relate an experi- 

 ence that seemed quite ridiculous to me. I recently moved to 

 Minnesota, and assumed with the newspaper I am working with 

 a sort of a position similar to this Industrial Agent. I am aware 

 that the conditions of live stock are very much better in Iowa 

 and Nebraska than in Minnesota and Wisconsin. I was endeav- 

 oring to bring an excursion party to visit certain farms in Iowa 

 and Nebraska; also a beet sugar factory at Norfolk. I thought 

 I would be able to get up an excursion party. I went to one of 

 the railroad managers and asked him what he could do for us. 

 He says, how many will there be in your party. I said I thought 

 I would be able to get about twenty -five — had several letters from 

 parties stating they would go providing the expenses would not 

 exceed $20. I said to the general manager, I think you can afford 

 this, because our party will certainly buy some cattle. Well, he 

 says, we can not do it. We can not give you anything more than a 

 local rate from point to point. He says, if you were a Sunday 

 school party, or a picnic party, or football squad we could give 

 you excursion rates, but cattlemen, we can not do it. We went 

 to another road and we got a fare and a third, but they said it 

 was purely arbitrary. This seemed quite strange to me; I was 

 quite in the dark ; it wasn't any comparison with a powerful 

 trust, but rather in competition with Sunday school parties. 



Mr. Ames: I do not want to occupy too much time, at the 

 same time I want to bring out as many points as possible. The 

 question of percents has been touched upon in the paying of 

 dividends. I want to make a statement; does anyone know 

 what amount per cent the average Iowa farm is paying on the 

 investment? What do you suppose farming is paying, less 

 operating expenses, the net profits? Do you suppose they pay 

 eight per cent? Do you suppose they pay seven, six, five or 

 three per cent? The majority of them stop between three and 

 five. Many of them are paying more, but they are equipped by 

 large combinations and handled under the head of sy.:dicate 

 affairs. 



