THE I. A. A. RECORD 



Page Thirteen 



V/e've Had a Lot of 



Class Legislation — Lcgge 



4 





Tells Boston Business Men to Help, 

 Not Complain 



\i<-\. 



(C^ I * HE Board is prepared to assist 

 J- farmers in organizing along sound 

 lines the co-operative associations nec- 

 essary to secure for them the best re- 

 sults that market conditions will justi- 

 fy," Alexander Leggc, chairman of the 

 Federal Farm Board, told members of 

 the Boston Chamber of Commerce at 

 a luncheon on October 30. 



"In collaboration with the Depart- 

 ment of Agriculture," continued Mr. 

 Legge, "we can sup- 

 ply the best infor- 

 mation available as 

 to market outlook 

 and prospects, and 

 assist co-operatives 

 in providing proper 

 facilities for the 

 warehousing and 

 handling of any ag- 

 ricultural commudi- 

 tv. You will notice 

 I say we can assist. 

 The start must be made by the farmers 

 themselves. We haven't any power to 

 compel them to do anything. We don't 

 want any such authority and we 

 wouldn't use it if we had it. 



"Certainly there cannot be anv logi- 

 cal reason why tlie farmer should not 

 be encouraged and helped to engage in 

 merchandising his own product, but 

 some of you say this is using taxpayers' 

 monev in competition with private cap- 

 iral which has heretofore been engaged 

 in the business — class legislation. Well, 

 what about it? 



Lots of Class Legislation 



"We have had a lot of this class legis- 

 lation, even since the time back in IS 15 

 when the manufacturers cf New Eng- 

 land secured the first protective duty 

 of 20 per cent to aid the infant indus- 

 tries which, according to the discus- 

 sion at the time the protection was 

 granted, would in time develop to a 

 point where they would not need it. 

 Whether or not that has been the his- 

 tory, every farmer in purchasing his 

 manufactured products has contributed 

 all these years to this group in higher 

 prices that he paid for manufactured 

 products than would have been paid on 

 a free trade ba'"is. The milk used to 

 feed thos: infants at thu tim: has sin.e 

 Been fed generally in increasing quanti- 

 ties. In the language of th.' cattlemen, 

 a long time has elapsed v.'ithcut any of 

 the calves having been wcanjd. 



"Why should you deny to the under 



dog, who for over a century has been 

 contributing to the welfare of manu- 

 facturers, some measure of aid in im- 

 proving his unhappy position? 



Why All the Fuss? 



"Nor has this aid been limited to 

 manufacturing industries — rail and wa- 

 ter transportation have benefited 

 through various laws, banking and 

 finance by the Federal Reserve System, 

 labor through protective measures in- 

 cluding restricted immigration. In the 

 past, aid has been extended to many 

 groups and we haven't heard any howl 

 about class legislation; therefore, why 

 all this fuss because the government is 

 now trying to do something for the 

 agricultural group? 



"Instead of complaining, get busy 

 and help us make the Agricultural Mar- 

 keting Act a success, and each and 

 cverv one of you will benefit by an im- 

 provement in the financial position of 

 this large group who then will be better 

 customers for the things you make." 



Mid- West Grain Corp. 



Board of Trade Member 



WORD was received on Nov. S 

 that Chas. P. Cummings, vice- 

 president and general man.iger of the 

 Mid-VJ'est Grain Corporation was 

 elected to membership on the Chicago 

 Board of Trade. The corporation, a 

 sales agency for Illinois grain producers, 

 was registered and admitted to do busi- 

 ness. 



This action completes arrangements 

 by the Mid-West Grain Corp. for han- 

 dling grain at Chi- 

 cago, St. Louis and 

 Peoria. The cor- 

 poration was admit- 

 ted to m.'mbership 

 on th: St. Leu's ex- 

 change rem.' time 

 ago. 



The Illinois Grain 

 Corporation, region- 

 al co-operative for 

 Illinois, of which the 

 r. P. cummine. Mid-West organiza- 

 tion is a subsidiary, reports that five 

 more farmers' elevators applied for 

 membership last week. The Illinois 

 regional, a member of the Farmers' Na- 

 tional Grain Corp., is quietly sawing 

 wood explaining the advant.'gcs of pro- 

 t'u:cr co-operation .-t th? t?''minals as 

 well as at the countrv receiving points. 

 Thj Mid-West Grain Cori., co- 

 operating with the Farmers' National, 

 handled a substantial numb:r of cars 

 of grain a^ Peoria, Chicago and St. 

 Louis during October. 



Future Trading Is Gambling 



TRADING in futures on the C;hicago 

 Board of Trade when the intent and 

 purpose is merely to make a profit on 

 price fluctuations, not to deliver or ac- 

 cept delivery of grain, is i^anihlinti; 

 hence debts so contracted arc not col- 

 lectable, according to a recent ruling of 

 tiie Illinois Supreme Court. 



The ruling was given in the case of 

 James K. Riordan of Riordan, Martin 

 & Co. against Vi''illiam McCabc, Bureau 

 county farmer. 



McCabc, the evidence shows says a 

 news report, had run up a large loss 

 he was asked to make good and turned 

 over mortgages on Illinois farm lands 

 to cover the debts. The mortgages 

 were held bv James K. Riordon for 

 eight years and on default of interest, 

 a foreclosure suit was started, which 

 w as opposed by McCabe. The case has 

 been through the lower courts and 'a 

 decision rendered against the brokers, 

 who carried it to the Illinois Supreme 

 Court. 



In aflirming the lower courts the 

 bench held the intention of the pur- 

 chaser of grain is the only thing that 

 can distinguish a gambling transaction 

 from a legitimate deal. The court said 

 McCabe had never intended to buy or 

 sell grain, but simply had plann.-d to 

 profit b\' the fluctuation of prices and 

 thus had been gambling on the proba- 

 bilities of market action. 



Baseball Dope 



iContiniitJ jriim />j:,v I J) 



Brief remarks by C. E. Brockman of 

 Jacksonville, a former University of 

 Illinois baseball and football player; by 

 Farm Advisers Clanahan, Parett, Chal- 

 craft, Hustcd; by I. A. M.idden, for- 

 mer adviser of Sangamon county, and 

 by the team managers wound up the 

 evening. An excellent dinner was 

 served hx the ladies of tlu' Presbyterian 

 church. Farm Bure.Tu ba'^cball te.'.ms 

 from Morgan, Greene. Cass. Menard 

 and Sang.unon counties participated in 

 the gathering. This was the second 

 annual banquet for the teams in Dis- 

 trict Seven. They voted unanimously 

 to hold another one next year. 



To Boston 



The following delegates who will 

 represent Illinois at the coming A. F. 

 B. F. meeting in Boston, Dec. 8. 9 and 

 10, were chosen at the October meet- 

 ing of the I. A. A. directors in Decatur: 



Earl C. Smith, 



A. R. Wright. 



Geo. F. Tullock, 



Harold C. Vial. 

 Alternates are A. N. Skinner, Sam- 

 uel Sorrells, Frank Ocxncr, W. L. Cope. 



