OLEOMARGARINE. 181 



many questions and his time has about expired. I hope the questions 

 will be limited. 



Mr. KNIGHT. As another officer of that organization he has referred 

 to in connection with a salary, I want to go on record here as stating 

 that I, as secretary of the National Dairy Union, never have in the 

 four years I have been connected with the association had one cent of 

 salary, nor has there ever been a salary attached to the office. 



Mr. LESTRADE. I did not mean that as a slur in the slightest degree. 

 There was no slur in my remark at all. 



Mr. KNIGHT. I do not like to be referred to as a walking delegate. 



Mr. LESTRADE. I was not referring to you personally. 



Mr. SCHELL. Just one question: You say the farmers who supply 

 your milk are interested in your creameries? 



Mr. LESTRADE. Some of them are; and that is what I am educating 

 them to do. 



Mr. SCHELL. You really buy just the cream, as I understand? 



Mr. LESTRADE. No; we buy both milk and cream. At some of our 

 creameries we buy the cream alone and at others we buy the whole 

 thing. 



Mr. SCHELL. How do you estimate what you pay the farmers for 

 this milk and cream? How do you get at the value of the milk and 

 cream ? 



Mr. LESTRADE. How do }^ou mean ? 



Mr. SCHELL. How do you fix the price you pay them for it; by 

 contract, or how? 



Mr. LESTRADE. In both ways; sometimes by contract and some- 

 times otherwise. That part I am not familiar with, for I do not 

 attend to it. 



STATEMENT OF WILLIAM H. THOMPSON, PRESIDENT NATIONAL 

 LIVE STOCK EXCHANGE, CHICAGO. 



The ACTING CHAIRMAN. Whom do you represent, Mr. Thompson ? 



Mr. THOMPSON. The National Live Stock Exchange. 



The ACTING CHAIRMAN. How much time do you want? 



Mr. THOMPSON. I just want the time that you think I ought to have. 

 It is simply a business proposition, or a business talk, rather, that I 

 propose to present. 



The ACTING CHAIRMAN. It would be agreeable to the committee to 

 have you cover as little time as possible in making your statement. 



Mr. THOMPSON. I should hate to say ten minutes and only occupy 

 five. 



The ACTING CHAIRMAN. We will give you fifteen minutes. 



Mr. THOMPSON. Thank you. 



I am pleased to come before you gentlemen to place the people 

 whom I represent on the side of right and justice and against this 

 Grout bill. 



To explain who I represent I may be permitted to briefly enlighten 

 you gentlemen regarding the nature, make-up, objects, and purposes 

 of the National Live Stock Exchange, which I, as its president, have 

 the honor to represent. 



The National Live Stock Exchange is a commercial organization 

 without capital stock, organized, not for the transaction of business, 



