GAMBLING IN WHEAT 39 



57 cents. The advance on wheat contracted for 

 in August, September, October, November, and 

 December were, respectively, 63, 74, 71, 77, and 79 

 cents. The cost of handling between Duluth and 

 Liverpool before the war, allowing for "legitimate" 

 profits, was 7 cents. For legitimate costs of han- 

 dling during the war. Congressman J. E. Kelley, of 

 South Dakota, reckons 17 cents, including emergency 

 and double freight-rate costs. On this basis the ex- 

 port loss during the six months totalled $65,722,- 

 226. Not all of this vast sum went to the ownei-s 

 of ships. Ocean freights were enormous, it is tme, 

 and varied greatly, but 30 cents a bushel to Bristol 

 Channel from July to November and 35 cents for 

 December would probably be a fair average. On 

 this basis the freight manipulation would be about 

 $37,000,000 and the amount gathered in by the 

 grain monopoly through export speculation, over 

 and above their other profits, about $28,000,000. 



The third abuse is that effected by fraudulent 

 practices between the farm and the terminal market. 

 These, though smallest in actual losses, come closest 

 home to the farmer. Under this class of exploita- 

 tion comes the undergrading, short-weighing, over- 

 docking, and price-gouging. The losses to the farmer 

 from these causes amount to from 15 to 25 cents 

 on every bushel sold by him, according to the esti- 

 mate, in the form of a resolution, of a large conven- 

 tion of farmers in St. Paul. Even at the con- 



