MAGIC OF THE MIXING-HOUSE 



and charged the usual one cent a bushel 

 commission. The second agent sells the five 

 cars to a third, and the third, maybe, repre- 

 sents a terminal elevator owned by Roe & 

 Company, and sends the wheat to that 

 elevator, whither it might as easily have been 

 sent in the first place. 



There the contents of all five cars are poured 

 into one bin, whence, in the course of time, 

 it emerges graded as No. 1 Northern, and is 

 sold for such at the top of the market. This 

 makes the balance-sheet of Roe & Company 

 look like this :' 



Bought five cars of wheat at 85^/2 cents, 



average $4,275 



First commission $ 50 



Sold same wheat, after mixing, as No. 1, 



at 91 4,550 



Profit on mixing trick 375 



Second commission 50 



Profit by buying under real market, say. 25 



Total profit $500 



Less legitimate brokerage if sale had 

 been made for farmer direct to miller 

 at price the miller paid 50 



Total illegitimate profit, called 



by the farmer "gouge" $450 



Or $90 a car. With $8 a ton for screen- 

 ings to be added. 



1 It should be noted that these prices are calculated on the market 

 as it was at about the time of Evans's collapse. 



