FARMERS' EXCHANGE COLLAPSES 



of Commerce of Minneapolis at a meeting yesterday, 

 July 17, 1905, and the application was not granted. 

 Yours truly, 



G. D. ROGERS, 



Secretary. 1 



This is all the information on the subject 

 ever officially vouchsafed to the farmers. 

 A disapproval of a membership was almost 

 unknown in the history of the Chamber. 

 Why was it recorded in this case? If the seat 

 had been transferred from one broker to 

 another, or from a broker to a firm, a cor- 

 poration, or milling company, however new 

 or of whatsoever shady repute, there would 

 have been, in all probability, no hesitation 

 about it. Such things had been done time 

 and again. As to why there was objection 

 in this instance, when all the farmers backing 

 the Exchange were well known to be responsi- 

 ble and of good standing and when they offered 

 to make a deposit to cover any possible loss, 

 the directors remained mute. It was doubt- 

 less as well that they did, for on the floor of 

 the Chamber no mystery was made of the 

 affair. The farmers were excluded from the 

 market, where their own grain was sold, be- 

 cause they were trying to do business on 

 the co-operative basis and for the Common 

 Good, and the brokers saw in that a threat 

 against their privileges and goodly takings. 



1 Before the Interstate Commerce Commission. In re Relations 

 of Common Carriers to the Grain Trade; testimony, p. 993. 



117 



