290 CORN 



The buyers represent exporters, shippers, millers, cereal manu- 

 facturers, maltsters and feed dealers, who buy in very large quantities. 

 There is no formality about this buying and selling. The buyers are 

 striving to secure the lowest possible price on what they want, and 

 the commission merchant is fighting every inch for every fraction of a 

 cent he can possibly get for the grain he has to sell. He must know 

 how to get his price for his client, he must be a good judge of grain, 

 he must know where to find the best market, and he must be honest 

 in order to hold his shippers and buyers. If he thinks the grade given 

 the grain which he has to sell is too low, he orders to have it rein- 

 spected. This he very frequently does. He is constantly meeting the 

 stiffest competition known to marketing. Perhaps his client has sent 

 another car of grain to some other commission firm in order to find out 

 which concern gets him the best deal. He has his reputation at stake 

 and on that he must depend for his living. If the grain is full of 

 moisture, he knows at once he cannot sell it to the exporter or to the 

 man who contemplates storing it any length of time. Then he must 

 sell this to someone for immediate consumption. All these things and 

 many more have to be quickly considered. 



Trading ceases promptly at 1 :30. It is left for the clerks in the 

 ofHce to figure up the returns for the day's business done by the firm. 

 The following morning, perhaps, someone from the firm calls at the 

 main office of the weighing department to get the certified weight 

 for each car of grain sold, and this is sent to the shipper with a letter 

 giving the grade, the price per bushel, freight charges, dockage or 

 leakage, if any, cost of inspection, commission and a draft for the net 

 proceeds of the sale. 



In addition to this the commission merchant collects claims from 

 railroads for loss in transit for the shipper, and often loans money to 

 shippers where conditions require it. They must work on close 

 margins. 



COMMISSIONS AND OTHER FEES FOR SELLING. 



Cost of Inspection. The chief inspector of grains at Chicago is 

 authorized to collect on all grain inspected, the following : 



For In Inspection: 50 cents per carload; 10 cents per wagon or 

 cartload; 50 cents per 1,000 bushels from canal boats, 1-4 of a cent per 

 bushel from bags. 



