The morning Astorian., March 15, 1908, Page 3, Image 3

SUNDAY, MARCH 15, 1901
THE MORNING ASTORIAN, ASTORIA, OREGON.
3
r
A
1
30Jomght
First Performance
Will Be Given
At The
Bijou Dream
W4 COMMERCIAL STRCfT
BETWEEN riPTCENTH SIXTEENTH
Moving
and Illustrated
Songs
PERFORMANCES LASTINO ONE HOUR.
FUN AND AMUSEMENT TOR ALL
Admission 10c
Children 5c
PROGRAM CHANOES MONDAY f
WEDNESDAY AND SATURDAY ,
i
'AUTOMOBILE ' CLUBS SPLIT.
' NEW V6UK, Marl R-Following
the split between the automobile club
f America," the Premier Motor or
ttaniratitm 0,1 ttii continent, and the
American Automobile Association
which occurred through the withdraw
al of the Automobile Club of the N.
' V. State Auto Association affiliated
with the A. A. A. at the mate organ
ixation meeting in Buffalo Thursday
formal announcement of the with
draws! wat made from the Automo
bile Ctub'i office here yesterday.
Although VV. II. llotehkis of UnfTulo
president of the A. A. A.; gave out a
statement yesterday in which he laid
the National organization welcomed
the New York Club withdrawal,
MtomobitUta who are in touch with
the situation expect the effect to be
far-reaching insofar as legislative,
touring and racing affair are con
' cerned.
The immediate effect of the with
draws! wilt be the disruption of the
various boards of the:A, A. A.,v par
ticularly the retiring board of which
Jefferson Dement Thompson, the
chairman, W, K. Vandcrbilt, jr. David
Henncn Morris and S. M. Butler are
members by virtue of membership in
the Automobile Club. Should any of
these men desire to be re-appointed
to the racing board it wilt be neces
tary for them to enroll as Individual
members of the Association. Effects
more far-reaching in nature are ex
pected by automobilistt to be a fight
for supremacy in legislative, racing
and touring fields.
The Automobile Club of America
it distinctively a New York City or-
' sanitation, its membership, however,
including many of the country's most
prominent motorists.
For Diseases of tha Skin.
Nearly all diseases of the akin such
as eczema, tetter, salt rheum and bar
bers' itch, sre characterized by an in
tense itching and smarting, which
often makes life burden and dis
turbs sleep and rest. ' Quick relief
may be had by applying Chamber
lain's Salve. It allays the itching and
smarting almost instantly. Many
cases have been cured by its use. For
tale by Frank Hart and leading drug
& its.
If you, are there you arc It the
Irish Social-B. P. O. E.
BRYAN'S DINNER.
LINCOLN, Neb., March 14.-W. J.
Bryan will give a dinner to the mem
bers of the Nebraska Democratic
Press Association on the evening of
March 31 in Lincoln following a ses
sion of the organization called for
tb'at date.' - ) , ,t
OAEfliprOVfDEfl.
tksSuh Party. Rrvislflwor.
SHIPS - OF FINANCE
Crops of Fertile Fields Nations
Real Steadlers. :.
CASH PAYMENTS FOR GRAIN
Only Small Part of Crop of
Course, is Needed Immediately
When It is Ready for Market, the
Reat Must be Kept In Reserve.
CHICAGO, Mar. 14, 19G8.-Like a
huge, whirling gyroscope the great
fertile West, ha brought the stagger
ing country nearly upright again. Its
bilious of new wealth from the crops
of 1907 have spun 'round the circle
of trade and their circuits have right
ed the reeling ship of finance, as the
gyroscope, in its recent marvelous
dcvelopement, is found to right a
storm-tossed ocean liner.
Tremendous forces were dragging
down Uncle Sam's wonderful pros
perity, were jerking furiously at the
nation's equilibrium. But the huge
gyroscope kept revolving, even in
creasing ' speed. The farmers were
paid cash for their wheat, their corn,
their oats and their live stock; the
cotton planters were paid cash for
their cotton. The farmers and the
cotton planters paid their merchants
the merchants paid their wholesalers
and the wholesalers' checks went to
the manufacturers. The crop had
been "moved," and this notwithstand
ing the fact that only part of the
grain had actualy left the farms, that
the actual shipment of cotton was only
a fraction of the total production,
All the crop was not needed simul
taneously. In fact, if the whole of
it had been distributed at once it
would have overwhelmed railroads
elevators, and shipping. Think of it
it was valued at $2,225,906,000, for
there were 634,087,000 bushels of
wheat, 2,592,320,000 bushels of corn,
754,443,000 bushels of oats produced
in the United States alone, and now
adays the world's values are fixed by
the world's supply. More than $2,
200,000,000 has been added to the
natural wealth as the result of one
season's crops.
Only a small part of a crop, of
course, is needed immediately when t
in ready for market. The rest must
be kept in reserve to supply future
demands for it as it is required for
consumption or export. As these
vast stocks accumulate, somebody
must carry the load, and right here
legitimate speculation performs its
part by providing buyers; and ac
cording to the number of buyers in
the market, and the competition be
tween them, values ar determined
As a mater of fact, the wheat crop
of the United States in 1907 was par
ecled out, under "future contract"
sales, only partly for cash, the price
ranging from 71 cents to $1.22. Dur
ing last October the cash price for
wheat ranger from 91 1-2 cents to
$1.05 1-4, and the farmers who gold
for May delivery received from 7 3-8
cents to 10 5-8 cents more a bushel
than those who sold for immediate
delivery.
Nowadays the telegraph and tele
phone have enabled the farmers to
keep in touch with the price made on
the great exchanges by the world's
supply and demand, and he sells as
suits his conveniences and pocket
book best, for in those exchanges he
has the whole world's bids of buyers
and sellers to reply upon. The of
fcrings of a dozen producing nations
on the Liverpool and Chicago Boards
of Trade meet the tense buying of the
world ' in a ceaseless 'contest of
strength. Thus a market is establish
ed that swallows every carload or
trainload of grain that the producers
of a country or state may have to
offer. It isn't all for immeriate deli
very, and causes no plethora nor de
pression of prices.
Always there is a cash for the man
with a granary full of wheat or a crib
full of corn, and he can deliver as
suits him best, for the markets are
adjusted for a year-round demand.
lie is not bound by a hard-and-fast
necessity of tossing his crop into the
avalanche of the world's grain pro
duction if he needs cash for pressing
obligations. He probably will not
want to assume the risk of holding
his grain on a mere hope of getting
a better price later. lie may not be
able actually to deliver his grain at
once because the roads are bad, or
his horses are not "up" for work.
Approximations of the world's de-i
mand and supply .in future months
are disseminated by Boards of Trade
generally. The daily quotations re
ceived by local grain buyers include
prices both for immediate and future
delivery, and the farmers can sell as
Is most profitable and convenient to
him. The big grain exchanges afford
a ready market for him as well as
price quotations for "spot" and fu
ture delivery, which establish a cer
tain value for his grain, making it
possible for him to borrow at hit
hank almost its full value. '
The farmer may sell his grain in
the field if he desires. He can, if he
chooses, garner it and wait for the
daily telephone or telegraph bulletin
to notify him of a raise in the market
which will give him a handsome pro
fit over a more heedless neighbor.
The warehouse men at his station,
and representatives of the big com
mission houses on the Chicago, Min
neapolis, Kansas City ami other ex
changes, will buy at the prevailing
prices of the day less the charges for
shipping and commission. If it is for.
immediate delivery the grain is at
once loaded into the cars and in a
few days is in one of the great ter
minal elevators.
Under no other system than that
now in vogue on the exchanges would
the financial ship have been steadied
as it was a few weeks ago. Rcmoc
the possibility of making contracts for
the future, and chaos would mark the
end of each harvest The farmed
who must realize after the expenses
of the spring and summer would be
forced to sell at once and the great
bulk of the year's grain would sudden
ly'be thrown on the market. The
middleman would be unable to pay
the farmer within ten to twenty-five
per cent, as much for his grain as he
is enabled to pay under the present
system, because of the risk of financ
ing and handling such immense quan
tities of corn, wheat, barley, oats, rye,
and flax all at once.
An illustration of what would oc
cur appears in the present situation
in the tobacco market, where there
is no opportunity to make contracts
for the future. The newspapers have
been filled with accounts of riot and
disorder in Kentucky, where barns
and warehouses have been fired by
"night riders." There has been no
quoted price recently for tobacco' as
for wheat and cotton. The farmers
brought their product to market and
the buyers bid for it. But the "com
bine" of tobacco manufacturers has
reduced the old-time field of buyers
to one or at most two interests. The
price is made accordingly, and the
grower may whistle if he does not
like the quotations, for he has no
other market. Experts who have in
quired into the conditions which exist
today in the tobacco producing states
point out that buying and selling for
future delivery is the only hope of the
industry.
In 1898 an industrial commission
was appointed by the Government to
investigate the effects of present trad
ing methods on the value of farm
products. Senator Kyle of South
Dakota, one of the great wheat states,
was chairman of the commission. It
outlined the economic services of ex
changes and their agencies engaged
in distributing farm products as three
fold: 1 "They localize industrial risks
among a commercial class whose
special function is to distribute sur
plus supplies over deficit times and
places in such a way as to lessen the
uncertainty of producers and con
sumers. 2 "They relieve producers ond
consumers from carrying a whole
year's .stock, enabling the farmer to
convert his crop promptly into cash
capital, and the latter to supply him
self as his periodical needs may re
quire without enchancing prices be
yond the original rate or risks and re
turns of such capital investments.
3 "Competition of ' speculative
traders tends more than any other
force to reduce profits of these agen
cies to mininum per unit of commod
ity handled. Released from their
economic functions, it is to their in
terests to seek to reduce the risks of
distribution to the minimum. By ex
pert acquaintance with the conditions
that involve risks the hazardous ele
ments are gradually limited if not
entirely eliminated."
This commission made probably
the most exhaustive examination of
the subject which has yet been under
taken in this country. Similar inves
tigations have been made abroad.
The British Government, for instance
after a study of the food problems in
ndia, has come to regard the specu
lative distribution of supplies on the
whole as far more efficient than any
bureaucratic distribution could be.
Where a government has assumed
even part of the risk of crop distri
bution, as in Russia, piles of wheat
! t
mil
3F '
a l hi r
OF
lAili
AND ALL THTOAT and LUK
DISEASES
PREVENTS
"Two years ago a severe cold settled on my lungs and so completely prostrated me that I was
unable to work and scarcely able to Hani. I then ws advised to try Dr. King's Vew Discovery, and
iter using one bottle I went back to work, as well as I ever was."
W. J. ATX35S, Banner Springe, Tesn.
PRICE 60c
AND $1.00
SOLD AND GUARANTEED BY JZ
Charles Rogers (EL So a, Druggists.
rot in one sction, while people starve
in the next one.
Several years ago Germany, under
the bourse law, attempted to pro
hibit the buying and selling of grain
for future delivery. As the law
worked out, instead of benefiting the
agriculturist and the consumer, the
only gainer was the provincial mid
dleman, who charged higher prem
iums for his increased risk growing
out of the lack of Berlin quotations.
The farmers got less and the millers
were asked more. The result was
the intervention of the Government
to re-establish the brokers' central
organigation. Though the farmers
had been given the liberty to sell
their crops in advance of delivery,
they found this could not be accom
plished successfully without quota
tions which had the recognition , of
producers and consumer alike.
The United States is the greatest
surplus producing wheat, corn and'
oats nation in the world. The bulk
of the American crop is sold by the!
grower within a comparitively short''
period after, harvest, and is bought
by the handling concerns and stored,)
pending the period when it will be
demanded by the manufacturer, con
sumer or exporter. As the first buy
er does not want it on hand longer
than necessary, it is purchased from
day to day by grain merchants. The
character of this buying, based on the
anticipated needs of the world, est
ablishes the price.
It is this system of sale and deliv
ery which has furnished the means of
getting the great 1907 crop trans
ferred into the medium of currency
which now is serving as the righting
agent for the nation Economists
who have made a careful study of the
subject believe that the abolition in
the United States of future trading
of buying and selling farm commod
ities for future delivery thus keeping
a nice adjustment of the country's
products to its financial needs would
be followed by a depression more
serious than that which has just been
experienced. It would cause the
greatest source of national wealth
the annual crop to lose power as an
adjustive agent they say, and the
disorganization of the handling forces
would by sympathy affect all busi
ness and industry, and the nation
would face hard times, indeed.
UP-TO-DATE PMXT
hnyt o tlx lookout for the moat approved ways ot dttiag
tMaga,we nv secured Um right to oeS the well known paints,
, stalna, vxmishet, mads and sold under the mark f
fME QUALITY
A mark that enables any one, novice or expert, to get, without '
doubt, exactly tb right finish tor wood
or metal, old or new, Inside or out.
laoovof
ttUtteHcttaoi -
."a cat that
rialnrenlaia lemaa,
Wfcaa ata anytec, aakfora i
tfca agflnamb..7nTb Betecti
Oaaef Mataeol Ftalahai," a t"
ALLEN WALL PAPER
AND PAINT CO.
1 1th & Bond Sole Agts.
A Pleasant Physic,
Cheap Rates From the East to
Astoria via 07 R. & N.
The following is a list of a few points from which cheap rates will
Ks&tj&i PP'y between March 1st and April 30tb:
Atlanta, Ca..... ...,...$51.65 New York, N. Y...........$SSJfl
Baltimore, Md. 54.25
Boston, Mass.............. 54.45 .
Buffalo, N. Y..... 47 JO
Burlington, la... 34.60
Chicago, Ifl... 38.00
Cincinnati, O. 42.20
Cleveland, O... 44.75
Toledo, 0 430
Des Moines, la.. 32.85
Louisville, Ky. 41.70
Memphis, Tenn. 39.65
Milwaukee, Wis............ 38.00
Oklahoma, O. T... 33.45
Peoria, 111. 36.05
Detroit, Mich......... 43.50
Pittsburgh, Pa... 47.00
Philadelphia ................ 54.75
St Louis, Mo 35.50
Washington, D. C... 5335
Kansas City, Mo........... 30.00
St Joseph, Mo............ 30.00
Omaha, Neb 3O00
St Paul, Minn............ 30X0
Minneapolis, Minn 30.00
' Money can be deposited here and tickets will be furnished by tele
graph without additional cost For further information call on
Q. W. ROBERTS, Agent, O. R. & N. Dock, Astoria
When you want a pleasant physic
give Chamberlain's Stomach and
Liver Tablets a trial. They are mild
and gentle in their action and always
produce a pleasant cathartic effect
Call at Frank Hart and leading drug
gists. Ask for a free sample.
Something doing 17th of Ireland
B. P. O. E.
SLOT MACHINES.
Maraschino Cherries
DELICIOUS
Try'em 75c and $1.00
a bottle at , the
AMERICAN IMPORTING CO.
589 Commercial Street
For Vending Postage Stamps Place in
New York Postoffice.
NEW YORK, March 14.-To de
termine whether or not they will be
practicable for general use, two slot
machines for the vending of postal
stamps are to be placed in the corri
dors of the general postoffice on Mon
day. The dropping of a coin will
immediately bring forth a stamp of
the desired denomination the weight
of the deposited money, whether it be
one, two or five cents, determining
the stamps that is brought out
Stamps of these three denominations
will be available. A committee of
postal employes will watch the work
ings of the machines, which if prac
ticable, it is said, will also be in
stalled in the subway to sell tickets,
Cores Biliousness, Sick
Headache, Sour Stom
ach, Torpid Liver and
Chronic Constipation.
Pleasant to ta&e
Laxative Fruit Syrup
V. T. LAURIN, OWL DRUG STORE.
Cleanses the system
thoroughly and clears
sallow complexions of
Ipimples and blotches.
It is guaranteed j