Co-Operative Grain Elevator Movement in Illinois: Thesis (Classic Reprint) - Hardcover

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Excerpt from Co-Operative Grain Elevator Movement in Illinois<br/><br/>The disposal of the grain at the terminal city varies. When the grain of a line company reaches this point, if it has not already been sold by the company's representatives on the Ex change, it is stored in its own.warehouse to await such sale. The independent companies and farmers' associations do not sell their grain directly upon the Exchange. This service is performed for them by commission merchants. Who charge about one half cent per bushel for handling corn and oats and one cent for wheat. These merchants not only sell the grain for the country elevatori but frequently advance capital to them with which to buy grain at the local market%)the capital of the local elevators is generally limited; consequently, there must be some credit relation to ena able them to purchase grain as it is brot to the elevator, and for which the farmers demand cash. During a rush season, when cars cannot be procured and grain must be stored, thus tying up the limited capital of the country dealer, this credit relation with the commission merchant has proved especially advantageous.

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