But before actual business could begin a manager must be located who knew all the ins and outs and ups and downs of the grain business; also a seat upon the Winnipeg Grain Exchange must be purchased before the farmers could enter the arena as dealers in grain. None of the officers of the young company which was about to try its wings overlooked the fact that nothing could be more foolhardy than for farmers like themselves, direct from the green pastures, to attempt the plunge they were about to take without proper guidance as to the depth of the water and the set of the currents. They knew they were embarking in a most intricate and difficult business and with so much at stake on behalf of the whole farming population of Western Canada it was necessary to place the helm in the hands of somebody who could pilot them through the shoals. At best it promised to be a stormy passage.
About the only man in sight for the position was Thomas Coulter, of the Independent Grain Company. He had treated E. A. Partridge with more consideration as the "Farmers' Representative" than most of the other grain men and there was a possibility that he might be persuaded to take the offer seriously. But on approaching him, Mr. Coulter did not become excited over the prospect of managing a farmers' company in the grain business; even he was not inclined to take too seriously the effort of the farmers to do their own trading. How long would the farmers stand behind the company in the face of the competition that would be brought to bear? That was the question that bulged right out in front; for, as everybody knew, farmers never had been able to hang together very long when it came down to a matter of dollars and cents in their individual pockets. Finally, however, he agreed that there might be a fighting chance and accepted the management.
So far so good. But what about the seat on the Grain Exchange? The price of it was $2,500. One thousand shares of the company's stock had been disposed of with ten per cent. paid up and from the $2,500 thus realized the expenses of organization had to be met, the charter paid for, the legal fee and expenses at Ottawa in connection with the effort to secure a Dominion charter, office rent, printing bills and what not.