at the close of navigation, conditions settle. The grain goes into storage, it is not forwarded as rapidly, some relief is given by transportation eastward, and, generally speaking, the condition of blockade ceases at or soon after the close of navigation. But, in the case of this season, instead of the expectation of relief being realised, the condition of blockade was made permanent and was accentuated. While there was a reasonable reflex on the farmer in his price because of the blockade condition existing before December 10, after December 10 a panic condition ensued and panic prices became the rule to the farmer. Instead of the country operator paying the farmer the winter price subject to the reduction that I have made for storage, insurance and other charges, being faced with the possibility that he could not get the grain forwarded at all, or did not know when he could get it forwarded panic prices resulted to the farmer, panic conditions prevailed and have prevailed ever since.
I have already said that unless the damaged grain gets to the hospital elevator by the first of April it is, in all probability, destroyed. This fact, of course, accentuates the panic condition that prevails this season. Of course, all figures must be estimates, actual accuracy cannot be demonstrated, but the figures which I propose to give the committee are unquestionably within the mark. On the 50,000,000 bushels of grain marketed between November 10 and January 10-that is marketed between the first blockade condition and January 10 when the blockade condition was demonstrated to be impossible of relief-estimating the loss to the farmers at six cents a bushel, the loss to the farmers would be $3,000,000. But, on the 50,000,000 bushels remaining to be marketed after J anuary 10, and, which, according to the statement of Mr. Thompson of the Ogilvie Milling Company, must be marketed under panic conditions, I think it is a very moderate estimate to say that the loss would be ten cents a bushel to the farmers, or a loss of $5,000,000 from January 10 to the end of the season and of $3,000,000 from the beginning of the blockade on November 10 to January 10.
Subtopic: GRAIN CONGESTION IN THE WEST.