Morris tribune., 1898-12-17
FORM A STOCK COMPANY.
PROPOSED FOR CREAMERY ASSN.
A. A. Stone Tells of the Success of
the Morris Creamery and Submits a
Very CommendabIe Proposition to
Capitalize the Company.

A. A. Stone has prepared the fol-
lowing presentation of the affairs of
the Morris Creamery, which as being
of interest to SO many 0. our subscrib-
ers, we are pleased to publish.
"At the regular monthly meeting of
the board of managers of the Morris
Creamery Association. it was decided
to present to the members of the as
ISOLATION at their annual meeting,
which will be held on Saturday, Jan
uarY 9TH, the following plan for liqui-
dating the Indebtedness of the asso-
citation, viz: That the creamery plant
be capitalized at it's present value,
which is approximately $1,000, and
that shares in the amount of ten dol
lars each be issued to all parties
wishing to take stock in the enter
prise. 1t will probably be suggested
that the farmers be given the oppor-
tunity to invest in the stock. Of
course the first question that will be
asked by parties contemplating the
purchase of stock will be, does it pay?
We anticipate this question by an
swering, that from the time the cream
cry started in May 1896 until it closed
in November 1898, less than two years
and half have elapsed. In that length
Of time the sinking und--tive cents
on each one hundred pounds of milk
received amounted to sufficient
to pay the interest at ten per cent.
upon the orig inal investment for
three years and has added similar
amount in improvements to the plant.
In other words, the net to the ascot
alton, if the members had invested
their own money, would have been
about twenty-five per cent, per an
mum. There are other obvious advan-
tages in converting the association in
TO joint stock company.
There are farmers, not few, who
at the time the association was
formed, refused solely from prudent
all reasons, to obligat1ng themselves
on the note upon which the money
was borrowed to build the creamery.
These should be willing and probably
will when they have the opportunity
of limiting the amount of their obi
cation. to take stock in the company
and reap their pro-rata of the sinking
fund which at present is a dead loss
to all except the members of associa-
ton. Furthermore it ought to be poss
IDLE to get larger number Of farmers
it the success of the cream
cry. While the creamery has been an
success from the start it
ought to be, and it can be made
much greater success. 10 Gouble
he milk receipts would not only
double the sinking fund but it would
more than cut in two the cost of max
ng the butter, and there seems to be
10 more feasible way to accomplish
his much to be desired result, than
~ doubling the number of patrons
Who have direct pecuniary interest
n the success of the enterprise.
at is unnecessary at this time to
inter- into any argument to prove the
Indirect benefit the creamery has been
0 the country. To this there is no
Iissent whatever 1t should have been
aid in the beginning of this article
hat the accrued sinking fund amour
ing to about 500 will be divided pro-
alta among the patrons members of
he presents association who take
took in the proposed new corporation
his stock, however, will not be issued
ntil enough has been sold aud paid
Or to liquidate the present indebt-
1npsE"