The Kimball graphic. (Kimball, Brule County, Dakota [S.D.]) 1883-1905, 1901-02-16
SPECIAL CREAMERY MEETING

SPECIAL CREAMERY MEETING
Results in the By Laws Remaining
as They Are and a 80 Per Cent
Dividend for Stockholders
Pursuant to a call, a special meeting
OF the stockholders OF the creamery com.
pany was held at the engine house Sat-
urday afternoon. The meeting was cal
led for the purpose Of taking up the mat
tor OF amending the bylaws in some
parte. more particularly that section re-
quiriDg levy for the sinking fund Of
Eve cents per hundred for every hundred
pounds OF milk delivered.
The sense of the meeting was two to
ono against amending the bylaws in
any material feature; leaving the sink
ing fund levy as it is. and 6eclaring as
big dividends on the capital stock as the
the pot would stand. II to this senti-
ment could have been added the stock
not represented-abou one third-the
disposition Of the stockholders in this
respect would have been oven more
strongly manifested.
Last spring twentY-three shares were
claimed to have been transferred from
the business men of the town Qncluding
two or three shares outside) among the
farmer patrons of the creamery for the
purpose, it was stated, of putting a stop
to the robbiDg of the patrons for the ben
eft of the stockholders. At no meeting
since the new organization has there
been to exceed twelve or thirteen shares
all told voting to carry out this idea. 1t
has naturally followed then that The ad-
mission into tho company of thirty five
or forty patrons, representing about two
fitths of the stock, has served rather to
strengthen the power Of the old stock
holders than to weaken their influence.
That is to say: those farmers and pat
rons who were original stockholders and
still retain their stock have absolute
control Of the company, as they always
had, which the transfers of the stock OF
the business men to farmers has bat
strengthened. This was an inevitable
outcome for the simple reason that OF
those who bought the stock of tho busi-
ness men, all but All Insignificant few
were perfectly satisfied with the manage
ment CT the company from top to bottom,
hnt n a II thrnnht =
enough to own share or half one that
they might not only have a voice in the
concern but shore in any tig dividends
that might be declared. They, together
with some OF the stockholders who re
tained their interest, were willing to
change managers in order TO stop the
bowling Of few kickers, that peace
might preyail-a few possibly were ac-
tually scared--but this appears to be tho
point on which they drew the line. 1t
is fair to say, nevertheless, in this con-
nection that few OF the prime movers
last spring have stood by their guns.
They, with some others, represent the
minority referred to. This seems to be a
fair and impartial view of the situation
of affairs, without prejudice and with
out attempting to discuss the merits OF
the case one way or the other, which at
best would be out of place at this mo-
mant.
1t must not be under stood, however,
from this Introductory that there Is q
row Oh. or an approaching one, nor that
Saturdays meeting was rough house.
On the contrary there was q disposition
shown to abide by majority role. AS a
matter Of fact the Klmball Creamery
company is getting along as harmon.
iously as the average of the kind and has
been tco firmly placed on its feet to ad.
NIT Of any differences inimical to the
prosperity Of the plant as an institution.
The meeting was called for p. M, bu1
the stockholders were slow In gathering
aid even as late as 2:45, when President
Farrell called the assemblage to order
1t looked dubious about there being III,
necessary two.thirds representation O
capital stock. The roll call showed
29a shares. recess was taken while
round up was being made along Mali
street. This resulted in bringing In
few tardy ones.
The first motion made at the meetin,
was one by Burkine that another ten pc
cent extra dividend be declared, maxim,
thirty per cent all told. The motion wa
ruled out of order.
A second roll Call was here made whic
resulted in 36 shares of stock tein
shown as represented. one more thai
the required two-thirds.
There was a piece OF paper lying o
The table, which was passed around to
few nearby, and which Bait Ryan ilnall
: handed Glad Smith to read. The motto
was one to increase the secletary's sa
ary from SIS to $50 month. 1t carrie
with it two riders, one allowing the
: rectors $3.50 per diem for meetings an
the president such compensation as ii
board might think fair and rcasonabl
and 81 per thousand for tbe treasure
for money paid out. 1t was pxplaine
that the motions Of former meeting
allowing these perqGisites to the boaI
3 and treasurer were in conflict with IL
: bylaws. Inasmuch as the by laws [
d not forbid compensation to the directo
: except the hrst year, the resolution at
former meeting to allow them $l.5O p
diem will probably stand. Tho motto
n as 1t was read was put to vote and ve
" ed down by a majority Of 81 to Is.
It A motion WIS then made by w.
. Hitchcock to reduce the sinking ful
1t levy from FIVE to three cents per hu
dred. Thevote stool 1919 yeas and
nays. and was declared lost.
IS Burkine's motion was then allowed
N prevail, one providing for 30 per ce
ct dividend, and carried by u vote of 19 to
Tho meeting then adjourned.