The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1902-10-14
TRUST DEFEATED.
Farmers Elevator Company at
Haven Is Victorious.
Stockholders Have Stood Ready
With Financial Aid.
DEFIED INJUNCTIONS.
Was Built Regardless of Courts
and Mandates.
Farmers Have Realized $4,000
More for Grain.
DEFIED INJUNCTIONS.


It has been reported that the Farm
ers' Elevator company at Haven, Reno
county has been broken up. c. w.
Peckham, president of the company.
denies the report 1t is claimed that the
report has been spread with a view to
keeping other farmers from building
elevat tors of their own. Mr.. Peckham
says:
LAS soon as we bought a site. on
which to build an elevator, we were
assaiIed by an injunction suit drought
by the trusD. This suit caused many
farmers to withhold their support from
our venture, Just as it was expected
to do by the trust Our elevator was
built, however, regardless of injunction
suits, and the suits were afterward
fought out in the district and supreme
courts.
we won on every count in both
courts. Our opponents having no
grounds whatever for such a suit.
These suits cost us more than $3.50 cash.
besides our time and much trouble and
on account of these suits. our stock was
not all sold, and we were compelled to
borrow $1,000 for one year to complete
payment for our elevator. This loan was
secured by mortgage on our elevator
At the expiration of the year, it was
thought best to extend this loan.
while negotiations were pending.
the mortgage was sold to Kansas City
parties, who at once sent it to Hutch
inson attorneys, with instructions to col
learned of this and promptly placed
funds in bank to pay mortgage and in
terest. The holders Of the mortgage at
first refused to release the mortgage.
but did afterwards send an imperfect
release, which was returned for correc-
ton, and so matters stand at present
We shall pay this debt with the funds
on hand for that purpose, and if neces-
sary go to court again to clear our
property on the records. This in brief
is a part of the obstacles thrown in our
way by our opponents, who claim to be
friends of the farmers, Many farmers
have held a1Oof from our movement not
wishing to become involved in a lawsuit.
but we have received financial aid and
good will from farmers who are not
stockholders and who live nearer other
markets They say we have indirectly
helped them.
THE Farmers Elevator company at
Haven is in better condition today thar.
it ever was We have funds on hand to
pay all our Indebtedness. The utmost
harmony and good will has always pre-
vailed in our membership. We are do
ing good business. Our elevator nev.-
has been closed. nor will it be While lis
! usefulness is so apparent to all our
farmers. Our elevator is opera ted under
a lease at present which can be ternli-
mated at any time, but the present ar
rangement is very satisfactory r' -
| Our opponents predicted that we would
be two years in getting started and have
predicted our downfall, and to this they
have contributed in every conceivable way.
They have paid two to ten cents more for
grain at Haven than they pay at markets
fifteen miles away on the same railroad
They pay more for grain at Haven than
they sell it for. Our farmers can stand
this forever. Under such circumstances
could our stockholders expect dividends?
| INSTEAD of a dividend we at one time
had a deficit, which was cheerflilly met
by the stockholders, assisted materially
by non-stockholders. Each one being a
producer and seller of grain, readily saw
that he could well afford to help pay our
running expenses A farmer who is an
extensive grain grower told me yesterday
that he would invest $500 in addition to
what stock he has, rather than do without
our elevator.
After carefully estimating the amount
of grain handled at. Haven and adjacent
markets, assure you that the farmers
within ten miles of Haven have realized
at least $4,000 more for their grain during
the last eighteen months than they would
| have obtained under conditions existing
before we built our elevator. In fact our
elevator fills a. long felt want and is here
to stay"