The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-06-30

ing the three years OF its existence the
company has transacted more than $780,
600 worth of business without the loss Of
dollar. Last year., with an expense
for salaries, rent. Insurance, etc, ofSless
than $4,000, they carried on a business OF
more than 100000.
No person may become a shareholder
unless he be practical farmer, and no
member may own more than ten shares OF
stock at face value Of $40 per share.
There are few employees, and the BUSH
ness practically carries on Itself. Tho
company buys all OF the output OF Its
members and sells to the farmers what
they need. Others than members may
buy, but such trade is not especially
sought. Supplies are sold at little
above cost to the stockholders, but out
sders pay slightly more. The company
Owns Its own elevator for the storage OF
grain and merchandise and Its own lun-
her yard.
Contrary to the method Of other trusts,
this trust invites competition, as illus
trated by the following Incident: 1t
was discovered by the grain dealers that
the trusts were paying moro through Its
agents for grain than tho grain dealers
thought It should pay. The farmers were
demonstrated with, but replied that they
were satisfied that they had been receiv-
ing too little for their grain, and hence
raised the price.
Tho grain dealers. unable to bring the
farmers to terms. then threatened to put
an agent in town to outbid them, and also
threatened to sell farmers supplies be-
low the trust price and to put up an ee-
vator opposite to the trust elevator and
pay fifty cents for corn, when the farmers
could pay only forty-flvc cents.
But the farmers composing the trust
were in no way disturbed by this threat.
On the contrary, they told the grain
dealers to como right along. I'VE are
paying more for produce now" said they.
ethan is being paid by any town In the
State. We arc selling to ourselves at
lower rates than those OF any other dealer
In the State. If YOU can come In and pay
us more than we can afford to pay. and
sell to us lower than we can sell. we will
gain both ways. II you establish q grain
than we do we will go there and sell to
YOU"
Bahled in this. the grain dealers threat
ened to influence the railroad company to
stop shipping the produce and supplies
OF the farmers. But as the farmers were
good customers of the railroad, and as
the railroad was compelled by law to haul,
this threat, Of course, amounted to moth
ing. a
Next came the dealers Ing agricultural
Implements, who complained that the
farmers were selling to themselves at
wholesale rates, and insisted that they
should stop doing SO. But the farmers
replied that this was a free country, and
they had right to buy and sell as they
saw ut. If these dealers would not sell
to them, they would look to others. And
so that threat fell to the ground
That Is one of the finest trusts we ever
heard Of and we are glad to know 1T
is getting along so prosperously. 1t Is the
right of farmers, as we'll as others. to or
ganize for their own protection and bene-
fit; 1t is their right to get as much as
they can for their products and to pur-
chase their supplies as cheaply as posi-
BILE. and all efforts from whatever source,
to prevent them from doing either Is nm
effort at trespass and is not to be toll
Grated, Iurrah for the Farmers Trust OF
iowa! We wish there were such trusts
in Virginia.