The Hope pioneer. [volume] (Hope, N.D.) 1882-1964, 1905-03-30
HANDLE THEIR
own PRODUCE
MINNESOTA FARMERS EXCHANGE
HOLDS ITS FIRST AN
NuAL MEETING.
ADDRESSED BY THE GOVERNOR
EXCHANGE OWNS TWO ELEvA.
TORS AND CONTROLS THlR-
TY-THREE OTHERS.
THE DIRECTORS ARE ELECTED
WILL HANDLE OTHER FARM
PRODUCTS BESIDES GRAIN
THIS YEAR.
THE DIRECTORS ARE ELECTED

nual meeting of the Minnesota Farm.
| ers' exchange was held yesterday at
| the old state capitol. George Case OF
st. Peter was elected temporary
| chairman. The farmers exchange is
a company incorporated a year ago
by the farmers of the state for the
purpose of establishing headquarters
at the terminals to handle the grain
and other provisions Of the farmers
of the state. 1t is capitalized at $780,
900 and the shares already sold are
held by about 600 farmers throughout
the state and also by the farmers
elevators and other cooperative com.
panies.
The exchange owns two elevators.
one at Pettis and n at Elmo. and is
connected with thirty-three elevators
owned by farmers companies.
The exchange handles other farm.
products besides grain. The officers
are: President, H. G. Block, Maine
Prairie; vice president. Elias Steener-
son, Crookston; treasurer, W. S.
Weatherstine, West Concord; secre.
tary, J. S. Mcdonald, Rush City.
After the meeting had been called
to order and committees on creden-
tials and resolutions appointed, those
present were addressed by Gov. ]. A.
Johnson, who welcomed them to the
capital city. He spoke of the good
to come from getting together and
the great work that the exchange may
do. He said he approved of the OBJ
| jects of the association and assured
the members that when the board of
grain appeals is appointed he will Sc
lect men who will give justice to all
concerned.
Changes in Bylaws.
The delegates adopted the commit.
tees recommendations that the by
laws be amended SO as to allow di-
rectors outside the state; to allow the
exchange to commence business when
$4,000 stock had been subscribed,
and to distribute the profits over 8
per cent, paid to the stockholders in
proportion to the amount of business
they bring the exchange.
The report of Secretary Mcdonald
recited the history of the exchange
and the objects of it's formation. He
stated that at the places where ele-
vators had been built the price Of
grain had been increased from S cents
to s cents per bushel. The exchange
has handled 300 cars of grain and
mas assets amounting to $4,000. Be-
sides the two elevators owned by the
exchange, nineteen Dakota elevators
and fourteen in Minnesota have 3
membership.
He urged the farmers to get down
to business. He had no time for the
man who kicks on the line elevators,
the beef trust or any other %organiza-
ton when, if they desire, they can
take hold and do the business them
selves. He compared the farmers of
the present to the %colonists oppressed
by England, and hoped that the farm,
ers of to-day will throw off the yoke
of the trusts as their %forefathers had
thrown off the yoke of England. He
predicted the time when the exchange
will handle all the grain in the North
west and be the greatest power in
the country.
Directors Chosen.
Nine directors were elected, three
to serve three years, o. G.. Major of
Hope, N. D.; j. S. Macdonald of Rush
City and H. G. Block; three for two
years, M. S. Blair of Emerald, N. D.;
George E. Case Of st. Peter and r. l..
Volk of St. Peter; three for one year,
W. Schultze, Valley City, N. D.; J. ].
Furlong. Of Austin and w. S. Weather.
slime of West Concord. The directors
will meet at Minneapolis this morn.
ing to elect their officers and make
plans for the year.
Several speeches were made before
the adjournment as to what would
and should be done. The exchange
will get a membership in the Mime.
apolis chamber of commerce and will
also establish an Office in Duluth. 1t
is the intention to establish terminal
elevators and cleaning houses as soon