The Ladysmith news. [volume] (Ladysmith, Wis.) 1905-1905, 1905-03-25
EXCHANGE OWNS TWO ELEVA-
TORS AND CONTROLS THIR-
TY-THREE OTHERS.
THE DIRECTORS ARE ELECTED
WILL HANDLE OTHER FARM
PRODUCTS BESIDES GRAIN
THIS YEAR.

L. L
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 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 S5OO,-
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 one 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 Steiner
son, Crookston; treasurer, w. ).
Weatherstine, West Concord; secre-
tary, j. S. Mcdonald, Rush City.
After the meeting had been called
to order and committees on creden-
tails 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,
iects 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 dl-
rectors outside the state; to allow the
exchange to commence business Wnen
$4,000 stock had been subscribed,
ard to distribute the profits over 8
ner 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 its formation. He
stated that at the places where ele-
vators had been built the price OF
grain had been increased from cents
to s cents per bushel. The exchange
has handled 800 cars of grain and
has assets amounting to $4,000. Be
sides the two elevators owned by the
exchange, nineteen Dakota elevators
and fourteen i'll Minnesota have a
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 organlza-
ton when, if they desire, they can
take hold and do the business them
selves. He compared the farmers or
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 fOretatherS 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
Hone. N. D.; J. S. Macdonald of Rush
City and H. G. Block, three for two
wears. M. S. Blair of Emerald, n. d.;
George E. Case Of ST. Peter and*F. Il
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 membership in. the Mime
apolis chamber Of commerce and will
also establish an office in Duluth. 1t
is the intention to establish terminal