Middlebury register. (Middlebury, Vt.) 1886-1937, 1909-05-21
A PRODUCE EXCHANGE
Cooperative Business Enter
priSes Much Discussed.

n FARMERS organization In New Jer-
sey Affords Some Excellent Sugges-
tons For Specific Grange Corpora
ton In Buying and Selling.
From the reports of the various
state grange meetings we learn that
considerable attention was paid to the
matter of cooperative buying and sell
ing of farm products. Only in isolated
cases has anything been done with
more than ordinary success along these
lines. Massachusetts has organized a
cooperative association, with capital
stock valued at $4,000, shares S., is
sued only to members of the Order. 1t
is probable that something along this
line Will be done in New York state.
Such an organization in order to be
successful must be confined to mem
bers of the Order so far as concerns
the holding of stock but the outsider
must be given the privilege Of pur-
chasing supplies at the same prices
as grangers where such cooperative
grange stores are operated. In such an
organization the stock should be held
entirely by members of the order, and
they should get dividends, if declared
upon it. and also a certain percentage
of profits. There should be no dis
elimination as between members and
nonmembers as to buying at these
stores, however. Organized along these
lines we believe that grange stores
may be made success.
There is in New Jersey farmers
organization, though not a grange or
ganization. which is called the Produce
Exchange, with a capital of 100000
and it buys and sells everything the
farmer uses or grows and can do bust
ness anywhere. We give the details of
its plan as reported in the Rural New
Yorker:
The shares are s. each, and no man can
own more than twenty The stockholders
elect twelve directors who elect the ofh-
GERS and appoint the manager and local
agents. The main Office is at Freehold.
Seven thousand dollars of stock has been
paid in. On this they have equipped their
Offices and since the organization have
done 800 900 worth of business AS yet they
$500, 900 worth of business AS yet they
have done very little buying except to
buy $40 600 worth of seed potatoes. AS it
the exchange now does business there is
used annually between $3.50. 900 and $500 900
worth of fertilizers and seeds other than
potatoes it would seem as If here was a
field well worth looking after. which the
exchange is now taking hold of.
There are 400 members. For these were
sold last year 900 carloads of pototoes,
besides other produce. earning, it is esti-
mated to it's members not less than $50
900. They have received on an average
for the potato crop sl.75 per barrel, which
has been sold in eleven different states
and fifty different cities. They were so
fortunate as TO secure as manager a bust
ness man who has been for eIeVen years
engaged in the trade He is in direct tele-
graph and telephone communication with
all shipping points as well as the local
stations. When produce is brought in ii
is inspected. graded and sent where the
market reports for the day indicate to be
the best shipping points and sold direct
to large dealers. Sometimes the different
markets will vary on a days sale from
10 to % cents a barrel. This price is aver
aged for all of the same grade and the
price announced the day following and
the farmers paid on presentation Of their
shipping receipts. For this service. where
the exchange does the selling, a charge is
made of 10 cents per barrel. Small lots
of produce of various sorts are sometimes
sent TO commission houses, of which the
exchange has a select list. and the goods
are sent above, where the price and
demand seem best, according to the di-
rect daily reports received. The farmer
pays the regular 10 per cent commission.
The exchange does all the business and
for this receives its pay by a reduction
from the commission houses to per cent
when sent to store and 5 per cent when
sold on pier. the latter saving carriage.
| Today the exchange could pay for all
equipment and expense. return all money
paid in ard have a surplus left as a divi-
dend I'm stock