Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1911-03-06
RockWGLl'S COOPERATIVE 90.
!. GETTY DEATs RockEFELLER
ron EARNINGS.
TIN DOLLAR SHARES NOW
VALUED At Sts1.ts
o&be, eueeesssul 8oeietiss in Same vi
entity Reduce Membership Slightly
-osyostt Failed to Kill on orsani.
xstjer-Nsvv Officers Chosen at An
nual Meeting.
pec,al to Times Republican.

the avowed purpose Of being Q trust
buster the Rockwell Farmers Cooper
alive Society finds that it is in q bus
mess that for revenue producing equals
or even exceeds Standard OIL in lts
balmiest days Twenty years ago some
500 shares were placed in this institu-
ton by the farmers. Shares sold for
SO and farmers hesitated putting a
cent into the institution. When It was
shown to them that they could save
that SO In one winter In the purchase
price Of coal. they took hold.
Saturday at the annual meeting 1t
was figured out that each one Of these
shares was worth $161.1s. and at any
timo would be cashed in at that
price. This 10 little better than 80
per cont investment, or az one man
put 1t, like buying good old Iowa land
for $50 Per acre and selling It for $50.
And this - not all. The assets Of the
Rockwell Cooperative Society. ac-
cordtng to the report, have reached
So, E1o.41 and in the above reckoning
no account whatever Is taken of this
And where they have exceeded any
business institution there Is any rec
ord Of, 10 the amount of business that
has been transacted at the small ex-
penSe. They have done business this
year at an expense OF only l $40 per
cent And this has not been the best
year for a showing Of this kind. for
eight years ago they did q $eoo.oo
business on only a half Of per cent.
But then the manager was not receiv-
Ing only about half the wages and help
was very cheap. and the president. sec
rotary and directors all worked with
out compensation.
Membership Slightly Reduced.
On account Of numerous co-operat-
i've institutions starting up in the vi
cinity Of Rockwell the membership has
been reduced agout eighty. The pres
ont membership is ae6 and there are
now out 1873 shares. Quite a number
have invested in these shares az a
speculation. When the society first
organized the number Of shares was
limited to five, but the dividends de-
clared from time to time were allowed
to accumulate In shares and at meet
ing q few years ago 1t was necessary to
change the limit from five to thirty.
SO successful has this society been
that during its entire twenty-three
years history only two men have with
drawn from the society for reason and
this was not because of a dislike to the
principle Of cooperation but on ac-
count of personal matAsEA
Reasons For Success.
Several Of the leaders and the found
ers OF the society were asked by your
correspondent the secret Of the success
Of this parent society and they were
unanimously of the opinion that 1t was
their maintenance clause. This pro-
cent on every bushel Of oats or one
cent on every bushal Of oats or oone-
half cent for every sbushel OF corn. sold
to other than the Rockwell Cooper
alive Society. A complete schedule was
arranged So completely did this work
that members were requested to pat
ronize other buyers when they bid up
on prices, and then they would return
to their own society and pay into the
treasury their per cent. 1t worked
cllarmingly.
Boycott Failed to Kill.
Seven years ago was when co-opera-
ton Of this kind was nearly driven
into hole all over the grain produc-
ing states. Hon. n Densmore. the
founder Of the Rockwell society and
Of all successful cooperative societies,
met the issue squarely and success
fully. Commission men in the great
grain marts Of Chicago and Iowa
shipping points. refused to handle
grain shipped to them by cooperative
societies. Mr.. Densmore called every
cooperative man that he could find IN
the state Of Iowa to meet him at Rock
well. Some seventy came and the Iowa
Farmers Cooperative Grain Dealers
Association, now numbering $500
members is the result, and every COM
mission man in the country is only
too glad to get cooperative grain.
Saturday the Rockwell annual meet
ing was graced by the presence OF two
men who have done great things for
It Hon. n. Densmore came up from
Des Moines, at the age OF SO years. and
while in none too robust health. he adj
dressed the meeting. He was greeted
with loud applause when he came into
the hall. Hon. Thomas McManus, the
Patrick Henry" Of cooperation. was
also present and delivered an address.
Rebuen Holman was another enter
tanning speaker.
Officers Chosen.
The death Of President James H.
Brown made 1t necessary to chose
successor. The. following gentlemen
were chosen:
President, Matthias Johnson.
Vice president. Neil A. Ryburn.
Secretary. w. F. Doderer.