The San Juan islander. [volume] (Friday Harbor, Wash.) 1898-1914, 1912-11-08
INDUSTRIAL DEVELOPMENT AND
PROGRESS OF OUR HOME STATE
FARMERS TO OPERATE BANK

FARMERS TO OPERATE BANK !.
Plan to Cut Out Middlemen and Rev
oiutionize Business System.
Colfax-A movement that promises
to revolutionize business conditions in
the Palouse country is we'll under way
and farmers hope by next fall to place
the mercantile business Of the Palouse
country largely in the hands Of the
producers. The smiddlemen'' are to
be dispensed with in mercantile work
as well as in the handling Of grain
and the farmers products.
The plan of inaugurating cooper
alive association, composed Of men,
bers of the farmers educational and
cooperative union and the grange, to
establish cooperative stores to be
owned and managed by the farmers
has been under consideration nearly
two years.
Farmers have made success Of CO.
operative warehouse companies to
store, ship and buy and sell grain and
claim to have made a big saving to
the farmers while making profit for
their companies.
The movement has been SO success
full that the farmers decided, nearly
two years ago, to branch out into the
mercantile business. A big store for
Colfax has been under consideration
for a year and more than 20 per cent
of the $50, 1000 capital to establish the
store was subscribed last spring, when
the matter was dropped until after
harvest.
During the interim the plan was en-
larged to include banking and line
of stores covering the Palouse country.
So quietly has the matter been worked
out that it has only recently "leaked
out" and the details have become
known to only one or two outside of
the men backing the movement.
P. w. Cox, known as 1.-The sheep
king" who is one of the directors Of
the national organization of the farm
ers educational and cooperative union
G. w. Perrine, secretary of the county
union; B. T. Manchester, prominent
member of both farmers organiza-
tions; P. B. Stravens, president Of
the Farmers State bank; w. R. An
derson, cashier of the Farmers State
bank, and the stockholders and direc-
tors of that institution, with other
men prominent in the farmers organic
atoms, are at the head of the move
ment.
The plan is to organize company
with $500, 900 to establish stores in
Colfax, Pullman, Palouse, Tekoa, Gar
field, Oakesdale, st. John and Rosalia.
Colfax is to be the central location
and probably headquarters of the COM
pany. All of the stock is to be held
by men directly interested in agricul-
ture.
The Farmers State bank, one of
the strongest institutions in the coun-
ty, is to underwrite the stock and
finance the proposition.
It is planned to try to interest 5000
persons in Whitman county, if possi-
BILE, and get each to take 500 worth
of the stock, but If that number can
not be interested the amount of stock
will be doubled and the number of
stockholders decreased by half, giving
$500 stockholders, with 5000 each.
The stock for these stores is to be
purchased from Eastern manufac-
turers, dispensing with the profits of
the manufacturers agents and the
wholesalers.
Henry Dwight, representing num-
Der of Eastern manufacturers, has
been here for some time, quietly ar
ranging the details with the represen-
tatives of the farmers union and the
Farmers State bank, and an arrange
ment has been made whereby the line
Of stores will buy direct from the
manufacturers represented by Mr..
Dwight.