Gloucester County Democrat., 1912-01-25
S. j. FARMERS EXCHANGE.
Continued from Page One.)

the adoption of such a system. 1t is
evidently what will have to come
sooner or later, and the farmers are
standing in their own light by not
making it the policy of the Exchange.
Miss Colson wanted the resolution
adopted last year changing the by
laws so as to permit any person to
subscribe up to one-quarter of the
capital stock rescinded, placing the
limit as it was originally adopted at
forty shares for any stockholder.
Miss Colson thought this might open
the door for a few persons to finally
get possession of the Exchange if it
eventually should prove a paying con-
cern.
Herbert T. Borden, of Clarksboro,
thought the limit of forty shares to
one person too low and also one hun
dred shares, which had been proposed,
which Miss Colson was willing to ac-
cept, and proposed that it be made
500 shares, at which number the reso-
luton was finally declared carried,
the change to be voted on at the next
annual meeting.
The expenses for the year amounted
to $1720624, made up of salaries,
commissions, interest and discounts,
telephone and telegraph tolls, insur-
ance and office expenses. The inven-
tory of stock on hand at the different
stations amounts to $13,099.20.
The Exchange operates twelve sta
tions-W Woodstown, Daretown, Shiloh
Mullica Hill, Salem, Redwood, Aura,
Harrisonville, YORKTOWN, Monroe
vile, Mickleton, and Elmer, and the
amount of business done at each is
in the order in which they are given.
Woodstown leading off with sales of
$253, 710.96, on which there was a
profit of $10,759.12; Daretown, sales,
$152,171.13; profit, $6,134.35; Shiloh,
sales, $122,743.83; profit, $4,759.76;
Mullica Hill, sales, $104, 1924; profit,
$2,604.26; Salem, sales, $5S,643.54;
profit, 1,531.50; Redwood, sales $44,-
A statement of the amount of bust
ness transacted by the Farmers Ex-
change of South Jersey, has just been
issued as follows:
Total sales, $S77,SS3.76; last year
$445, ,092S6.
1851; profit, s1,O71.O9; Aura, sales,
$32,704.64; profit, $874.55; Harrison
vile, sales $31,S3O.19; profit, $7S2.23;
Monroeville, $26,762.32; profit,$5S5.O4;
YORKTOWN, sales, $23, 3,393.45; profit,
$6S30S; Mickleton, sales, $17,286.3S;
profit, $466.46; Elmer, sales, $9,738.94;
profit, $718.26.
The purchases for the year are as
follows:
1852 tons feed,
1919 barrels seed potatoes,
1914 tons coal,
110775 pounds grass seed,
$4,000 baskets and hampers,
128 tons lime,
1876 tons manure,
4744 tons fertilizer.
The Exchange received 625 cars
during the year and shipped 952 cars.
This makes a rather remarkable
showing, when it is considered that
the Exchange lost it's entire capital
stock and $4,000 besides the first
year. A good part of this loss has
been charged off, and it is hoped to
wipe it out entirely next year, make
the capital stock good and pay a divi-
f.srd, and begin surplus fund to pro-
vide for future contingencies.
The following directors were elect
ed, the only change in the Board being
the substitution of T. b. Dixon, of
Shiloh, for Charles H. Fox. who de-
cIined reelection Asa Moore, Null
lica Hill; E. T .Ridgway, Mullica Hill;
Geo. Horner, Jr., Harrisonville; Gle
ment B. Richman, Sharptown; Geo.
E. Waddington, Woodstown; Frank
Davis, Woodstown; John J. Hitchner,
Elmer; Clifford Flitcraft, Monroeville;
George NJ. Graf, Monroeville; T. B.
Dixon, Shiloh; Jos. W. Guest, Aura;
r. Morris Reeves, Salem; J Omar
Heritage, MickIeton
The sentiment of the meeting was
quite pronounced in favor of the mem
hers being loyal to the Exchange,