Saturday news. (Watertown, S.D.) 19??-19??, 1912-09-12

;rectors checked them over, passed on
figures, everything looked all right,
AT the end Of three years they chang
ed managers The new manager re-
fused to take the business until the
books were audited by q competent
person. They were audited and cost
the company $4,000 but they found.
they were eleven thousand dollars be-
hind. No one could tell where the
money had gone. They did not claim
the manager was the fellow who got
any OF it; but thought 1t was poor bust
ness management on his part Now was
1T not worse management on the part
Of the Board OF Directors, to allow
their business to be conducted IN such
a slip shod manner? And how many
Boards Of Directors have we, Just like
them? Plenty left.
believe that In every town, where
there Is q Farmers Elevator you
will find persons who are we'll quail
Red, honest and impartial; who would
and could audit your books
The Madison farmers, Elevator Co.
of which am manager, employs the
cashier Of the First National Bank Of
that City, to audit the books once a
month. That report Is flied with a
secretary, and copy filed with my
self. Any stockhc1der who may wish
to examine those reports can do so.
They are as near complete and cor
rect as can be made without making
a cut off. At the end Of the season
the auditor and secretary make the
cut OFF and annual report. Let the
business be successful or otherwise,
the stockholders know, II they want
to know, where they are at, all the
time. n,
SfEsWill some person tell me why "a
business that farmers are conducting
shouldn't be run on business princt-
pies ? & VIII a manager tell me why
he shouldn't insist on managing their
business on business principles? The
average banker is Just as honest as
the average manager; and still they
have a Bank Examiner. We have a
State Examiner, who looks after our
County Officers, and their ability and
honesty Is no more questionable than
the managers of the Farmers Elevar
tors. / am sure II the farmers of this
state can and will pay high priced
public examiner to keep sharp eye
on an honest county official, that he
will willingly pay a small sum out Of
his business to have that business
audited properly, honestly and intelli.
gently. 3 as
ask the officers Of the State As
sociation to secure competent audi
tor, whom they can recommend to
any Farmers Elevator who desire the
service Of an expert accountant, and
urge upon all Cooperative Elevators,
the necessity of auditing their &C
counts often.
We should all be deeply interested
| in the success Of all Cooperative
Elevator Companies, then we must
use good sound business principles.
In closing / appeal to the managers
OF Farmers Elevators whose business,
books and accounts are being audited
| by himself, to use your best efforts to
persuade your Board Of Directors to
Iemploy an auditor. ssis3
I quote you, b. G. Dunn you are
the man who steers your Company
stately into the sharbor of safety; or
drives 1t crumbling wreck on the
sands and rocks OF the business sea-
/ say to you, do your part to steer
clear Of the rocks.
Madison, South Dakota
HANDLING LIVE STOCK IN CON.
Wa NEcTIoN, OR WHY DO WE
HANDLE LIVE STOCK IN ETH.
AN. s51.5