Gloucester County Democrat., 1912-01-25
IFrom Woodstown Monitor Register,
Jan. 19, 1927


IFrom Woodstown Monitor Register,
Jan. 19, 1927
The annual meeting OF the stock
holders of the South Jersey Farmers
Exchange was held last Saturday
afternoon in the Opera House, there
being a good attendance considering
the cold weather, and everybody felt
in good spirits over the splendid
showing made by Manager Davis OF
last years business, quite in contrast
with the first annual meeting, when
the report was not SO satisfactory
But the Exchange had to blaze Its
way and establish a business along
new lines, and that it did not ind al
together smooth sailing is not to be
wondered at. That it has done so we'll
in so brief time is a marvel OF man
agement and financiering, and the
farmers have it in their hands to
make it one of the most successful
and best paying concerns i'll the coun-
try, if they will give it generous and
loyal support. The year 49,. while
a record breaker in potato prices, has
demonstrated what can be done, and
with the same careful management
and the loyal support of the farmers,
its business should steadily grow un-
til il totals two millions OF dollars
and more a year. The strange thing
is that there is a farmer in all this
section who is not among its stock
holders. 1t finds market for his pro-
duce at the best prices, pays him
promptly and shoulders all the losses,
fa inn n
for the privilege of selling his pro-
duce and furnishing him with his sup
plies. 1t is an arrangement tnat
comes nearer striking the era OF the
golden age for the farmer than any
thing we have ever seen CT read
about, and the farmer who doesn't
give it support is indeed short-sighted
1t was nearly O'Clock when the
meeting got down to business, with
Edmund t. Ridgway, of Mullica Hill,
President of the Exchange, in the
chair, and j. Omar Heritage, of Mick
Teton, as Secretary Carol Petit and
Samuel H. Moore were appointed as
tellers to conduct the election of di-
rectors
Frank Davis, manager and treasur-
er of the Exchange, submitted his re-
port for last years business, which
totaled 1877, ,8S3.73, as again $445,092-
Sc for 1910 This sum was made up
as follows: Sales of potatoes, $685.
95S. .20-S561, 1878 for 4S2,113 bush
els of prime potatoes at $116 1-3 per
bushel, and S15,633.29 for 28,147
bushels of culls at 55 is cents per
bushel; and the following sales of sup
~. L II, a4h
feed and -four, $92,37067; baskets and
hampers, $2,042S2; binder twine,
$2S5.22;' coal, $5,417.10; fertilizer,
$13S, S,3S9.40; lime, $8eS.05; barrels,
$483.G5; sacks, $3,725.99; seed, $21,-
$01363 seed potatoes, 42,667.3S; Paris
green, $3,141.41; machinery, $85.51;
crates, $264.15; berry cups, $23.10;
manure $14S.05.
Sold 952 cars Irish potatoes. Aver
age price paid farmers, $3.40 per bar
rell Last years average, SLAP per
barrel.
Net profit for the year ending Dec.
31st. 1911, 81, ,902. .32.
The authorized capital stock of the
Exchange is $125,000, the par value
being S. per share. Only 5,518 shares
have been issued, netting $27, $50, which
is rather small capital to do so
much business on, and again empha-
sizes the excellence of the manage
nlent that could accomplish SO much
on so little, and President Ridgway
stated that the Exchange was fortu-
nate in having a manager who could
provide capital when it was needed.
and both Mr.. Davis and Mr.. RidgWay
urged the members to- subscribe for
more stock, as capital is greatly
needed to conduct the business and
avoid borrowing The number of meni
bers is now 677, an increase of fifty
four for the year They hold stock
from one share up to one hundred
shares, a few having this latter num-
Der. The average is about five shares
MISS Jessie L. Colson, of Daretown,
proposed a vote of appreciation for
the good work of the manager and off
GERS of the Exchange, which was
heartily given, all the members rising
to show their approval. Miss Colson
also offered to be one of ten to sub
scribe for twenty shares each, but
she was not taken up, though Man
ager Davis declared he would make
the stock worth par another year, and
that he would not take less than par
for his stock, and President Ridgway
intimated that five per cent. divi-
dend might be expected another year.
To do this, however, Manager Davis
declared he must have the co-opera-
tion of the members, and they must
put their produce up in good condi-
tion, so that the Exchange can es-
tablisI reputation for its produce in
the markets OF the country.
Reeves Flitcraft. thought the Ex-
change ought to establish system of
grading in purchasing potatoes, so
that the farmer who raises good po-
tatoes may receive the price for good
stock, and not be obliged to suffer by
having his good potatoes dumped in
car with his neighbor's inferior
stock.
Stephen McAllister of Sharptown,
concurred in this opinion, and gave
an instance of it's damage to him last
4a1x tt,1S