The Mount Holly news. [volume] (Mount Holly, Burlington Co., N.J.) 1891-1942, 1913-12-16
Farmers Exchange Meeting.


the guilt of Brewer and the other two
were discharged.
Farmers Exchange Meeting.
The annual meeting of the stockhold.
ers of the Burlington County Farmers
Exchange was held at the court house on
Saturday afternoon. There was mark.
ed contrast to the meeting of year ago,
when there was considerable feeling eX-
hibited and a spirited contest for the
election of directors. The meeting on
Saturday was harmonious in every de-
tail.
The meeting was called to order by the
secretary, and Henry p. Thorn, of Med
ford, was chosen chairman.
A roll call showed over POO shares OF
stock represented, which was declared
to be majority.
The report of the secretary and treas
urer, Frank 5. Herr, showed that the
gross purchases for the year amounted To
S253, 4lO.l4; gross expenditures, 1916, 347. :
81. Balance on hand Nov. 30 1913,
81, 6S3.10.
Other figures given by Mr.. Herr are
also shown by the report of manager f.
E. Embree, which was next on the pro-
gam. d liOIJSlS Vi WHICH lOllOWS.
Manager Embree's report opened by
stating that he had occupied his position
for about eight months of the wear, but
that his statement covered the entire
year.
AS shown by the treasurer's report, he
stated, it could be seen that the Elk
change was handicapped by financial
conditions. 1t is difficult to transact
business of this magnitude with limited
capital, and at times the officers had to
appeal to the directors for aid.
The Indebtedness outstanding on
Nov. 30, 1913, amounted to 81, 731. 81,
with assets of $1l, 1886, made up of
good outstanding accounts, cash and
merchandise on hand, furniture, etc.
This is an increase of assets of 1855. 81
over year ago.
The management, he said, has reor-
gained the business by creating three
departments, namely, selling and mar
keting; buying; and financial; and the
plan had worked to advantage. During
the year there had been loaded and
shipped from Is stations 1853 cars (252,-
325 bushels) of potatoes, amounting to
SAP, AL .46, which was sold to 50 BUYERS
in 81 cities and towns situated in an area
as far east as New England and as far
west as Chicago. The market opened at
60 cents per bushel, advanced to so cents,
with the greater portion at from IS to 20
cents.
He recommended, in grading and in
spectiOn of potatoes, that there be A
and b grades, the latter to contain the
field run with thirds and culls taken out.
The sales of fruit and produce, COM
posed principally of peas, beans, corn,
ETC., mainly from the river front section,
was made through commission houses
selected by the exchange. Total ship
ments comprised "A, 934 packages, which
sold for S59, SS0,34, upon which there
was net profit of $566.S0. This bust
ness was not sufficient TO pay the salary
of the man employed to represent the
exchange in that district, but it is an
ticipated that this territory will support
the organization sufficiently by the pur-
chase of fertilizer, baskets, crates, ETC.,
to make it profitable Shippers there
had difficulty during the past season in
getting prompt deliveries of products.
owing to slow transportation by the Penn
sylvania railroad and the Adams Express
company, and this made quite differ
ence in the prices realized. MIR. Embree
recommended an investigation of plan
to run an auto truck service for delivery
to New York, Philadelphia and Trenton.
The fruit section of the business was
not entirely satisfactory. Weather CON
ditiOns affected strawberries, making the
crop far below normal, and as prices
were good in Philadelphia, many farm
ers carted their berries to that city, so
that the exchange did not get much bust
ness. The exchange was not able to
supply customers with the quantity de-
sired. There were shipped of strawber-
ries 81 cars $3.50 crates), which sold for
SIS, 1889, giving net profit of $552. %.
Other fruit was of light production,
and very little was handled.
The gross business amounted to $276.-
347.S7. The capital was turned y times
during the year, making business diff
cult at times. The manager suggested
that committee be appointed to for
mulate plans to increase the member
ship and to induce the present stock
holders to take more stock, thereby
creating more capital.
The concern now has S67 members. an
increase of 10 during the year, who sub
scribed for Is shares.
The records show that 1920 tons of fer
tilizer were sold during the year. There
are orders on hand now for 1871 tons,
and it is hoped to have it amount to at
least $500 tons.
The outcome of the seed potato bust
ness was disastrous. Details cannot be
given, Mr.. Embree stated, because the
transactions were made previous to the
present management. The records show
that 5000 sacks were bought, $3.50 sacks
sold to members, and the balance sold
on the open market. The loss on the
transaction was IS, 1886.
This year the operating in seed pota-
toes has been on more conservative lines.
Up to December 9Th, the exchange has
booked orders for 5116 sacks, and anti
cipates about 5000 more.
Mr.. Embree said he believes the ex-
changes influence has indirectly bene-
fitted all farmers in this section. In the
potato deal, the crop in this county was
poor in quality, size and shape. Buyers
from outside points were not purchasing
here, but went to south Jersey, where a
better quality could be obtained at the
same prices. The influence of the ex-
change made a difference of 10 cents a
bushel, but even at cents, it would
amount to $4,000 on approximately
l 100000 bushels shipped of this one
article.
The management has found that many
members are loyal to the organization;
Others are only when they can be direct
ly and personally benefited, looking
upon the exchange as simply another
buyer. Such sentiment should not ex-
list. With undivided support the bust.
ness could be made much more success
| full.
At the conclusion of the report there
was hearty applause.
l.. l.. Eavenson said the report showed
a great interest in the business upon the
part of the management and he felt
much encouraged. He moved that the
recommendations in the report be refer
red to the incoming board of directors
and it was so ordered.
Horace Roberts stated that he had con
fidence in the management, and if The
members will pull together, there will b.
| good results in the future.
Nominations for directors were theT
called for. There was no opposition, anC
the following were elected unanimously
Beverly district, A. g. Donald; Colum
bus, c. c. Tallman; Deacon S station, H
b. Wright: Hartford, J. Hansell Lippin
colt; Lumberton, c. b. Ballinger; Mari
ton, Charles d. Barton; Masonville, Al
bert HaineS; Medford, Wilson T. Haines