The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1913-07-19
NEW PLAN OF CO. opERATIoN
National President Of Equity Union
Sets Forth Ideas and Principles
of His Organization.

lBy c. o. DRAYTON. Greenyille. ND
think SO much Of the Equity Union
plan of Golden Rule cooperation, that
l want to proclaim it from the house
tops. This high standard OF business
| cooperation is being worked out IN
ten states by the young giant, Equity
Union. A lively campaign of educa-
ton Is being carried on at 100 gooo
markets, and Equity exchanges es-
tablished.
When strongly organized, the Eoui-
ty Union will prevent gluts OF central
! markets, which now cause farmers TO
| lose millions Of dollars. When there
Is sufficient cooperation by our Equity
exchanges, the price of farm machin-
cry will be reduced so per cent, coal
one dollar to two dollars per ton;
-four. feed, fertilizer, and all neces-
| saries, will come down, and consum-
ers, as well as producers, will be bene-
| flied.
Local unions are organized at the
best shipping points. When we nave
100 or more members at one place.
we start an Equity exchange with loo
stockholders and a capital OF Slo,ooo.
We work continually for more stock
holders and more capital. The stock
holders control this capital and run
their own business.
The National Union is organized
without capital. It Is an organizing
force, which carries on a continual
campaign of education, absolutely
necessary to the success of this move
ment for economic freedom.
The shares in our exchanges are
s25 each. The limit Is four shares.
The manager is bonded by a reliable
bonding company His books are care
fully audited every quarter and often
if necessary. Our commission firm in
Minneapolis gives each exchange q
set of books, and continual directions
and assistance in buying grain. we
work for honest, efficient manage
ment.
Each manager is required to buy
and sell on safe margin. All profits
are prorated to stockholders according
to their patronage A large volume
of trade from 200 or 300 farmers re-
duces the cost OF handling and In
sures the success OF the business. No
danger of assessments here.
Out of the gross earnings are taken
expenses, national dues, and five per
cent, dividends on the stock sub
scribed. Never allow more than Ave
per cent. dividends on the stock sub
scribed. All over this is profit, figured
as per cent of all the business fur
nished by the stockholders, and is pro-
rated back to stockholders according
to patronage.
Every patron who is stakeholder
gets back all that be earns by his pa
tronage. Only patrons can draw out
the earnings Of the company, as pa
/ tronsge makes the earnings. This
plan is just A small per cent paid
for capital, and as large an amouni
as possible paid back each year for
patronage will bind farmers together
in a union that win be powerful and
beneficient.
Each members produce and MGR
chandise Is handled at actual cost,
without profit, and large volume of
trade reduces the cost of handling.
Non-members are paid the same as
members for their produce, but do not
share in the profits.
We pay all the earnings of the COM
pany to patrons who are stockholders.
They must be both patrons and stock
holders to get share Of the earn
| ings Non-members will soon see the
difference and come in.
| The central idea in this plan Is the
union Of a large per cent. of our farm
ers. The entrance fee is three dol.
| lars. Each member has one vote and
| only one. To all members who have
| less than four shares, we prorate in
shares for their patronage until they
have four shares, the limit. We will
finally have 200 good farmers united
in each exchange, with a financial
standing Of $4,000 In the business
| world, and If this is not sufficient cap
ital, the limit of shares can be-
changed to Ave or six.
All Of our Equity exchanges must
cooperate in buying and selling. It
will take time and patience to work
this out. We leave our exchanges
free, as we do our members. We
never drive nor coerce.
We are now arranging to buy con-
trolling interest in coal mine for
our southwest unions. We will do the
same for our northwest unions. We
urge every farmer to rally around
the Equity Union banner. Leave the
profit-system, become a golden rule
co-operator, and your success as q
farmer Is assured. Send ten two-cent
stamps for the Equity textbook which
gives full explanation of our plan Of
cooperation.