The Springfield herald., 1913-07-04
EXPEDITE SALE OF PRODUCE
Special Legislation for Organization
and Regulation of Farmers En-
terprises In Canada.

BY an amendment to the agricul
tural societies act, passed at the las'
session of the British Columbia legis-
lature, the government will loan to
any approved cooperative company,
with twenty-five or more members,
eighty per cent. of its capital. Twen-
ty per cent. of the subscribed capital
must be paid up. Provision must be
made, through sinking fund. for the
repayment of the loan in twenty years.
The rate of interest Is fixed at four
per cent.
The cooperative company may be
organized for any of the following pur-
poses:
(a) The manufacture Of cheese. but
ter. cider, jams. pickles and spray mix
lures, and the drying and canning OF
fruits and vegetables.
OBJ The keeping of swine and the
manufacture and sale of the various
products.
(c) The dealing in poultry, eggs.
milk. cream and all other agricultural
products, and in supplies required by
patrons of such associations.
(d) The dealing in flour. feed, fer
tilizers, spray materials, and their ac-
cessories, and In foods of all kinds for
farm stock. for the purpose OF supply
ing the same to the patrons of this as
ISOLATION.
(e) The erection and maintenance
of cold storage plant and the sale OF
ice.
% For any purpose which may be
r., fvx{n nf fnttl
ture. having for its purpose the devel-
opment of agriculture. By complying
with provisions of the act, dairy COM
panies may come under the operation
i it.
Conditions which most be fulfilled
by the cooperative company are as
follows:
(a) That the district within which
It proposes to operate Is fitted for Its
support. and that there is a reason
able prospect of the same being
financial success.
(b) That the association has ac-
quired the necessary plant and build
ings for the carrying on of its opera
tions, or a site upon which to erect
such necessary plant and buildings.
| NC) i udt lllt dCQulSltlOh VI suSH
plant and buildings, or that the plans
of the buildings and the nature and
cost of the proposed plant and equip
ment. have been approved by the
minister.
Transmitted to the minister shall
be a statement verified by the presi-
dent. secretary or manager, showing:
(d) The number of members of the
company or association.
(e) The amount of stock paid up,
which must be at least twenty per
cent. of the subscribed capital.
60 All mortgages or charges. 1t
any, standing against the property of
| the association.
(g) Such other Information in its
possession or power as may be called
for by any regulations framed under
this act, or which the minister may
require.
utilization of the general provisions
of this act will be very general In Brit
ish Columbia this year. In the Okana-
gan valley several local cooperative
fruit companies, units of the central
organization formed through the in
strumentality of Mr.. II. Robertson
government expert, have been organ
ized In many instances. shares have
been fixed at $50 making $40 on each
as the amount to be furnished by the
members of the association.
1t is not expected that the repay
ment of the loans will be difficult
matter for the cooperative companies.
The first payment on sinking fund
does not have to be made until the
third year after organization. which
gives the company a fine opportunity
to get under way.