The Virginia enterprise. [volume] (Virginia, St. Louis County, Minn.) 1893-19??, 1914-06-12
new PLAN KEEPS
BOYS ON FARM
Father Forms 100000 Corpora.
ton and Divides Stock
Among the Children.

he boy on the farm has been solved
by a Minnesota farmer. John Me-
Callum, canny Scot farmer of Big
Stone county, organized his nine sons
md daughters into a corporation and
divided the stock of his 1900 acre
farm among them, as though it were
regular city business, a factory,
store or mill.
Mr.. McCallum himself was elected
president of the farm corporation by
he votes of all the stockholders, while
MS oldest son, Gilbert, was elected
general manager and a younger son,
Leslie, was chosen secretary and treas
urer. One son was made superintend-
ent of the hog department., all full
blooded stock. Another boy was
chosen to care for the horses. Be-
;Ween two sons the cattle and sheep
were divided. The girls were placed
N charge of the home. Each child
was made superintendent of some d.
7ision Of the farm work and given
supreme authority in his or her de.
partment.
Named After Home Island.
II thought the matter over a long
time," says the farseeing Scot, telling
of his plans. "Then finally drove to
town, got lawyer, and told him my
plans. I suggested we call the farm
The Lismore Stock farm, from the
name Of the island in Scotland where
was born. He Incorporated the farm
with paid up capital representing
my valuation of the farm and stock.
| had stock book printed and filed
regular articles of incorporation.
"A few days later I called the child
rem into the parlor one morning after
breakfast and told them to be ready
for surprise. There were five sons
and four daughters. I had the farm
capitalized at 100000 and divided
the stock into blocks. I kept enough
for controlling interest. Then I pre-
sented each child with block of stock.
The plan had outlined was for them
to keep at work, buy some of my stock
each year, so that by the time I die
they will have purchased all of my
stock and will have absolute control of
the farm"
Board Stops Leaks.
The children we're enthusiastic over
the idea. It gave them an interest in
the work on the 1900 acres that they
had never had before, and before the
first week was over each one Of the
board of directors was doing his
best to stop the leaks that beset any
large corporation. The directors hold
daily meetings around the family
breakfast table, where the work of the
day is proportional, while annual
meetings of the stockholders are held,
as required by law, and the formali-
ties of business procedure are duly
observed.
The McCallum farm is the only farm
corporation in Minnesota-and one of
the. few in the entire United States
that make reports to the state and to
the United States the same as big
railroad corporation does.
What has been the result of the ex-
pertinent? Of the nine children eight
have stayed by the farm, one desert
ing it to become a lawyer. Nor have
the eight stayed against their will or
because they did not know, by expert
ence, the lure of the city. Five of the
children have been away to college.
have completed their courses, and then
hurried back home to stay by the cd
farm, in which they are directors. Two
Of the girls are now at college, draw
ing dividends from the farm corpora
ton and planning to return home the
minute they have won the coveted
degree.
Check Book a Help.
In only one important particular
1oes the McCallum corporation differ
from the usual one. The check book
is a decided innovation. Mr.. Mccall
!um had a special of checks printed.
Eeach year certain percentage of
the surplus is set aside. Each director
may write check on his surplus fund,
indorse upon the check what the
money is for, and cash it without ask
ing the permission of any other
director.
Only once has there been a very de-
:ided difference of opinion among the
directors. Last year there was big
surplus. The nine children directors
proposed to buy an automobile; the
president of the corporation was not
favorable. The nine outvoted the one
and the automobile was duly bought.
Mr.. McCallum chuckles over it now;
perhaps he opposed the idea on pur-
pose just to see what would happen.
''I'll have to admit I've made it so
ALFRED interesting for the kids they
haven't wanted to leave the farm"
says Mr.. McCallum, Except that one
boy-and he was cut out for a lawyer
from the start, I guess"
SAFE PHOTOGRAPHS ROBBER.
BERL1N June tic