The Devils Lake world and inter-ocean. (Devils Lake, N.D.) 1915-1920, 1915-12-02
REVENUE STATEMENT
OF THE EQUITY CO.
OPERATIVE EXCHANGE

Nh. Thatcher, Of the Equitable Audit
Company, has just completed an audit
Of the books Of the Equity Co-opera,
tive Exchange for the period above
mentioned.
While MI. Thatcher's audit is OK.
haustive In every detail, we publish
here the revenue statement only. The
rest of his report will be fully consid-
cred at the stockholders meeting next
January. Mi. Thatcher's sport fol-
lows:
y. M. Anderson, Esq,
President Equity Cooperative
Exchange,
Fargo, North Dakota.
Dear Sir: In accordance with your
Instructions we beg to submit our
audit report for the first quarter end.
ID. October soth. 1915.
NET PROFIT: s1s,sss.s4.
"This account il thoroughly set
forth in Exhibit II and supplemented
BY expense schedules "A, B., C..
D. and e. Particular attention il
u called to the fact that the expense
per month. $4,000. is no more than
that for the corresponding three
months the year previous, while on
The other hand the revenue receipts
are practically doubled.
1.-THE affairs of the corporation are
IN . greatly improved condition com.
pared with previous examinations of
this corporation. There is being main
satned an economic administration un-
der the careful supervision of the
President, and there Is marked i'm
provement in the manner Of handling
The finances Of the corporation.
Every facility was afforded is dur.
ing the course of the examination.
Respectfully submitted,
EQUITABLE AUDIT CO., Inc,
NJ. w. Thatcher, President
EXHIBIT II.
EQUITY COOPERATIVE
EXCHANGE,
Income and Profit and LOSS Account,
Three Months Ended October 80. 1915.
c admissions on grain han
dled ..$30.21S.11
miscellaneous receipts 600. 1896
nent $500
$32.1s6.47
Less expenses ............. 13,227.53
Not r~"e+ for quarter. 80. SIS. e6S.94
The President of the corporation,
d Aue.sOu, maAes the follow.
0~~ ~~~-a-- A. I--S---- A.
corporation:
AT the time when our books were
elosed on the 30th of October, there
were at least 700 cars in transit and in
terminals awaiting unloading weights.
tnasmuch a. we can not make final
returns to shippers until loading
weights have been received, the con.
missions for those cars have not been
placed on the books. and hence have
not been added to the revenue for
October. This commission would
amount to at least $7.0o0.0 90, which, add
ID to tue net income reported above,
amounts to $4,000 % for the period
severed. !,
!, sour business IL steadily - tAs
NSAOOO0 wv dIO oOCOEAuB now ~
Dounts right along. Additional banks
Also have given their financial assist
encs to the movement. On August
Let, for Instance. W had but four
banks accepting Equity paDsr for 70.
discount. We have IN the neixhboF.
Mood Of twenty banks that are now 40.
0epttng our securities for the financing
pf the crop movement. We have also
increased our outlet for grain. It II
impossible now to supply the needs Of
The buyers who r purchasing grain
from 10. There v was q more
prosperous outlook for the Equity than
1t the present time.
1.-THE Equity farmers are planning
On q large convention to be held in
st. Paul, December 7th, 9Th and 9Th.
At this time the ground for the Ter
mfnal Elevator will be broken. A
large number of speakers have been
secured, and men Of national promi-
aence will participate in this conveu-
ton. Over FIVE thousand farmers aIo
avren%od - .ttanN -