The Richmond Virginian. (Richmond, Va.) 1910-1920, 1917-01-25
WORK OF
PRODUCE EXCHANGE

| Accomac. Va, Jan. 2s--The eigh.
I teenth annual stockholders meeting
/ OF the Eastern Shore OF Virginia Pro
/ duce Exchange was held on Tuesday
I the 6th inst. at the exchanges gen
era1 office at Onley. Notwithstanding
extremely unfavorable weather condi-
tons, the meeting was largely attend
ed. from which In apparent strong
general interest In the affairs OF the
exchange.
The session was brief, busfn essiike.
and without any unusual feature. save
the Information given in the report
Of Rawlings. HIN and Company, the
conducted the regular annual audit Of
the books of the exchange. of the very
gratifying increase of the business OF
The exchange and it's unpreceientedly
large volume during the year just
closed In 1915 the exchange market
ed for It's members. In round numbers.
a total Of ten thousand carloads, or
TWO million barrels. Of Irish potatoes
and a total OF nearly Ave thousa nd
carloads or one million barrels, Of
sweet potatoes. wit berries. cabbage
and onions enough to bring the grand
total az packages OF produce handled
we'll beyond the three million mark.
The total gr0ss sales of all produce
marketed were $sSs5S34 as; and the
seed potatoes. barrel covers and other
supplies bought by the exchange and
distributed among its members
brought the total business for the
wear 10 q total OF near seven million
dollars. The largest shipping point
was Cape Charles with S2l. III pack
ages and Keller was second with 49,
78s packages.
Fer thu coming year all general Of
fc3als were unanimously reelected as
follows: President, 3, T Gunter: vice
president, John E Nottingham. gen
e~al manager. william A. Burton:
secretary treasurer. a. J. McMath;
genera! inspector, w. B. Pitts. as=,s-
tznt general inspector. o. K Walker.
A fnal matter Of unusual interest
was the auuoun cement concerning the
change's refund" for the current
season. Under the prese ut bylaws OF
the exchange 1t Is provided that d!yi-
bends on the comparatively small
amount os its capital stock shall be
limited 10 ten per cent, and that at
the close Of each year the entire re-
naming net profits OF It's business
OF which one is added to the surplus
and the other is distributed among
all loyal shippers in proportion to
their respective contributions OF pro-
duce The amount 50 to be distrib-
utej among the farmers who have pat
ronized the exchange during 1916 is
S5s.52l.97; and announcement was
made by the secretary that the long
clerical task OF apportioning this
amount among the three or four thou
sand persons entitled to 1t and OF
making UP separate checks for all
such persons would be completed with
ia about one week and that payne nt
would then be immediately made
through the exchanges various local
agents. This refund of nearly fifty
seven thousand dollars. being thir-
teen or fourteen times the amount OF
the dividend paid the exchange s
stockholders. goes to all loyal ship
pers. whether stockholders or not. and
she point ia emphatically made that
he distribution of so large an amount
Of money without reference to the
question of stock ownership striking
iy shows the co cooperative nature OIL
the exchange and proves that st Is
ran 10 benefit the farmers of the East
cru Shore and NOT TO make money ou'
IF Them.