Morris tribune., 1919-03-28

Here editorials on the marketing and distr-
button problem interest to every student
problem an implied endorsement
of the Cooperative Packing House, in which not
fully prepared concur entirely contradictory
reports come us concerning this Considered
together however, the editorials most valuable
THE FAILURE OF THE OTTER TAIL co. CO.
OPERATIVE co.
(By H. E. Boon in the Wadena Pioneer Journal)
Judgments against stockholders in the Otter Tail
County Cooperative Company, which failed time
ago. still being taken in the district court here
the firm Of Wyman, Partridge Co., of the heaviest
creditors of the company has just filed claim for
$3,5660O in the probate court against the estate of
O. Italian, whose home in this vicinity who
one O directors company.
When the company needed credit it's directors
signed notes and Wyman, Partridge & Co. hold these
notes to the extent Of the amount just named While
there signatures each note it that
under the law the holder of select any of
them and make collection from him if he is financially
responsible this being estate in process of dis
trbution, it has occurred to them that it would be
easy matter the collection from it, If collection
is made from signer of note, the law allows him
to collect from the other signers if they too nan
ally responsible. claim against Haan estate
pending in court and has not yet been allowed. The
estate amounts to something like $4,000.
The above item, taken from the Fergus Falls
Daily Journal, records of the closing chapters in
what heralded the greatest cooperative
idea of the times. have had little personal
experience with the defunct company and in view of
the fact that the idea is gaining ground in
this section of the state review of what happened to
the Otter Tail county people who enthusiastically
tered into the scheme be of interest to the readers
of the Pioneer Journal.
About twelve years ago the Right Relationship
League (another brilliant idea conceived and put into
practice by get-rich-quick Wallngford) headed
by few individuals who were hard for cash, sue
ceeded interesting a large number of the farmers
around Fergus Falls in the cooperative store idea
them being my father and two three of uncles.
Among other towns in the county they established their
in Fergus Falls Wall Lake and Underwood, three
towns familiar to those who have travelled along the
Fergus Falls branch of the N p In establishing these
stores they bought out places of business already in
existence.
For time the business fourished as usually the
case until it began to dawn the patrons that they
paid just much the goods they bought.
The enthusiasm began to the board of directors
began retrench, thus sealing the fate of the store
so it's continuation in business concerned
fourshing establishments took less pros
hasty change of managers made
the failure continued until the creditors stepped in
closed it up.
When we came to probate fathers estate two years
Fergus Falls store failed he last of the
string of several throughout the county, we found among
things 500 share in that store. We proceeded
Immediately to get rid of it and during the prelminaries
took the share down to the of the store for
the of selling back to the as provided
for in the bylaws, which stated that in the event of
the of stockholder his share should be bought
back at par value. I Informed however, that that
section had been repealed but that they would be glad
to take the share and sell it for This refused to
do and in short time it sold to party in Under
wood for something $12 just about oneeighth of
its par value.
or two later the store failed and each stock
holder assessed twice his to
the deficit. Now comes the creditors claims against
the directors for the amounts of their notes signed in be-
half of the store.
have worked in towns of various sizes in this
state and North Dakota never yet have seen a CO.
operative store fulfill its avowed purposethat of furn
fishing commodities to the cheaper than the regular
retail merchant Worse than that very few have ever
of the venture and finally were forced to
close their doors.
It is announced that 70 per cent all live stock
shipped into South ST. Paul yards last year was
ciotio rTLoo