Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1919-10-07
AMONG THE FARMERS,
i" SPEED THE PLow."

Correspondence on practical Agricultural topic
is solicited. Address all communications In
tended for this department TO H1NHI u
HAMMOND. Agricultural Editor Oxford Dem
ocrat. Paris. Ne.
Milk Producers Buy Big System.
PLANS BY WHICH THE N. e. N. P. A
TAKES OVER MARKETING PROJECT.
(New England Homestead)
A year and half ago the New Eng
land Milk Producers Association ap
pointed committee on cooperative mar
keting, consisting of q. w. Tinkham oi
Rhode Island, Mark q. Moody of Yer
mont and Walter B. Farmer of New
Hampshire. Secretary Richard Pattet
was instructed to cooperate and worh
with the Committee. At the last aunua
meeting, February %, the committee
made report discussing the situation
with respect to marketing dairy and
other farm products, reoiting certain
facts and proposals, but made no posi-.
tive recommendations By vote Of the
association, the committee was con
tinued and the directors empowered to
establish or purchase a marketing sys'
tenn to handle the products of the mem
bers of the N. e. N. P. A.
Acting upon q proposition received
from e. L. Bradford of the Turner Cen
| ter dairying association, q committee
consisting of Messrs. Adams McIntire,
Moody, Tinkham and Psttee took an
option on q majority of the stock in the
Turner Center association, at the price
placed on that stock by the United States
authorities for the purpose OF taxation.
This price would represent an invest
ment of $770, 900 for the whole property.
This option expires October /, 1919.
The committee at once employed S.
q. Howes, for nearly 80 years manager
of the Deerfoot Farms Milk Company,
to appraise the physical property of the
Turner Center Association and Robert
Douglass and company, firm of certi'
fed public accountants, to examine its
books and accounts. The reports Of
these gentlemen showed the Turner
Center property to be an exceptionally
good investment at the price quoted for
its stock. This report induced the mar
ket committee to attempt the formula
tion of plan for acquiring the Turner
Center Association as the nucleus Of
the system 1t should propose for all New
England. In It's effort to devise safe,
businesslike and workable cooperative
marketing system, the committee studied
operations In other markets, In this and
foreign countries and consulted every
known course of information. State and
federal authorities were consulted and
the United States department. CO. operated
freely, through it's bureau of markets,
sending representatives to consult with
the committee on numerous occasions.
The plan now proposed has the sanction
and approval of the authorities con-
suited.
The committee had as it's problem: {:
First, To devise plan for acquiring the
Turner Center Dairying Association.
Second, Its reorganization upon q CO.
operative basis capable of expansion.
It's plan must not only place the owner
ship of the market facilities in the pro-
ducers but must keep 1t there. In JUS
tice to the rest Of New England as we'll
as to Turner Center patrons, the money
to buy that concern must be raised by
such patrons. Those whose products
were handled should own the concern
which handled them and other producers
should not be drawn on for capital ex.
cept to provide for the extension of the
system to handle their products.
v,lor IN hnrrnD ho nrroho nm ON
from banks was abandoned when the
stock holders Of Turner Center consented
to pledge the sale of the stock on q par
tial payment plan. The committee
found that the capitalization needed for
successful dairy marketing corporations
represented approximately $40 per cow.
The purchase price OF Turner Center
calls for slightly more than $S2 per COW,
due to the nature of its business, largely
wholesale, and its exceptionally efficient
business practices.
CREATE A TRUST FUND.
The plan of the committee calls for
the establishment of trust fund to
acquire the stock of the Turner Center
Association. This trust fund will be
administered by a board of trustees,
selected by the option holders and will
include some of the best known agricul-
tural leaders of New England.
These trustees will serve for five years
unless they sooner accomplish their job
of acquiring, reorgauiziDg and extending
the Turner Center facilities, or are dis
charged. They, as trustees, are entirely
a separate and distinct organization from
the N. e. NJ. P. A. They cannot be
legally bound to 1t or It to them, each as
any part of the other. They will simply
use the trust funds to purchase stock in
the Turner Center Association, q Maine
corporation. To raise the amount re-
auired, each Turner Center patron will
be asked to pay in the form of cash or
negotiable note $40 per cow. Subscrip-
tlons to the trust fund may be received
from others. Each patron will also
pledge per cent of his monthly milk
check to the trust funds. For each $40
contributed to the fund share will be
issued bearing 6 per cent interest.
The account 80 raised will be used to
purchase stock in the Turner Center
Association. The trustees will thus
gradually acquire the majority stock in
terest and be able to reorgsnize that con.
Germ on cooperative basis. The per
cent contributed from milk checks will,
in FIVE years, enable the trustees to
acquire oil the Turner Center stock and
pay back the first contribution of $40
per COW. This being done, it appears
that each producer will have contributed
to the trust fund q percentage of his
business and will own In that fund OK.
actly according to his patronage. The
fund being invested in Turner Center
stock, the producers will, through trust
ees, own that stock upon the basis of
business done through the concern.
The trustees will then reorganize the
Turner Center corporation and issue
stock therein to the shafeholders In the
trust fund, each according to his oontri.
button.
THE TURNER CENTER SYSTEM.
The trust will be called "The Turner
Center System" thus preserving valus-
BILE trade name. The revised corpora.
tion will bear the same name and will
provide for the following: 1. Each
stockholder' will have one vote. 3.
There will be no proxy voting. 8. The
receipts for products sold will be dis.
tributed, ~ to pay the expense of oper'
alton, maintenance and administration
l(o) to provide for reasonable depreoia
tion of physical property, icy to provide
sinking fund for the retirement of any
.l.,,n. doht. ind0naut. or othnr an, ~