Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1920-12-07
FARMERS UNION BIG SELLER.
Butter and Eggs Sales Amount to
100000 In Chicago.
BY Associated Press.

BY Associated Press.
Chicago, Dec. Farmers co-opera-
tive sales of butter and eggs in Chi
cago this year thru the Farmers
Equity Union amounted to 100000,
P. l.. Belts. national vice president OF
the union and manager of its Chicago
agency, reports. He said that the or
ganization was getting ready to han
die poultry here.
The Farmers Equity Union. Mr.
| Belts said, is one, Of the largest
farmers operative organizations
in this country Its greatest business
Is In grain. and he estimated the
amount OF grain handled this year at
| upwards OF $15o.oo0.0oo. The union is
composed Of some $50 local eXchang-
es. Their aggregate paid up capital
stock Mr.. Belts places at around f3,-
100000. He said that savings returned
to- farmers ran into the millions.
The union also serves farmers as
| cooperative purchasing agency. It's
Chicago head said that purchases
made thru It amount to several mil
lions Of dollars annually. It's Denver
company, he said, own two coal
| mines, from which coal Is shipped to
formers CO. operative elevators to
ssll TO the farmers. In territory west
OF the Missouri.
Touching on other matters relating
| to the union, Mr.. Belts said:
The Farmers Equity Union Is now
organised in fourteen states, from
Colorado to Ohio and from North
Dakota to Texas. with a membership
of around TX am farp,ara
TN form II is not a national cor
poration with branches but It is made
up OF individual companies which
work together. It's backbone is the
farmers grain elevator. There are
more than 800 Of these.
Dividends are limited to 3 to Z
per cent on the stock. regardless of
the amount Of profit, and are paid to
oil stockholders. Tho surplus over
the fixed dividend is divided pro-rata
to members according to the amount
OF business they have furnished.
This 10 what makes the equity q
purely cooperative institution. Ex-
changes are organized unfer The CO.
operative law Of the state they are IN.
II there 10 sucl, a law, II cot under
the usual corporation act
I'VE have three purchasing agen-
cies located In Chicago. in Lima. O.,
and at Denver. Col. We have q seat
CT the Buffalo and Kansas City grain
exchanges and In Chicago member
ship in tho mercantile exchange.
which Is the Chicago butter and egg
board. Our grain houses receive grain
in car lots and sell "a q comm ission
firm.
ITO return to our purchasing work,
We buy direct from the factory. We
have a contract with the third larg-
est binder twine factory il the
country for, several million pounds
annually. another with large fierce
factory. and we buy lumber direct
from western mills. We handle fa rm
machinery AMI other staples that
farmers purchase thru elevators
I'VE have cooperative creameries
at Aberdeen. 8. D.. Orleans Neb., LII
mon, Col, and Liberal. Kan. Our
members are organizing another at
East st. Louis, Ill.,, and are getting
ready to start organization of fifth
at Fort Wayne, Ind. The Aberdeen
creamery is ono Of the f1nest in the
country. costing $4,000. It's savings
In four years, after cost G oneration
and setting aside q substantial part Of
the net earnings In accordance with
the South Dakota cooperative COM
pany law. have amounted to s104 ,00l."
The Farmers Equity Union has no
political aspect. according to Mr..
Belts. we advocate no change in the
system of society," he said. 1--WE are
capitalistic. We merely advocate the
ownership by the farmer Of part Of
the means Of distribution"
National headquarters are at
Greenville. Ill, which is the home OF
the unions national president and
founder c. o. Dryton. Local ex-
changes and agencies run under no
uniform name. That of the Chica go
house is the Chicago Equity Union
Exchange.