The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1921-04-01

business p0llcieS OF cne association
Directors will be elected as follows:
4 /. Each local community will elect
one delegate for each 100 members OF
major fraction thereof. These dele.
gates will represent the membership
at an annual meeting 10 be held in
each congressional district.
| 2. The congressional district meet
ing will elect one delegate to the an
nual national meeting. This delegate
will cast one or more votes at the
national meeting, depending either on
the number of members represented
or the amount of surplus grain pro-
duced. or both.
3. The national meeting will elect
the board of directors of the national
sales association.
A Non-Proft, Non-Stock Organization
The sales association will be non
profit, non-capital stock organization.
All money received from the sale of
grain will be returned to the growers
through the local elevator company or
grain growers association, less the
cost Of operation.
The sales association will have the
following departments, and others if
the directors so decide:
l. Research and statistics. II will
be the purpose of this department to
collect in the. most complete and
thorough manner possible, information
about all world conditions affecting
the supply of grain and demand for it.
2. Organization.
8. Publicity.
Subsidiary Companies
The sales association will have au-
thority to establish branch offices, to
organize such subsidiary corporations
as its directors may deem necessary,
and control such subsidiaries through
the ownership or control of the voting
stock or otherwise. The most essen
tial of these subsidiary corporations
are as follows:
l. Warehousing corporation. To,
own or lease terminal and other ele-
vatOrs and the necessary equipment.
2. Export corporation. To handle
grain for export.
8. Finance corporation. This cor
poration will probably not do gen.
eral banking business. The principal
function will be to accept warehouse
receipts, issue its own short notes
against them, and so provide funds to
help finance the whole grain market
ing system.
4. Selling companies. To acquire
seats on grain exchanges. and to dis
pose of grain thereon in the usual
way. Legislation to open these ex-
changes to farmers companies is now
being pushed in several states. with
the backing of the Committee of II.
Practically every feature in the pro-
posed plan has stood the test Of ex-
perience in one or more successful
farmers marketing organizations.
The committee realizes keenly that
there are many problems in grain
that are not found in the
of other commodities. II
realizes just as keenly the value Of
previous cooperative marketing en-
perience, and has crystalized that |
study into a plan which it believes
viii prove more efficient than would
any plan transplanted bodily from
some other section or industry to the |
grain belt Of the United States.
Advantages Of. Committees Plan
Some of the special advantages of |
his plan are as follows:
j. II does not scrap the existing |
system of farmers cooperative ele- |
1ators but makes them an integral |
part Of the grain marketing plan.
2. 1t will not be necessary to Sc
.ure contracts covering a large per-
'entage of the grain of the United |
States before the sales association |
an begin to operate.
3. Grain can be handled at first |
With almost no change in present |
While the greatest results
Win not come until later, when
nrge portion of the grain is under
he direction of the, national sales
Igency, the immediate benefits will
'e great Farmers viii be on the i'm
ide Of the grain marketing system,
instead of outside. They will be able
o make their, influence felt at once
p minimizing and finally eliminating
he unfair practices which work SO
realty to their disadvantage. BY di-
Getting grain, movement over the !.
hortest and cheapest routes a ire
1endous saving in freight and other
andling charges can be- made.
4. A way is provided for the de-
elopment of grain pooling as rapid
Y as this is found to be desirable,
ithout stalking the success of the I,
iovement on rigid pooling plan
ithout other alternatives. 4
4. Financial difficulties are guard
d against by the provisions for a
trongly financed, farmer-owned
nance corporation. II
9. The success Of the plan is not I
ependent on special or class legisla-
on. Ii