The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1921-09-08
GOPHER BUREAU
LIVESTOCK PLAN
BEING. OPPOSED
Equity Cooperative Members Oh
iect to Farm Bureau Com
mission Organization
GROWERS FIND OPPOSITION
Refusal of Permission to Sell
Stock Brings New Problem
to United Grain Growers

The Minnesota Farm Bureau has
begun attempts to create new live
stock commission firm and to enlist
North Dakota stockmen in the new
society, according to announcement in
Fargo. The new organization is
known as the Minnesota Central
Livestock Commission, an Organiza-
tion said to have been formed under
the auspices of the Minnesota Farm
Bureau federation. 1t has sent or
ganizers into the state and is seek
ing to sign members at membership
fee of $25 and TO sell stock at $25 per
share, according to the Fargo an
nouncement.
The effort has aroused the man
agement Of the Equity society, which
operates the Equity Exchange with
headquarters in St. Paul. The Min
nesOta Farm Bureau is said to have
had difficulties with the Equity Soci-
ETY. in developing it's marketing pro-
gram, and Equity officials now assert
that the creation. of another cooper
ative commission firm can only re-
suit in a split in the cooperative ex-
change business
Grain Growers Active.
The organization work of the Unit
ed Grain Growers Inc, the co-opera-
tive marketing plan Of the American
Farm Bureau, is proceeding in North
Dakota under the leadership Of U. l..
Burdick. Claims are made that the
Grain Growers have succeeded bet
ter in North Dakota than in any other
state. However, the Wheat Growers
organization, under George Duis, OF
Grand Forks, has not let down in its
opposition to the Grain Growers plan
in North Dakota. There appears no
prospect of the fight between the two
organizations abating.
The Grain Growers national Organi-
- zation is having difficulty in launch
ing its Farmers Finance Corporation,
evolved to meet financing problems
of the wheat pool plan. Several states
have refused permission to the cor
poration to sell stock. Last week
the Blue Sky commission Of North
Dakota, on divided vote, granted
permission to the organization to sell
100000 worth Of stock The Mime
sofa Securities commission refused to
grant permission to operate in Minnie
sofa.
View Of N. ID. Board.
The main objection raised to ths
. corporation, which is 100000, 900
corporation, is that it provides that
all the power of the corporation shall
be lodged in 81 holders of common
stock, Of no par value, while holders
OF $10OOO0,000 worth of preferred
stock would have no voice in the or
ganization. The North Dakota board
majority held that concentration OF
power in such an organization is nee
essary to its success.
An account of the action of the
Minnesota securities commission in
refusing to permit the sale Of $780,
900 preferred stock, follows:
The Minnesota Farm Bureau fedora
ton has known for several weeks that
operation of the Farmers Finance cor
poration on a national scale was vir-
tually impossible and active steps al
ready are being taken to provide suit
able agricultural credit facilities for
Minnesota farmers by means Of a
state cooperative finance corporation
L. E. Potter, president of the state
federation said today.
Farm Bureau Action Promised.
1.-THE plan worked ou: by the com.
mittee of II is absolutely sound said
Mr.. Potter The Farm Bureau FEEDER
alton financed the investigation of the
committee Of II and is determined
that the national grain marketing plar
drawn up by the committee shall be
put into effect in the grain producing
states on sound, practical basis al
the first possible moment. \
The. Farm Bureau federation does
not intend to ask the farmers of the
state to invest thir money in any CO.
operative marketing project unit
every detail is worked out so that the
plan as a whole shall have a fail
chance of success.
"To provide necessary credit for thu
marketing of farm products in Mime
sofa, the state farm bureau federation
has organized a joint committee O
bankers and farmers. This committe;
will meet in st. Paul Friday to con
slider the establishment Of co-opera
tive farm credit corporation under ex
listing Minnesota laws. The farm bu
reau federations of several other grail
producing states are taking simila
action.
1.-THE United States Grain Growers
incorporated, is Business organlZa
tion, established by the various far
mers' organizations interested in grail
marketing. If for any reason it i
found impossible to put the Unite
States Grain Growers, incorporated
into successful operation, the stat
and national farm bureau federation
will take whatever steps are neces
sary to provide cooperative marke,
ing system for grain producers, SIM
lar to the marketing organizations a,
ready provided through the Minnesot
Farm Bureau federation for livestoc
and dairy products
Causes Of Ruling Given.
Evidence before the commission {
the hearing Aug. 10 showed that til
Farmers Finance corporation had il
sued its 81 shares of mo par value
stock to the United States Grain Grov
ers, Incorporated, and had sold l:
shares of preferred stock for cas
realizing total of $15,s0e. Z.
Continued on page 6)