The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1921-04-08
RATIFY THE MARKET PLAN
Continued From Page One.l

that all members of the United States
Grain Growers Inc, must be bona
fide grower of grain. The member,
ship fees is set at $40 with no as
sessments. The corporation propos-
ed j a non proflt, non stock COM
pany with no dividends and to be
operated on cost basis. Expenses
after the membership fee is paid are
to be arrived at by deductions from
the sale Of grain.
If farmers grain is sold on a
commission basis solely, the maxi
mum deduction permitted is one
per cent of the value of the grain,
corresponding to present commission
charges on exchanges it is stated by
members of the Committee of Sew
enteen. On other grain involving
storage and other marketing facili-
ties, the deduction for capital invest
ment shall not exceed one per cent
of the value of the grain. For this
bearing are to be given. Funds SO
acquired are to be used to buy ware
houses, establish crop news gather
ing agencies in various counties, and
other facilities needed. Provision is
also made for establishment of sub
sidiary corporation, including an
export corporation a warehouse cor
poration, corporation to purchase
seats on exchanges, and finance
corporation. .
Secretary Wallace of the United
addressed the delegates today upon
matters pertaining to his department
and the aid being given to farmers in
the settlement OF questions impor-
tant to agriculture. > -
Chicago, April 6.-The ratification
conference on the cooperative grain
marketing plan submitted by the
farmers marketing Committee of
Seventeen assembled here today for
"the most important meeting of
farmers that the history of our coun-
recorded, in the words of G.. H.
Gustafson, chairman of the commit
tee.
Details of the plan prepared dur
ing nearly a year of conferences to
market the majority Of the farm pro-
ducts of the country under the most
favorable price conditions were sub
mitted to representative of the vari-
our farm organizations behind the
proposal.
Chicago. April Qualification of
national cooperative grain marketing
plan xRroposed by the Farmers Grain
Marketing Committee of Seventeen
will be taken up for consideration
here today at conference of farmer
representatives from the twenty five
important grain producing states of
the country.
Delegates to the meeting number
107, all chosen at state meetings held
by the committee in March. Dele
gates were apportioned on the basis
80 f1o oI,,@ Nf IL,
keted in leach state during the past
ten years.
Chairman of the ratification con-
ference will be J. R. Howard, presi-
dent of the American Farm Bureau
Federation, who in July of last year
called a national marketing confer
ence that led to the creation of the
Committee of Seventeen.
Final Report of Committee.
The final report of this committee
will be presented tomorrow by its
chairman. C. H. Gustafson, a Nebras
ka farmer who heads several large
farmers cooperative organizations.
eff the marketing plan and the re-
concentrations of the committee are
accepted by the conference, it will
result in the immediate formation of
farmers national grain marketing
company" Mr.. Gustafson said. 1.-THE
hearty approval with which the plan
was received at the state meetings
indicates that several thousand exist
ing cooperative elevators will at once
affiliate with the national grain mar
keting company, so that it can handle
an appreciable part of the 1921 crop.
although the Committee of Seven
teen is made up of representatives
from many different farmers organ
izations. who had been trying to solve
the farmers marketing problems in
many different ways, every member
of the committee is agreed upon the
proposed PLAN"