Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1921-06-02
$780, 00,0 600 Corporation h
Speed Grain SsAins Has
Financial backinQ.
SUBSIDIARIES PROVIDED
Financial Aid % Aosieslturalssts n
Period Between Prediction end
esle-Existins Marketing Plan
10 Not Affected.

New York Plans for cooperative
grain marketing. recently outlined BY
growers. we're advanced by the formA-
tion OF the Farmers Finance corpora
iion with = capital stock Of $1,000
600. This announcement. made by the
executive committee Of the United
States Grain Growers. Inc. stated that
Bernard Baruch. one Of the hnanciers
with whom conferences we're held with
oct In an advisory capacity TOR the
newly organized body.
Incorporation papers will be fled In
Delaware by CLIFFORD Thorne Of CHI
cago. counsel for the executive COM
mittee Of grain growers. whose organ
txation will work In association with
the finance corporation.
To Hasten Grain Movement
Purposes Of the corporation. It was
said. include ARording the farmer =
ready market in case Of money strin-
gency: Fastening the movement Of
grain between the point OF origin aud
the consumer. and the elimination Of
much of the handling Of products BY
middlemen. The organisation does not
seek to wreck the existing marketing
system. II was stated.
The marketing body Is an offspring
Of committees of the American Farm
bureau. government committees and
other farm organization which held a
series of conferences during the last
few months.
Members OF the grain growers execu.
tive committee present at conference
were c. n. Oustafson. Lincoln. Neh. /:
J. NJ. Anderson. 81 Paul; r. q. Don.
nell. Waco: William q. Eckhard. DE.
Kalb. H.; c. II. Hyde. Alva. Okla. !;
Frank M. Meyers. Fort Dodge. Iowa j:
X. G. Obrecht, Topeka. Kansas. and
w. r. Schilling. Mortified. MINI.
Northwest Men In Role.
Minnesota farm representatives have
been prominent In the establishment Of
the Farmers Finance corporation,
which 10 the tirst step taken by farm
organizations TO finance the market.
Ing OF their own Nrain. officials Of the
Minnesota Farm Bureau federation
said.
w. r. Schilling OF Mortified was
chairman OF the finance committee Of
the United States Grain Growers, Inc,
which co-operated with Bernard Bar.
UGH. In establishing the finance corpo
ration. MIR. Schilling represented the
Minnesota Farm Bureau federation, J.
NJ. Anderson OF St. Paul. president oi
the Equity Cooperative Exchange. ID
vice president Of the United States
Grain Growers. Inc.
Potter Explains Cooperation.
The entire genesis and development
Of the movement which resulted In the
establishment OF the 500. 900 900 cor
poration was explained by l.. e. Pot
ter. president OF the Minnesota Farm
Bureau federation.
About eight months ago. he said. the
federation called . conference In Chi
cago and authorized James II. Howard
the president, to appoint q committee
Of II to investigate means Of market
ing grain. This committee recon-
mended that grain growers market
ing agency be established. A confer
ence Of the principal grain growers oil
the country was then called for April
tn Chicago. at which the United
States Grain Growers. Inc. was found
ed. This organization was designed
a. q sales agency for cooperative ele
vators. OF which there are 200 In Min
nesota.
Plan Of Procedure.
The plan Of the corporation. accord
ing to local officials. is to store grair
in bonded warehouses. and to accep
warehouse receipts as collateral To-
loans from the corporation The cor
poration then plans to issue debentures
and bill them on the public market
selling them principally to other far
mers and to country banks. In ever.
case where such action Ii possible, til,
money will at no time be removed from
the local community. where the graiI
has been grown.
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