The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1921-04-01
SENTIMENT FAVORS
ESTABLISHING COOP
ELEVATOR IN BOSTON

BOSTON Ind. April IA sentiment
strongly in favor of the establishment.
of a cooperative elevator company in
Boston. was manifested at a meeting
held in the schoolhouse Thursday eve
ming.
The meeting had been called by
stockholders of the stock company
which owns the present elevator, in
accordance with the desires of pat
rons. both members and non-members
OF the company, for a change of man
agement; and for the purpose of crys.
tallizing plans and learning the meth
cd of procedure for organizing a co.
operative company For this purpose.
r. q. McCullum had been secured to
ADDRESS the meeting. He is the or
ganlzer of many successful co-opera-
tive elevators throughout the state
and an authority on the subject
McCullom explained in detail the
new marketing plan recommended b.
the committee of II. and showed how
IT rested upon the cooperative eleva-
Tor, and that membership in such an
| dlvldual farmer to participation in
the benefits. Thus, the speaker stat
ed, the local desire for cooperative
elevator is in line with the national
plan.
Explains Details.
| He went on to explain in detail the
plan or organization of a co-opera-
tive elevator, which provides for
enough of the profits of operation to
be retained TO pay fair rate of in
terest, depreciation and insurance, at.
ter which all excess profits are refund.
ed TO those who have done business
with the elevator, and from whose
business the profit was made A re
serve against unfavorable years is
provided by leaving these patronage
refunds in the hands of the company.
carrying them on the books as a credit
to the patron, and drawing the local
rate of interest until the reserve
reaches a safe figure, after which all
excess profits may be refunded in
cash.
You can't lose in a cooperative
| elevator" was one statement. IF the
elevator loses money, it is because it
pays you too much for your grain and
charges you too little for supplies. or
If it makes money and comes out with
a profit on the business it has done
for you. that profit will be paid back
to you"
Must Do Our Work.
You must do your own business if
you want it done right Do not leave
it to servants and expect them to take
the same interest as you do. That is
the strength of the new plan. that all
| control and ownership is kept in the
hands of the grain growers until it
final disposition to the consumer"
At the end of the meeting several
pertinent questions were asked of the
speaker. One in particular referred
to the possibility of the three elevators
which are owned by the Farmers Ma
tional Grain association, being operat-
ed by one manager. This. McCuliom
said, was possible provided an agree
ment could be made between the three
cooperative associations which would
be located at each station. and would
: be an economical plan as allowing
fuller use of one good manager where
three might be necessary otherwise,
the saving in numbers allowing a more
skilful manager to be hired. However
McCullom emphasized the fact that
there should be three separate asso-
Citations organized around the respeC
; tive marketing Centers with Separat !
business and accounts. the only thing
in common being the dictation by tn
manager of policies and of margins for
, handling grain.
Although no definite action was TAX
en-, sentiment at the end of the meet
ing seemed to be in favor of forming
I cooperative association to buy oul
n the interests of the Farmers National
Grain association in the Boston ele-
: vator. the price being fixed to equal
a a physical valuation determined by a
2 commission representing both buyer
and seller, plus the market value of
the invoice at the time of sale.
j Stock at Par
), we will be willing to accept stock
8 of the Farmers National Grain asso-
= citation at par if offered by the CO.
operative association in payment for
S our properties. said Mr. Edwin Price.
,, treasurer of the association referred
$ to. Friday morning
4 The Farmers National Grain a.
ISOLATION will be willing to sell on a
basis of present value. and will vel
come an investigation and appraisal.
The appraiser of the farmers asso-
4 citation is being sent down to look over
the properties and make a valuation
q for comparison with our valuation.
q This will be done within few days
. The fact that old stock would b.
;. accepted at par in payment for the
f elevators was regarded as quite fair
:. by many interested. as was also the
4 proposal to sell on a basis OF present
n physical valuation. which both seller
and prospective buyers state to be a
satisfactory solution.