River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1921-06-02
s1o0,OOO,OOO Corporation to
Speed Grain Selling Has
Financial Backing.
SUBSIDIARIES PROVIDED
Financial Aid to Agriculturalists In
Period Between Production and
SaIe-Existing Marketing Plan
Is Not Affected.

|, New YOrk--Plans for cooperative
grain marketing, recently outlined by
growers, were advanced by the forma-
ton of the Farmers Finance corpora
ton with capital stock of 100000
900. This announcement, made by the
executive committee of the. United
States Grain Growers, Inc, stated that
Bernard Baruch, one of the financiers
with whom conferences were held will
act in an advisory capacity for the
newly organized body.
Incorporation papers will be filed in
Delaware by Clifford Thorne Of Chi
cago, counsel for the executive com.
mittee of grain growers, whose organ
ization will work in association with
the finance corporation.
To Hasten Grain Movement.
Purposes of the corporation, it was
said, include affording the farmer a
ready market in case of money strin-
gency; Fastening the movement of
grain between the point of origin and
the consumer, and the elimination of
much of the handling of products by
middlemen. The organization does not
seek to wreck the existing marketing
system, it 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. H. Gustafson, Lincoln, Neb.;
j. NJ Anderson, ST. Paul; P. E. DON
nell, Waco; William G. Eckhard, De-
Kalb, H.; C. H. Hyde. Alva, Okla. !;
Frank NJ Meyers, Fort Dodge, Iowa;
r. G.. Obrecht, Topeka, Kansas, and
W. F. Schilling, Mortified, Mimi.
Northwest Men in Role.
! Minnesota farm representatives have
| been prominent in the establishment of
the Farmers Finance corporation,
which is the first step taken by farm
organizations to finance the market
! ing of their own grain, officials OF the
Minnesota Farm Bureau federation
said.
w. F. 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. Mr.. Schilling represented the
Minnesota Farm Bureau federation, J
NJ Anderson of st. Paul, president OF
| the Equity Cooperative Exchange, is
| vice president of the United States
Grain Growers, Inc.
Potter Explains Corporation.
The entire genesis and development
establishment of the $100,000,000 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 r. Howard
the president, to appoint committee
of IL to investigate means of market
i ing grain. This committee recon-
mended that grain growers market.
/ ing agency be established A confer.
ence of the principal grain growers OF
the country was then called for April
/ z in Chicago, at which the United
States Grain Growers, Inc, was found
ed. This organization was designed
/ as 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 grain
| in bonded warehouses, and to accept
warehouse receipts as collateral fol
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 every
case where such action is possible, the
money will at no time be removed from
the local community, where the grain