The Washburn leader. [volume] (Washburn, McLean County, N.D.) 1890-1986, 1921-04-08
Action Approving Committee Of Sew
erteen's Findings May. Mean End
Of Wheat PooEFarmers to
Form Gigantic Finance
if3,e and Export Cor. ~.'
In. w. poratton

'.
Fs.a pe...ee' m -. ... !.
~ :. : !. 5S sBy ROBERT FULLER II;
Written specially for the Leader
!, Chicago, April 6-The wheat spec
ulator and unnecessary middleman
were hit hard by the American Farm
Bureau. Federation when. it adopted
the grain marketing plan Of the
Farmers Grain Committe Of Seven
teen" the result. of more than one
years study. :.
It was shown by Chairman c.. H.
Gustafson, Of Lincoln, Neb., that deal
ings in. wheat on .Chicago's Board of
Trade alone are equal to three times
the entire worlds wheat crop. Spec
ulative trading is fifty-one times
greater than the actual cash sales.
What this means to the producers
price may be imagined. .-
" The plan adopted calls for the
formation at oHce of q National
Grain Growers Co-Operativet Sales
Agency owned by; farmers who will
employ their own grain marketing
experts. This institution is to be
capitalized at s1oo,ooo,ooo. Bernard
M. Baruch and Herbert Hoover both
think we'll OF, this plan. ssr.
Z 1t Is proposed to incorporate the
National Sales Agency as a non-stock,
non-profit, grain owners cooperative
membership organization which will
provide market for grain by virtue
of contracts with local growers CO.
operative associations or with farmer
owned, cooperative grain elevators.
Each wheat grower In any state may
take membership in the National Sales
Agency, after which he will make a
contract with the local grain growers
association to deliver all the wheat
NE produces either on-a contract basis
or as part of wheat pool. The local
elevator or grain producers associa-
rtons will contract with the National
Sales Agency to handle the farmers
grain. ,... ;.;}4.. ,..: -. 70.
i, : viii Control Terminals
The National Sales Agency is to
control, through ownership of the vot-
ing stock: the; terminal agencies
through which the wheat or corn will
reach. market. There will be branch
offices In, all grain centers to handle
the grain for each grain district.
Where. possible existing farmers CO.
operative machinery will be used.
Three distinct corporations are to
he created: ~ warehouse corpora
tion, to. acquire warehouse facilities
through lease, purchase or erection
and operate through government Ii
censed channels: (2) finance cor-
poration to provide the necessary
4 credit facilities and to be farmer
controlled, whereby country elevators
may properly finance the moving crop
in orderly fashion; (s) an export corr
poration. controlled by farmers to
market American grain abroad. The
finance corporation is intended to sup
plement existing financial machinery.
How Agency will Function IS.
Membership subscriptions Of the
grain growers viii provide the Nation.
Sales Agency with the initial working
capital necessary to acquire facilities
FOR Immediate handling Of grain pro-
fsluced Later the expenses of doing
business Will be secured by assessing
= handling charge on the grain mar g \,
keted through the National Sales
agency. ..s " ,s.5f q afl
Ss; n. Existing farmers'=. cooperative ssele:
vator companies. composed Of grower.
members am ganiaed ons patron,
ase basis, are sto be asked gto contract
with tilss National Sales Agency for
1 lie sale Of grain OF their members.
The grower; Will always IhaYe option,
!: ~ to the method Sof disposing ,of his
grain. He may consigns his grain to
4 the local cotopr operative elevator for
4exclusiye sale. through the National
Sales Agency, or he may vote Ito pool
for sale though the Agency The.
spption method, It Il thought will
prove the acid test for he pooling
system for grain and 1t will be up to- 4
Il the farmers to decide.
LUTHERAN CHURCH MOTTO cEs
s,
English ser yices at the school; n house, =
next Sunday evening At clock