Morris tribune., 1921-04-01
MARKETING PROJECT
PLANNED BY FARMERS
r. w. Keeler of Stevens Township
Attends Meeting of Delegates
From ALI County Bureaus


Paul on March %. The purpose was
to near the final report of the COM
mittee of II on the grain market
ing problem and to elect six dele
gates to the meeting to be held in
Chicago April 6. Two hundred dele
gates were gathered together at the
meeting.
The plan is to sell one fourth of
the grain every three months if there
is enough to supply the demand; if
there is more than enough the plan is
to warehouse until there is a demand
for it, The committee has the prom
ise of the large consumers of wheat
and other grains that as soon as the
marketing corporation is in posi-
tion to do so that they will enter in
to yearly contracts for certain
amounts of their needs to be de-
1ivered monthly.
''It will no longer be necessary to
hunt for markets, enlarged markets
will be found as the Steel Corpora
tion finds them by going after them, !"
said Mr.. Keeler.
The first part of the day was given
over to the explanation of the work
projected by the committee. There
will be a parent company organized
which will accrue no profit and will
be organized without capital stock.
There will be 1O7 delegates to the
Chicago Convention which will elect
a temporary board of directors to have
charge of the organization until the
permanent membership is secured.
The membership of this company
will be charged an initial fee of $40
which will be used to put the organ
ization on it's feet. This parent COM
pany will organize the subsidiary
companies to actually handle the
business. One company will be a
selling organization which will cor
respond to the present commission
companies, another warehousing cor
poration which will provide terminal
facilities, probably by lease as there
always is great amount of storage
not used in Chicago. At ports of ex-
port it may be necessary to build
next a financial corporation to pro-
vide the necessary funds to handle
the crops. 1t will be incorporated for
800, 100000, but will commence
business when small amount is
paid in. It is hoped that the pro-
ducers will largely subscribe to the
capital stock of this organization,
but if they do not they have the
promise of almost unlimited capital
from financial men.
Then there will be an export cor
poration and maybe number OF
others as the need arises.
These subsidiaries will issue
preferred and common stock
The preferred will carry a
fixed income and the com
mon will carry the voting power
and will be held by the parent cor
poration and voted by it. In that
way the control will come directly
back to the local members because
they are the ones that will elect the
directors of the parent company
A campaign will soon be put on
to secure members and at the same
time secure capital for the finance
corporation. The whole country can.
not be covered this spring but lot
of work will be done and it is the
hope of many that the plan will be
gin to function in July.
According to the committee a mum
Der of the big grain handlers agree
, that the plan is feasable if the mer
: have the brains to handle the bust
ness.
"There to me is no question OF
bra1ns," said Mr.. Keeler. 'The only
question is, will you and I stand be-
hind the plan and push?'
Any profits made by the subsidar,
companies will be paid to the paren1
corporation and by them prorateC
back to the producer. 1t is expected
that they will only handle the grain
for actual members. Such being thu
case where there are limited mum
Der of members at local point the!
will have to hire their grain loaded
by local elevator or else rent one
Members will be required to sigr
contract to sell all their surplus
grain through this company anC
when they want to sell otherwise al
to their neighbors or for seed or tt
local mill that does not ship grair
they will be- given permit to do so
The contracts will be so drawn tha
they will be enforceable and they will
be enforced.
OF the six delegates to Chicago
two were direct representatives O.
the Farm Bureau, one each from tn,
Equity Exchange, American Societ!
of Equity. The Grange, and Th'
Grain Dealers Association. The Grai1