The Wisconsin tobacco reporter. (Edgerton, Wis.) 1877-1950, 1922-10-06
NOTE BOOK SKETCHES
POOL CONTRACT.


| Tobacco Pool contract is printed below
as matter of record and for the in
formation of those of The Reporter
readers who are not familiar with its
contents:
CONTRACT OF PURCHASE AND SALE.
The following agreement is hereby
made this -. day of ......, 1872. ), at
i. =, Wisconsin, between the North
| ern Wisconsin Cooperative Tobacco
Pool, cooperative association, (here-
matter called the association" and
s..., tobacco grower Hereinafter
called the grower J, the promises OF
each party being in consideration of
the promises of the other.
| The parties agree that the contract
shall be in effect from the time that
growers of rs per cent of the tobacco
produced in Wisconsin in 1920 sign SIM
Iilar contracts until June l, 1927, and
that it shall continue thereafter from
year to year; subject to the right of
either party to terminate liability on
June 1st of any year following 1926 by
giving notice to the other party at least
| thirty days before the expiration of
such year.
/ The association agrees that it will
notify the grower as soon as growers
of the required acreage, as above stip-
| ulated, have signed similar contracts.
/ The parties further agree, however,
| that this contract shall not affect the
1922 crop unless-by June 80, 1922
| growers of the required acreage, as
stipulated above, have signed similar
contracts.
/ The grower agrees that he will sell
| to the association all the tobacco pro-
duced by or for him; that he will pro-
duce and prepare such tobacco for ship
/ ment in accordance with the lawful
rules and reg ulations of the association
and that he will deliver such tobacco at
the time and place and in the manner
directed by the association.
The grower agrees that, in the event
that he violates this contract, he will
pay to the association the sum of five
Icents per pound for each pound of to-
lbacco produced but not delivered by
him according to the provisions herein;
and that said sum may be deducted
from any money due from the associa-
tion to the grower
| The grower agrees that, in the event
of breach or threatened breach by
him of any provision of this contract.
7 the association shall be entitled to an,
injunction to prevent breach or further
breach hereof and to decree for spe-
cifc performance hereof, inasmuch as
the parties understand that this is a
contract for the purchase and sale OF
ipersonal property under special circum
stances and conditions and that the as
sociation can not go upon the open
market and buy tobacco to replace any
1 ;1Io fol to- 6ntJ
The association agrees that it will
buy all the tobacco produced by or for
the grower, and that the purchase price
| which it will pay for the tobacco shall
be the average price which it receives
lupon resale minus a uniform charge to
approximately cover the expense OF
marketing; average price to be based
upon the associations total receipts
from the sale of tobacco Of the years
crop which is of the same type and
quality; the uniform charge to be de-.
termined in amount by the board of di-
rectors of the association but not to
exceed one cent per pound.
/ The parties agree that, in the discre-
tion of the board of directors of the as
sociation, the method of paying the
purchase price may be to advance
within a reasonable time after delivery
to the association-an amount to be de-
termined by such board of directors and
to pay the remainder, if any, of the
purchase price, when the tobacco of
the years crop, which is of the same
type and quality, is entirely re-sold.
The parties agree that, in the discre-
| tion of the board of directors of the as
soclation, an amount not to exceed one
half cent per pound may be retained
out of the purchase price for the pur-
pose of providing a fund for the asso-
citation and that for this amount the
association shall issue to the grower its
certificate of indebtedness, bearing in
terest at the legal rate. This fund
shall be used to retire loans, to make
permanent improvements, to purchase
equipment, and to provide working
capital.
mentS contained in this contract shall
not affect the right of the grower to
retain tobacco for his personal use
| The parties agree that either party
shall have the right to withdraw from
and to cancel his signature to this con-
tract, if-by June l, 1923 3-signatures
of tobacco growers, covering at least
Is per cent of the production of tobacco
in Wisconsin in 1920, shall not have been
secured to this contract. The associa-
tion agrees that it will notify the grow
er in writing before May 15. 1923, if
said number af signatures has not been
secured. The association further agrees,
that it will notify the grower in writ
| ing between May /, 1928, and May Is,
1923, if it desires to withdraw from and
cancel its signature to this contract in
accordance with this provision. The
grower agrees that be will notify the
| association in writing between May Is,
1928, and June /, 1923. if he desires to
withdraw from and cancel bis signature
to this contract in accordance with this
| provision.
Northern Wisconsin Cooperative
| Tobacco Pool.
~ -. -. -.
President.
............
Grower. i
- s