The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1922-07-06
ABOUT THE GRAIN GROWERS

500 members of the U. S. Grain
Growers, Inc, in Wayne county, who
have paid between $4,000 and $4,000
into the treasury of that corporation,
we are of the opinion that today's
space in this department can be profit
ent status of the Gram Growers. And
not only are the members interested,
but also are all members of the farm
bureau and every man who is in favor
of cooperative selling.
A sensible, concise statement OF the
facts, will tend to clear the air of the
uncertainty which pervades farm bu-
reau quarters, not only in Wayne but
in all parts OF the country. This can
best be done by printing the report
of the investigating committee, made
during the last week in June, and
now to hand, as published in the
American Farm Bureaus Weekly
News Letter. The American Farm
Bureau and the U. S. Grain Growers
are two parts of the same whole, the
big men in the farm bureau being the
inceptive and still guiding force of
the latter enterprise. That state
ment cannot be questioned. 1t is
taken for granted, then, that the
printed report of the American Farm
Bureau, sent to the newspapers, state
farm bureau officials and to county
agents, is the unvarnished truth,
officially promulgated.
Have Over 81 900 Members.
At our latest advices, direct from
the Grain Growers, the membership
exceeded $1,000 At fee of SO per
member, this indicated cash income
in excess Of 100000 The investi-
eating committee found that about
$4,000 of this sum was in notes
mostly, with a number of post-dated
checks for $40, all OF which are still
outstanding. The cash assets are
S35 900 in the reserve fund. How
great a number of the notes and
checks for SO will be collected de-
ponds, evidently, on the future course
of events.
The assets as given by the commit
tee, and shown above, are more than
offset by debts amounting to $4,000,
as the committees own figures show.
The full report follows:
Report of the Committee
In its report of the work OF the re-
organization or advisory committee,
appointed to investigate the present
status of the L. S. Grain Growers,
Inc, the American Farm Bureau
Weekly News Letter of June 29th,
says;
The Midwest state farm bureau
presidents and secretaries met in the
Offices of the American farm bureau
federation on June % to hear the re-
port of their special committee which
has been investigating the L. S. Grain
Growers, Inc. The committee was APP
pointed by Chairman Charles W.
Hunt. of the Midwest farm bureaus,
on May Is and consists of E. H. Gun
bingham, secretary of the Iowa farm
bureau federation; W. S. Hill, presi-
dent of the South Dakota farm bureau
federation; and ]. w Coverdale, sec
rotary of the American farm bureau
federation"
The News Letter continues by stat
ing that: The farm bureau commit
tee presented a report which had been
agreed to and signed by the three
officers of the U. S. Grain Growers
President c. H. Gustafson, Vice-Presi-
dent James X. Mason and Secretary
Frank NJ. Meyers. The report. which
was adopted by the Midwest farm
bureaus, is in seven sections, as
follows:
The Midwest States committee
representing the creditors of the U. S
Grain Growers Inc, and the Midwest
farm bureau states, agree to the fol-
lowing:
I. That the proposed sales agency
contract of the U. S. Grain Growers
Sales company with the Chicago Sales
company will be submitted by us to the
Midwest states at an early meeting,
with our recommendation that it offers
theonly immediate opportunity for the
selling of grain now under contract
with the U. S. Grain Growers, Inc"
Liabilities About $377,0 900.
80. We, the committee, find the liza
bilities of the u. S. Grain Growers,
Inc. to be approximately $377,0 900, the
assets now in the cash reserve fund
being approximately $4,000 There is
on hand about 100000 in so member
ship notes and post-dated checks,
which are now in the reserve fund
and approximately $4,000 in notes,
said to be out for collection, and the
committee is unable at this time to
determine the status of same. We,
the committee, feel that large por-
tions of these notes will be collectible,
if the selling of grain proceeds at
once"
g. That in order that the creditors
shall be protected, the general over
head office expense Of le U. S. Grain
Growers, Inc, be reduced to not to ex-
coed $4,000 per year, until all obliga-
lions outstanding at thiStime can be
met"
"a We further recommend, in or
der that the above provisions be car
ried out, that there be a general man
ager of office affairs of the U. S. Grain
Growers, Inc, that he employ the nee
essary clerical and bookkeeping help
TO keep the records in shape and that
he be allowed not to exceed $1,000 per
year for this budget; further that not
to exceed $4,000 additional be used for
rent, telephone, telegraph, supplies.
publicity, ETC."
No Salaries For Officers.
"5. We, the committee, recommend
and insist that at the first opportunity
Of the .. S. Grain Growers board of
directors, or at the annual meeting.
the bylaws be so amended that no
elected officers or directors of the U.
S. Grain Growers, Inc, shall be sal
aried employees of the corporation,