The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1922-03-16
WAYNE COUNTY REPRESENTATIVES PLEDGE
S4OO LOAN FOR COOP COMMISSION FIRM

which will be a loan without interest,
will be deposited in Indianapolis and
used as security upon which to borrow
working capital up to 100000 or more.
1--WE are all ready to establish a COM
mission firm, as soon as it can be
financed said Earl Crawford, director
of this district, as he opened the meet
ing Wednesday morning. He intro
duced William Settle, who explained
| the plans of the firm, stating that more
business than the firm could handle at
| the start had been promised already.
| That there is possibility of substan-
| tial profits in the firms operations,
was shown by Mr.. Settle, who stated
that in no case has a cooperative COM
mission firm, established within the
1 last two years, operated at cost of
more than half the usual commission
charges. The regular charge is made
| by these firms and the surplus refund
ed to patrons on the basis of the bust
ness furnished In South st. Paul the
| company operated for 81 % car, while
commission charges were $22 a car.
In st. Louis so per cent of the commits
sion charge is refunded.
I Experienced Difficulty
Much difficulty was experienced in
getting into the Omaha yards, where
the first farmers commission firm was
started, said Mr.. Settle. When the
farmers started to sell their own stock
five years ago, they were unable to
get into the exchange, and could not
even get the use of stock pens. The
firm was compelled to build pens out
side the stock yards and operate as
an outlaw" In the second year, how
ever, they were allowed use of the
stock yards and later were admitted to
the exchange The refunds to patrons
of commission surcharges each year
were SO per cent, As per cent, so pei
cent and 60 per cent, the same basic
charge being made as was made by
other firms.
Northern Indiana is organizing fol
! the Chicago and Toledo markets, stat
ed the speaker, and there where com
munity shipping associations have
been operating for some time the
! stock buyer is totally unknown. To
ledo will soon have a commission firm
handling Indiana, Michigan and Ohio
; stock. One Michigan man pledged
I 81 200 personally on behalf of his ter
: ritory at the Toledo meeting.
Welcome Organizations
Packers prices based on actual pro
duction costs were predicted by thu
, speaker, who stated that the packer
! had expressed willingness for sucl
a solution, as soon as the country i
, we'll enough organized, through tn
I commission on firms and the commu
nifty shipping associations, to contro
the flow of stock.
Z Five commission firms of Indianapo
! lis offered their fixtures and offices TO
1 sale to the farmer company within on
( day this week, said Mr.. Settle, Will
over so expert buyers and statesmen ha
applied for positions with the farmers
company These evidences were cite
as proof of the faith these parties hav
. in the success of the proposed firm.
so Representatives
There were over so farmer repre-
sentatives of six of the eight cour
~ ties in the district, present in New
, | castle to hear the explanation of tn
, plans. Much enthusiasm was show
in the prospects for live stock marke
+ ing. Wayne county representative
r were L. C. Palmer, Luther King, Ho,
alto King and E. C.. Caldwell, as we
as Earl Crawford.
Money pledged for the guarantee
g fund, which is loan without interes
will be paid to the Indianapolis offic
by March 25 and the firm expects t
open for business early in April. TIL
+; | surplus over the regular commissio
charge, which amounts to $12 car &
present, will be refunded on a patron
age basis, at the end of the yea
Loans also will be repaid from profit
&C of the company as soon as possible.
C. Local shipping associations will /
charged membership fee of IS
which will be the same for county a
= sociations also. Individual farmer
may take out single memberships {
SO apiece. Non-members of the ia
mers' federation may ship to the fir
= but will be entitled only to a ha
}. patronage refund, the remainder
H. their surplus charges being divide
among federation members in the tie
L, ritory from which the non-membel
~ ship.