The gazette-times. [volume] (Heppner, Or.) 1912-1925, 1922-11-23
PRODUCERS FINANCE
CORP. IS ENDORSED
Meeting Held Here Wednesday; Ad-
dressed by Fred Wilson Of Port
land.-Committee Of Farmers and
Stockmen Chosen and Organized.
By c. c. CALKINS, County Agent.

By c. C. CALKINS, County Agent.
Following the meeting of last week,
addressed by George A. Mansfield,
president of the State Farm Bureau
Federation and Wade Siler, Of the
Producers Finance Corporation,
which meeting was attended by some
one hundred farmers and stockmen,
1t was decided that another meeting
would be held here a week later,
which should be attended by commit
teemen representing the various
parts Of Morrow county, and as
many others as desired to be pres
ent.
This meeting was held yesterday
at the Star theater in Heppner, at
which time Fred Wilson, Portland
banker and head of the Producers FL
nance Corporation, addressed those
present. Most of the time was spent
in answering questions and going in
to details Of the organization.
The Producers Finance Corpora
ton will sell shares of stock at $3.50
in order to get capital upon which
to operate. The association will bor-
row eastern capital at the best rate
available. Enough will be added to
this to take care of the expense Of
operating the association and to al
low one-half of one per cent, or pos
sibly one per cent which will be used
in paying interest on the capital in
which farmers and stockmen have in
vested. Loans win be made on live
stock, equipment and growing crops.
One thing that particularly i'm
pressed those present was that while
stock subscriptions are being taken
no effort will be made to collect any
mony until at least twelve of the main
stock shipping centers are strongly
represented. In other words, Mr..
Wilson stated that he did not want
to put this thing over unless 1t was
going to go in a way to accomplish
all that he had outlined for it. He
also stated that close to 100000 had
been subscribed by farmers and
stockmen already which would give
them close to $4,000 900 loaning ca
pacity when this is paid in.
He further stated that they expect
ed to begin operations soon after the
first of the year but emphasized the
fact that the Producers Finance Cor
poration on which SO many are build
ing considerable hopes, would not be
growing to full manhood over night,
but that their policy would be to grow
slow, not to make exceedingly large
promises, and make every effort to
do more for the members than they
had promised to begin with.
. Mr.. Wilson explained how the Pro-
ducers Finance Corporation expect
ed to work in with the Oregon Coop
erative Grain Growers, supplement
ing their operations; that organiza-
tion had no capital stock and their
members were frequently in need OF
financial aid which could be arrang-
ed through the Producers Finance
Corporation. He also showed that
their plans were for assisting stock
men in getting their livestock on the
market in an orderly way, avoiding
the flooding and breaking of markets
at certain stated periods.
Those present indorsed the plan
and committee representing various
districts was agreed upon, which
would assist Mr.. Siler or Mr.. Wilson
in getting around and seeing the va
rious- farmers and stockmen in their
particular communities a little later.
Some of those present subscribed for
stock yesterday.
No effort is being made to rush in
to this thing without giving it full
consideration, nor is any campaign
being put on to urge every man to
take stock in the Producers Finance
Corporation. 1t would occur to US
that as every individual will have a
chance to analyze it from his own
viewpoint, and see where he can be
benefited, that that individual is in
the best position to determine wheth-
er he should take stock in the or
ganization or not.
The committee agreed upon to rep
resent the various communities were:
Jack Hynd, Cecil; H. C. Witzel and
Ben Morgan, Morgan; ]. 0. Kincaid,
A. A. McCabe and E. H. Turner, lone;
John Padberg and Joe Devine, Lex
ington; Earl Wiglesworth and Wal
ter Kilcup, Lena; R. W. Turner and
JEFF ions, Heppner; Howard Ander-
son and Oscar Keithley, Eight Mile;
Ray Wright tnd Ed Rugg, Rhea
creek; Anson Wright, Hardman;
Chas. Heinrich, Sand Hollow; G. G.
Morey, Alpine; Bill Mahrt, Gooseber-
ry; Ed Neill, Butter creek. The COM
mittee organized with J. o. Kincaid,
chairman, and Ed Rugg, secretary.
This organization will plan to
function through local committees of
farmers and stockmen, who will pass
on loans and handle the affairs OF
the organization locally The affairs
of the association will from now on
be handled through this temporary
organization until membership is es-
tablished and permanent organiza-