The weekly times-record. (Valley City, N.D.) 1912-1922, 1922-08-31
FIRST MEETING OF
WHEAT DIRECTORS

ITOWcTS dSSOCldClOH SlIlCc CHdL VI 5 oil
ization began active operation as a
selling body, was held today at Grand
Forks. Fourteen of the twenty men,
bers of the board were present at the
meeting, and all were enthusiastic in
the work done by the association this
fall.
The prime purpose of the session
was to complete arrangements for
the use of the $5,OO0,0O0 loan secured
from the U. S. War Finance corpora.
ton to be used by the association to
advance money on pooled wheat. 1t
will be available about September Is,
and in the meantime Grand Forks
bankers are financing the sale of the
wheat as it is delivered to the asso-
citation for storage and ultimate sale,
and will continue so to do as far as
means permit, and there is a possibll-
ity that only part of the government
money will be actually used.
Officers Of the state organization
are completely satisfied with this ar
rangen1ent for financing, particularly
as the money IS secured at a rate OF
onlv 6 percent, thus reducing the in
terest charge which like all other ex-
penses of operation is eventually met
by the grower members.
Geo. C. Jewett, general manager OF
the Northwest Wheat Growers, asso-
ciated, who has direct charge OF the
sales agency of the organization at
Minneapolis, was also in attendance
and gave the members his views OF
the general wheat market situation.
"Only one thing will change the pre-
sent situation, wherein wheat produc-
ers throughout the entire country
are receiving less for their crop than
it costs to produce IT." said Mr.. Jew
EFT, land that is more orderly flow to
the markets. In years past the regu-
lar fall dump of wheat in whlch
about Is percent of the crop has oeen
sold in three months, has been to some
extent met by purchases OF European
buyers. This year there is no Euro
pean support to meet the dump
Europe will take as much, indeed 1t
will take one hundred million bushels
more wheat than usual, but will buy
univ on a hand to mouth basis. AS
result, if there is flood OF wheat 10
market corresponding with that OF
previous years, no power can ge'
prices to a fair basis.
n 'The Wheat Growers ASSOCIATION
are doing their best to prevent 1nese
.dumps' through the pools IN elgn'
states but they can't do it alone. IL
will, take the assistance of the organ
;zed growers of hundreds OF millions
of bushels if wheat is to be orousn'
n basis of equality with other COM
modities." ~,
Geo. E. Duis, president OF cne
North Dakota Wheat Growers assn
ciation. in his report to the dlrectors'
struck very optimistic note IN re-
GARD to the prospects of a successful
pool this year.
..We have found businessmen ana
farmers alike in a favorable attitude lEe
toward this cooperative movement III
this state" Mr. Duis said. bankers
esnecially are giving the ass oc1atlon
active support. The syndicate loan OF
$4,000 by Grand Forks bankers 10
cara for immediate needs until the
War Finance money becomes avail
ah,e has permitted US to care tor all
early shipments in a most satisfactory
manner. Storage tickets for whea'
and other grains are being sent to 1he
headquarters here from all parts OF
Tho state, and thousands OF busheis
have already been shipped to the ter
minals."
A formal request from the Nebras'
ka Wheat Growers association to De
included in the Northwest zone OF the
Wheat Growers was received and was
acted upon favorably. Plans were
also made for organization work IN
Minnesota and South Dakota, and II
was decided to begin operations IN
those states this fall.
Attending the meeting of the dlrec-
tors were the following: S. H. Copen-
haver, Darlington; M. S. Blair, Grand
Forks; Francis M. Copeland, I. B
Thompson, Thompson, N. D.; Usher
L. Burdick, Williston; A. G. Peterson
Grand Forks; H. L. Knauss, Tolna; A
Meecham, Edinburgh; Geo. E. Duls
Grand Forks; A. Omlid, Thompson;
A. N. Winge, Van Hook; Howard Bird
Flaxton; O. G. Bothan, Aneta; VIII
G.. Williamson, Arvilla; John Mahon
Langdon; A. R. Joshand, Cathay; T.
H. Maloney, Webster; A. J. Melon
nell, Devils Lake.