The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1924-08-14
Promise Farmers Dividend by Grain Control
BY GEORGE BRITT

CHICAGO Aug. 14-"What viii you give me-" has been
" the farmers humble plea every year when he dumped
on the market his S00000000 bushels Of wheat and ms
millions Of other grain,
I'm have to have umptyump this season. and not cent
less will be his sales henceorth This, according TO the
cooperative newly organized S2600000O Grain Marketing
Co, which is ready 20 handle this years crop
The Grain Marketing Co will be composed Of the farm
ers themselves Farmers will hold all the voting stock and
most of the other stock II profits earned above
per cent dividend they will back patronage dividends
to farmers who actually raised the grain
The object Of the organization according TO Gray Silver
its president lis the orderly marketing Of the nations grain
crops possibly only thru central control of the grain itself
We seeking TO shorten the channel from the producer
TO the We have formed nonprofit cooperative
association for the purpose Of selling members products
for the best available price and with the least possible
overhead
MAY REDUCE BREAD PRICES
There is no intention to strongarm nm excessive price
from the public The ultimate scope of the company is
simply to sell grain economically and fairly II may be pos
be by efficient handling TO reduce the price Of bread while
giving the farmer increased price for his grain"
Opposition 10 the Grain Marketing Co. has arisen from
various farm groups including the National Wheat Growers
advisory committee of which former Governor Frank o.
Lowden, Of Illinois, is chairman. The company has gone
ahead. however
Already has taken over the organization and properties
of five great private companies Armour Rosenbaum Rosen
baum Brothers. j. c. Shafer and Davis-N oand Merrill
Appraisers will set the price to be paid The experienced
heads of those companies will continue in the organ
zation on contract for five years
Elevators and warehouses waiting TO receive grain in
Ia dozen cities from New York to Kansas City and from
Minneapolis to Galveston. There about 5000 farmers
expected TO affiliate Greater of warehouse receipts
for obtaining credit is intended feature Of the market
ing plan
"A farmer wanting TO sell thru the company should first
notify the nearest branch the main office in Chicago
j. W. Coverdae secretary of the company
He will be told where to ship his grain advised to
hold 1t subject TO call later Any cooperative local elevator
wishing to start marketing thru the company should first
apply for membership to the company at POS s. La Sale
ST.. Chicago
| LESS SPECULATION, WASTE
THE company will be simply Of good many agen-
ces receiving grain the market But it hopes TO handle
enough Of the crop to have real influence Instead Of the
price futuatng because Of farmers selling according TO
their within necessity the company will sell its grain In
calm busnesske regular fashion. There will be less spec
ulaton, duplication and waste"
The idea first became public in June Of last year when
Bernard NJ. Baruch New York fnancier revealed n plan
for farmers to take the Armour Grain Co. George
E. Marcy president of that company talked favoraby
immediate results appeared Silver and Coverdale have
been the most active workers for the farmers ncubang
that idea
Personal Of the heads of the big grain companies
are largely responsible for their willingness to close out
their business to the farmers Several Of them have reached
the age when they welcome retirement Federal legislation
and regulation has taken much of the JOY Of the grain
business II stock in the cooperative can be sold to
the grain farmers 1t looks If they would join the fruit
cotton and tobacco growers in becoming proprietary bust
ness men-not takers of dole from the middle men