Milford chronicle., 1926-03-26
FARMERS EXCHANGE
MEMBERS met AT
MILFORD LAST WEEK


to be held by Eastern States Far
mers' Exchange throughout its ter
ritorv was attended by moro than
As interested farmers at The Grange
Hall in Milford, Thursday evening,
March 18th at 500 +. NJ.
Mr.. Asa Reynolds speaking on
Farm Bureau stressed the value OF
the work OF the Exchange in CO.
operation with the State Farm Bur-
eau in Delaware during the past sew
eral years, sighting an instance in
his life that showed the value OF CO.
operation.
Mr.. John D. link, General Mama
ger OF Eastern States Farmers EX-
change, explained the object Of the
meeting was to carry TO the men,
bership information which was CIV
en- out at the annual meeting which
was held in Springfield February,
this year. He stated that it was ap-
parently impossible for a majority
OF the 10000 members to go to
Springfield therefore, the Exchange
was attempting to bring the mes
sage to them.
MI. LI0k SldlGu lllttb NuA AAio A''---
the Exchange received Ass carload
orders for all commodities handled.
During 1925 it received 4,S71 car
load orders, an increase of 2S3 car
loads. It's gross sales in 1924 were
.S5.526.554 In 1925 the gross sales
were S5.979,965. The tonnage OF all
commodities during 1924 was 49,
$50. During 1925 the tonnage OF all
commodities amounted to 1882, an
increase of 5,702 tons.
Increased Membership
It was stated that the Exchange
had had a very marked increase III
tho number OF its members during
the past year. The members OF the
organization is the farmer who pur-
chases through it for his own re-
ouirements. In 1924 it had no de-
finite record of how many farmers
purchased through the organization.
Based in all the facts it could bring
to bear. the number was estimated
at 14,50O. The Exchanges knew
that in 1925 the membership exceed
ed 10000 because it had more than
that number of 1925 patronage ac-
counts. In spite Of predictions free
ly made-prophesying a material
decrease in territory served, or de-
crease in the number of stations to
which the Exchange would ship
commodities instead of any OIL these
tendencies developing the number
of stations has increased to 59S, the
largest number the Exchange has
served in its history
There have been times in the past
when the Exchange was led to be-
lieye that success in its organiza-
tion was not achieved in any one
wear unless it had an increase to re-
mort of around 500. OF course,
with a volume of 10000 tons year,
it only required 10000 tons increase
to make 500. Now ii the Exchange
had an increase of 10000 tons, II
would be only an increase of 1910.
In view of the fact that this type OF
business has certain limiting fac
tors, the Exchange is performing its
function satisfactorily and growing
properly if it has what formerly
would have been considered mini
mum increase.
Feed and Grai0
Feed and grain continues to be the
leading commodity in volume, ana
the Exchange has progress 10 re-
mort on that commodity. The EX-
change received in 1924, 1850 car
load orders, and in 1925, 4213, an in
crease OF 1853 carloads. Its tonnage
in 1924 was 102T41, and in 1923,
1O6.487 tons, an increase OF 9,746
tons OF feed. There was the pre-
diction made when it acquired its
own milling property that it was
matter OF more or less toreSone
conclusion that its feed business
would be split. There vas the op-
inion expressed in some quarters
that the Exchange would be unable
to hold the membership, on the be-
lief that it, as a young cooperative
organization, could not operate Il
plant without any assistance from
well established and long standing
feed concern which had been Operat-
ing such a business for years past, |
especially in view of the fact that
that organization was supposed 10 |
have capital and the EXcnange was |
thought to have none. 1t is re-
markable tribute to the idea OF CO.
operation which has been developed |
in the minds of the members that |
they stuck through thick and thin,
and it is a source of real satisfaction
to know that for their loyalty they
have profited more than they have
ever done before.
New Price Policy
The Exchange price policy in con-
nection with feeds was changed this
year, not so much through desire,
but through necessity of market
conditions. The Executive Commit
tee held to the belief that it was
probably better for the time being,
ii markets would permit, to adhere
to the plan of naming a pool price
as the Exchange had done before.
But it became apparent, as the sum-
mer progressed, that if the EX-
change was to buy all the ingred-
tents necessary to make up its con-
tract sales amounting to 71,000 tons,
it would absolutely be guaranteeing
those contract signers a loss on
some commodities. There were GER
tain commodities the price of which
seemed favorable, and the Exchange
purchased. There were others that
the Exchange knew were too high
in price compared to what they
would be in the winter months.
This was particularly true of grain,
corn and oats. Bran and mill feeds
wara commodities the EXCHANGE