The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1929-11-08
Unions Marketing
Business Explained
BY NJ. w. Thatcher

Continued from page One)
Thatcher showed there is no ground
for suspicion that the directorate or
manager could sell out the organiza-
ton itself.
Red Tape of Loans
For more than two hours, Thatcll-
CT gave detailed information on the
unions grain marketing business,
operation of the state farm storage
law. how to obtain loans and the
ideas and policies Of the federal farm
board. Many OF them were inspired
by statements made by Thatcher last
night in an address OH the subject.
Thatcher said the union is max
ing loans Of money obtained from the
federal intermediate credit bank and
that the federal farm board has adj
vanced $4,000 for supplemental
loans. The intermediate credit bank
loans up to IS per cent Of the market
value of grain and the farm board
loans enough more to bring the total
up to the minimum value of grain
established by It. Farm board money
IS being loaned at less than 4 per
cent.
Several delegates wanted to know
whether the union would advance
loans on any elevator storage tickets
and, If so, whether such loans would
be advanced on less than carload
lots.
Manager Thatcher answered that
the union would grant loans on any
storage ticket issued by any elevator
II accompanied by O marketing agree
ment signed by the owner Of the
wheat and. an agreement to become q
part Of the Terminal company which
is supplying the accommodation Of
the loan. Loans would be made Oh
amounts less than a carload, he
added. He made an approximate
calculation that the advance would
be $l.05 q bushel on spring wheat,
at Williston, increasing to 81 Is where
freight rates were less. SO that the
advance could be correspondingly in
creased. II business is done direct
from the applicant to the union, in
stead Of through responsible elevators,
he said. a chattel abstract would be
required.
Bins Must Be K0Ofed
Manager Thatcher said that bor-
rowers could get the required stock
in the Terminal company without
being members Of the union. The
policy for the present Is to accom-
modate everybody. but later the union
will close down on outsiders and will
obtain loans for members only, it
was stated.
It was brought out that farm stor-
age bins must be sealed on top as
well as at the outlet. Senator David
Hamilton explained that this was the
idea Of the trainers of the law in the
Legislature last winter. It Is intended
that the stored grain shall not be
tempered with or stolen.
Minot Wants Convention
In his report, this afternoon. Sec
rotary e. E. Greene, Jamestown. said
the union has 26.763 members Of
whom 1862 are IN good standing. It
has 1895 honorary members. the
wives. sons and daughters Of regular
members. and has cas- locals in -
counties. Organization work will start
next year IN Sioux. Grant. Adams and
Mcintosh counties. Stutsman county,
with 1850. has the largest number Of
dues-paying members.
The Dickinson local, Stark county.
Is the largest In the state with les
regular and 70 honorary members.
The Whitby local, Bottineau county
Is the first to report 100 per cent paid
| up membership for 1880, Greene said
All invitation to meet In Minot III
!. $3.50 was received Thursday and ind