The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1930-08-01

method of marketing. Clayton v.
hamilton. director of bonding and
insurance, and head of the Clayton
V. Hamilton Co. of st. Paul was
given the floor Mr.. Hamilton said
mat the Company had no intention
OF reducing insurance rates on farm
stored grain this fall, but that Mr..
Thatcher had interviewed him re-
peatedly and insisted that the insur-
ance and bond rates be reduced. The
intermediate Credit Bank will not
make loans on any grain that is not
insured for fire, theft, tornado,
windstorm and transportation to
shipping point, and the custodian of
the grain must furnish an Integrity
bond. Last year such insurance
cost $20.75 per $1,000. and the bond
pany would not reduce their rates
and take all applications made to
them, but they did reduce their
rates under the following provision:
They will furnish insurance covering
all of the above mentioned hazards
for 1925 per 1000 blu. No minimum
and an integrity bond for $3.50 per
$1,000 minimum to Farmer Union
members only and each applicant
must be Endorsed by the local presi-
dent and secretary. They feel that
where. a man is a member of the
Union, and has his application in
dorSed by the local president and
secretary that the risk will not be
so great then to take all applica-
tions. This does not mean that only
Union members can have their grain
inspected and received a Farm Stor-
age loan. Any producer of grain
can have his grain inspected and
anyone holding a farm warehouse
certificate can receive a loan but
all farm stored grain must be cover
ed by insurance and an Integrity
bond before the intermediate Credit
bond will loan on the farm ware
house certificate. The Intermediate
Credit bank does not care who
writes the insurance and bond just
so they cover all the risks but the
low price of insurance and bond can
only be secured from the Clayton V
Hamilton Co. thru the Farmers
Union Terminal Association by Union
members. Mr.. Hamilton is a very
capable insurance and bondsman and
has spent a great deal of time or
the insurance of farm stored grair
and in making this low rate on this
insurance and bond the Company
makes the demand that the appli
cant must be a Union member. I
is a provision made by the insurance
company and not by the Union.
Mr.. Thatcher took the floor TIL
following morning and put in tn
day explaining every phase of tn
work and what it will mean to tn
farmers of the Northwest if the.
will do their part by supporting tn
movement Question after question
: was asked and answered. Mr.. That
crer covered everything as only MI
, Thatcher can, and he makes a spe
cial appeal to all Union member
! that take advantage of their loan t
be at all times fair and honest, a
, the success of this movement de
ponds on the farmers themselves
should they prove to be unfair an
dishonest, low rates of inSuranc
and bonds cannot be obtained in tn
coming years. Any one that is no
member of the Union but wishe
to join should get in touch with tn
Local Secretary in your community
Anyone that does not wish to joi
the Union should write to me and
will give you full information j
the matter of loans on farm store
, grain.
From time to time I will inforl
= the farmers of Sheridan County thr
\ the Producers News, different part
! about farm stored grain"