The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1930-04-18
both to domestic and foreign

buyers.
The function of a regional O
ganization, like the Farmers Vi
ion Terminal association, is t
gather the grain from the coul
try and bring it in to the centr;
sales agency, otherwise the Farm
ers National Grain corporation.
The Farmers Union Termina
association, having received mari
citing and facility funds from tn
Grain corporation, will pass thes
: funds on to farmer elevator as
%sociations and to individual farm
ers who grow wheat and othe.
grains.
No local elevator or individual
farmer may do business direcr
with the Farmers National Grair
corporation. The Farmers Nation
al Grain corporation does bust
ness only with its stakeholder as
sociations.
Terminal Association
Let us take the Farmers Union
Terminal association as an illus.
tration.
The Farmers Union Terminal
association is the largest stock
holder of the Farmers National
Grain corporation. 1t is the larg-
est stakeholder because it is the
largest cooperative grain corpor-
alton in the United States.
At the time the Farmers Ma
tional Grain corporation was or
ganized, the Farmers Union Ter
minal association was in it's third
marketing year. We had handled
at the terminals for country ele-
vators and individual farmers, and
acting as their sales agent, a
large volume of business.
From the 1927 crop we had
handled approximately 8,000,0 900
bushels. From the crop of 1928
We had handled 10000, 900 bush
els of all kinds of grain, includ-
ing wheat, durum, flax, rye, bar
ley, oats and corn.
We had a terminal elevator at
Paul with a capacity of $780,
600 bushels of grain. Late in 1929
we erected SOC, 900 additional stor-
age capacity to this elevator, and
as soon as the frost is out of the
ground, work will be begun on
additional 1000, 900 bushels stor-
age at this terminal elevator.
We have storage facilities at
Duluth by contractual relations,
and will of course expand our
criminal storage facilities as rap
dly as conditions and needs
variant.
We were in the midst of the
-929 crop when the meeting to
,rganize a central sales agency
vas called by Alexander Legge,
of the Federal Farm
board. At that time we were rep
esenting over a hundred affili-
ted country elevators and a to-
al membership of the Farmers
Union in the grain belt approx
$4,000 grain growers.
The records disclosed at the
'hicago meeting placed the Farm
RS Union Terminal association
! the lead of all strictly cooper
tive grain handling organiza-
ions, and when the Farmers Ma
.onal Grain corporation was or
anized, we became it's largest
Since the organization of the
rain corporation, we have pur-
hased for the corporation owe
000, 900 bushels of wheat and
lrum at st. Paul and Duluth.
We have handled, and are in
lie process of handling, over
900, 600 of Farm Board and In
'rmediate Credit Bank funds in
,nnection with sterilization loans
4 wheat and durum stored in
elevators or out or the
rms. In connection with these
ans we have had to employ the
Of the largest insurance
,mpanies in America, which COM
have now underwritten for
bonds in the sum of $3,790,000
All that we have stated in the
regoing relates to the 1929 crop.
e are now making elaborate
ans for handling the crop of
80. Let us see how this will
done.
1880 Marketing Program
will start with the Farm
,ard. The chief function of the
lrm Board is to administer the
.ds which the Congress of the
lie Farmers National Grain cor
lifted States placed in its hands.
will receive from the
.rm Board an allotment of funds
: grain marketing. The Grain
rporation in turn will allot
nds entrusted to it by the Farm
ard to it's member stockholders.
The Farmers Union Terminal
ISOLATION will receive an allot-
mt of funds to correspond to
2 volume of business to be
ndled.
What use will be made of these
Ids by the Farmers Union Ter
nal association?