Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1933-02-02
OIL CONCERN
MAKES MONEY
Pine Coop Oil Association
Declares II Per Cent
to Patrons.
M i d | a n d Oil Association
Representative Talks to
Many at Annual Meet.

over lUO men dLtenQeQ the annual
meeting of the Pine Coop Oil AS
ISOLATION in the Askov D. B,
S. hall Saturday afternoon at which
time George w. Jacobson of the Mid
land Cooperative Oil Association was
present and talked on cooperation,
its problems and its possibilities.
The association still continues to
lead the field in benefits to it's patrons
and members as was evidenced by the
financial statement read at the meet
ing and by the fact that it was de-
cided to declare a IL per cent divi-
dend on the years business eight per
cent of which will be paid immedi-
ately and four per cent to be distrib-
uted later in amounts as released
from the funds in the closed First
State Bank. The total net income
amounted to S3,097.35, and the sales
for the year were as follows: Case
line, 110,S21 gallons; kerosene, 19,3O1
gallons; distillate, 9,066 gallons; lubri-
eating oils, 1855 gallons, and greases.
1928 pounds.
The directors fees were raised from
ST per meeting to 81 and much dis
cussion was had concerning the ques-
ton of expanding further into other
communities. This was left to the
board of directors.
A Mr.. Blood of Pine City, was pres
ent and said a few words about CO.
operation and volunteered his services
to the association if it desired to come
into his community.
Jacobson Talks.
After the nomination of ten candi-
dates for the board of directors were
made and ballots were cast to choose
five and during the counting of these
ballots, George w. Jacobson of Mid
land, talked on cooperation. Mr.. ia
cebson said that he noticed the alb
sence of women at the meeting and
stated that it was not only necessary
to have women attend and learn more
about cooperation. but an effort
should be made to educate the young
people in it's fundamentals. Mr.. ia
cobson quoted Professor Blakely, tax
expert in the University of Minnesota,
as saying that the greater part of the
taxpayers dollar goes for war and
that the people should be more in
terested in the income and gasoline
taxes.
The speaker stated that we do not
have to be told what depression is
now. for we are deep in one. but more
thought should be given to co-opera-
ton.
In speaking of the possibilities of
the Frazier bill Mr.. Jacobson told
that it would make it possible to re-
finance all of the farms in the United
States and would place agriculture
more on a parity with industry. In
further comment on the bill the
speaker, however, went seemingly be-
side the point at hand and stated that
there was a danger that people would
borrow themselves deeper into debt
and that situation would not help
them any. The important thing is
not the price you get but what you
can buy with that money. He took
for example the success of the Pine
Coop Oil association and stated that
the gas and Oil users of the association
had increased the purchasing power
of their oil and gas dollars consider
ably as evidenced by the refund in
dividends they are receiving. This
would tend to show that the buying
power of the dollar can be increased
by organization. He admonished his
listeners not to sleep but to keep
awake and strive to keep cooperation
alive, saying that if the cooperative
movement survives the source of sup
ply must be reached so that the oppo-
sition will not get control and shut
off the supply.
Mr.. Jacobson stated that the pres
ent profit system has served until the
present time but it has fallen down
as is evident by the Is millions of
unemployed throughout the nation.
Cooperation now faces a golden OPP
portunity.
In closing the speaker stated that
the Midland Cooperative Oil Associa-
tion has, since starting six years ago,
progressed until now it has a capital
of $4,000 and that its existence and
progress is indebted to rural co-opera-
tives. In closing Mr.. Jacobson sug-
gested that a small amount of money
be expended for advertising and edu-
cation in. the cooperative movement.
At the conclusion of his talk the
board of directors were announced
and resulted in the reelection of the
old board with the exception that
j. R. Petersen was chosen to take
the place of A. P. Jensen, who de-
clined acceptance of the vote again.
The board will thus include for the
coming year, H. r. Buck, Christ Lar
sen, Thorvald L. Sorensen, Peter Pc