Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1934-02-01
PINE COOP OIL
HAS GOOD YEAR
Askov Cooperative Con.
Germ Will Pay Ten Per
Cent Dividend.
Midland Oil Association
Representative Talks at
Annual Meeting.

About 80 stockholders attended the
annual meeting of the Pine Coop Oil
Association held in the basement of
the d. B. S. hall Saturday afternoon
at / o'clock. Besides electing officers
for the coming year the meeting
transacted such items of business as
it had legal right to do. Among the
things voted upon was the setting
aside of S25 for an educational fund.
which as one man put it, might bet
ter be called defense fund. This
money may be used for the further
ing of the cooperative movement or
for any emergency which has to do
with the welfare of the movement.
A discussion was had on the advis-
ability of scaling down the interest
rate paid on shares and although due
to the bylaws, this matter could not
legally be decided at the meeting, it
was nevertheless the test vote of the
meeting to cut the rate from eight
per cent to six and that the amount
of each share should be set at $40 in
stead of S25 as at present This set
up would make each one of the pres
ent single shareholders own two and
One-half shares instead of one. A
special meeting may be called some
time in the future to settle these
matters.
AS usual the business of the associ-
alton showed a profit for the year
and it was voted to pay 10 per cent
dividend to the stockholders.
Elect Officers.
Seventy-seven votes were cast in
the election of officers and when they
were counted it was found that H. X.
Buck, ]. r. Petersen, Thorvald Sor-
ensen and Christ Larsen were re-
elected to the board and Oscar Lin
roth of Hinckley, succeeds Peter Pc
tersen as board member. Mr.. Lin
roths name was placed in nominal
ton by one of a delegation from
Hinckley and his election was the
result of desire on the part of those
present to recognize the goOdly mem
bership in that community and to
give them representation on the
board.
W Be IetTScu ldlhSs
v. S. Petersen, field man of Mid
land Cooperative Oil Association of
Minneapolis, and a former Askov
man, was the speaker at the meeting
and gave a good straight forward
talk on the cooperative movement
it's progress and its handicaps. In
launching his talk Mr.. Petersen
quoted Lincoln and Jefferson, as to
men being created equal and entitled
to life, liberty and the pursuit OF
happiness. Mr.. Petersen emphasized
the fact that cooperation is the only
way to insure the doctrines eXpounded
by those men.
There is something wrong, said Mr.
Petersen, in the country when doc
tors stand in relief lines and on the
other hand there are sick people who
have no money to buy medical aid.
In this instance he told of the Situa-
ton in the cities, where at the Min
neapolis City hospital alone there are
from 500 to 1900 people per day seek
ing medical aid; of them are many
mental and physical cases brought
on by the depression. He deplOred
an economic system which took away
from the lives Of people that which
should not be taken away.
In speaking of this the speaker
quoted Philip F.. LaFollette as say
ing in a recent talk that the COM
mon people are like COWS, that they
have been MIXED dry by the few and
that the milking machine should be
turned on the mixers for change.
Exploitation is the source Of all eco
nOmic evil in this country, 1ntlmated
the speaker. The public is exploited
In everything it buys and sells. He
lauded the work of the New Deal in
lions but stated that it will be just
. relief and will not be permanent.
It will milk a few millions from
Wall Street and scatter them over
the country but this is not enough;
the system which allows such cOndi
lions should be changed. The coun-
try has millions who slave and can
barely make a living while a few
make much more than they can use.
exhorbitant salaries paid to some
railroad presidents.
Mr.. Petersen urged everyone to get
into politics-not to run for office but
to see that the right men are elected.
He paid tribute to Gov. Floyd B. Oh
son as a man who places human
rights above property. He expressed
appreciation of the help which the
Farmer-Labor party gives the coop
erative movement stating that the
party gives helping hand whenever
. possible.
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