The people's voice. [volume] (Helena, Mont.) 1939-1969, 1943-04-30
Line of Elevators
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benefits which accrue from the co-oI
erative movement, and how they ca
become owners of their own bus
ness" through patronage rather tina
through investing any money.
This most recent acquisition
which was made possible because tn
Farmers Union Grain Terminal Asso
citation had access to the necessar.
funds, is another demonstration o
what can be accomplished by cooper
latives If annual savings are not al
dissipated in cash patronage divi
dends," Mr. Thatcher said.
Dividends Built Them
These economic gains In the north
west have been made through the
loyalty and patronage of the farmers
who during the past five years lei
their patronage dividends accumulate
in order to build a reservoir which
made it possible, first to put up ouI
huge terminal elevators at Superior
Wis, and Shelby and Lewistown, Mon
tana, and now enable us to expand
our cooperative facilities still further
by taking over the st. Anthony line.
By following this method of build
ing up a reserve, the Farmers Union
Grain Terminal Association gives
farmer-patrons proprietary invest
ment in their own business, through
stock, which draws interest like any
other sound stock. These funds are
reinvested in new activities.
The ST. Anthony & Dakota Elevator
Company was organized in 1886 by
three pioneers in the Minneapolis
milling and grain industries, John
Crosby, William H. Dunwoody and
Frank H. Peavey. The stock inter-
ests later were distributed among
younger members of the company
and the former Washburn Crosby
Milling Co.
At the time of its sale, the larg-
est stockholders were executives of
General Mills, Inc, the worlds larg-
est milling industry and one of the
best buying customers of Farmers
Union Grain Terminal Association.
OlllCSIS WcIc JdlltS Il. Dull plCol-
dent; Franklin NJ Crosby, vice presi-
dent, and James C. Wyman, vice pres
dent and general manager. Mr.. Wy
man will continue to act as general
manager Of these properties, and SUI
pervise the personnel. The st. An
thony line, however, was not affiliated
with General Mills, Inc.
Half Million Cash
A down payment of 100000 already
has been made for the new properties,
and the balance will be paid when
the property is acquired May 1.
All employees will be retained,
which will bring the number of per-
sons working for Farmers Union
Grain Terminal Association to nearly
500, in addition to 500 more who are
by country elevators affili
ated with Grain Terminal Association.
From Coast to Coast
Activities of Farmers Union Grain
Terminal Association now extend |
rom Spokane, Washington, where a
criminal elevator is operated, to SUI
oerior, Wisconsin, home of the 4,500,-
700 bushel terminal elevator built in
L941, and goes as far south as Iowa |
md Nebraska. In it's business ties |
With such coo-peratives as GLF in
New York state and the Southern
States Cooperative in Cincinnati,
ohio, Baltimore, Mr., and Richmond,
"a, the activities of Farmers Union
Train Terminal Association now ex-
end from coast to coast.
Farmers Union Grain Terminal AS
ociation also operates or owns ter
ninal elevators, with a storage space
n excess of 10 million bushels, in
minneapolis, ST. Paul, Superior, Wis,
Vililston, N. D., Shelby and Lewis
own, Mont, and Spokane, Wash. 1t
lso operates a durum mill at Rush
lily, Mimi, which also has terminal
levator space. 1t operates its own
eed mill in Minneapolis.
>dds AZ Million Bushels
The new acquisition adds another
~ million bushels storage capacity
nd enables the Grain Terminal to
andle at least another 10 million
ushels during the harvest season.
It present, the volume of grain ham
led averages, over the year, in ex-
ess of one million bushels week. II
The cooperative movement cannot +
@ static, but must either go forward
nd expand it's services, or contract.
The Farmers Union Grain Terminal /
ssociation was not built or managed !
} provide job security or to pile up f
'emendous cash reserves. 1t was
ased on the philosophy that cooper r
tive marketing is only an incidence a
, the general welfare of the pro- +
ucer. =
A cooperative should be managed Q
, soundly as possible and as safely q
) possible, but should use its re- n
,urces for expanion, rather than to v
low a large but idle bank balance il
The entire line will be operated on n
principles Patrons will i,
It patronage dividends which are an
tally declared by Farmers Union
rain Terminal Association.
Present officers of the Farmers
MON Grain Terminal Association