Milford chronicle., 1954-12-24
State Cooperative
Praised BY Ohioan
IContinued Efom page 0ne)

At@aAAtAAANeA NAAAAA NaaaG QMHy
insurance companies, 300 mutual
irrigation companies, 1,1OO nation
al farm loan associations, 500 pro-
ductiOn credit associations, 1000
rural electric cooperatives, and
nearly 2,000 mutual telephone com
panies, artificial breeding assOcia-
tiOns, and others.
There are probably more than
10000 farmer cooperative associa-
tions ID operation today to which
more than tWO-thirds Of the farm
ers belong, Mr.. Bluck summed
up on that phase. and then ex-
plained
Farmers are not alone in the
use Of cooperatiYes as thousands
Of other businesses are using the
cooperative technique to overcome
economic disadvantages and im-
prove their competitive position.
Although not publicly recognized
as cooperatives, their economic
function is the same.
Some notable examples include
no retail grocer buying assOcia-
tiOns. it is estimated that the gross
volume Of sales by cooperating
grocers in all associations amount
ed to nearly S9,0O0,OOO, 900 last
year almost equalling the total
volume Of all farmer cooperatives
together"
He also cited that some Of the
nations largest retail establish
ments and newspapers participate
in cooperatives and So per cent of
all life insurance is written by
mutual companies.
Tells OF Opportunities
Mr. Bluck said that 'snO secret
formula accounts for the produc-
tive capacity and living standards
which We enjoy they are the re-
suits OF the rights and oDpOrtuni-
ties protected by the laws for free
men TO combine management, 4
capital, and labor as individual
proprietorss business partnerships.
commercial corporations, and Co
operatives"
Although we land the family
type farm as most desirable, we
must recognize that, while it is
an efficient producing unit, it is
generally weak in all other busi-
ness functions, he observed.
AZ another point he commented:
Il IS very important that we
farmers understand that virtually /
all the non-farIn business coOpera- !
tives have been upheld and feel |
secure IN excluding the savings
returned to their members under |
contract. The 1851 Revenue Act
provides that exempt farmer CO.
operatives shall have their MARGINS
taken into account for income tax
purposes the same as nOn-exempt
corporations.
Presently both exempt and nom
exempt cOOperatiyes must have a
legal binding contract with their
members providing for distribution
Of savings and must advise each
member Of the dollar amount of
his share in the years savings
within eight and a half months fol-
lowing the end Of the fiscal year"
Boys Tell OF Institute
Five Future Farmers of Amerf-
ca boys told Of their experiences
at the American Institute of Co
operation at Cornell University
IheR were. Leonard Lambdin.
Ronnie McNatt, and Walter Reed
o. AlddletoWn, brought here bv
their instructor, George Rhoads:
Richard James. Laurel, president
Of the State FFA, and David Wood
ward, Wilmington.
Paul NJ. Hodgson, teacher-train-
"a at the University Of Delaware,
Who LED group Of boys at the
Cornell sessions, also discussed
he institute.
Robert Durham, Seaford. was
elected director to succeed I, d
5aulk, Wyoming, who was presi-
lent Of the board; and Elwood b /
iruWell FELTON,, was elected to
leceed N. G. Vaughn, LeWes, on
ne board. Paris G. Kirby, Milford
vas reelected a director. Mr.. Caulk
nd Mrs. Vaughn were inelieible
Or reelection as they had served
Wo three-year terms.
AT the organization meeting Of
ne board, Frank w. Richardson.
Using Sun, was advanced from
nee president to president to sue
eed Mr.. Caulk Paul W. Mitchell
iockessin, was elected vice. presi-
ent; Fl. Wallace Cook, Middle
own, was reelected secretarv and
feasurer, and w. u. McAIlister
'as reelected assistant secretarv
ts------..