498 THE MONTHLY BULLETIN. 



member of the Exchange he would have gotten it. Were it not for the 

 ahnonds sold by non-members of the Exchange, the speculators and 

 demoralizers of the markets would have nothing on which to operate 

 and would be forced out of the business. It is no less to the interest of 

 the consumer than it is to the producer to eliminate the speculator. 



The Almond Growers' Exchange has had a healthy growth from its 

 inception. It is placing the almond business on a firm foundation. It 

 has done much to eliminate speculation and to steady prices. It markets 

 the almonds of its members at cost. Its eciuipment for handling the 

 business, while efficient, is neither elaborate nor expensive. The aim 

 in view at all times is to return to the grower every dollar possible from 

 every sale made. It names and maintains a price based oii crop con- 

 ditions. It adopted and maintains a high business standard. Starting 

 without capital and without credit, it has advanced financially until it is 

 now in a position to handle the output of the State with ease. It has 

 already begun that development which will ultimately enable the Cali- 

 fornia' grower to make a strong fight for the almond trade of America. 

 It is but an infant now. When it reaches maturity it will be a giant 

 capable of commanding attention. It should have the hearty support 

 of every grower. Already it has developed a satisfactory- selling 

 scheme. It has reliable agents in all the large eastern markets. It has 

 gone into territory and developed trade in sections hitherto neglected. 

 It has taken care of all the old markets and has developed many new 

 ones. By its methods of distribution it encourages increased consump- 

 tion. In the aggregate this work has made a respectable showing. It 

 has studied the needs of various sections and has learned how best to 

 place the several varieties. What has the outside seller contributed to 

 this work ? 



The Exchange has studied foreign methods and has mapped a cam- 

 paign in the contest for what we believe to be our share of the business. 

 Noting that 80 per cent of the imported almonds are shelled, while but 

 5 per cent of the California product are shelled, and that there is a 

 better market for the shelled goods, the Exchange determined to make 

 that market available to the California grower. It took up the work a 

 year ago and now has, at Nineteenth and C streets in Sacramento, a 

 large fireproof building devoted exclusively to almond shelling. It is 

 eciuipped with modern machinery and labor saving devices. This year 

 extensive improvements are being made and the plant is being enlarged. 

 The capacity of the plant is now supposed to be one carload of meats 

 per day. This will enable the Exchange to compete on a commercial 

 scale with the imported product, and will also relieve at times congestion 

 in certain varieties. The cost of the shelling plant was about $1-4,000 

 and, best of all, it is paid for. 



This plant is the property of the loj^al members of the several associa- 

 tions. It is one of their investments made to insure the permanency of 

 the business. It represents money saved through co-operation. It 

 equips to make and save more money. It was built out of the surplus 

 from several funds remaining after the growers had been returned, 

 annually, the highest market price for their almonds. No special 

 assessment was ever levied for the building fund. No grower was ever 

 approached for a subscription. It was done so quietly and so easily 



