SEVENTEENTH ANNUAL YEAR BOOK— FART VII 425 



In the meantime, the La Cross district farmers are angry and dis- 

 appointed. Some of them are trying to find out whether they have grounds 

 for action for civil recovery. Others are talking about a grand jury in- 

 vestigation, with the idea of putting somebody behind the bars. Mr. Boyd 

 still holds some notes, one of which is for $5,000, which he made for the 

 company in the National Bank of La Crosse, while manager, and later 

 took up. Mr. Boyd himself is said to be in Montana or some other w'est- 

 ern state. 



But this particular plant could not be made the basis of any just 

 estimate as to whether farmers' co-operative enterprises can succeed in 

 the packing house business. There are other plants in operation and 

 under construction, whose fate will determine the future of co-operative 

 enterprises of this character. The plant at "Wausau, which I visited, is 

 a model plant so far as one inexperienced can tell. It was capitalized 

 originally for $250,000, but the farmers of Wausau built this plant from 

 the ground up. In the early stages of their operations, Mr. Price at- 

 tempted to put in his hand, but he was kicked out. However, he is still 

 operating in Wisconsin, and Illinois, too. 



In Wausau, they managed to start with a board of directors who 

 were unusually competent men. The first president of their company is 

 a justice of the Wisconsin supreme court. This board carefully searched 

 the field and found a man whom I believe to be a competent packing 

 house manager. They employed him during the early stages of con- 

 struction, and they also consulted with the authorities of the United 

 States Department of Agriculture, in Washington. It is said to be an 

 ideal small plant. They have some eighteen acres of ground along the 

 railroad track. The building itself is four stories high, and the equip- 

 ment is capable of handling fifty hogs an hour. 



Mr. L. C. Hoopman, their manager, was for twenty-two years in 

 the packing house business. He lias worked for the large packers, but 

 ■for several years before he took his present employment, he was em- 

 ployed by the federal government as an inspector. He went to the 

 Wausau plant recommended as a man of high honorable instincts. The 

 board also secured — and this is very important — a competent auditor, 

 Mr. C. H. May. I think it important to mention here that Mr. Hoop- 

 man, in the days when the plant was being promoted, warned the 

 farmers that they need not expect any profit dividends under the first 

 three years, if they got any then. He understood the business diffi- 

 culties of starting against competitors who have been able to make the 

 government of England come to its knees. The plant is built on the 

 corner of the eigh teen-acre tract, which is divided into feed lots and 

 holding pens. Here are kept piggie sows and, in the summer-time, 

 feeders. 



In organizing this company, a fixed commission was paid to Mr. 

 G. H. Horrell. The stock was sold as follows: $100 per share for the 

 first $100,000, $106 per share for the next $50,000, $112 per share for 

 the next $50,000, $118 per share for the third $50,000, which brought into 

 the company a premium of $18,000 .above capitalization. The state- 



