412 IOWA DEPARTMENT OF AGRICULTURE 



Donation to National Shippers' Conference 300.00 



Donation to National Conference on Marketing and 



Farm Credits 50.00 



Clifford Tliorne, legal services 1,250.00 



President's salary and expenses 2,307.12 



S. M. Corrie, assisting president 110.80 



Secretary's 'office, for 1916 and 1917 2,000.{>0 



Total 7,721.27 



Deficit on year's business $ 194.02 



This has been a g^ood year so far as receipts are concerned, and 

 very fortunately, too, because we had a rather bad year last year. 

 The heavy delinquencies are in a few counties, and if Mr, Sykes 

 can get around to them this coming year, I am quite sure they 

 will be pretty generally paid. Our expenses for the year also 

 have been considerably heavier than usual. The item of bank 

 collection fees, $45.25, is caused by the banks remitting for pledges 

 paid and deducting for exchange. 



A Member: Why do we squander that $20 on surety bond? I 

 don't believe this association needs that expenditure. 



The Secretary : I think our constitution provides for a bond 

 for the secretary and treasurer. 



The President : It has been the custom of the organization, as 

 well as of all other similar organizations. I think it is just a 

 "safety first" proposition. "We may not always have Mr. Wallace 

 and Mr. Goodenow for secretary and treasurer, and it is setting a 

 good precedent. Sometimes things go wrong in organizations 

 as well as in other institutions. Personally, I think it is all right. 

 It does not show any distrust of our officers. 



We will listen to the report of the treasurer at this time. 



Mr. Goodenow: Mr. Wallace's report does not deal with bal- 

 ances, and my account will probably make somewhat plainer just 

 how much money we have actually on hand. 



All thru the fore part of the season, until along in October, we 

 were very short of funds. Once, if I remember right, I wrote 

 Mr. Wallace that we had no funds at all. But I still paid the 

 orders as they came ; they were very few. I think I had prob- 

 ably one or two hundred dollars that I discharged from my own 

 account at that time, and carried along until later the funds 

 began to come in quite freely. Now we have a very nice balance, 

 and of course it is one of the best vears that we have ever had. 



