Page Six 



H,r..:\^-.,^ 



THE I. 



RECORD 



Agricultural Investment 

 -•V .--^ Company. ;.,..| -j 



THERE has been recently organized 

 in connection with the Transporta- 

 tion Bank of Chicago, the "Agricul- 

 tural Investment Company, 608 So. 

 Dearborn Street, Chicago, Illinois." The 

 similarity of names and address of 

 our Association with its affiliated and 

 associated organizations, and this 

 Company, seems to require a state- 

 ment from the Association setting 

 forth the relations of the two organ- 

 izations; in order to prevent and re- 

 move confusion in the minds of some 

 of our members and others. Neither 

 the Illinois Agricultural Association or 

 its officers or members of its Execu- 

 tive Committee, have any t;onnection 

 with or financial interest in either the 

 Transportation Bank of Chicago or 

 the Agricultural Investment Company. 



Mr. George C. Jewett, President of 

 the Transportation Bank of Chicago 

 and of the Agricultural Investment 

 Company, appeared before the Execu- 

 tive Committee in its meeting of Aug. 

 12, at the suggestion and invitation of 

 the officers of the Association. He 

 outlined the purposes of the Agricul- 

 tural Investment Company and dis- 

 cussed the subject of relations. His 

 statement follows and clearly sets forth 

 relations existing and should remove 

 any possible misunderstanding in the 

 matter. The Executive Committee of 

 the Illinois Agricultural Association, 

 has directed, for reasons above set 

 forth, that the statement offered by 

 Mr. Jewett in regard to the Agricul- 

 tural Investment Company, be pub- 

 lished in an official publication of the 

 Association, and is as follows: 



"As a courtesy to your executive of- 

 ficers I submitted to them a few days 

 ago a prospectus setting forth plana 

 for an Agricultural Investment Com- 

 pany which has just been organized to 

 operate in connection with the bank 

 which I am interested, and with which 

 you are familiar. I did this that they 

 might be apprised fully of what we are 

 attempting to do in behalf of the agri- 

 cultural industry. Your officers have 

 very graciously 

 asked me to come 

 here and present 

 to you, the mem- 

 bers of the Execu- 

 tive Committee, in 

 the same way the 

 salient points in 

 our further pro- 

 gram of agricul- 

 tural finance as 

 provided in the 

 Agricultural In- 

 vestment Company. 



"The Investment 

 Company is an Il- 

 linois corporation 

 capitalized for 

 $500,000. The stock 

 is being sold 

 throughout the 

 state to farmers 

 and others at one 

 hundred dollars 

 per share. Any 



GEORGE E. METZGER 

 Mr. Metzcer, Director of Organization, will have 

 charge of the staff of district men who will assist 

 the counties throuehout the state in their organi- 

 zation problems. Membership in the Illinois Agri- 

 cultural Association is on the upward grade as 

 shown by results of renewal campaigns held during 

 recent months. 



investments you may care to make per- 

 sonally or any assistance you may care 

 to render in the distribution of this 

 stock will be greatly appreciated. The 

 Agricultural Investment Company will 

 do three things. It will own the con- 

 trol of a Joint Stock Land Bank which 

 will provide . long term credit on the 

 amortization plan. The Joint Stock 

 Land Bank, of course, will be under 

 (Continued on page 8) 



Fruit Growers 



(Continued from page 5) 

 crop information and conditions, and 

 our growers have learned that keep- 

 ing their own organization reliably 

 informed works for their own good. 

 "A cooperative encounters another 

 difficulty when a marketing season 

 starts off at a price too high to dis- 

 pose of the entire fruit crop. Fruit 

 prices change rapidly and if the prices 

 start off at a high figure, only a part 



STEPHENSCW^ PROTESTS TO 

 STATE TAX COMMISSI^ 



Board. of Review Refuses to Take 

 Action on Ekjualizing Assessed 

 Valuations in County 



A FORMAL protest was made by 

 the Stephenson County Farm 

 Bureau to the Illinois Tax Commission 

 recently calling attention to inequality 

 in farm and city valuations existing 

 in that county. The study made by 

 the Farm Bureau tax committee and 

 John C. Watson of the I. A. A. shows 

 that to place farm lands on the same 

 average assessment as the city of Free- 

 port, would require an average cut of 

 24.7 per cent in farm valuations. Or 

 to place town and city lots on the same 

 average assessment as farm lands, it 

 would be necessary to have an average 

 increase^ 32.94 per cent in valuations. 



The lOTal Board of Review admitted 

 that the inequality exists, but refuses 

 to take any action for three reasons 

 as follows: They haven't the time, 

 they don't know how, and they have 

 been advised not to do anything. 

 I "We request that you take immedi- 

 ate action to bring about equalization, 

 either by sending a representative 

 from the Tax Commission to this 

 county to investigate the situation, or 

 by hearing our complaint and requir- 

 ing the presence of the Board of Re- 

 view at the hearing before they ad- 

 journ," said the message to the State 

 Tax Commission. 



:■''■■' '/<;:\: ■:':':- \^ 1 NEW DISTRICT ORGANIZATION LEADERS * 



Left to right: fitarvey D. Fink, L. F. Brissenden, R. J. Hamilton, Harry L. Hough, F. M. Higgins 

 and A. B. Culp._ These men will be stationed in various districts around the state to aid in maintaining 

 the Illinois Agricultural Association as the strongest state farm organization in America. 



of the crop can be sold. If the price 

 is too high, consumers buy only a 

 limited quantity or refuse to buy at 

 all. This causes an over-supply to ac- 

 cumulate and the prod^icer has to sell 

 a large part of his crop at a low price 

 and often loses part of it entirely. This 

 condition is more often brought about 

 by the buyers themselves than by the 

 producers. 



"For example, Illinois peaches started 

 at a high price this year. Buyers on 

 the ground were bidding ag^ainst each 

 other for the first cars. They cre- 

 ated a temporarily inflated market 



which meant heavy 

 loss to themselves, 

 and later resulted 

 in a weak market 

 for the larger per- 

 centage of the 

 crop. 



•'This conditioa 

 occurs in the mar- 

 keting of some 

 commodity every 

 season. However, 

 producers and buy- 

 ers are beginning 

 to understand each 

 other better. 

 Each group is be- 

 ginning to realize 

 that it has a com- 

 mon problem and 

 that the ultimate 

 consumer must al- 

 so be considered in 

 any successful sys- 

 tem of marketing." 



