THE I. A. A. RECORD 



Page Seven 



Farmers National 



Grain Corporation 



Now Doing Business on All 

 Domestic Markets 



better than ever before and we don't 

 think the time is very far in the future 

 when all farmers will co-operate, not 

 only in marketing but in production." 



FARMERS' National Grain Corpora- 

 tion's nation-wide merchandising 

 organization practically was completed 

 with the purchase of the Quinn-Shep- 

 herdson grain firm at Minneapolis and 

 the establishment of regional head- 

 quarters for the spring wheat territory 

 at St. Paul, Minn., declares a recent 

 statement from the national organiza- 

 tion. Branch offices also will be main- 

 tained at Minneapolis and Duluth, 

 Minn., and Great Falls, Mont. The 

 district manager is H. F. Shepherdson, 

 formerly president of the Quinn-Shep- 

 herdson Company, which henceforth 

 will be operated under the name of 

 Farmers' National Grain Corporation. 



Closing of the Quinn-Shepherdson 

 transaction was anounced on July 26. 

 Thus one year to a day from its birth 

 Farmers' National Grain Corporation 

 not only was established and doing 

 business on all domestic markets but 

 was in contact with buyers of grain in 

 a score of foreign countries — or more. 

 For the first time in history the Amer- 

 ican grain producer was in actual con- 

 trol, through his own organization of a 

 world-wide co-operative grain market- 

 ing system. 



Co-Operative Benefits 



Under the date of July 21, the Union 

 Equity Co-Op. Exchange, of Enid, 

 Okla., a Farmers' National stockholder, 

 writes: 



"We have today checked our records 

 and find that one year ago today we 

 sold wheat at 8^ cents per bushel un- 

 der Chicago September options, basis 

 No. 1 hard Galveston. Today we are 

 selling wheat at 4 cents over Chicago 

 September basis No. 1 hard Galveston, 

 making a total difference of 12/4 cents 

 per bushel. We are getting more to- 

 day compared to Chicago September 

 options than we were a year ago. 



"We say the farmer's attitude toward 

 holding his wheat back on the farm has 

 had a lot to do with this. He has 

 helped himself in another way, by and 

 through his organization. The state 

 sales agencies and pools have done their 

 part, and Farmers' National Grain Cor- 

 poration has done its part, and last but 

 not least, the Federal Farm Board has 

 done its part, by assisting the co-oper- 

 atives in a financial way as well as by 

 taking sixty to seventy million bushels 

 of last year's crop out of the way." 



"We believe if it were not for the 

 co-operative effort the farmers would 

 be selling their wheat today at 50 cents 

 a bushel. The farmers are co-operating 



Soybean Marketing Assn. 



AT the last meeting of the execu- 

 tive committee of the Soybean 

 Marketing Association, the Illinois Ag.- 

 ricultural Association was requested to 

 provide management service for the 

 soybean co-operative. The provisions 

 of the agreement provide for compen- 

 sation of $480 for the first year, pay- 

 able in 12 equal instalments of $40 

 each. The contract embodies also the 

 following principles: 



"(A) That the management, at all 

 times, act only within the policies 

 adopted by the board of directors of 

 Soybean Marketing Association; 



"(B) That the personnel provided 

 for actively administering the affairs of 

 the association, be subject to the ap- 

 proval of the board of directors of Soy- 

 bean Marketing Association; and 



" (C) That all expenditures made or 

 authorized by the management be with- 

 in a budget authorized and approved 

 by the board of directors of the Soy- 

 bean Marketing Association." 



Inasmuch as the Soybean Marketing 

 Association will have no income to de- 

 fray expenses and pay its new manager, 

 J. H. Lloyd, until the crop is sold, the 

 directors authorized that $2,500 be ad- 

 vanced to the Soybean Marketing As- 

 sociation pending such time as the 

 organization has funds. 



Kewanee Business Men 



Repudiate U. S. Chamber 



Express Confidence in Farm Board 

 and Hoover 



Wool Marketing 



Approximately 221,000 lbs. of wool 

 have been consigned from Illinois to 

 the National Wool Marketing Corpora- 

 tion, according to figures compiled by 

 Ray Miller, director of live stock mar- 

 keting, the latter part of July. This 

 represents 13 carloads from 18 counties. 

 Checks representing advance payment 

 of 18 cents per lb. were mailed from 

 Boston on July 18. 



A plan to set up an Illinois Wool 

 Marketing Corporation next year is 

 now under consideration by the mar- 

 keting committee. It is contemplated 

 that such an organization will serve as 

 a regional for Illinois. Five hundred 

 thousand pounds of wool must be con- 

 tracted for in order to qualify as a 

 regional. • i 



Action was taken at the July meet- 

 ing of the I. A. A. Board to refer to 

 the committee on program the proposal 

 made by delegates to the recent 15 th 

 congressional district Farm \ Bureau 

 meeting that a discussion of 



A RESOLUTION passed by the Ke- 

 wanee Chamber of Commerce at 

 Kewanee, Illinois, relative to the action 

 of the U. S. Chamber of Commerce in 

 its last annual convention at Washing- 

 ton declares that: 



"WHEREAS, at the last annual 

 meeting of the Chamber of Com- 

 merce of the United States, its ac- 

 tion with respect to the f>olicies of 

 the Federal Farm Board and mar- 

 keting act created a situation of dis- 

 agreement that we believe was both 

 undesirable and unnecessary; and 

 "WHEREAS, we feel that we can 

 place confidence in the Federal Farm 

 Board and may rely upon it and 

 upon President Hoover's sincerity 

 and open-mindedness to the end 

 that they will not continue any pol- 

 icy that proves itself inadequate for 

 agriculture or injurious to the best 

 interests of the people of our coun- 

 try as a whole; 

 "THEREFORE, we feel that the 

 Federal Farm Board should receive 

 through the Chamber of Commerce 

 of the United States the co-opera- 

 tion of finance, business and indus- 

 try as well as agriculture to the 

 end that its iK>licies may be given 

 a fair trial. 

 "BE IT RESOLVED, THEREFORE, 

 that we dissociate ourselves from 

 the action taken by the Chamber of 

 Commerce of the United States and 

 that we express to the Federal Farm 

 Board our desire to be helpful to 

 them and to agriculture, state-wide 

 and locally; 

 "BE IT RESOLVED FURTHER, 

 that the copy of these resolutions 

 be mailed to the Chamber of Com- 

 merce of the United States, to the 

 Federal Farm Board and to state 

 and local agricultural agencies." 

 Following the reading of the resolu- 

 tion at its meeting on July 22 the I. 

 A. A. Board passed a motion that the 

 resolution be received and spread upon 

 the minutes of this meeting and that 

 the secretary be authorized to address a 

 communication to the Kewanee Cham- 

 ber of Commerce, expressing apprecia- 

 tion for the action taken. 



ismess 



As a result of a recent act passed by 

 congress, patents will be granted breed- 

 ers who develop a new plant, agricul- 

 tural or otherwise. 



Administration" be included on the 

 program of the next annual I. A. A. 

 convention. 



