/ 



< 



terpretalioti of Executive Ordipi- X l.'Jl 

 under the coile so that any country jfrain 

 elevator whosV lotaiJ business amounts 

 to not more than ten per cent of its 

 total bujiiness and not more than JlO.OOd 

 v^-ill not come uiidet; the N. R. A. retail 

 code at all. The Advisory Board further 

 recommends that any elevator whose re- 

 tail business sliphtly exceeds ten pfr 

 cent of its total business or is sliphtly 

 in excess of $10,000 may make applica- 

 tion for exemption upon a showinjr that 

 it will be competitively disadvantajred 

 in the absence of such exemption, either 

 partial or complete. -If this policy is 

 ed by N. R. A.- it;will greatly sim- 

 the entire code relationship of couii- 

 y elevators and will be. a distinct vic- 

 ory for the National Country Elevator 

 Code authority, which has all along 

 sought to have exemption for 'couhfry 

 elevators. / 



Commenting on-farm organization and 

 cooperation,- Mr. Huff declared that there 

 never ha9/i»een a permanent agriculture 

 established on a business basis in any 

 countrx durirp the past, but that his- 

 torically agriculture has merelj/becoinf 

 a tail to the kite of industi-j^ develop- 

 ment. : There must be a liv>*(g and vital- 

 ised nioveme/lt in agricufture. he stated. 



to prevent 



thi 



from happening 



in this^uiitryt 



Ryferring to the so-called "farmer 

 Min-dealer commission" which many be- 

 lieve was set up to whitewash the grain 

 exchanges and 'prevent the passage of 

 needed additional regulatory lotrislation. 

 Mr. Huff said: 



Corners .\nd Tnngle-i 



"In ai'tiearing before this ("oii!iii:-si(Mi 

 1 was asked whether f thought it ln-tter 

 to have free aird open markets or (niv- 

 ernment jregulation. I replieil that we 

 •never have had free and open n.arKets 

 in thi.s country: we have had c«irner>. 

 triangles, rectangles and other tangles 

 with the result that in spite of the rules 

 of the Exchanges the Government has 

 had to intervene in order to maintain 

 any semblance of a free and open mar- 

 ket. It is not a question of. whether we 

 shall have free and open markets or 

 Government regulation. but rather 

 whether we shall be able to have suffi- 

 cient regulation by the Government to 

 keep the present marketing system at all 

 ser\iceable to the producer." 



D. M. Hardy, president of the St. Louis 

 Bank for Co-operatives, stated that loans 

 had been made to 33 co-operative eleva- 

 tors in Illinoi.s, 10 of which are members 

 of Hlinois Grain Corporation. In the past, 

 said Hardy, loans have been made not so 

 much on the resources of the elevator 

 and its ability to pay the money back as 

 on the financial standing of the directors 

 who sign the note. In our loans we're 

 leaving the directors out of it. The re- 

 sult is that so:;ie loans are not being 



f f t f 



1935 OFFICERS AND DIRECTORS ILLINOIS GRAIN CORPORATION 

 Front row left to rifcht: Eugene Curtis. Fred Romine. G. C. Johnstone, president. Walter Thomat. 

 . H Watson. 

 Center rou : H. K. Johnston. Harrison Fahtnkopl. manager. E. E. Stevenson. Geo. L, Fottar. 

 r, Lawrenee. B. L. Baird. Charles Schmitt. secretary. 



Top row left to nphi H. 5 J'^V Ralph Allen, Fred .Ziinnif rnian, A..R, Wriirht, vice-president, and 

 D, Barton, field man. Roltt. A. Coules. treasurer, is not in the pictnre, ^ 



con- 



-•■lis 



It!.- 



made. 

 .The fidloxViiig le-^oliit'.or.s were adopted: 



1. 



I'tit.i ;i h.irti uvttiiK*- t'f mdu.-.triai jti-t- 

 diii'tioii Willi eonpeiiuent lower priee.s fur 

 riiaiiuf.-iitured jrood.s is resior-'d in this 

 country a'lul normal fttrt-i.irn in.li-kt'ts for 

 aiirii ulttir.il nroiiiuts .-ir»' ri-t .^tahlisheil on 

 a sound business basis, we believe it Is l<» 

 till best Interests of .\merioan airrieul- 

 Hire to k. et) farm iToiliiction in adjiist- 

 ni'tit with the existintr Alemand at |tat-it\ 

 PI iei-s. To this ei;d we vitt:orot)sl\ uri^f 

 Keneial siiiiport of . asiiieultiiral a.ljust- 

 inent programs 



W. h.-lit ve that tli.- best inl.r.'st,< of 



^farm'rs will be s. rved bv am' !iilni--nt ■u 



Itie .\.Uiist!n.-nt .-Xct. and modileanon of 



.-idniinistrative i\ilini;s in crop a.l iii.-tMi'-ni 



iiroi^rams to: 



1. Make possible si>readttic proc-ssiim 

 tax- s f4ir iiaymeiit i>f bi netits ftir arr'-atTM 

 :idjnstni'-in ov.-r a lartr.-r numb.-r of farm 

 prodnets. wlii<-h are din-itlv or iii.iii .-' ilv 

 1" Tu-iilfii b\ siieh adjiistiTi€-nt : 



2 .\d.iiist Individual allotnit-nti" of eo:.- 

 tr.irt signers, !n eases where .«iich .illot- 

 nu-iits art- irrossly in, iiviitable. 

 fornianee with Rood farminp ; praeti.' 

 to I'l re>-ntai;e of a.-r.-.ipe In =basio 

 in iltr- pritiu-iil.-ir » "in tnunit .\- wli- i". 

 farm is located: 



3. Give eounty allotment eommitt.-.-s 

 wid-r powiTs in adjtistinc individual al- 

 lotm. nt." subjeet to review of th- stat^ 

 allotment ei>niniiti-. and the Se.-r.-tavv of 

 .\S.'riellltll!-e. 



II. 



WHKIlKAS tio flrain Fimir. .- .\. t. in 

 its present form, does not fully proti et the 

 rj;:-hts of farmers' e<»operative m.irketintr 

 assoeiations operating on the public com- 

 modity exchanKes of the country as Cap- 

 per-Volstead cooperatives, so as to guar- 

 antee their continued operation on such 

 exchanses pending litlcation and court 

 decision on matters pertainins: to all'-ced 

 violations of rules and m:iilations. and 



WHRnE.\.«;. -n-,- firmly b-lieve that the 

 act should sp.cifioallv provide and per- 

 mit cooperative associations, with mem- 

 bership in public commodity exehanRes 

 to compensate tlo-ir reizion.al local mem- 

 ber a.'-'sociations upon a commodity unit 

 basis for organization and fi- Id services, 

 and. 



\VHKRE,\:5, additional r..•^yers are 

 needed hy the Secretary of .Vsriculture, 

 under the provisions of this act. to repcu- 

 iate futures trading-, in the Interest of 

 producers of farm products and the pub- 

 lic at lartre. therefore. 



I:E it nK.-^tH.VKIi. that the Illinois 

 (ir.-uii ('(.'rporalion in annual meeting as- 

 si-nibled. urire the p.-issatre of the so- 

 calit .1 .lon'-s bill ametidini; the Grain Fu- 

 tures .Act now periil:ir-r before the pres- 

 ent St ssion of Congress, with appropriate 

 ameiidmeiits definlnir cooperative associa- 

 tions as *'at>per-\*olpt.-ad assticiatlons. and 



.tlloivirifr such ct>operative associations 

 iiI)on public t-ommodity exchanges to 

 compensate tlieir rt-Kionalf or local mem- 

 ttt r associations for services perfttrnted 

 iipoTi a commodity unit b^Bis. op dthcr- 



WiSe. ^ 



HI. 



W M K KM .\ .< , Til-- ctimmission launchctl 

 ittt-ntly h\ ilif Farmers Vatitinal Grain 

 I 'Cillers ,\s.socia ( ion has been holding 

 lit aiinits 111 leading t'-rmlnal tcraln mar- 

 keis, at a time when the bona fide prraln 

 fanners of the nation are uri^ins: eraln- . 

 , xchaiiLT'. i'-LTisl,! tion, to protect their in- 

 t.-r' St ami the public Interest: and. 



tVHKI'.K.VS, the feellne that the com- 

 mission is not a dIsintt-restedfact-findinK 

 auenc\, workinjr in bt-lialf of airricultiire, 

 pr'-\ents niany farm leaders fr.tm testl- 

 f\i'.i: who wtmld like to end abuses in 

 fuiurts tradinK and further aafesuard the 

 r-^-lits of t-ooperatives on the exchatm'-s . 

 .-.nil, 



U111-:|{K,-\S, the preponderanct- of testt- 

 iii'iiS at these hearings has come from 

 -■rain tie.alers and processors, all of which 

 luis It iiiied toward pivinjr these contract 

 inaik'ts .a clean bill of health: now, 

 III' !-efore. 



|:K it RESOI.VKD, that when the r,.- 

 porl of this commission is submitted to 

 I'oncress. that the Illinois delectation Iti 

 fonirress take coRnlzance of the sponsorB 

 ami p.arentaKe of this commission and its 

 .lose relationship with the so-called Brain 

 trade, before jrivinir serious consideration 

 Itt stich report 



,^. R, WriKht, 

 A, J, Ollinilan, 

 EuKene Curtis 



$500,000 Back To Shippers 



Corn-belt farmers, mostly from Illi- 

 nois. Indiana and loNva, will receive about 

 $.">00.(100 in commission refunds as a re- 

 sult of a recent court decision upholding 

 the order of Secretary Henry .^. Wallace 

 of early last year reducing livestock 

 commissions 20 per cent. 



This amount represents accumulations 

 since .-^pril, 1934, which were ^ ordered 

 impounded br the court when a tempo- 

 rary in.iunction was granted the commis- 

 sion men to prevent the reduction. The 

 Chicago Producer.* Commission Associa- 

 tion in.-^tituted the 20 per cent reduction 

 immediately and has been operating on 

 that basis ever since. 



1 



I. A. A. RECORD 



