declared on all products. Sixty-nine percent 

 of the Farm Bureau members patronized 

 the company during the past year, and their 

 purchases represented ninety-five percent of 

 the business. George E. Metzger was the 

 principal speaker. John Watson, Paris, was 

 elected to the board of directors. 



The sum of $1,333.50 in preferred stock 

 dividends and $23,065.00 patronage divi- 

 dends was distributed among 846 members 

 of the Iroquois Service Company at their 

 sixth annual meeting held December 21st, 

 Watseka. The past year was considered 

 the most successful in the history of the 

 company according to J. D. Bunting, man- 

 ager. Dividends of 171/2% on lubricating 

 oils and grease, 12% on rural sales of other 

 products except 8% tractor and fuel oils, 

 •nd 10% on station and dealer sales were 

 paid. 



A 33% net sales increase and a 38% net 

 income increase over last year was reported 

 at the annual meeting of the Peoria County 

 Service Company, held December 23rd, 

 Peoria. Patronage dividends of $22,781.00 

 were distributed to 1,036 Farm Bureau mem- 

 bers, an average of $22.54. The rates were 

 20% patronage dividend on rural sales of 

 lubricating oils, 14% other products and 

 8% on station and dealer sales. 



Five hundred persons attended the Rock 

 Island Service Company Annual meeting 

 in Moline. Patronage dividends of $4,450.- 

 89 were distributed among 371 Farm Bu- 

 reau members. Eighty-five percent of the 

 company's business for the past year was 

 with Farm Bureau members. L. A. Rahn 

 represented the Illinois Farm Supply Com- 

 pany. 



Patronage Dividends of $15,150.37 were 

 distributed to 762 Farm Bureau members 

 of the Rich-Law Service Company an av- 

 erage of $20.06 per member, during their 

 annual meeting held January 21st, at Law- 

 renceville. Eighty percent of the Farm 

 Bureau members patronized the company. 

 L. A. Rahn represented the Illinois Farm 

 Supply Company. Ira I. May, Newton was 

 elected to the Board of Directors. 



Patronage dividends of $15,364.45 were 



distributed to 738 Farm Bureau members, 

 an average of $20. 95 per member, during 

 the annual meeting of Madison Service 

 Company, December 17, Edwardsville. The 

 rates of patronage dividends were: 14% 

 on rural sales of Magic Aladdin gasoline, 

 Soyoil paint, tires and tubes; 20% on lube 

 oil and grease, and 10% on all station and 

 dealer sales. Ninety percent of the Farm 

 Bureau members patronized their company. 

 Fred E. Herndon was the principal speaker. 



Clark Service Company held its annual 



meeting January l4th at Marshal', at which 

 time patronage dividends of $4,914.00 were 

 distributed to 397 Farm Bureau members, 

 73% of the Farm Bureau members patron- 

 ized the company during the past year and 

 their purchases represented 91% of the 

 business. Fred E. Hemdon was the orin- 

 cipal speaker. T. N. Wright, Casey, F. C. 

 Welch, Dennison, and Chester Kurts, Mar- 

 tinsville were elected to the Board of Di- 

 rectors. 



650 people attended the annual meeting 



of Carroll Service Company January 25 at 

 Thomson. Patronage dividends paid to 

 Farm Bureau members averaged $23. 83. or 

 a total of $19,068.17. Rates of patronage 

 were: 16% on all rural sales except trac- 



In th« Pin*! Stat* Park, OgU County. 



$180,000,000 Saved 



On Farm Interest 



Approximately iiso,- 



JA. 000,000 has been knocked 

 ^^-^ / off the annual interest bill 

 on the total farm mortgage debt in the 

 United States, according to Governor 

 W. I. Myers of the Farm Credit Ad- 

 ministration. Lower farm interest rates 

 has been one of the first principles of 

 the Farm Bureau since its organization. 



This reduction in the amount of in- 

 terest which farmers have to pay is al- 

 most the same as increasing their pur- 

 chasing power by this sum, he pointed 

 out, because what is not demanded in 

 interest by the mortgage holder is avail- 

 able for payment of farm operations, 

 living expenses or savings. 



This direct saving results from the 

 refinancing program of the Farm Credit 

 Administration which now holds about 

 40 percent of the total farm real estate 

 mortgage debt in the United States. 

 Savings to the borrowers is not the 

 only benefit of the refinancing activi- 

 ties, but are reflected in better terms and 

 lower interest rates received by many 

 of the 60 percent whose farm mort- 

 gages are held by other creditors. 



Bushels of corn needed by the farmer 

 for interest payments on his land bank 

 mortgage are only one-fourth of the 



tor distillate and burner oils; 10% on ser- 

 vice station and dealer sales and tractor 

 distillate. 92% of the Farm Bureau mem- 

 bers patronized their company the past year 

 and their purchases represented 83% of the 

 business. Donald Kirkpatrick was the 

 speaker. 



1932 number and about half as much 

 as before the war, Governor Myers 

 said. In view of these facts, subsidized 

 interest rates for agriculture should be 

 confined to the emergency period. With 

 benefit of reasonable prices for farm 

 products and interest rates in line with 

 cost of borrowing money on a business 

 basis, the indebted farmer will have 

 ample time to work his way out. 



T. H. Brock, fonner farm adviser in 

 Macoupin County, has taken over the 

 same duties in Woodford County. He 

 succeeds H. A. deWerff, one of the 

 oldest Farm Advisers in point of ser- 

 vice in the State. 



H. D. Van Matre, Farm Adviser in 



Edgar County, starts Farm Adviser 

 duties in Iroquois County March 1. 

 He succeeds C. E. Johnson who is go- 

 ing into the Hybrid Seed Corn busi- 

 ness. 



J. L. Stormont is the new Farm Ad- 

 viser in Livingston County. Coming 

 from Moultrie County, he will succeed 

 S. G. Turner who will become as- 

 sociated with the Pfiester Hybrid Seed 

 Corn interests at EI Paso. 



O. W. Hertz is the new Farm Ad- 

 viser in Washington County. He suc- 

 ceeds L. R. Caldwell. 



A nation-wide campaign to union- 

 ize wage-earning agricultural workers 

 was announced by the American Feder- 

 ation of Labor February 18. A poten- 

 tial membership of 240,000 persons 

 was reported by William Green, presi- 

 dent. 1 



L A. A. RECORD 



