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MEWS 



Farm Bureau member patrons of Living- 

 ston Service Company, numbering 1,374, re- 

 ceived patronage dividends on the past 

 year's business averaging $31.26 each, more 

 than twice their annual Farm Bureau dues. 

 Seven per cent preferred stock dividends 

 totoling $2,015.24, and $42,897.88 in patron- 

 age dividends were distributed at the annual 

 meeting of the company, Pontiac, November 

 16. 



Eiehty-six per cent of the Farm Bureau 

 memoers patronized the company and their 

 purchases produced 87 per cent of the busi- 

 ness. Manager £. C. Campbell reported 

 teinarkable gains in all lines during the 

 fear, lauded members for their loyal sup- 

 port. 



The rates of dividends paid were 22 per 

 cent on lubricating oils and greases, 20 per 

 cent on Soyoil paint, tires, spark plugs, and 

 other miscellaneous rural sales; 15 per cent 

 on tank wagon sales of kerosene and gaso- 

 line, and 10 per cent on tractor fuels and 

 burner oils; and 12 per cent on service 

 station and dealer sales. 



Fred E. Herndon, president of Illinois 

 Farm Supply Company, was the principal 

 speaker. 



Whiteside Service Company distributed 

 $21,118.44 in patronage dividends during 

 its seventh annual meeting, Morrison, No- 

 vember 18. More than 750 Whiteside County 

 Farm Bureau members were present. 



Patronage dividends were distributed to 

 1,248 members who represented 98 per cent 

 of the Farm Bureau membership. Divi- 

 dend rates ranged from 11 per cent to 15 

 per cent, and the average check was $18.70. 



The entire board of directors, with L. A. 

 Abbott, president, was reelected. C. H. 

 Becker of Illinois Farm Supply Company 

 was the speaker. 



The Twin County Service Company held 



its sixth annual meeting at Murphysboro on 

 December 2, with a banner attendance. 

 The Officers' and manager's reports revealed 

 the best year in the history of the company. 

 A total of $7,386.62 was distributed 

 among Farm Bureau members in the form 

 of preferred stock and patronage dividends. 

 Rates of patronage on rural sales were 14 

 per cent on lubricating oils and greases, 

 12 per cent on motor fuels, paint, tires, 

 and miscellaneous products, 7 per cent on 

 tank wagon sales of third grade gaso- 

 line, tractor distillate, and burner oils, and 

 the same percentage on sales through deal- 

 ers. L. R. Marchant was the speaker. 



Fourteen hundred ninety-five dinners were 

 served at the annual meeting of Henry- 

 Stark Service Company in Kewanee, Mon- 

 day, December 6. according to George F. 

 Hayes, president of the company. 



The company completed its ninth fiscal 

 year with a most encouraging report for 

 the stockholders. 



In addition to the seven per cent pre- 

 ferred stock dividends of $1,882.25, the sum 

 of $40,500 in patronage dividends was dis- 

 tributed at the meeting. This was compared 

 to $16,000 in patronage dividends in 1935. 



Manager Dale Wilson reported sales to- 



lOS. G. KNAP? OF THE COOPERATIVE DIVISION. FARM CREDIT ADMINISTRA- 

 tion, PoinU to Illinois Fonn Supply Co. — ona of notion'* lorgeat co-op. purchoaing 

 oasocicrtions. 



Large scale co-operative purchasing or- 

 ganizations save farmers of this country 

 millions of dollars annually, says the Co- 

 operative Division of the Farm Credit 

 Administration. 



There are 105 such associations (see 

 map) which distribute more than 200 

 million dollars worth of supplies each 

 year. One of the largest is Illinois Farm 

 Supply Company which distributes more 

 than $1,000,000 of supplies per month. 



In 1936, 54 large scale cooperatives 



did $128,363,000 of business, returned 

 patronage dividends of 2.6 per cent of 

 sales. During the same time, Illinois 

 Farm Supply Company returned 10.1 per 

 cest of total sales to Farm Bureau patrons 

 from nearly |11,000,000.00 of business. 

 "In five years the IFS has returned 

 $3,589,172.99 to patrons. No other 

 purchasing organization, with the excep- 

 tion of Fruit Growers Supply Company 

 of California, can show a similar record 

 of return to stockholders or patrons," 

 says L. R. Marchant, manager. 



taling $333,594.51, a gain of 27 per cent 

 over the preceding year, and accounts re- 

 ceivable at 4.38 per cent of net sales. The 

 patronage dividend on rural sales ranged 

 from 13 per cent to 20 per cent; motor and 

 burner fuels 13 per cent; Soy Oil paint, 

 tires, and other miscellaneous merchandise 

 15 per cent; motor oils and grease 20 per 

 cent; and 11 per cent was paid on service 

 station and dealer sales. 



Walter J. Finck of Wyoming succeeded 

 R. J. Peterson of Toulon as director. 



L. R. Marchant was the speaker and the 

 Kewanee Swing Stylists, Cleo Leadley and 

 Betty June McGrath, furnished the enter- 

 tainment. 



Geo. Swaim, farm adviser, reported 288 

 new farm bureau members signed the past 

 year. 



H. W. Yohnka of Exline was elected to 

 succeed Chas. W. Hennerberg as director 

 of the company. 



On October 31, 1937 Kankakee Service 



Company completed its fourth year as a 

 member of Illinois Farm Supply Company. 

 During that period the sales and net income 

 of the company have more than doubled. 



Substantial gains in business were made 

 the past year with sales increasing 32.95 

 per cent and the net income 66.05 per cent, 

 according to the report of manager Lyie 

 Everist to the Farm Bureau members who 

 attended the joint annual meeting of the 

 Farm Bureau and service company, Kan- 

 kakee, December 10. Dividends totaling 

 $10,260.08 were distributed at the meeting. 



Talmadge Defrees, vice-president of Illi- 

 nois Agricultural Association, and Fred E. 

 Herndon, president of Illinois Farm Supply 

 Company, were the speakers. 



Six hundred Farm Bureau members ig- 

 nored zero weather to attend the seventh 

 annual meeting of Lee County Service Com- 

 pany, Amboy, December 11. G. W. Bunt- 

 ing was the speaker. 



Charles N. Whitebread, manager, reported 

 that $98,640.51 have been returned to Farm 

 Bureau member patrons in patronage and 

 preferred stock dividends during the past 

 seven and one-half years. Sales for the 

 year totaled $207,816.58, on which patron- 

 age dividends of $21,133.78 were declared. 

 Approximately $11,000.00 of this amount 

 was distributed at the meeting. The balance, 

 $10,133.78, will be paid at a later date. 

 The average dividend was $22.94. 



One hundred per cent attendance at all 

 directors' meetings during the year char- 

 acterizes the interest of the board members. 

 Earl Buck of Franklin Grove was elected 

 to succeed Wesley J. Attig, retiring chair- 

 man of the board. . i 



Gains of 29.3 per cent in sales, and 37.5 

 per cent m net income during the year were 

 revealed in Manager J. D. Bunting's report 

 (Continued on page 30) 



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