^. 



rfrw <~>uv\Htt 



NEWS 



Farm Bureau meniKr patrons of Living- 

 ston Service Company, numbering 1,3~4, re- 

 ceived patrima.ce dividends on the past 

 years business averaging $31.26 each, -more 

 than twice their annual Farm Bureau dues. 

 Seven per cent preferred stock dividends 

 totaling $2.01S.2-). and S12,.sy~ S8 in patron- 

 age dividends were distributed at the annual 

 meeting of the company. Puntiac, November 

 16. 



Eighty-six per cent of the Farm Bureau 

 members patronized the company and their 

 purchases produced 8" per cent of the biisi 

 ness. Manager E. C. Campbell reported 

 remarkable gains in all lines during the 

 year, 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 4-1 in patronage dividends during 

 its seventh annual meeting, Morrison, No- 

 vember 18. More than "50 Whiteside County 

 Farm Bureau members were present. 



Patronage <.lividi-nds were diNtribiited to 

 1,218 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. "0. 



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 



itv sixth annual nutting at Murphysboro on 

 December 2, with a b.inner attendance 

 The Officers' and manager s reports revealed 

 the best year in the history of the company. 

 A tot.il of S'',sS662 was distributed 

 among Farm Bureau members in the form 

 of preferred stock and patronage dividends 

 Rates of p.itronage on rur.il sales were 1-4 

 per cent on lubricating oils and greases, 

 12 per cent on motor fuels, paint, tires, 

 anil miscell.ineous products, ~ per cent on 

 tank wagon sales of tlnrd grade gaso- 

 line, tractor distill.ite, and burner oils, and 

 the same percentage on sales through deal- 

 ers. L R. Marchaiit was the speaker. 



Fourteen hundred ninety-live dinners were 



ser\ed ,it the .innu.ll meLting oi Henry- 

 Stark Service C^unip.iuy in Kewanee, Mon- 

 day. December 6. atcordiiig to George F. 

 Hayes, presulent of the company. 



The conipanv tnnipletnl its ninth fiscal 

 year with a nmst encouraging report for 

 the stockholders. 



In addition to the sevm per Cent pre- 

 ferred stock disidends of S1,S.S2.25. the sum 

 of $-10.5(10 in p.itronage dividends was dis- 

 tribiited .It the meeting. This was compared 

 (o SIft.dOO in pa;rona,^e dividends in 193^. 



Manager Dale ^X'ilson reported sales to- 



lOS. G. KNAPP OF THE COOPERATIVE DIVISION. FARM CREDIT ADMINISTHA- 

 tion. Points to Illinois Farm Supply Co. — one of nation's largest co-op. purchosing 

 associations. 



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 e-ich 

 year. One of the largest is Illinois Farm 

 Supply Company which distributes more 

 th.in $1,000,000 of supplies per month. 



In 1936, 5-4 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 

 ce.-?t 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 2~ per cent 

 over the preceding year, and accounts re- 

 ceivable at 4.38 per cent of net sales. The 

 patron.ige dividend on rural sales ranged 

 from 13 per cent to 20 per cent; motor and 

 burner fuels 13 per cent; Soy Oil paint, 

 tiles, and other miscellaneous merchandise 

 I'i per cent; motor oils and grease 20 per 

 cent; and 11 per cent was paid on service 

 station and dealer sales, 



VC'alter I. Finck of Wyoming succeeded 

 R. J. Peterson of Toulon as director. 



I.. R. Marchant was the speaker and the 

 Kewanee Swing Stylists, Cleo I.eadley 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 Exiine was elected to 

 succeed Chas. W. Hennerberg as director 

 of the company. 



On October 31. 19.37 Kankakee Service 



Company completed its fmirth ye.ir as a 

 member of Illinois Farm Supply Company. 

 During that period the sales and net incmne 

 of the company have more than doubled 



Substantial gains in business were made 

 the past year with sales increasing 32.9^ 

 per cent and the net income 66 05 per cent, 

 according to the report of mana.ter Lyle 

 r\erist to the Farm Bureau members who 

 attended the joint annual meeting of the 

 F.irni Bureau and service company, Kan- 

 k,ikee, 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 II. G. W. Bunt- 

 ing was the speaker. 



Charles N. Whitebread, manager, reported 

 th.it $98,640.51 have been returned to Farm 

 Bureau member patrons in patrona,ce and 

 preferred stock dividends during the past 

 seven and one-h.ilf years. Sales for the 

 year totaled 520~,816.58, on which p.itron- 

 age dividends of $2 1,1 33. "8 were declared. 

 Approximately $11,000.00 of this amount 

 was distributed at the meeting. The balance, 

 $10,rss.-8, 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, 

 Farl Buck of Franklin Grove was elected 

 to succeed Wesley J. Attig. retiring chair- 

 man of the board. 



Gains of 29.3 per cent in Siiles, and 37.5 

 per cent in net income during the year were 

 revealed in Manager I. D, Bunting's report 

 (Continued nn pag^e ^0) 



I.A.A 



28 



I. A. A. RECORD 



