THE RED BOOM AT THE lEFFEBSON 

 Vtath Erarr Sacrt Fillad. 



CREI^NTIAI. COMMMTTTE 

 in til* ont»-rooni. 



MEETS 



PRES. GEO. L. POTTER HAS THE 

 Floor. Seated. Sec'y. Cha*. Schmitt 

 and Mgr. Hairiaen Fahmkopi. 



■^ 



Illinois Grain 



Goes Forward 



J PROGRAM for cooperative 

 ^ L grain marketing in Illinois 

 ^^^^ § to take the place of grain 

 handling operations of the Farmers Na- 

 tional Grain Corporation now being dis- 

 solved was outlined and favorably re- 

 ceived at the annual meeting of the Il- 

 linois Grain Corporation in the Jefferson 

 Hotel, Peoria, Feb. 12. 



Farm Bureau leaders from the major 

 grain areas gave the program hearty ap- 

 proval in a meeting with Grain Corpora- 

 tion and lAA officials the previous day 

 in the Pere Marquette Hotel. 



The gist of the plan is to capitalize 

 the Grain Corporation by the sale of 

 some 1125,000 of preferred 6% stock to 

 cooperative member elevators, the lAA 

 and County Farm Bureau. The lAA 

 board of delegates recently authorized in- 

 vestment of lAA funds up to 160,000 

 providing a like amount is raised by the 

 elevators. Many County Farm Bureaus 

 also have indicated their interest in sub- 

 scribing for stock. 



Completion of the program is depend- 

 ent upon the farmer elevator members 

 pledging for a two year period to market 

 at least 8,000 cars of grain and soybeans 

 annually through the Corporation be- 

 tween July 1, 1938 and June 30, 1940. 



EACH DISTRICT CHOOSES ITS OWN 

 Director in o caucus. Left to right are 

 leUen W. H. Ogg and Elmer Main. 

 Ford county. 



This is equivalent to about 12.000,000 

 bu., which amount the Company has 

 handled thru Farmers National annually 

 for many years. 



Under the proposed program County 

 Farm Bureaus would get more actively 

 behind the member elevators, encourage 

 more farmers to patronize and support 

 them, and develop ways and means of 

 increasing their volume of grain and 

 supplies handled. 



For this service, the County Farm Bu- 

 reaus would receive no compensation but 

 the Farm Bureau member patrons of 

 member elevators would have an oppor- 

 tunity to share in excess savings of the 

 Grain Corporation according to patron- 

 age. In other words there would be a 

 differential in favor of Farm Bureau 

 members who patronize the elevators 

 since Farm Bureau investments, person- 

 nel and influence are to be used in mak- 

 ing possible a sound and successful state- 

 wide marketing cooperative. 



The plan contemplates setting up mar- 

 keting offices of the Illinois Grain Cor- 

 poration at Chicago, St. Louis, Peoria, 

 and other downstate points. The leasing 

 of facilities for handling grain at Illinois 

 river markets also is being considered. 



Member elevators who have made sf)e- 



"DIRECTORS ARE NOMINATED THIS 

 way." Volume oi buainee* detenniuo* 

 the voting strength oi each eloTatoi. 



cial contributions to the Fanners National 

 Grain in the form of retains would be 

 reimbursed over a period of time for such 

 contributions out of apparent net savings 

 of the state corporation. Such payments 

 would be contingent on earnings or sav- 

 ings after setting aside adequate reserves 

 and a reasonable contribution to surplus. 



At the meeting of Farm Bureau presi- 

 dents and advisers on Feb. 11 sentiment 

 was unanimous for actively supporting an 

 aggressive grain marketing program. 

 Twenty-seven presidents — every one at- 

 tending — voted Aye when the question 

 was put. Not a single county leader 

 voted to delay the plan. "It's what we 

 need, let's give more aggressive support 

 to cooperative grain marketing through 

 the farmers elevators and the new Il- 

 linois Grain Corporation," summarized 

 the enthusiastic testimonials from county 

 presidents, farm advisers, and farmer 

 elevator presidents and directors attend- 

 ing the meeting. 



At the annual grain meeting. President 

 G. L. Potter outlined the high lights of 

 the new marketing program and reported 

 the findings of the sub-committee from 

 the Illinois Grain board composed of 

 Eugene Curtis, Arthur Burwash, and 

 Charles Schmitt, with Mr. Potter serving 

 as ex-officio member. 



Reporting for the management, Har- 

 rison Fahrnkopf, Manager disclosed that 

 despite the 1936 drouth, the company 

 handled 7993 carloads or 12,981,960 bu. 

 of grain and soybeans in 1937. Of this 

 amount, 1,846,339 bu. came from non- 

 members which indicates that the co- 

 operative made attractive bids frequently 

 above what others offered. Com volume 



(Continued on pate It) 



ITS ALL OVER NOWl 

 L. L Harris of Graymont Co-op. Ass'n. 

 and H. A. Koester o< Cissna Park Cer- 

 tiiy the Nominees. 



