: r 



plus of 11,70,324.10 for payment of 

 preferred stock dividends at the close 

 of their fiscal years. The 13-year total 

 cash dividends paid to member patrons 

 will exceed $9,700,000. 



An important trend during the past 

 fiscal year was the use of lower cost 

 transportation methods which sliced ap- 

 proximately $100,000 from the com- 

 pany's freight bill. 



The new Marine Terminal at Kings- 

 ton Mines and the one at Shawneetown 

 are operating to capacity. Large com- 

 pany-owned trucks are delivering pe- 

 troleum products from these water ter- 

 minals and from refineries to all parts 

 of the state. 



Dividends paid to member companies 

 this year will total $475,657.38 which 

 was $102,000 more than dividends dis- 

 tributed last year. During the year 

 the company invested approximately 

 $95,000 in water and trucking facilities. 

 Inventory investments have increased 

 to such a point that plans were out- 

 lined for increasing the paid-in capital 

 stock of the company at least $100,000. 

 The member companies are expected 

 to subscribe for the stock on receipt 

 of this year's patronage dividends. 



Feeds Gain 37% 



The Feed Division expanded rapidly 

 during the year with a gain of 37 pet 

 cent or 9,986 tons for the year. Woven 

 wire products moved up to 1,100 tons, 

 a gain of 371^ per cent, mixed fer- 

 tilizers 2,020 tons, and feeder equip- 

 ment and supplies doubled to $29,- 

 988.37. 



President Herndon discussed internal 

 problems of f>ersonnel and the duties 

 of management and directors. "When 

 we realize, " he said, 'that there is a 

 20 per cent turn-over in truck sales- 

 men each year, it is a challenge to 

 local managers and our field staff to 

 introduce and teach them the proper 

 use of our products ... I firmly be- 

 lieve that the personnel of our service 

 companies has reached the highest de- 

 gree of efficiency in the history of the 

 company. I always find in our best 

 companies good management, an in- 

 formed, active board of directors, a 

 sound financial structure and good cred- 

 it policy ... If and when price ad- 

 vances come because of the conflict in 

 Europe," he continued, "may I admon- 

 ish you to keep both accounts receiv- 

 able and company liabilities at the low- 

 est possible point. Then when the 

 conflict is over we will find our com- 

 panies in a strong financial position." 



All directors were reelected with two 

 exceptions: John P. White, Washing- 

 ton, in place of Thomas H. Wasson, 

 Elmwood, and Jessie I. Beery, Cerro 

 Gordo, who succeeds W. E. Rieget, 

 Tolono. Officers reelected include 



LABOR-SAVING DEVICES CUT UMESTONE COSTS 

 Shelby county fanners used 4000 tooa in two months, saved 2Sc a ton. 



^ateactina Jlintestone In SliQllfu Sountu 



By JOHN SPENCER 



The Shelby County Farm Bureau is coal cars. 



doing an excellent job of delivering 

 and spreading limestone under the 

 leadership of Farm Adviser Batson. The 

 county organization purchased in mid- 

 summer, three Baughman limestone 

 spreading devices and mounted them 

 on truck chassis owned by cooperating 

 truckers. 



A standard price of 40c per ton was 

 set for hauling and spreading within 

 five miles of Shelbyville. The cost of 

 limestone delivered figures about $2.35 

 per ton. Extra mileage is figured at 

 10c per load mile of 5 tons or 2c per 

 ton mile. By ordering from companies 

 who cooperate in the "I. A. A. sales 

 commission plan the Farm Bureau 

 member receives a 10c per ton refund 

 also. 



The Columbia Quarry Company co- 

 0{>erated by installing one of their elec- 

 tric rail car unloading devices which 

 has proved of great help. For this the 

 limestone is shipped in hopf>er bottom 



President Fred Herndon ; vice-president 

 H. A. Keele, Chesterfield; Secretary 

 Frank J. Flynn, Murrayville; Treasurer 

 R. A. Cowles, Bloomington. Other 

 directors reelected include: L. A. Ab- 

 bott, Morrison; George Chappie, 

 Dwight ; Charles Keslinger, LaFox ; and 

 H. P. Sauer, Murphysboro. 



Secretary Wallace was introduced by 

 lAA President Earl Smith. Chester 

 Davis, member of the Federal Reserve 

 Board had been scheduled to speak but 

 when it was learned that it might be 

 impossible for him to attend Secretary 

 Wallace consented to speak informally 

 at the Supply meeting following dedi- 

 cation of the farm chemurgic laboratory. 



E. W. Pleggc is in charge of unload- 

 ing, routing the trucks and figuring the 

 size of fields so as to get on the cor- 

 rect amount of limestone. He says they 

 often work until midnight and have 

 operated the unloader and trucks all 

 night on one or two occasions. 



This program was started August 1 

 and in the next two months, 4,000 tons 

 of limestone were delivered and spread 

 from one point. "Our limestone service 

 has kept down the price of limestone 

 delivered saving Shelby county farmers 

 approximately 25c per ton," said Batson. 



Hedge Fence§ and the Law 



Different viewpoints exist with re- 

 spect to the value of hedge fences. 

 Some people like them for their shade, 

 beauty, posts and wind protection. 

 Others dislike them because tney impair 

 the productive capacity of adjoining 

 land, are hard to trim and harbor 

 weeds. 



Because some people do not like the 

 injury caused their land by overhang- 

 ing hedge trees the State Legislature 

 passed a law back in 1874, providing 

 as follows: 



"—the owner— of a hedge division 

 fence shall, during the year after such 

 hedge has attained the age of seven 

 years, cut back or trim such hedge 

 fence to a height not to exceed four 

 feet, and shall at least once in every 

 two years thereafter, cut back or trim 

 such hedge fence to the height of five 

 feet: Provided, that the provisions of 

 this section shall not apply to any 

 hedge fence protecting either an or- 

 chard or buildings or wind break, not 

 to exceed thirty rods." 



X 



3 



16 



I. A. A. RECORD 



