THE FARMERS' UNION 245 



first day. By May, 1925, the bank claimed to have had $500,000 entrusted 

 to its care, but nevertheless it turned out to be a short-lived affair. 63 



During and immediately after the first World War, the Iowa Farmers' 

 Union experienced a tremendous spurt in business activities. The coopera- 

 tive store became especially popular. These stores were of two types: 

 branch stores, owned and controlled by the state exchange, and the in- 

 dependent locals. There were 125 of the latter under the control of the 

 state exchange. Many stores appear not to have cooperated with the central 

 organization any too well, if the numerous purchases which they made 

 from traveling men who represented the old-line warehouses can be 

 considered a criterion. 64 



The Iowa Farmers' Union also undertook a variety of cooperative mar- 

 keting and purchasing activities during the 1920*8. It acquired livestock 

 firms in Chicago and South St. Paul, and it entered the insurance business 

 in 1922 with the establishment of the Farmers' Union Mutual Life In- 

 surance Company, a company which, by 1929, was operating in nine states. 

 By that same year the Farmers' Union Mutual (Fire) Insurance Company 

 had approximately $55,000,000 worth of insurance in force, and was 

 chartered to do business in Iowa, Illinois, North Dakota, and Missouri. 

 The Farmers' Mutual Automobile Insurance Association, chartered in 

 1928 to operate in Iowa and North Dakota, specialized "in a full-coverage 

 policy or protection against all manner of hazards incident to automobile 

 operation collision, public liability, property damage, tornado, theft, 

 fire, hail, etc. all in one policy." The Farmers' Union Service Associa- 

 tion handled "practically every commodity necessary to the farm from 

 farm machinery of every description to food products, stock feeds, radios 

 and automobile accessories." The annual volume of business conducted 

 by this association in 1929 approached a million dollars. At that time the 

 Farmers' Union Co-operative Oil Association had in operation no less than 

 thirty-one bulk and filling stations located in all sections of Iowa, with new 

 stations opening every week. 65 



Equally remarkable was the progress of the cooperative program among 

 the farmers of the northwest states. Here, as in other Farmers' Union 



63. Missouri Farmer (Columbia), May 15, 1925. 



64. Nebraska Union Farmer, November 24, 1920. 



65. Iowa "Year Boo\ of Agriculture, 1929, pp. 352-56. 



