OTHER BUSINESS ASSOCIATIONS. 165 



J. V. &quot;Webster (President), of Alameda county; Calvin J. 

 Cressey (Vice President), of Stanislaus county; Thos. McCon- 

 nell, of Sacramento county; John G. Hill, of Ventura county; 

 J. C. Merryfield, of Solano county; John Lewelling, of Napa 

 county; Gilbert W. Colby, of Butte county; J. P. Chrisman, 

 of Contra Costa county; F. J. Woodward, of San Joaquin 

 county; C. S. Abbott, of Monterey county; F. A. Cressey, 

 Secretary. 



Current accounts are opened and conducted in the usual way, 

 and interest at the rate of one quarter of one per cent, per 

 mouth, is allowed on the minimum monthly balance. Deposit 

 receipts in sums of fifty dollars and upwards received, and re 

 ceipts given for the amounts, payable on thirty days notice of 

 withdrawal. These deposits bear interest at rates varying with 

 the current rate of discount. Deposits for fixed periods are 

 received, and interest allowed at the following rates : three 

 months, six per cent. ; six months, seven per cent. ; one year, 

 eight per cent. 



About this time, the Executive Committee deemed it advis 

 able to establish a Dairy Agency in San Francisco, and pro 

 ceeded to appoint Mr. J. Hegeler, of Sonoma County, who 

 opened a depot for the disposition of this class of products. 

 The bonds of this sub-agency were fixed at twenty thousand 

 dollars. 



The Farmers Saving and Loan Society of Stanislaus County 

 had organized in March, 1873, and incorporated with a capital 

 of two hundred and fifty thousand dollars. The spirit with 

 which the farmers were pushing these various interests was 

 shown at the meeting in Modesto, when four of their number 

 took fifty thousand dollars worth of stock. One hundred thou 

 sand dollars was subscribed on the spot. 



The Grange Warehouse in Modesto was provided for in the 

 same business-like manner, with a capital stock of one hundred 

 thousand dollars. 



Davisville Grange decided to incorporate with a capital stock 

 of fifty thousand dollars. 



Coliisa County called its Bank meeting February 25th, 1874, 

 and incorporated with a capital of two hundred and fifty thou 

 sand dollars, all of which was subscribed. As a local institu 

 tion, under judicious management, it is a perfect success, and 

 has benefited its patrons by relieving them of the necessity of 



