CO-OPEKATIVE STORE AT LOS ANGELES. 167 



but by careful management has achieved a greater success in 

 proportion to the actual investment than any similar institution 

 on the coast. 



The Farmers Bank of Dixon, (Solano county) went into op 

 eration less than a year ago with a capital of two hundred thou 

 sand dollars, and like the others, is to-day giving testimony to 

 the fact that farmers can conduct even a banking business with 

 safety and profit. 



The Grangers of Southern California being comparatively 

 isolated, felt the necessity of cooperative exertions even more 

 than the great wheat-growing counties had done. A cooper 

 ative store at Los Angeles, established with a capital of twenty- 

 five thousand dollars, has been satisfactory beyond their ex 

 pectations. The stock was mostly groceries and agricultural 

 implements. The stockholders realize the difference in the net 

 results of buying at wholesale for cash, and at retail on time. 

 But they reach out toward larger benefits. 



Their objects are stated to be: 



1. The establishment of one or more stores, warehouses, etc.; 

 the buying and selling of goods, machinery and agricultural 

 products; the borrowing and loaning of money; the buying, 

 holding and selling of such real estate as may be necessary for 

 its own use; and the conduct of a general mercantile business. 



2. Principal place of business, Los Angeles. 



3. Capital stock one hundred thousand dollars, divided into 

 two thousand shares of fifty dollars each, five dollars per share 

 to be paid on or before April 1st, 1874, and the balance in in 

 stallments, as may be called for by the Board of Directors, not 

 to exceed ten dollars per share per annum. 



4. None but Grange members can hold stock, and no person 

 can hold more than ten shares. 



5. Each family containing one Grange member can obtain all 

 the privileges of the company by holding one share of stock. 



6. Goods are to be sold to stockholders and their families at 

 as near cost as possible, and the usual prices are to be charged 

 all outsiders. 



7. All farm produce is to be bought or handled on -commis 

 sion by the company. 



8. Money to be loaned stockholders for legitimate farming 

 operations at the lowest rates of interest. 



It is also the intention of the company to assist stockholders 



