116 



they maintained an elevator in Waterville, Me., they paid al] 

 their clerks and all expenses, and declared a dividend of 30 

 percent beside. That is, on the one percent profit. 



A MEMBER : How many cars would they handle 1 



MR. GAGE : I think last year they handled in the vi 

 cinity of 2,000 cars. 



MR. WHARTON: Is it the purpose of your organiza- 

 tion to enter into co-operative buying or selling. 



MR. GAGE: Yes. We buy grain. 



MR, WHARTON: Your organization is regularly or- 

 ganized and incorporated under the incorporation law of 

 Massachusetts, 



MR. GAGE: Yes sir. 



MR. WHARTON: With stockholders? 



MR. GAGE: At $5 a share. We paid two dividends 

 last year. 



MR. WHARTON: Have you actually bought supplies 

 of grain and so forth? 



MR. GAGE : We have, yes sir. / 



MR.' WHARTON: With success? 



MR. GAGE : Professor Damon told me last Tuesday at 

 the State House that we had the largest percentage of sav- 

 ing of any exchange in the state. We had a business of 

 some $3200 and saved our members $341 and had $75 addi- 

 tional in the treasury, and declared two five percent divi 

 dends. 



MR. WHARTON: You have no central warehouse, a-^ 

 yet? 



MR. GAGE: No sir; we hope to eventually. That all 

 takes time. We have all these minor problems to solve. 

 We have got to teach our men that in union there is strength 

 and that they must pull together. They are doing very 

 well, 



THE CHAIRMAN: I think, gentlemen, we will have 

 to end this discussion at this time. I think it is very grati- 

 fying to note the intense interest in co-operative work at 

 present. Three or four years ago we talked about the possi- 



