No. 4.] :\IILK. 37 



Disposing of the Product in a Co-operative Way. 



In setting before you the advantages of co-operation in 

 bujdng and selling, I can do no better than to cite to you 

 the origin, aim and achievements of the Spring-field Co- 

 operative Milk Association, of which I am treasurer and 

 manager at the present time. The history of the association 

 has now extended over a period of twenty years, and the 

 balance sheet last issued shows the association in a sound 

 financial condition ; in fact, the growth has been rather 

 remarkable, when the fact is taken into consideration that 

 there was not an institution of the kind to copy after. 

 Perhaps the successful growth is largely due to the loyalty 

 of our farmers to our institution. The officers are stock- 

 holders, and men Avho produce milk ; and the managers, 

 Avith one exception, have been men owning stock and pro- 

 ducino' milk. 



The purpose for which the co-operation was constituted was 

 co-operative trade, to wit, supplying the city of Springfield and 

 vicinity with pure and wholesome milk and dairy products. 



The amount of capital stock Avhen started was $16,000, 

 later increased to $30,000. The })ar value of a share was 

 $20, Avliich share represented one producing cow. The num- 

 ber of shares w^as 800. 



There is a code of by-laws, setting forth the manner of 

 electing officers, and their duties, etc. 



Division of Proceeds. 



At the monthly meeting of directors they shall apportion 

 to each stockholder his share of the net proceeds of the 

 business, the amount of which shall be determined by the 

 directors. 



No j)erson shall hold shares in the association to an amount 

 exceeding $1,000, nor shall any stockholder be entitled to 

 more than one vote on any subject. 



No member of the association, and no stockholder, shall 

 interfere with its business by selling milk either directly or 

 indirectly, under a penalty of forfeiture of his stock. 



T state here only a few of the bj'-laws, sufficient to show 

 how rigid and strong they were drawn. 



