72 BETTER DAIRY FARMING 



The first is an example of a farmer-owned corporation engaged in 

 the manufacture and wholesale distribution of feed; the other 

 operates as a local buying and distributing agency. Both have 

 been successful to date and each has supplemented the other. 



120. The Co-operative Grange League Federation Ex- 

 change, Inc. — This is, as its name implies, a co-operative corpora- 

 tion developed by the New York State Grange, the Dairymen's 

 League Co-operative Association, Inc., and the New York State 

 Farm Bureau Federation. The history of the organization of the 

 Exchange is about as follows: 



For a number of years prior to 1918 the New York State Grange 

 had attempted through various agencies to purchase farm supplies 

 for its members. In 1918, after some unfortunate experiences, its 

 executive committee authorized the organization of a co-operative 

 stock corporation, the stock to be subscribed by Grange members 

 and the corporation to be used to purchase farm supplies for the 

 members of local granges. 



The authorized capitalization was $100,000. For some reason 

 or other, only about $35,000 worth of stock was subscribed. This 

 corporation, known as the New York Grange Exchange, began 

 operation, and during 1919 and the early part of 1920 did a fair 

 volume of business. 



At this time, due to war conditions, prices were rising very rapid- 

 ly and many feed manufacturers and local dealers were taking 

 advantage of the situation to make a good deal of money. This 

 condition was noticed by farmers who became restive and who 

 began to demand through their organizations — the Grange, the 

 Dairymen's League, and the State Farm Bureau Federation — 

 that something be done to put them in a stronger position. Not 

 only were those engaged in marketing feed making undue profits, 

 but great quantities of inferior feed, seed and fertilizer were being 

 distributed. 



121. The New York State Agricultural Conference Board. 

 — The executive committees of the leading farm organizations 

 in New York State belong to a body known as the Agricultural 

 Conference Board which serves as a clearing house for all agri- 



