88 THE STORY OF THE U.F.O. 



in;the capital stock, the latter being now taken 

 almost exclusively by individuals. The turn- 

 over jumped from a million and three quarters in 

 1918 to eight and a half millions, most of which 

 was due to the newly established Live Stock 

 Department. Profits, too, were nearly $20,000, 

 but as over $21,000 of these were made in the 

 Live Stock Department alone the other depart- 

 ments together showed a slight loss. 



During this year the business of the Company 

 was divided into three departments, Live Stock, 

 Commission and Co-operative Trading. Under 

 the latter of these departments a number of 

 branch stores or warehouses were established, 

 stock for which was subscribed by those in the 

 particular districts concerned. The lack of 

 local business facilities had always been a great 

 handicap; a condition that was especially felt at 

 this time, when unusual effort was being made to 

 expand the Company's business. Two ways of 

 providing these local facilities were possible. 

 One was by linking up, and using, local co-opera- 

 tive societies then in existence, and encouraging 

 the formation of others like them; the second 

 was by establishing branches of the Central 

 Company, the stock being all subscribed (by 

 individuals) in the United Farmers Co-operative 

 Company, the latter establishing and operating 

 the branches. Mr. Loblaw, the new manager, 



