THE U.F. CO-OPERATIVE CO. 89 



whose experience had been with chain stores, 

 preferred the latter plan, which was endorsed by 

 the Board of Directors and forthwith put into 

 effect. 



Inasmuch as a number of the Branch Stores, 

 which were then being established, were located 

 in towns, the question arose next as to the admis- 

 sion of townspeople, a problem which was finally 

 solved by issuing "Participation Certificates" to 

 urban residents; which certificates conferred 

 the privilege of trading but not of voting. 

 Special by-laws, providing for this, were sub- 

 mitted and passed at the next shareholders' meet- 

 ing, held in Massey Hall, December 16th, 1919. 



Meanwhile, in October, the U.F.O. had achiev- 

 ed unexpected and spectacular political success, 

 and two directors of the United Farmers Co- 

 operative Company (Messrs. Drury and 

 Doherty) were respectively Premier and Minister 

 of Agriculture for Ontario. The annual share- 

 holders' meeting for 1919 was, therefore, one of 

 peculiar interest and importance. The atten- 

 dance was greatly in excess of anything hitherto 

 attained, and enthusiasm ran high. 



Criticism, however, was not wholly lacking. 

 Mr. W. C. Good, the first President of the 

 United Farmers Co-operative Company, and a 

 Director until the winter of 1917-1918, publicly 

 called in question the whole recent policy of the 



