246 THE MARKETING OF WHOLE MILK 



sending out a bulletin explaining methods of conducting 

 municipal coal yards. 1 



On the other hand, the view is frequently held that the 

 proper handling of many other commodities is as vital to 

 the public welfare as is the milk supply. The question is 

 raised: "If municipal milk, why not municipal groceries, 

 municipal drugs, etc. ? " 2 



Most proposals have not been very specific as to pro- 

 posed methods of acquisition and financing of the milk 

 business. Usually it has been proposed to purchase at an 

 appraised value the existing businesses. The exact method 

 would doubtless depend upon the extent of municipali- 

 zation. If all of the milk business is to be taken over, the 

 city would have to take over the business of all the present 

 dealers. If only a small part of the business is to be under- 

 taken, a desirable plant might be purchased or one might 

 be built. 



The original financing would undoubtedly have to be 

 done by bonding the city. In one instance, however, a 

 chamber of commerce has proposed to sell shares to pro- 

 ducers and consumers, the voting power to remain in the 

 hands of the chamber of commerce. 3 It might be feasible 

 to finance such an undertaking by issuing bonds for a part 

 of the price, then by issuing milk plant certificates for the 

 balance of the appraised value, these certificates to be 

 similar to preferred stock. The latter method would 

 probably be the most convenient for a city which was 

 already approaching its debt limit, since such certificates 

 would doubtless not be considered a part of the city debt. 



1 University of Wis. Mun. Ref. Bui. 4, May, 1918, reported in American 

 Ct*y, Vol. XIX, p. ii. 



2 Creamery and Milk Plant Monthly, Jan., 1917, p. 17, and Feb., 1917, p. 21. 

 8 Proposal by Chamber of Commerce of Corning, N. Y. 



