Page Four 



THE I. A. A. RECORD 



August y 1931 



Auditing Ass'n. at 



Membership Peak 



More Audits in June and July 



Than in Any Previous Year 



For Same Period 



Fred RlnKham 



WITH a total of 298 member 

 companies now being served by 

 the Illinois Agricultural Auditing As- 

 sociation, a new peak has been reached 

 in its membership 

 development. 



More than 50 new 

 members became af- 

 filiated with the As- 

 sociation during the 

 past 12 months, 22 

 coming in since Jan- 

 uary 1. 



The membership 

 is classified as fol- 

 lows: Farm Bureaus, 

 69; Home Bureaus, 

 5 ; Grain Elevators, 

 78; Livestock Associations, 28; Milk, 

 Dairy and Produce Associations, 32; 

 Insurance, 14; Oil Co-operatives, 56; 

 Miscellaneous, 16. 



Audits recently completed reveal that 

 the net income of farmers' elevators 

 and co-operative oil companies is less 

 than a year ago, county livestock asso- 

 ciations are showing an improvement, 

 and Farm Bureaus are on the up-grade 

 in net income due largely to increased 

 commercial activities, according to 

 Manager Fred E. Ringham. 



Both June and July this year were 

 higher in the number of audits than in 

 any previous year. July is always a 

 peak month, as June 3'0 closings are 

 second only to December 3 1 closings in 

 number. This year there were 30 com- 

 panies whose fiscal year closed on June 

 30 and 14 companies with semi-annual 

 or quarterly audits due. 



The total number of audits com- 

 pleted during the first half of 1931 was 

 183 as compared with 146 in the same 

 period last year. The total number of 

 audits made by the association since it 

 began operation seven years ago is 1,800. 



(Continued from previous Ptge) 

 rate of $4.84 on the $100; in 1909 a 

 tax rate of $4.90 on the $100. In 1919 

 it was $5.42 and in 1929, reduced to 

 $4.06. 



"Values were reduced and the tax 

 rate reduced, but taxes increased from 

 $140,165 to $917,180. How is it done? 

 In 1899 your taxes were extended on 

 the basis of one-fifth of total values; 

 ten years later on one-third; ten years 

 later on one-half; and at the present 

 time, are extended on the basis of full 

 valuations of property. 



"The solution of our tremendous tax 

 problem can be accomplished in two 



Soybean Association May : 

 Sell 2,000,000 Bu. in '31 



Farmers National Grain 



Corp. Buys New Space 



Farmers came into possession of an- 

 other large terminal grain elevator 

 through purchase of the 2,300,000- 

 bushel house of the Soo Line at Minne- 

 apolis. Acquisition was announced by 

 Farmers National Grain Corporation re- 

 cently. The plant is of modern con- 

 crete construction, electrically operated 

 and with sufficient ground for addi- 

 tional storage construction if required. 



Thirty-nine country elevators in 

 Utah and Idaho were also added to the 

 co-operative's facilities through lease 

 from two milling companies. Added 

 to a million dollar facilities program in 

 the Pacific Northwest and to proper- 

 ties acquired elsewhere in the grain 

 belt, Farmers National Grain Corpora- 

 tion is declared to be in excellent posi- 

 tion to handle the 1931 crop. 



mm^^s 



;.-i- — -i« 



The I. A. A. is now on the air Tues- 

 days, Thursdays and Saturdays at 8:15- 

 8:30 P. M. Central Standard time from 

 radio station WJJD, Chicago (1,130 

 kilocycles) . 



The program will be identified by the 

 Illinois state song, "By Thy Rivers 

 Gently Flowing, Illinois, Illinois," 

 played at the beginning and close of the 

 15 minute period. 



The daily program from 11:30-11:45 

 A. M. has been discontinued. The noon 

 hour broadcast will probably be re- 

 siuned after Oct. 1 when Chicago goes 

 back on standard time. 



Members are invited to write in and 

 comment on the I. A. A. broadcast. 



A radio news release service two to 

 three times a week to 14 midwest sta- 

 tions was inaugurated by the Depart- 

 ment of Information early in July. An- 

 nouncers are making liberal use of the 

 L A. A. news items. 



ways: First, by the people in an organ- 

 ized and constructive way demanding 

 4 reduction in public expenditures; and, 

 second, by finding some other sources 

 of revenue to take the place of that un- 

 just portion now being collected from 

 property." 



Grow^ers Conduct a Membership 



Campaign, Seek to Control Bulk 



of Commercial Crop 



AV. H. CoiiItnH 



THE Soybean Marketing Association 

 is now conducting an intensive 

 drive to increase its membership, ac- 

 cording to Manager Wilbur H. Coultas. 

 In 1930 the Associa- 

 tion handled more 

 than 1,150,000 bu- 

 shels of soybeans, 

 which represented 

 approximately 40 per 

 cent of the total 

 commercial volume 

 marketed in Illinois. 

 To be more effec- 

 tive, the Association 

 should strive to 

 double this amount 

 in 1931, Coultas be- 

 lieves. 

 "We have broadened our contacts 

 with processors and are in a position 

 to move this larger volume to good 

 advantage," he says. "The demand for 

 soybean oil is increasing rapidly in the 

 paint and soap industry as well as in 

 the edible refining trade. 



"More of our livestock feeders and 

 dairymen are learning about the superior 

 quahties of soybean oil meal as a pro- 

 tein supplement to their home-grown 

 grains. 



Saves a Step 



"Our Association is fortunate in 

 handling a commodity which does not 

 have to move through the various grain 

 exchanges. We are in a position to mer- 

 chandise our soybeans direct to the 

 processors, thereby saving one step in 

 marketing. '- • r 



"Volume control is a big factor in 

 determining price. When the Associa- 

 tion increases its volume to the point 

 where it will be handling the majority 

 of the Illinois commercial crop, then 

 it will have more influence in stabiliz- 

 ing the price to the grpwer on a satis- 

 factory level. 



"Even last year when we handled 

 only 40 per cent of the crop, our As- 

 sociation was instrumental in holding 

 the price up around $1 per bu. when 

 every other commodity was rapidly de- 

 clining, m;,. , ' ' ' ' ■'■ .: -■ ; ," • - ■•- ;:/. ■ ■ ■ -'." — "^- 



"Commercial soybean growers have 

 an opportunity to help themselves and 

 their market by organization and co- 

 operation through the Soybean Market- 

 ing Association. Our slogan for 1931 

 is, 'If there are commercial soybeans to 

 market, our marketing association 

 should sell them'." 



