Page Twelve 



THE I. A. A. RECORD 



February i 1932 



Tazewell Service Co. 



Pays 15% Cash Dividend 



Annual Meeting First to Be Held 

 In New^ Building at Pekin - 



as surplus. Walter Frazee is president Refrigeration and Hard 

 and George Storey, secretary. Directors 



Approxi- 



Tazewell 



THE Tazewell Service Company had 

 sufficient earnings during the past 

 year to pay a 15 per cent patronage 

 dividend to Farm Bureau members who 

 were customers of the company, it was 

 revealed at the recent annual meeting 

 in Pekin. '^/■Jr..,-;': '.'::s ■:'■■/'■-.,."■.;:".■ :^.::';V; 

 More than a million gallons of SER- 

 VICE petroleum products were dis- 

 tributed by the company, 

 m a t e 1 y 2,800 gallons of 

 kerosene, gasoline, oil and 

 grease were sold daily to 

 farmers of the county. 

 These sales represent a gain 

 of 214.9 per cent in gaso- 

 line, 138 per cent in kero- 

 sene, 115.9 per cent in lubri- 

 cating oil, and 200.9 per 

 cent in grease during the 

 year in comparison with the 

 seven months' period of 

 operation during the pre- 

 ceding year, according to 

 Clyde Woolsey, manager. 



On the basis of volume 

 of products handled by each 

 of the 47 local service com- 

 panies associated with the 

 Illinois Farm Supply Com- 

 pany during the past year, 

 Tazewell Service Company held seventh 

 place in gasoline, twelfth in kerosene, 

 fourth in lubrication oil, and fifth in 

 grease. 



Three Storage Plants 



The company operates three bulk 

 storage stations, located at Pekin, Dela- 

 van, and Richmond Crossing, with eight 

 service trucks operating throughout the 

 county. Further distribution is made 

 from ten privately owned and operated 

 filling stations located at various points 

 in the county. 



The net earnings for the year on the 

 basis of paid in capital stock represents 

 a profit of 97.7 per cent on the invest- 

 ment. The sum of $1,398.25 was paid 

 in dividends on preferred stock in addi- 

 tion to patronage refunds totaling 

 $15,648.25. More than $5,000 was 

 added to the reserve fund. 



One farmer will receive more than 

 $500 in patronage refunds for the year's 

 purchases, thirty members more than 

 $50, 60 members more than $25, and 

 410 more than their annual Farm Bu- 

 reau dues. Nearly 350 non-members 

 bought supplies totaling $27,500 from 

 the company, which was approximately 

 23 per cent of the sales. The profit on 

 this made up most of the fund set aside 



for 1932 are the same as they were last 

 year. 



Opening Event 



The annual meeting of the service 

 company was the opening event for the 

 new Farm Bureau building at Pekin 

 which is one of the largest and finest 

 of its kind in the United States. It was 



Roads Affect Dairying 



Mergers in Milk and Dairy Indus-; 



try Reveal Need for Producer 



Organization 



County Farm Bureau's neir office building: houses 

 the orgrnnication's many activities. 



ILLINOIS dairy farmers, more com- 

 pletely organized than most other 

 producers, are faced with new prob- 

 built by the Tazewell County Farm igms resulting from recent important 

 Bureau and associated organizations to developments affecting the industry, 

 house the offices of the various com- j, fi. Countiss, director of dairy mar- 

 panies and provide auditorium facilities keting for the I. A. A., said in his 

 for meetings. annual report. 



Farm Bureau members came in such The development of a network of 



hard roads, improved refrig- 

 eration, and the tendency 

 toward increased production 

 of milk for the fluid market 

 are at the bottom of some 

 of the new problems which 

 will have to be worked out 

 in the near future. 



A great merger is now 

 taking place in the dairy 

 industry, the dairy depart- 

 ment report states. It makes 

 possible a transfer of milk 

 from one plant to another 

 of the same company or 

 from one milk shed to an- 

 other in times of stress or 

 disagreement. .,: 



Haul Long Distances 

 The development of hard 

 surfaced roads and improved 

 numbers from all corners of the county refrigeration makes possible the trans- 

 to dedicate the new structure that the portation of milk over long distances, 

 assembly room and hall in the basement which was not true a few years ago. 

 were crowded to capacity. The Taze- The tendency toward increased produc- 

 well Bureau deserves much credit for tion of this perishable product is also 

 completing a venture like this in a year a problem confronting the farmer who 

 such as 1931. The building will serve undertakes dairying as a life work, 

 as the permanent office for the Farm Bargaining associations resisted price 

 Bureau, the Farmers' Automobile In- declines in milk during 1931 and were 

 surance Association, the Tazewell Ser- far more successful than most of the 

 vice Company, and other subsidiary lesser organized farm commodities in 

 organizations. . . maintaining a reasonable income. In 



downward market trends, the price of 

 fluid milk has not fallen as fast nor as 

 far as most other farm products. 



This situation created a new problem, 

 however. It encouraged many farmers 

 to go into milk production and their 

 The Woodford County Service Com- addition to the total production caused 

 pany announced an 18 per cent patron- burdensome surpluses to appear near the 

 age dividend at the annual meeting of close of the year. Much of this surplus 

 the Farm Bureau and Service Company was produced by farmers who had not 

 on January 7, according to Manager had much experience in the milk busi- 

 G. G. Ludwig. Ten per cent dividend ness, and it is very questionable whether 

 checks were distributed at the meeting the milk they are producing and which 

 and 8 per cent will be paid at a later is causing the disturbance on the mar- 

 date. The 536 Farm Bureau members kets is being produced at a profit. ^^ 

 who have patronized the company will This serves as an example of what 

 receive approximately $9,000. The non- happens when one industry becomes 

 members patronizing the company are well organized and begins to benefit 

 almost twice the number of Farm Bu- those who engage in that line of pro- 

 reau member patrons. ; ' / duction. :. ^ ' , - ; f 



Woodford Pays 1 8% 



In Patronage Dividends 



