14 



. V 



■■■x^. 



,': V. 



» " ' < • 



stated that the organization had in- 

 creased its membership 38 per cent 

 although as a result of slow movement 

 of grain, erratic pric^ swings, uncer- 

 tain hedging conditions, and short 

 'crops, the volume handled in Illinois 

 had declined slightly from the 15 mil- 

 lion bushels plus handled last year. 



"The Corporation has been able to 

 iadd some $33,000 to surplus during 

 the past year," Mr. Johnstone said, 

 "and yesterday the board of directors 

 declared a preferred stock dividend of 

 :7% and also set aside $24,200 for com- 

 >mon stockholders on a patronage basis 

 of one-fifth cent per bu. on corn and 

 other grains except oats, and one- 

 tenth cent per bu. on oats. Improve- 

 ment of grain prices over a year ago 

 is pronounced although not as much 

 as we would like to see. Corn and 

 oats are selling about three times and 

 wheat about twice the price of last 

 ■year at this time." .,;'•.•■ •;;;^..j^;c. y:.:^^^ 



Aid Corn Loan 



President Johnstone pointed out that 

 the Illinois Grain Corporation assisted 

 in getting the corn loan program into 

 operation. In the Livestock Market- 

 ing Association meeting at Blooming- 

 ton held the following day President 

 Earl Smith of the I. A. A. gave credit 

 to Illinois Grain Corp. for first sug- 

 gesting and assisting in working out 

 the corn loan program. ^ . - 



Farmers National Grain Corpora- 

 tion, Johnstone said, now controls some 

 4% million bushels of elevator space 

 which is being used to return the prof- 

 its in storing and handling grain to 

 producers. The new elevator at Peoria 

 he said will furnish an outlet for off- 

 grade corn as the site adjoins a large 

 distillery which will use large amounts 

 of com daily. ^ v 



'^ Another important event of the 

 year, he said, was the admission of 

 Farmers National to membership in 

 the clearing house of the Chicago 

 Board of Trade which will save thou- 

 sands of dollars in clearing hedging 

 transactions. Needed regulation, he 

 pointed out, promises to be brought 

 about in the grain exchanges through 



the AAA or new legislation. 



■ ■ • '.■ ■ - .•■■■.•'. . '. ■ 1 .' • ' « 



Directors Elected 



A new cumulative voting system for 

 the election of directors was launched 

 based on volume of grain contributed 

 by member elevators. Directors chosen 

 for the ensuing year include one each 

 from the 12 districts, and three direc- 

 tors at large as follows: Walter 

 Thomas, Lee county; E. E. Stevenson, 

 LaSalle county; Ralph Allen, Tazewell; 

 B. F. Baird, Knox; H. K. Johnston, 

 Iroquois; Geo. L. Potter, Livingston; 

 G. C. Johnstone, McLean; Chas. 



'»t*.' . '..t 



Schmitt, Logan; Warren Watson, 

 Champaign; Fred Romine, Douglas; 

 H. J. Joy, Morgan; F. Zimmerman, 

 Mason; directors at large, A. R. 

 Wright, Marshall county; Ernest D. 

 Lawrence, McLean; Eugene Curtis, 

 Champaign. : - v? :; 



\Harrison Fahrnkopf, manager of the 

 corporation, reported the 10 leading 

 counties in grs^in sold through the I. 

 G. C. as follows: Mason 867 cars, 

 McLean 795, LaSalle 612, Lee 519, 

 Knox 511, Peoria 447, Logan 437, 

 Champaign 404, Marshall-Putnam^ 340, 

 Tazewell 301. - -■■. ■■■ • - ■ ■ ^- ■. ■ 



: ; ;■ Resolutions Presented ■ 



;/ Chas. P. Cummings, manager of the 

 Farmers National Grain Corporation 

 at Peoria, who won his new appoint- 

 ment as a result of his good work as 

 general manager of the old Mid- West 

 'and later Illinois Grain Corp., was 

 given a fine ovation as he spoke brief- 

 ly before introducing Farmers Na- 

 tional Grain Corp. men who are serv- 

 ing the Illinois territory. , 



Resolutions presented by E. D. Law- 

 rence were adopted paying tribute to 

 two former directors, J. C. Sailor of 

 Iroquois county and Ralph Mills of 

 Vermilion county. Other resolutions 

 were similar to those approved at the 

 annual meeting of the I. A. A. at Dan- 

 ville reported in the February issue of 

 the RECORD. . 



A. J. Kuhns, treasurer of the Co- 

 operative Bank of St. Louis, gave an 

 interesting talk on the new set-up for 

 making credit available to co-opera- 

 tive associations. The co-operative 

 bank, he said, is not a relief agency, 

 but is an institution formed to make 

 loans to co-ops on a sound basis. He 

 explained how co-operatives can se- 

 cure credit through the bank which 

 he represents. . 



I. A. A. R«eord— March, 1934 



St. Louis Producers Show 

 Big Gain From '32 ip '33 



The Producers Live Stock Commis- 

 sion Association of E. St. Louis han- 

 dled 20.3 per cent of all stock sold at 

 the National Stock Yards last year. ; 

 In 1933 it handled 934,841 head com-; 

 pared with 839,416 the year before.;/ 

 This was an increase of 2,950 carloads. . 

 Shipments from Illinois show the big-; ; 

 gest gain of 1,850 carloads for the 

 year. Seventy-nine per cent of all re- 

 ceipts came by truck. ^^ 



During 1933 the Producers served 

 115,000 patrons. One hundred fifty- 

 one loans were made through the Pro- 

 ducer Finance Corporation totalling' 

 more than $173,000. The average loan 

 was $1,143. -••-■•-:'^' v.:v •:----.^' -v 



J A recent survey made by the asso-/ 

 ciation shows that 102 cars carrying 

 a total of 7,029 hogs averaging 69 

 head per car, ate an average of 4.8 

 bushels of corn per load and gained a 

 total of 303.1 pounds while in Pro- 

 ducer pens. The value of fill at av- 

 erage price of $4 is $12.12 and feed 

 cost $4.08, making a net gain of $8.04. 



*V: > . . v. 





Public Utility Control '£ 

 'Of Milk Distribution 



"We do not liave the machinery to 

 undertake the public utility method of 

 regulating fluid milk distribution in' 

 cities, although ultimately we may be 

 forced to do it," Secretary Henry A. 

 Wallace said in a recent statement be- 

 fore cooperative leaders and legisla- 

 tors in Washington. 

 ^ At Winnipeg, Canada, after a series 

 of milk wars between organized dairy- \ 

 men and dealers, milk production and 

 distribution was made a public utility 

 and placed under the jurisdiction of 

 the provincial Public Utility Commis- 

 sion. 



While regulation is having its ups 

 and downs the situation is reported 

 much better than it was. Producers 

 are getting a larger share of the con- 

 sumer's dollar and the consumer gets 

 good quality milk at a fair price. 



Cartoons O. K. 



Editor, 



I. A. A. RECORD. 



"The February issue of the I. A. A. 

 RECORD was the best that I have 

 ever seen. The cartoons covering the 

 Danville convention were certainly 

 dandies." . 



: Wilkie A. Lee, Mgr., 



; Mid-West Dairymen's 

 • Company. , 



