*» V.' 



} - V 



"We Expect To Get 

 % Steadily Ahead ' '—Huff 



The Board of Trade recently 

 charged Farmers National with viola- 

 tion of its rules governing rebating, 

 basing the charges on provisions of 

 the operating agreements between 

 Farmers National and its stockhold- 

 ers. A hearing was set for July 24 

 to air these charges — was later post- 

 poned for 90 days. ^ v J 



"Farmers National has not at any 

 time violated the rules oi the Chicago 

 Board of Trade regarding rebating," 

 President C. E. Huff of Farmers Na- 

 tional said in reply. "Charges to that 

 effect, filed by the Board of Trade, 

 are on a par with their previous 

 charges and actions against us, none 

 of which they have been able to sus- 

 tain before the Federal Commission 



or in Court, ^^^v ; ■ • 



"The real issue is whether the pro- 

 ducer of grain shall be permitted to 

 represent himself within so sacred an 

 institution as the Chicago Board of 

 Trade. We are a co-operative and 

 our grower members are the bene- 

 ficiaries of our operations. We are 

 members of the Board of Trade and 

 of the Clearing Corporation, privi- 

 leges guaranteed us by Federal law. 

 We have recently acquired a four 

 million bushel elevator in Chicago. 

 Our business grows steadily. Hun- 

 dreds of local co-operative elevators, 

 in all parts of the country, are affili- 

 ated with Farmers National. The 

 farmer is now for the first time mar- 

 keting his own grain with every de- 

 vice and facility which private dealers 

 have had in the past. Our securing 

 of the Rock Island elevator and our 

 great growth are the causes of the 

 present complaint. These boys can't 

 take it. The specific charges filed 

 yesterday have been 'buried' within 

 the Directorate of the Chicago Board 

 of Trade for many months as a con- 

 venient club over us or awaiting a 

 strategic time for public announce- 

 ment. The adjournment of Congress 

 without the passage of the Commod- 

 ity Exchange Bill seems to have pro- 

 vided the convenient time. 



"Perhaps it is too much to expect 

 that a privileged group, whether in 

 utilities or in trade, should reform its 

 abuses and adjust itself to new facts. 

 Most of them seem to prefer suicide 

 to commonsense action. We do not 

 know, of course, whether or not the 

 Board of Trade has outlived its use- 

 fulness, but we expect to get steadily 

 ahead with our marketing program." 



NRA Recedes From Price 

 I Fixing, May Aid Farmer 



. 7 ' ....#••....■- ,,• 



Receding from its position in sup- 

 port of price-fixing, the National Re< 

 covery Administration has paved the 

 way for a cut in the cost of non-ag- 

 ricultural commodities. Quickest to 

 respond in price reductions were cer- 

 tain groceries, clothing, dry goods. 

 Most needed by farmers are lower 

 prices for lumber, cement, steel ma- 

 chinery, wire fence or substantially 

 higher prices for farm products to re- 

 establish their pre-war buying power. 



The effect of gradual withdrawal 

 of NRA price-fixing will be to reduce 

 prices of easily manufactured, com- 

 petitive goods. Monopolies and 

 strongly organized groups such as 

 steel, farm machinery, lumber, ce- 

 ment, certain kinds of labor will be 

 able to maintain high prices and 

 wage minimums without NRA. -^■- 



So longr as restricted production and high 

 prices continue as policies of hig business farm-- 

 ers will do well to play the same game in 

 spite of the outcries of the processors and com- 

 mission men. In an economy of scarcity initi- 

 ated by monopolies, the farmer plays a losing 

 game with uncontrolled production. — Editor. 



Wheat Program Continues 

 ^^c Payments Being Made 



Second payment of nine cents per 

 bushel to wheat contract signers 

 totaling more than $30,000,000 began 

 July 16. Estimated 77 per cent of 

 nation's wheat production is under 

 contract. The program for the 1934-- 

 '35 crop is planned on the same basis 

 as the one just completed. > 



Acreage reduction will be not more 

 than 15 per cent of base and benefit' 

 payments will be at the rate of 29 

 cents per allotted bushel. Illinois had 

 24,750 contracts approved. First in- 

 stallments in Illinois amounted to 

 11,696,903, second payments are ex- 

 pected to yield |769,500, total pay- 

 ments $2,466,403. ; 



"My wheat benefit check was mighty easy 

 to take/' commented a St. Clair county grower. 

 "It certainly has paid us to go along on this 

 program." 



Farm exports during the month of 

 May were the lowest in any single 

 month in 20 years. 



Ship To Chicago Producers. 

 Save 25% On Commissions 



Since April 20 the Chicago Pro- 

 ducers Commission Association has 

 been operating on the reduced com- 

 mission rates which are from 20 to 25 

 per cent under the old rates. 



Only one other commission agency 

 in Chicago is charging the reduced 

 rates. The old-line commission com- 

 panies are fighting the reduction or- 

 dered by Secretary of Agriculture 

 Wallace, have appealed to the courts. 



Plan Illinois Council 



To Expand Use Crops 



The Illinois Agricultural Associa- 

 tion, through its officers and local 

 director, E. D. Lawrence, has par- 

 ticipated in a series of conferences 

 and committee meetings at Blooming- 

 ton during the last three weeks with 

 representatives of the Alcohol Motor- 

 Fuel Association, Bloomington Asso- 

 ciation of Commerce and McLean 

 County Farm Bureau. 



The original conference was held at 

 the invitation of the local groups on 

 June 27th, which gave consideration 

 to ways and means to promote the de- 

 velopment of a "power-alcohol" pro- 

 gram, as the major objective of a 

 broader movement which includes the 

 development of new non-food uses of 

 agricultural products. Representatives 

 of the four groups were assigned to 

 working committees, which met and 

 reported in a meeting held July 16th. 



The meeting received the report of 

 its Committee on Form of Organ- 

 ization, presented by Chairman R. A. 

 Cowles, and approved its report, for 

 recommendation to the groups and 

 organizations which may be interested 

 in forming an association to serve as 

 council of its member organizations. 



The name of the proposed associa- 

 tion is "Illinois Council." The purpose 

 and objects of the Council (non-stock, 

 non-profit) are: (a) To develop new 

 non-food uses and to expand and en- 

 large present food and industrial uses 

 of Illinois farm products, (b) To pro- 

 mote and protect the common eco- 

 nomic interests of Agriculture, Indus- 

 try, Business and Commerce therein. 

 (c) To formulate and make concrete 

 expression thereon, as vital to the 

 whole economic welfare of Illinois, (d) 

 To secure, in the common interest of 

 the Mid-West States, similar and 

 united action in and by such States. 



The management is vested in eight- 

 een directors — the "Board of Gover- 

 nors." The By-Laws provide for equal 

 representation of (1) Agriculture, (2) 

 Industry, and (3) Business and Com- 

 merce, on the Board of Governors, and 

 on the Executive Committee. The By- 

 Laws prohibit partisan political ex- 

 pression or activity by the proposed 

 Council or its officials. 



The General Committee, appointed 

 with power to enlarge its number and 

 broaden representation on the com- 

 mittee, includes: Jas. Gray, Chairman, 



B. D. Funk, J. R. Heiple, W. E. Froe- 

 lich, C. V. Gregory, C. W. LaPorte, John 

 Scholl, Frank Moberly, Earl Smith, R. 

 A. Cowles. 



The Board of Directors of Illinois Agricultural 

 Aasociation in iti July meeting: autliorized the 

 Association's participation in the movement, as 

 A member of the proposed Illinois Council, if 

 and when other organizations representative of 

 Agriculture, Industry, and Business and Com- 

 merce decide to perfect its organizatioDi 



** ^— ■ ^r^ ■■ —i 1 



14 



I. A. A. RECORD 



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