Mole money lor far 



By 6. H. Iftn«r 



The Ludlow Cooperative Elevator Com- 

 pany in Champai);n county has developed 

 an answer to the question, "Does It Pay 

 For An Elevator To Operate As A Strictly 

 Cooperative Concern?" It is surprising the 

 number of farmer-stock companies which 

 still raise that question. 



Ludlow's operating? experience since it 

 became a cooperative in 1939 proves that it 

 pays to operate as a true cooperative. Let 

 the figures speak for themselves as they were 

 presented by Manager Eugene Hoerner at the 

 4lst annual meeting of members: 

 Yr. Total Gr. Mdse. Val. Net Prof. Pat. Div. 



Bu. 



}24,( 



397,( 



J99,< 



516,( 



616,1 



582,1 



The Ludlow company was not in a strong 

 financial condition when it became a cooper- 

 ative in 1939. Today -the cooperative has 

 capital stock issued amounting to a little 

 more than $16,000 and has an earned surplus 

 of $43,353 which also belongs to the patrons, 

 since the cooperative operates according to 

 the Cooperative Act of 1923, an act that was 

 sponsored by the Illinois Agricultural Asso- 

 ciation. 



The Ludlow cooperative was responsible 

 for not less than four neighboring farmer 

 elevators becoming cooperatives within the 

 past three years. 



Directors of the Ludlow cooperative are 

 Warren H. Watson, James S. Coon, Byron 

 G. Walker, C. C. OHare, Edward Quinlan, 

 James Sheehan, W. O. Smith, John F. McCabe 

 and M. P. Quinlan. 



Some 109 farmers' elevators companies in 

 Illinois are now operating according to the 

 Cooperative Act of 1923, according to a 

 report from Harry Fulkerson, acting super- 

 intendent of the division of markets of the 

 Illinois state department of agriculture. 



These 109 farmers' elevators which have 

 re-organized since 1923 are operating on a 

 patronage paying basis for the benefit of 

 both the capital stock holders and the pa- 

 trons. Capital stock dividends are limited 

 to 8 per cent. Other earnings, after necessary 

 additions to surplus are made, are distributed 

 to patrons. 



The 1923 Cooperative Act was secured by 

 the Illinois Agricultural Association to 

 streamline cooperative procedure. At present 

 time the lAA is aiding 10 elevator companies 

 with their reorganization under the 1923 

 act, and more than 350 Illinois cooperatives 

 are operating under this act. 



Illinois Grain Corporation is a new mem- 

 ber of the National Federation of Grain 

 Cooperatives. The National Federation now 

 includes the membership of all of the state 

 and regional grain cooperatives in the 

 United States. The regional cooperatives 

 serve more than 350,000 of the nation's grain 

 producers. Their achievements serve as a 

 record of the strong and growing cooper- 

 ative movement in agricultural America. 



Reports from a number of member ele- 

 vators of Illinois Grain Corporation indicate 

 successful op>erations, in most cases the best 

 years in their history. Patronage dividends 

 were declared by member companies, for 

 example: 



Greenfield Farmers' Cocxperative Grain 

 Company, Greene county, refunded $6,803.51 

 to patrons after building a surplus to more 

 than $50,000. W. M. Metcalf is manager. 



Savoy Grain and Coal Company, Cham- 

 paign county, distributed 4 cents per bushel 

 dividends amounting to $25,511.72 to 250 

 patrons. The company handled 631,000 

 bushels in 1944. It was organized in 1904 

 and became a cooperative in 1931. J- N. 

 Jordan is manager. 



The Nokomis Equity Elevator Company, 

 Montgomery county, paid out patronage 

 dividends for the years 1938 through 1941 

 approximating $12,000. Roy N. Phillips is 

 the manager. 



Walter Meyer, manager at the Keyesport 

 Equity Elevator Company, Bond county, re- 

 ported a good year with net profits of 

 $3,310.05 out of which patronage dividends 

 will be paid. 



Earlville Farmers' Cooperative Elevator 

 Company, La Salle county, a 40-year-old 

 company voted to go cooperative after turn- 

 ing in its best year — nearly a million bushels 

 of grain handled. A. E. Bader is the man- 

 ager. 



Kewanee Farmers' Cooperative Elevator 

 Company, Henry county, paid its first divi- 

 dend in 28 years after netting nearly 

 $20,000. Manager W. D. Weter set a goal 

 of a million dollars merchandise business. 



Anchor Grain Company, McLean county, 

 with C. H. Willke as manager paid refunds 

 on the following scale: grain, 1 cent per 

 bushel; seeds, 2 per cent; coal, 4 per cent; 

 feed, 5 per cent; lumber, 5 per cent. 



Dillsburg Cooperative Grain Company, 

 Champaign county, organized in 1920 and 

 reorganized as a cooperative in 1942 reported 

 a substantial net profit last year. John 

 Ehmsen is manager. 



Secor Elevator Company, Woodford 

 county, became a cooperative in 1944 and 

 reported a net of nearly $6000. Manager 

 Virgil Wilkey wants to pay a patronage 

 dividend next year. 



cream 



By F. A. Gougler 



Virgil Johnson, manager of Producers 



Creamery of Galesburg, has resigned to take 

 a position with Producers Creamery of 

 Springfield, Mo. Virgil went to work with 

 the Galesburg Creamery when it opened up 

 for business, July, 1935. 



Many improvements have been made dur- 

 ing his administration. A large adjoining 

 lot was purchased and a wing was built onto 

 the building for a receiving room. The in- 

 terior of the plant was rearranged for effi- 

 ciency and much new equipment has been 

 added by Johnson. 



During these years, Johnson has proved an 

 able manager and has made many friends in 

 the Galesburg territory as well as through- 

 out the state. 



His successor will be James Cramer who 

 has been plant superintendent for many 

 years. Cramer is an Ames graduate and has 

 had plant experience in Iowa and Wiscon- 

 sin. He will be assisted by Harold John- 

 son who will devote his time to procure- 

 ment and Dean Ole who will have charge of 

 quality operations. 



Herb Johnson, former manager of Pro- 

 ducers Creamery of Peoria, has been em- 

 ployed by Illinois Producers Creamery as 

 salesman. His major work will be that of 

 selling milk powder. He will also be avail- 

 able to member creameries on problems re- 

 lated to equipment installation. 



During a recent meeting of the board of 



directors of IPC, two members of the board 

 handed in their resignation. .Harry Leeper, 

 former president of Producers Creamery of 

 Peoria, resigned because that plant has been 

 closed. His vacancy will be filled by a 

 representative of Prairie Farms Creamery of 

 Henry. 



William Bismark, former president of Pro- 

 ducers Creamery of Moline, resigned because 

 his creamery has been taken over by the 

 Quality Milk Association. He will be suc- 

 ceeded by Arthur E. Myer, president of Qual- 

 ity Milk Association to the IPC board. 



The new creamery building in Mt. Carroll 



is nearing completion. Practically all of 

 the new equipment has been delivered and 

 Manager Ray Sailer is of the opinion that 

 he should be able to start operations in the 

 new building early in April. 



At present, volume is running 35% ahead 

 of a year ago and until the new plant is 



^ I 



18 



I. A. A. RECORD 



