capital 



Farmers Mutual Reinsurance Company 



The Farmers Mutual Reinsurance 

 Company had $400,202,671.00 of in- 

 surance in force at the close of its 

 fiscal year, September 30, a net gain for 

 the year of $60,539,436.00. It paid loss 

 claims totaling $734,167.48, paid divi- 

 dends to its policyholders in the amount 

 of $585,510.24 and added $617,668.97 

 to its surplus, which at the close of the 

 year was $2,458,059.58. 



Illinois Farm Bureau Serum Association 



The Illinois Farm Bureau Serum 

 Association purchased for its members 

 42,410,075 cubic centimeters of serum 

 and virus during the year. After the 

 payment of 7% dividends on $50,- 

 000.00 of outstanding capital stock, the 

 Association returned $65,832.03 in pa- 

 trotiage dividends and added $1,318.32 

 to its surplus. 



Illinois Agricultural Mutual Insurance 

 Company 



The Illinois Agricultural Mutual In- 

 surance Company again had a very suc- 

 cessful year. On September 30, it had 

 outstanding 145,894 policies and 92 

 bonds in force, which together show an 

 increase of 10,238 for the year. Total 

 loss payments during 1945 amounted 

 to $1,352,924.79. During the yearly 

 period, $990,249-59 was paid to policy- 

 holders in the form of regular and 

 special dividends. It is interesting to 

 note that since the Company went on a 

 dividend paying basis in 1935, the reg- 

 ular and special dividends returned to 

 policyholders now amount to $4,605,- 

 632.62. 



Illinois Farm Supply Company 



Although constantly faced with 

 serious curtailment of available mer- 

 chandise, the Illinois Farm Supply 

 Company had the highest sales of rec- 

 ord. It purchased and distributed 

 132,148,985 gallons of petroleum prod- 

 ucts, an increase of 61^ per cent over 

 the previous year. Its Feed Division 

 distributed 55,144 tons of Blue Seal 

 feeds and ingredients, an increase of 

 40.2 per cent. It handled 36,350 tons 

 of plant food, including 15,836 tons of 

 rock phosphate. The Compafty had a 

 net income of $1,247,310.31. After 

 the payment of $51,784.02 upon its 

 outstanding capital stock, $1,075,973.66 

 was distributed on a patronage basis 

 to its 165 member companies. The 

 records disclose that from the opera- 

 tions of this Company and its member 

 companies, $2,083,410.73 was paid to 

 Farm Bureau members of Illinois in 



the form of patronage dividends during 

 the last fiscal year of their Operations. 



Country Life Insurance Company 



Country Life Insurance Company 

 again had a most outstanding year. 

 10,783 new policies of life insurance 

 totaling $27,728,317 were issued. At 

 the close of business on September 30, 

 138,005 policies were in force covering 

 $243,614,220 of life insurance. At the 

 close of its fiscal year, the Company 

 had total assets of $28,508,149.40, an 

 increase for the year of 17.7 per cent. 

 During the year claims totaling $748,- 

 426.56 were paid and $503,340.58 was 

 paid in dividends to policyholders. 

 $439,257.12 was added to the unas- 

 signed surplus of the Company which 

 on September 30 totaled $3,026,761.40. 

 On September 30, the Company's entire 

 bond portfolio had a market value of 

 $24,817,514.93 which was $954,407.61 

 in excess of the amount at which these 

 securities are being carried on the books 

 of the Company. 



Illinois Agricultural Holding Company 



The Illinois Agricultural Holding 

 Company, which continues to hold all 

 of the stock of Country Life Insurance 

 Company and which is controlled by 

 a directorate interlocking with that of 

 the Illinois Agricultural Association, 

 received $165,007.25 in dividends on 

 this stock in 1945. After the payment 

 of $8,750.00 upon its outstanding stock, 

 the Holding Company distributed 

 $141,683.15 to holders of special poli- 

 cies and to Farm Bureau member pol- 

 icyholders of Country Life Insurance 

 Company. 



Illinois Livestock Marketing 

 Association 



The Illinois Livestock Marketing As- 

 sociation handled 200,886 head of live- 

 stock during its last fiscal year. This is 

 about the same volume as that handled 

 during 1944. After the payment of all 

 operating expenses, it had a net income 

 of $9,711.53. After the payment of 

 $1,815.00 in dividends upon its capital 

 stock and the return of $4,905.83 in 

 the form of patronage refunds, 

 $2,880.35 was added to the surplus of 

 the Company. When one considers the 

 large increase in the number of direct 

 buying stations set up by packers dur- 

 ing the past year, all of which entered 

 into direct competition with the opera- 

 tions of this Company, the record of 

 the Association can be better appre- 

 ciated. 



Prairie Farms Creameries 



During the year, the Illinois Pro- 

 ducers Creameries changed its name to 



Prairie Farms Creameries. Its ten 

 members, located in strategic areas 

 throughout the State, purchased 6,596,- 

 376 pounds of butter fat, an increase 

 of 6.52 per cent over the previous year. 

 These creameries manufactured 6,338,- 

 175 pounds of butter, of which 97-37 

 per cent was 90 score quality or better. 

 They manufactured 3,791,405 pounds 

 of milk powder, an increase of 47.12 

 per cent and 601,740 pounds of cheese, 

 an increase of 147 per cent over the 

 volume of last year. From its net 

 earnings, the Company paid $1,848.00 

 in dividends on its outstanding capital 

 stock, $32,691.56 as quality premiums 

 and patronage dividends and $12,- 

 572.98 was added to the surplus of the 

 Company. Since the organization of 

 Illinois Producers Creameries in 1933, 

 farmers have invested $656,169.44 in 

 the stock of its ten member plants. 

 During this period, the ten creameries 

 have returned to stockholders and pro- 

 ducer members in the form of stock 

 dividends and patronage refunds, 

 $532,414.03. When one considers the 

 highly competitive field in which this 

 Company operates, its measure of suc- 

 cess is very satisfactory. 



Illinois Grain Corporation 



The Illinois Grain Corporation had 

 its most successful year ending June 

 30. It handled approximately 25,000,- 

 000 bushels of grain during this period. 

 After meeting all operating expenses, 

 the Company's earnings amounted to 

 $180,807.86. After payment of taxes, 

 the Company paid $15,971.79 in divi- 

 dends on its outstanding capital stock 

 and returned $147,252.69 in the form 

 of cash patronage dividends to its mem- 

 bers. 



Illinois Wool Marketing Association 



The Illinois Wool Marketing Asso- 

 ciation handled 213,354 pounds of 

 wool for its members. While this 

 volume is not large, the activities of 

 the Association had a decided influence 

 in making eflPective the floor under the 

 market in the country where buyers 

 bought wool much more freely than 

 they did a few years ago. Its earnings 

 were adequate, after the payment of all 

 operating expenses, to pay its obliga- 

 tions on outstanding capital stock. The 

 Association is prepared to protect its 

 members with an expanded program at 

 any time the government may discon- 

 tinue its wool buying and pricing pro- 

 grams. 



The operations of all the business 

 corporations on which I have reported 

 very briefly, continue under the man- 

 agement of the Illinois Agricultural 

 Service Company. The relationships 

 existing between these organizations 



DECEMBER. 1945 



