I. A. AUDITING REPORTS 

 FURTHER GAINS IN '45 



CURTHER gains in cooperative audit- 

 * ing during the 1945 fiscal year end- 

 ing Sept. 30 were reported by C. E. 

 Strand, manager of the Illinois Agri- 

 cultural Auditing Association, at the an- 

 nual meeting of the association in Chi- 

 cago Nov. 26. 



This lAA affiliate, which offers an 

 auditing and general business service to 

 its members, consisting wholly of coop- 

 eratives and farmer-owned organiza- 

 tions, reported a net increase of 30 

 member clients over the preceding year. 



Memberships listed by Strand totaled 

 439, including 155 Farm Bureaus and 

 Farm Bureau subsidiaries, 28 cold stor- 

 age lockers, 97 grain elevators, 18 live- 

 stock associations, 32 dairies and cream- 

 eries, six insurance companies, 72 .■serv- 

 ice companies, three home bureaus and 

 28 miscellaneous organizations. 



The purpose of the Illinois Agri- 

 cultural Auditing Association has been 

 to render, substantially at cost, an un- 

 biased auditing system, income tax, and 

 business advisory service to its member 

 clients. 



During the past year the association 

 had the greatest volume of business in 

 its history with a total billing of $103, 

 341.67 and with total income in excess 

 of $105,000. Operating expenses 

 amounted to almost $100,000 with net 

 income of $5,765.70. Dividends paid 

 on capital stock totaled $1,267.76 and 

 the net surplus after payment of divi- 

 dends increased $4,498.03. 



Since the chartering of the associa- 

 tion in 1924, membership has increased 

 almost four-fold until today it is no 

 doubt safe to say it is the largest ac- 

 counting organization in the United 

 States serving cooperatives exclusively. 



ILLINOIS GRAIN SETS 

 NEW MARKETING RECORD 



TWENTY-FIVE million bushels of 

 grain, the largest volume in the or- 

 ganization's history, were marketed co- 

 operatively by Illinois farmers during 

 the past fiscal year through the Illinois 

 Grain Corporation, according to the re- 

 port made at the corporation's annual 

 meeting in Chicago, Nov. 26 by Man- 

 ager Frank Haines. 



Earnings for the year, including pa- 

 tronage dividends received from other 

 cooperatives amounting to $11,820.94, 

 totaled $292,628.80. After payment of 

 taxes, payments of capital and class "C" 

 stock, and additions to surplus, patron- 

 age dividends declared amounted to 

 $247,138.92, which included $173,488.- 

 92 in cash and $73,650 in class "C ' 

 stock. 



Owned and controlled by grain pro- 

 ducers through their local cooperatives, 

 their county Farm Bureau and the lAA, 

 the company maintains terminal offices 

 in Chicago, Peoria and St. Louis with 

 branch offices at Mendota, Blooming- 

 ton, Champaign and Jacksonville. Dur- 

 ing the fiscal year 13 elevators were 



Here is the board of the Illinois Grain 

 Corporation for 1345. Leit to right: Harry 

 Dixon, Bloomington; Charles Lauritzen. 

 Reddiclc' H. P. Joy, Chopin; Sam Yergler. 

 Cissna Park; Arthur Bertsche. Pontiac; 

 Chester A. Hunt. Morris; John Butterfield, 

 Pana; President Charles Schmitt, Beason; 

 Carl O. lohnson, Varna; Fred Romine, Tus- 

 cola; E. E. Stevenson, Streator; A. O. Eck- 

 ert, Belleville; A. E. Burwash, Champaign; 

 Dwight Hart. Taylorville. and Ralph Ver- 

 cler. Washington. At the annual meeting. 

 C. I. Elliott. Streator. was named to suc- 

 ceed Dwight Hart; L. J. Sutter. Lexington, 

 to succeed Harry C. Dixon. Bloomington. 

 and Erwin Isenberg. Alhambra, to succeed 

 H. P. Joy, Chapin. 



Directors oi the Illinois Agricultural Audit- 

 ing Association during 1945 are pictured 

 here. Reading clockwise: F. A. Esterly, 

 Carbondale; Carl A. Lage, Saybrook; Vice 

 President B. W. Horan. Reynolds; President 



R. H. Voorhees, lerseyville; Secretary 

 George E. Metzger. Chicago; Ruth Lange, 

 office secretary, and Comptroller C. C. 

 Chapelle. Chicago. 



Erwin Isenberg 



added to the membership of the Illi- 

 nois Grain Corporation. Patronage di- 

 vidends received from other coopera- 

 tives means chiefly from Indiana Grain 

 Cooperative, Inc., which credits Illinois 

 Grain Corporation for business origi- 

 nated in Illinois by the Illinois coopera- 

 tive for the benefit of the Indiana co- 

 operative. 



In July, 1944, marketing services 

 were extended to producers in Iowa 

 through a marketing agreement with 

 the Farmers Grain Dealers Association 

 of Iowa. This has resulted ii| a very 

 substantial addition to volume. Since 

 increased volume lowers costs and in- 

 creases savings, this arrangement is of 

 direct benefit to producers in Illinois. 



32 



I. A. A. RECORD 



