Members of the Illinois Grain Corporation board of directors art, left to right, secrted: 

 Sam Yergler, Iroquois county; C. A. Hunt, Grundy; J. Fred Romlne, Douglat; Secretary 

 John H. Butterfield, Christian; President Charles Schmitt, Logan; Vice President Carl O. 

 Johnson, Marshall-Putnam; Marie Hetherington, office secretary; A. E. Burwash, Cham- 

 paign; E. E. Stevenson, La Salle; C. J. Elliott, La Salle. Standing: Erwin Isenberg, Madison; 

 Charles Lauritxen, Livingston; K. T. Smith, Bond, and L. J. Sutter, McLean. Not present 

 are Ralph Vercler, Tcuewell, and Arthur Bertsche, Livingston. 



ing for themselves, rather than become 

 wards of the state." 



Guild built up an unbreakable case 

 for the cooperatives in their position 

 on federal income tax and pointing out 

 that many industries are escaping cor- 

 poration income taxes by operating as 

 partnerships. 



Guild cited the fact that of about 

 21/^ million business enterprises in the 

 wholesale field of the U. S., 8614 per 

 cent are partnerships, 13.1 per cent are 

 corporations and one-half of one p>er 

 cent are cooperatives. "So who are the 

 great majority of people escaping the 

 corporation federal income tax," Guild 

 asked. "It can't be the cooperatives." 



Guild urged the support of the co- 

 operative credit institutions for agri- 

 culture and stressed the fact that the 

 sovereignty of any cooperative re- 



m 



inoi± 



T LLINOIS Grain Corporation announced 

 '*' patronage refunds of about one cent 

 a bushel during the company's annual 

 meeting held Nov. 18 at the Hotel Sher- 

 man in Chicago. 



Savings and volume of business were 

 second largest since the company was or- 

 ganized and a sharp increase in volume 

 of grain marketed cooperatively next year 

 was forecast by Manager Frank Haines. 



Selling and brokerage agency for 113 

 member elevators, Illinois Grain marketed 

 more than 16 million bushels of grain for 

 the fiscal year ending Sept. 30. During 

 1945 a record of 25 million bushels were 

 handled. 



At their annual meeting members were 

 told that patronage refunds would total 

 1146,802.04 and will be passed back to 

 member elevators in form of cash and 

 class "C" preferred stock. 



Eight new member companies were 

 added during the fiscal year. They are: 

 Bureau County Grain Company ; Southern 

 Illinois Grain Company; Farmers Grain 

 Company, Kane; Erie Cooperative Com- 

 pany; Virden Grain Company; Farmers 

 Elevator Company, Jamaica ; Stark Ser\'- 

 ice Company, and Rees Farmer Elevator 

 Company. 



Owned and controlled by grain pro- 

 ducers through their local cooperatives, 

 county Farm Bureau and the lAA, the 

 company maintains terminal oflfices in 

 Chicago, Peoria, and St. Louis with 

 branch offices at Mendota; Bloomington, 

 Champaign and Jacksonville. ,;.-..— 



GRAIN CORPORATION DECURES 

 ONE CENT PER BUSHEL REFUND 



Illinois Grain works closely with sim- 

 iliar cooperatives in Indiana and Iowa 

 and increased volume from these states 

 has had the effect of lowering costs and 

 increasing savings to each state company. 



In an address, before the Illinois 

 Grain Corporation, that sparkled with 

 wit and philosophy, M. D. Guild, man- 

 ager of the Incfiana Grain Corporation, 

 reviewed the history of the cooperative 

 movement and the contribution of agri- 

 culture to the welfare of America. 



". . . No great enterprise has been 

 built through tilling the soil, yet all 

 through the decades we have found 

 the farmer producing the necessities of 

 life which everyone shares and enjoys 

 . . . but the farmer had not been 

 adequately compensated for it," Guild 

 pointed out. He added, however that 

 farm leaders went to work and Con- 

 gress gave farmers an opportunity 

 through organizing among themselves 

 to share a decent part of the national 

 income. 



"That's when the cooperatives of 

 this country were born — not by acci- 

 dent, but by necessit)'. . . Supply co- 

 operatives were formed. . . Then we 

 find that the producer by himself in 

 the marketing field was but chaff in the 

 wind, but by joining hands with his 

 neighbor he created a sales agency in 

 an institution such as the Illinois Grain 

 Corporation. . . So the farmer joined 

 hands with his neighbor to meet the 

 competition with a highly organized 

 industry- in order that he might do for 

 himself what other industries were do- 



mains with the producer himself and 

 not with the manager or the director. 

 "The producer is the man we are try- 

 ing to serve," he asserted, "so it is our 

 responsibility to see that he maintains 

 his rightful place in an organized 

 society, that he manages his own affairs 

 and that the time never comes when 

 the American farmer cannot rightfully 

 claim agriculture as his own." 



TERMINALS ACTING HEAD 



George H. Iftner, director of grain 

 marketing for the Illinois Agricultural 

 Association, has been appointed acting 

 manager of the 

 Illinois Grain 

 TerminalsCom- 

 pany, recently 

 organized lAA 

 grain market- 

 ing affiliate. 



Iftner came 

 to the lAA in 

 1942 as grain 

 marketing d i - 

 rector. Before 

 this he served 

 as farm adviser 

 for eight years 

 George Iftner -^^ Tazewell 



county. 



Graduating from the University of 

 Illinois College of Agriculture in 1922, 

 Iftner worked as an assistant in agron- 

 omy at the College and later taught 

 vocational agriculture at Alvin and Sul- 

 livan before going into farm advisory 

 work. 



DECEMBER, 1946 



