COOPERATIVE PURCHASING AND MARKETING ORGANIZATIONS. 



51 



Table V. — Amounts borrowed and sources from which obtained, of 401 farmers and co- 

 operative marketing associations, by classes — Continued. 



Kind of organization. 



Elevators 



Average 



Creameries 



Average 



Fruit and produce 



Average 



Cotton warehouses 

 and gins 



Average 



Tobacco 



Average 



Miscellaneous 



Total.... 

 Average. 



From banks and 

 commercial firms. 



$218,200 

 12,835 



218,200 

 12,835 



R M 



32 



From banks and indi- 

 viduals. 



$296, 500 



8, 985 



6,000 



6,000 



2,116,155 



264, 519 



1,750 

 1,750 

 50,000 

 50, 000 

 33, 347 

 6,669 



2, 503, 752 

 51,097 



M bO 



3.9 



°3 



S3 s 



From com- 

 m er cia 1 

 firms and 

 individu- 

 als. 



$20, 000 

 20,000 



20,000 

 20,000 



298 



262 

 "29 



$2, 334, 963 



8,912 



66, 650 



2, 298 



3, 232, 925 



44,902 



68, 000 



5,666 



135,000 



45, 000 



198, 947 



8,650 



6,036,485 

 15,054 



FARMERS' GRAIN ELEVATORS. 



The capital of farmers' grain elevators is in most cases only enough 

 to provide the means of doing business, with very little in excess 

 available as working capital. A considerable sum of money is re- 

 quired during the rush marketing season, since the elevator usually 

 pays cash for the grain as it is delivered by the farmer. Several days 

 elapse before returns for grain shipped are received, and often grain 

 accumulates in the elevator. The little working capital the elevator 

 has does not go far in paying for all the grain delivered. It is neces- 

 sary to secure financial assistance from outside sources such as 

 banks, commission firms, and individuals. 



Using as a basis the average amount required from outside sources 

 to transact the business of marketing the members' grain as shown 

 by the reports from 262 elevators (Table V), it is a conservative 

 estimate to place the total of the amounts borrowed in 1914 by the 

 farmers' grain elevators at approximately $30,000,000, the greater 

 part of which was for short periods. This amount, while large in 

 itself, is small when compared with the total value of the products 

 marketed. 



Security for loans obtained. — Out of 291 organizations reporting 

 99 gave company notes as security for loans obtained, 82 gave no 

 security other than agreements to ship certain amounts of grain 

 to commission houses making the loans, 8 gave mortgages on the 



