COLLECTIVE BARGAINING 175 



association — to which all payments for sales are to be 

 made.i As pointed out in the preceding section, this as- 

 sociation has already acquired a number of plants, which 

 are now being operated on the cooperative plan. All re- 

 turns are to be prorated to the members, so that all mem- 

 bers stand on an equal basis. 



Voting in this association is to be entirely on a member- 

 ship basis. 2 



The cooperative association is to be financed by a rota- 

 ting fund method somewhat similar to the plan already 

 discussed in connection with the New England Dairymen's 

 Association. This plan can best be given by quoting from 

 an article written by the president of the association, as 

 follows: 



"The financing of this proposition is to be accomplished 

 by first securing loans from the producers, which loans are 

 to be represented by certificates of indebtedness. The 

 certificates are to be paid in five equal, yearly installments, 

 with interest by deductions taken from the proceeds of 

 milk after service charges have been deducted. This will 

 result in the producers owning all of the facilities for 

 handling the milk at the end of five years. It is then pro- 

 posed at the end of each year to issue new certificates for 

 the amounts deducted from each producer's milk, and 

 this process to continue during the life of the association, 

 so that the producer's investment in the plants will be rep- 

 resented by the service he has received from the plants." * 



The Chicago Milk Producers' Association was incor- 

 porated February 26, 1909, as a non-stock company.* 



1 See By-Laws Proposed for Locals, Dairymen's League News, June lo, 1919, 

 pp. 4 and 5. 



* HoarSs Dairyman, Jan. 30, 1920, p. 76. 



' Fuller, Bradley, in Hoard's Dairyman, Jan. 30, 1920, p. 76. 



* Milk News, Oct., 1917, p. 2. 



