12 
THE PERCHERON REVIEW 
Brood Mares on Illinois Farm 
Secretary Dinsmore : In closing my report, which 
Assistant Secretary McFarland has very kindly read for 
me, I merely wish to say that we need more of the fight- 
ing spirit among our horsemen, with respect to fighting 
the encroachment of other types of motive power. We 
all know that, measured by true economic standards, 
horses furnish the cheapest and most efficient type of 
motive power that we have. 
I have been surprised many times to find that 
breeders were willing to throw up the sponge on the 
mere say so of salesmen of other types of motive power. 
That is not the right spirit. We need to develop more 
of the fighting spirit. We need to add to our informa- 
tion, to our literature, and to the knowledge which we 
have. We need to put in condensed printed form the 
experiences which many men have gained at much cost 
and we need to carry out an aggressive campaign to con- 
vince many who do not know that horses do, indeed, fur- 
nish the most efficient and the cheapest form of motive 
power. If your neighbor, because of lack of knowledge, 
goes out and buys other types of motive power instead 
of buying good draft horses, he is cutting your market 
just that much. He usually is doing himself a fianan- 
cial damage and this means an actual cash loss to your 
community. 
We need to fight for the draft horse interests where- 
ever we can. We need more of the bulldog spirit. 
Many farmers who are rearing horses are inclined to 
give up because, forsooth, some glib-tongued salesman 
says that the horse is a back number. This is not true. 
Engineers know that the horse is the most efficient power 
unit ever made, except man himself and we need to put 
facts, proving this in the hands of every Percheron 
breeder so they, in turn, may educate the farmers in 
their community, because it is the average farmer rais- 
ing grade horses who really makes the market for pure- 
bred Percheron horses. Let us drive home to every one 
of our Percheron breeders that fighting spiTit, that 
never-say-die spirit, and we will have a much more rapid 
improvement in the draft horse business. I thank you. 
(Applause.) 
President White : Gentlemen, you have heard the 
Secretary's report. What is your pleasure? 
Mr. Augstin : I move that the Secretary 's report be 
approved. 
Ml-. Boyd : Second the motion. 
President White : All those in favor of the motion 
signify by saying "I." Contraiy "No." Motion is 
carried. 
The next order of business is the report of the chair- 
man of the finance committee, Mr. Dunham. 
Mr. Dunham : Mr. President and fellow members of 
the society under the by-laws the books of the society 
are to be audited each year before the annual meeting 
by a certified public accountant. That has been done 
by Albert T. Bacon, certified public accountant in the 
Continental and Commercial Bank Building, and your 
committee begs leave to submit that report as their re- 
port. That is the audit report for the year ending 
October 31, 1919. 
November 19, 1919. 
The Percheron Society of America, 
Union Stock Yards, Chicago, 111. 
Gentlemen : 
We have audited the books of account of your Society for the 
year ended October 31, 1919, and attach to this report the follow- 
ing statements: 
BALAJ^CE SHEET AS AT OCTOBER 31, 1919 
Income and Expense Statement for the Year Ended 
October 31, 1919 
In the performance of the audit we have verified the bank bal- 
ances and these agree with the amounts called for by the books. 
Certificates have been obtained by us from the banks confirming 
the amounts held on behalf of the Society. 
We have examined the securities for the investments shown 
on the Balance Sheet and ascertained that all of the income due 
from these has been received and properly accounted for. 
All the cash received during the year, as shown by the books, 
has been deposited in bank and the disbursements for the year 
have been made on approvd vouchers or other sufficient evidence. 
In our opinion the books of account have been carefully kept. 
Respectfully submitted, 
ALBERT T. BAOO'N, 
Certified Public Accountant. 
THE BERCHEEiON SOCIETY OF AMERICA 
BALANCE SHEET 
October 31, 1919 
Cash in Banks : 
Treasurer 's Account — 
Stock Yards Savings Bank, 
Chicago 
Secretary 's Account — 
Du Page County State 
Bank, Glen Ellyn, 111.. .$5,400.08 
Live Stock Exchange Na- 
tional Bank, Chicago.. 2,581.76 
$ 4,416.89 
7,981.84 $ 12,398.73 
Sundry Securities $109,997.00 
Accrued Interest on Investments 1,278.60 111,275.60 
Accounts Receivable (Customers) 194.45 
Inventory : 
Breeders' Record Books $ 115.00 
Binders 886.15 
Horse in War 469.50 1,470.65 
Office Equipment (Less Depreciation) 2,968.35 
Books and Records of American Percheron Horse 
Breeders ' Association and Percheron Registry 
(Cost) 12,130.00 
Total $140,437.78 
A Scene on an lovca Farm 
