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. 
From banks and 
commercial firms. 
bfifcJO 
gs 
From banks and indi- 
viduals. 
From com- 
mer cia 1 
firms and 
individu- 
als. 
03 
Elevators 
Average 
Creameries 
Average 
Fruit and produce. . . 
Average 
Cotton warehouses 
and gins 
Average 
Tobacco 
Average 
Miscellaneous 
Average 
§218,200 
12, 835 
$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 
$20, 000 
20, 000 
2>-JK 
262 
"29 
"72 
2S 
, 334, 963 
8,912 
66, 650 
2,298 
; 232, 925 
44,902 
68,000 
5,666 
135,000 
45, 000 
198, 947 
8,650 
Total. . . . 
Average . 
218,200 
12,835 
2, 503, 752 
51,097 
20,000 
20, 000 
451 
401 
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 
