A corporation is not good because it is large and old. It may very 
easily be stagnant in old age, ready to die, living on the effort of its 
youth. It may be too set in its ways, too conservative to change with the 
times, too reactionary to see the advantages of news ways of doing things. 
Likewise, a corporation is not good because it is young and virile. It 
may lack the tempering effect of years of experience, impulsive, unstable to 
the point of peril to its customers. 
But unlike men, corporations are not confined to one body, to one mind, 
to one set of ideas. When members of the company retire, others who have 
seen the effect of the years of business, who have worked with it, who have 
heard the counsel of the makers of its destiny take the key positions, and 
the organization moves on. If that new group has learned well, if the older 
members have been Vvdse teachers, if the responsibility can be shifted with 
confidence from one man to another, then the company can live. 
The Michael-Leonard Seed Company has been extremely fortunate in 
this same situation. Since 1884 the Sioux City Seed Company and the 
Leonard Seed Company have run separate courses, gaining in experience, 
in wisdom, in reputation. Gradually expansion was made, new positions 
filled from within the organizations, old positions carefully refilled with 
trained men whose hearts were in the spirit of the business. 
Now the two companies are united under a single name, the two 
organizations blended into one. New blood, new ideas, fresh enthusiasm 
are added to the wealth of experience that accumulates in half a century. 
With the spirit of youth tempered by years of experience, the Michael- 
Leonard Seed Company again greets its customers. Look for the same 
friendly cooperation you have always received; look for a steady throb of 
healthy progressiveness; look for the same people you have known for 
years, and have learned to trust. 
MICHAEL-LEONARD SEED COMPANY 
January, 1938 
