File:Illinois Agricultural Association record (microform) (January 1931- December 1934) (16053931593).jpg

Title: Illinois Agricultural Association record (microform)
Identifier: 5060538.1931-1934
Year: 1931- December 1934 January 1931- December 1934 (Jan0s)
Authors: Illinois Agricultural Association; Illinois Agricultural Association. Record
Subjects: Agriculture
Publisher: Mendota, Ill. : The Association
Contributing Library: University of Illinois Urbana-Champaign
Digitizing Sponsor: University of Illinois Urbana-Champaign

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The amazing progress an* success of co-operative buying and handling of petroleum products by Illinois farmers is emphasized again in the annual report of Illinois Farm Supply Co. One County Farm Bureau after another has organized to distribute gas- oline, oil and other farm supplies until today 58 county companies operating in 90 counties are associated in this ex- tremely worth-while project. Like other CQ-operative enterprises which preceded it, the co-operative oil company is definitely narrowing price spreads and lowering the cost of quality products to members through patronage dividends. The county service companies have had at least three favorable conditions mak- ing for their success. First is the rather wide margin between large volume wholesale prices, and retail prices. This margin has been fairly well stabilized by a few dominant petroleum companies. Second, the good will, power and confi- dence created by the Farm Bureau movement in this state which quickly provided a market for a substantial vol- ume of products. Third, the profit-shar- ing or co-operative principle evidenced by a steady flow of patronage dividends back to Farm Bureau member customers. The importance of good management and aggressive salesmanship goes with- out saying. This is clearly indicated by the rather wide differences in volume of business and earnings between companies operating in adjacent territory. .■f: As the co-operative oil business grows in volume, it^ cuts more and more into the business of private companies. Nat- urally this is irritating. Sooner or later there will be retaliation, price cut- ting and narrowing of margins. That time is fast approaching, if it is not already here. Attempts will be made to entice farmers away from their own co- operative companies by attractive price offers, generally for inferior quality products. This sort of thing has happened in every case where organized farmers have attempted to remedy a wrong, stop price gouging, or improve their economic condition. Why should we expect any- thing different in the oil business? ••> ^ ■. - If and when this happens, and com- petitors out after the scalps of the co- operatives slash their prices, let's not forget how they got that way. Intelli- gent farmers will take the long view and stay with their own companies. Just 10 .■: !. ' «.■'• '" , '. .;• •■. • • I-•■•,. V ••.•; ^ xr: '.. STANDING BY HIM
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AJf9/MM^^ as well-managed co-operative creameries raise the general level of butterfat prices in the districts where they operate, so do co-operative oil companies serve to protect farmer patrons on the cost and quality of petroleum products. E. G. T. Corn Loan Helped Neighbbrs in LaSalle ■v '"One of, my neighbors had between 4,000 and 5,000 bushels of corn last fall," says Archie McPhedron of Oglesby, president of the Mississippi Valley Milk Producers. "He told me not long ago that if it had not been for the corn loan program sponsored by the I. A. A. he would have sold his com for around 31 or 32 cents per bushel to meet payments he had to make. When the corn loan offer came he got a loan of 45 cents a bushel and held his crop. As a result he finally sold for a much higher price. "Without a working organization of farmers neither the com loan nor any of the other price-raising plans would have been possible," says Mr. McPhedron. Most Counties Receive Corn-Hog Payments More than eight million dollars in corn-hog benefit payment checks had been distributed to Illinois contract signers by the second week in October. As we go to press nearly every coun- ty in the state has received all or at least a substantial part of the first corn-hog benefit payment which is two-fifths of the payment on hog allotments and one- half on corn acreage reduction. Illinois contract signers will receive between $35,000,000 and ;40,000,000 when payments are completed in 1935. The second payment is scheduled to be made some time after the middle of Novem- ber, and the third after the middle of February. . ; v § ■?!: A total of $352,000,000 in rental and benefit payments were disbursed up to October 5 to co-operating farmers by the AAA. '^^'--^ ;--:.vV-^: ■-^^- A Hoax The mysterious farmer wlio Is sup- posed to have received $1,000 in the corn-hog program when the most he ever received previously from the sale of hogs was $400 in one year, is a "preposterous hoax," according to Secre- tary Henry A. Wallace. '" "This story which has been going the rounds is coming to be one of the most familiar ghosts of the recovery pro- gram," he said, ■■^■^(y-'-^- ■::.■■■'•^■■■^'■■y.-'0-:^' -.■ '■■1 •'.' ■• • '•..;• * * >. •■ .*' • *' I. A. A. RECORD I* 4 o ■ ■ ■• . A- ■

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