Evening Republican, Volume 20, Number 269, Rensselaer, Jasper County, 9 November 1916 — FARMERS BUILD TOWN; RUN IT WITHOUT HELP [ARTICLE]

FARMERS BUILD TOWN; RUN IT WITHOUT HELP

Fernaid, Io a, Is Common Center Where Interests of Ruralists Are Consolidated Des Moines, lowa—Out on the prairies of lowa is one of the most novel towns of the country. It; is called Fernaid. At Fernaid there is no bickering between townspeople and rural residents as is often the case. The farmers for miles around feel perfectly free to go to town without wearing starched sh irts and col la rs. There is an air of mutual interest between town arid country which would gladden the heart of any rural life expert. And the reason for this is that the town is owned by the farmers them selves. When he goes to town to buy a tar of soap or a new plow the farmer buys of himself, or rather he is a partner in the store. When he goes to the elevator he sells to his company the grain he has brought in. Perhaps his next step will be at a bank owned and managed by the farmers themselves. All of Fernaid's business enterprises are owned by farmers living within a radius of three or four miles. Tho built fourteen years ago when the railroad was built, Fernaid has a population of only 100, and probably will not grow much larger in the years to come, because of the nearness of numerous other towns. The town was founded by the farmers in order to avoid making long hauls in delivering crops to the railroad. A line elevator was built shortly after the town was founded, but it was until about two years ago that it was purchased by a group of farmers operating under the name of the Farmers’ Grain Company. H. S. Fleagle, the farmer wso put thru the deal was made manager of the elevator. This investment proved a wise one, for in the first year under the new management the elAvator paid a profit of 95 per cent on the $5,000 capital. The Farmers’ Lumber Company was organized by four farmers with a capitalization of $6,400. Mr. Fleagle also managestheaffairsof-this company and its SIO,OOO stock. Another enterprise founded by the Farmers Cooperative Mercantile Company. After a brief period of competition the rival mercantile store w as, comp elle d to close its doors leaving the management of the town and its business affairs entirely in the hands of the farmers themselves. The town’s founders then establish ed the Farmers’ Savings bank, with a capital of SIO,OOO. The deposits have reached the $40,000 mark in three years. Mr. Fleagle’s ability for management was recognized a third time when he was made vice- president of the bank. Fernaid is in Richland Township in Story County,