Evening Republican, Volume 21, Number 55, Rensselaer, Jasper County, 7 March 1917 — FARMERS CO. BUYS HARRINGTON ELEVATOR [ARTICLE]

FARMERS CO. BUYS HARRINGTON ELEVATOR

Newly Organized Farmers’ Grain Co. Deride In Their Meeting Tuesday _ To Buy Elevator. The newly organized Farmers’ Grain Co., which was intending to build a new elevator on lots a block west of the Monon depot, has purchased the Harrington elevator and •has abandoned the plan of building. At a meeting of the dii eotors Tuesday at was voted to purchase of Harrington Bibs. Co., their elevator here and also the equipment, consisting of offices, scales and cribs at Kersey and Kniman. The price paid was $11,500 and possession is to be given May 1 of this year. It is understood that J. L. Brady received $16,000 for this elevator a few years ago and that the present owners are selling at a considerable loss rather than have the third elevator started.

•It seems to be practically the universal opinion that the Farmers’ Grain Co. have made a most excellent buy. It will be able to start at once with a mighty fine earning business and that it will be very successful there is no doubt. For a number of years there has been agitation among the farmers of this community to buy and operate an elevator. Such a company consisting of about one hundred and sixty farmers has been incorporated with the following officers: President H. W. Jackson, Vice-President Michael Kanne, Secretory Charles W. Postill, Treasurer Fred Waymire. The 'board of directors consists of Fred Waymdre, Jay W. Stockton, Michael Kanne, H. W, Jackson, F. L. Hoover, S. L. Thornton and Charles Stackhouse. For the object of showing the pur-, pose of toe company we quote a few sections from the by-laws of toe same: Section 1. The name of this Corporation is the Farmers’ Gram Company and it is Incorporated for a period of fifty (§0) years. Its principal office shall be in Rensselaer, Jasper County, Indiana. Sec. 2. The purpose cf this corporation is to buy and sell grain and other farm products andtaupplies on toe basis of truth * justice and economy, and for the mutual benefit of its stockhol iers and patrons. Sac. 3. The capital stock of this corporation .shall be fourteen thousand dollars, divided into two 'hundred eighty (280) shares of SSO each, and shall be non-assessable. Mutual Agreement—The object of the Farmers’ Grain Co. is to establish and maintain in Rensselaer, Ind., a fair and reasonable market for grain and other farm products and supplies, and these by-laws, in so far as posisble, shall be considered a mutual agreement for mutual protection bet veen this corporation and its stockholders os they may be now or become sumffrom time to (time.