Evening Republican, Volume 23, Number 150, Rensselaer, Jasper County, 22 June 1920 — ELECT NEW DIRECTORS [ARTICLE]

ELECT NEW DIRECTORS

FARMERS GRAIN COMPANY COMPLETED ANNUAL MEETING MONDAY AFTERNOON < ; The stockholders of the Farmers Grain Company completed their annual session in this city Monday afternoon. The business of the forenoon has already been given by The Republican. As provided by the new by-laws nominations were called for out of i which three candidates were to be| •selected, who with the seven directors were to be candidates for directors for the ensuing year. The following were nominated and received the votes indicated: George. Kanne 85 Bert Amsler -76 Fred Waymire — — ----- 75 W. V. Porter 55 Elias Arnold - 53 Jerry Branson C. T. Battleday 19 W. U. Pullin - 5 George Kanne, Bert Amsler and Fred Waymire, having received the highest number of votes cast, they, with the seven directors who served during the past year, were placed ‘in • nomi nation for directors for the coming year: The vote resulted as follows: _ Fred Waymire ———l27 George Kanne 123 Bert Amsler Edward Amsler 118 Amos Davisson - 117 John Kolhoff 107 Emmett Fidler —v—--'S’- 90 Henry Hordeman _— -•— 57 C. F. Stackhouse —57 F. L. Hoover — J" The first seven receiving the highest votes were declared elected directors for the ensuing year. F. L. Hoover, who was a director and president of the board for the past year, asked that he be not reelected on account of ill health. E. G. McCullum, of Indianapolis, secretary of the Indiana Farmers Grain Dealers’ Association, present and gave some very helpful suggestions. A. F. Wine of Chicago, editor of the American Co-Operative Journal, was also present and made an address. This paper is the official organ of the Co-operative interests of the middle west. Layyear the board 'of directors paid for a year’s subscription for each stockholder and on motion the board was instructed to re-subscribe for the -Journal for another year. A copy is to be sent to each stockholder. , ■ ; Below we give some of the interesting points in the managers annual report as found by the auditor of thq National Grain Dealers’ Association: ' ’ 301,635 bushels of gram were bought at a cost of $337,901.81. 299,841 bushels were sold for. $373,486.92. . . Gross profit on gram, $15,585,11. Shrinkage 1,794 bushels. Per cent of profit based on purchase, 4.3. Per cent of profit based on sales, 4.2. . , x Whole volume of business done at Based on cost --— Based on sales 414,437.23 Gross profit For rental 15.00 Total gross profit based on purchases, 5.4 per cent, based on sales, 5.01 per cent. ■ , " I Operating expenses at Rensselaer, $13,508.23 or 3.4 per cent, based on purchases or 3.2 per cent based on sales. . Net profit at Rensselaer, $7,753/15, or 2 per cent on purchases or 1.9 per cent based on sales. Bushels grain purchased, 49,067, at a cost of $61,&84 59. Bushels grain sold, 48,636, for which $63,734.79 was raerrod. r This was v a gross profit M »1,800.20 and a shrinkage of 481 buSh Expenses at Surrey we je $879.50, leaving a net profit of $920.69. Gross profits at Surrey were 2.9 per cent based on cost and 2.8 per cent based on sales. Expenses at surrey were 1.45 per cent on cost or 1.4 based on sales. This leaves a net profit on cost of 1.5 per cent or on sales of 1.4 per cent. Coal Account. On hands, last report, 400 tons, cost $2,287. Purchased during the year, 8,276 tons, cost Total coal, 8,676, at $26,416.48. • Total sales for the year, 8,766 tons, $81,440.01. Gross profit, $5,058.53. Inventory, $300.00 . Total Gross profits, $5,353.58. Expense of handling coal, . SB,I profit on &>al, $2,180.19. Gro.. Profit, for tho On oats On corn On wheat 4 »®BM 7 I ' —“— 87 'On fertilizer oa’qa |COAI ZplWeW;. I jmmeovone ■ jtwon v I Labor --— - — 9 ISalaties — 2,190.00

KITO QQ Director’s salaries 110.00 Depreciation 1,668.87 Insurance 9 4 2-7& Total expense . ---$10,33489 Net profit at $7,lit nf 18 678 84 I I After 'adjournment Renton nresidenL I _A* A W !■ I Bert Amsler, yice-premaent. I > Geoiwe Ran ne. treasurer. e V e ’ -retarv F. S. Tywr, secretary.