Jasper County Democrat, Volume 22, Number 23, Rensselaer, Jasper County, 18 June 1919 — NEARLY $9,000 DISTRIBUTED [ARTICLE]

NEARLY $9,000 DISTRIBUTED

To Stockholders of Farmers* Grain Co. at Annual Meeting Monday. The second annual meeting of , the Farmers’ Grain company of ' Rensselaer was very largely attended Monday afternoon at the court room in court house, nearly all of the 267 stockholders being present. The annual report showed that the company had done a gross business during the past year of $505,000, at a net profit of $10,900.58. There had been during the year 19 meetings of the directors, seven of which were regular and 12 called. At the last previous annual meeting it was voted to increase the capital stock to $25,000 by permitting stockholders to pay the difference between the sl6 dividend declared last year on each share of stock and the face value of the new Pholders had taken up this dividend |in this way, and where there were P 178 stockholders at the beginning of the year there were 267 at the close, several having transferred some of their stock to others In order to create a wider interest in the business. There were 413 shares outstanding at the end of the year, making the total capital stock outstanding $20,650. Several of'thn sl6 dividends from last year have not been taken up, which accounts for the fact that the outstanding stock is only $20,650. Dividends for the past 'year were declared as follows: Seven per cent interest on all stock; 2 cents per bushel refund on all grain sold the elevator by stockholders; 52 cents per ton refund on all coal purchased by stockholders. There waß left a small sum from the sale of coal and 1-9 cent per bushel on Igrain in the sinking fund. Checks, totaling $8,823.82, were distributed to the stockholders on the above basis at this meeting, a total of 481 checks. This was net after paying all expenses of operating the business for the past year and adding about $1,500 to the sinking fund.

The stockholders voted In favor of handling fertilizer, mill feed ' and binder twine by the company, and left the matter of remodeling the elevator office and building of storage rooms for the additional side lines to the discretion of the directors. In the election of directors, C. P. Stackhouse, Ed Ranton, Herman Hordemrfn, F. L. Hoover, werq reelected. Amos Davisson,"E. L. Fldler and John Kolhoff were elected in place of Michael Kanne, H. W. Jackson and Fred Waymirei .. The directors met after the r*> port of the vote had been made and re-elected F. L. Hoover as president; Ed Ranton, treasurer, and Fred Tyler, secretary. E. G, McCullum of Wolcott, state secretary of the Farmers’ Co-Opera-tive Grain company of Indiana, was present at the meeting.