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Bell, Florence C. (Florence Colfax), 1899- / Farmer co-ops in Wisconsin

Revolving-capital plan is popular,   pp. 24-26 PDF (794.5 KB)

Page 25

tain times of the year, because it is
necessary for the association to store
from $150,000 to $200,000 in evapora-
ted milk stock in order to take care of
the winter demand when production
is light but sales are about equal to
those in June. When patronage divi-
dends are declared, they are issued to
the farmers in the form of certificates
that bear no interest. Each producer
applies the first $50 in dividends on
common stock. He may convert cer-
tificates subsequently issued into either
additional common stock or preferred
stock. The cooperative has never
failed to pay interest on the preferred
stock, and banks throughout the terri-
tory will lend farmers 75 percent of
its value. Each year the association
retires an amount of the oldest pre-
ferred stock outstanding; $25,000 of
the 1939 earnings was used for this
purpose. Farmers may, however, hold
their preferred stock as an investment,
if they wish to do so. After a pro-
ducer has ceased to ship for a year, the
association retires his common stock
at par. By means of this method of
financing, the control of the coopera-
tive is always in the hands of active
producers and shippers.
Antigo Mik Produc   Cooperadve.-
Another association to process milk
and sell the commodities was organ-
ized by farmers in the northern section
of the State in 1930-the Antigo Milk
Products Cooperative in Langlade
County. At the plant of this organi-
zation, the butterfat of more than 700
patrons is manufactured into a di-
versity of dairy products, which are
sold through Land O'Lakes Cream-
eries, Inc. Products sold in 1939 for
more than $750,000 included sales of
cream for manufacturing amounting
A close-up view of the condensed milk ma-
chinery installed by the Consolidated
Badger Cooperative in its main plant at
Shawuxno, Wis.
to more than $340,000; butter $235,-
000; and milk powder $170,000. An
average of the prices obtained for the
manufactured products and milk is
paid to patrons, based on the butterfat
quality delivered by them. In 1934
the Antigo Milk Products Cooperative
made about 4,000 gallons of maple
sirup, and shipped to Minneapolis the
first entire carload of sirup ever assem-
bled in the State. In the vacuum pan
that was used during the day for
evaporating milk, the maple sap was
condensed at night. This service was
rendered for another co-op, the Antigo
Cooperative Maple Syrup Producers
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