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Show i . . i i f , I i. If J " j"" J. F. Reed of Minnesota. R. A. Cowles of Illinois. E. H. Cunningham of Iowa, President. The U. S. Grain Growers, Inc., the largest co-operative marketing attempt by farmers, lias been completely reorganized re-organized with the Mid-west farm bureaus bu-reaus In control. An election of a new board of directors direc-tors was the first formal step In reorganization. reor-ganization. The new board elected the following officers : rresldent, E. H. Cunningham ; vice-president, vice-president, H. L. Keefe ; secretary, J. M. Mehl ; treasurer, Chas. E. Gunnels. Secretary Mehl has been assistant to the president of the U. S. Grain Growers, Grow-ers, Inc., since its Incorporation. Mr. Gunnels is treasurer of the American Farm Bureau federation and is permitted per-mitted by that organization to serve the grain growers without pay. From the board of directors an executive exec-utive committee of three was elected B. H. Cunningham, R. A. Cowles and J. F. Reed and vested In It broad powers pow-ers for carrying on the affairs of the organization. The subsidiary U. S. Grain Growers' Sales company is controlled con-trolled by this executive committee. An advisory executive committee of three w as appointed to advise on questions ques-tions of finance and marketing. The members of this committee are : Bernard M. Baruch, financier. New York ; Alexander Legge, president of International Harvester company, Chicago; Chi-cago; Frank O. Wetmore, president of First National bank, Chicago. All three have accepted appointment on this, committee. Secretary of Agriculture Henry C. Wallace and Secretary of Commerce Herbert Hoover were invited to serve as ex-officlo members of the new board of directors, representing the public. Reorganization Effected. The reorganization of the U. S. Grain Growers, Inc., was effected through the recommendations of the Mid-west farm bureau creditors' committee. This committee consists of E. H. Cunningham, Cunning-ham, secretary of the Iowa Farm Bureau Bu-reau federation ; W. S. Hill, president of the South Dakota Farm Bureau federation, and J. W. Coverdale, secretary secre-tary of the American Farm Bureau federation. It was authorized on May 13 in a conference of the Mid-west farm bureau presidents and secretaries and has been at work ever since untangling un-tangling the affairs of the farmers' co-operative grain marketing organization organi-zation as disclosed in the first annual meeting in Chicago on March 31. The creditors' committee holds powers of attorney for most of the creditors who have claims against the U. S. Grain Growers, Inc. The plan for reorganization reorgani-zation was worked out by the creditors' committee and submitted to a meeting of the Mid-west farm bureau presidents presi-dents and secretaries in the office of the American Farm Bureau federation August 3. The "recommendations of the committee were unanimously adopted. E. H. Cunningham, president of the U. S. Grain Growers, Inc., issues the following statement regarding the affairs af-fairs of the co-operative grain marketing market-ing association : "The U. S. Grain Growers, Inc., involves in-volves the supreme effort of the American Amer-ican farmer to follow his own product closer to the ultimate consumer. The movement was born of the highest-minded highest-minded sincerity on the part of the grain farmer, necessity forcing him to seek Improved methods of marketing the product of his toll. As the new management comes Into control of the U. S. Grain Growers, Inc., we have no Utopian schemes to propose, no visionary vis-ionary plans to work out. We recognize recog-nize certain economic laws which cannot be flouted, and certain business principles which cannot be ignored without inviting disaster. We have no fight against existing agencies and methods. But we do believe most sincerely sin-cerely that the men who grow grain have the right to sell what they produce. pro-duce. Selling Agency Planned. "And we plan to create a producers' selling agency, which shall function in strict accordance with sound business methods of procedure. We do not expect ex-pect to establish any great and spectacular spec-tacular reforms while the farmer waits. We hold out no flattering promises to producers that we will be able to reach out into space and get 25, 40 or 50 cents a bushel more for their grain than the market justifies. Our grower members must recognize that fact in the beginning, and they will be called upon to exercise patience, as well as co-operation. "We will do our best to rehabilitate the organization upon sound business principles. We are not fooling ourselves, our-selves, and we are not going to attempt to fool anybody else. At the proper time, after we have gathered up the loose ends, we shall make a full and frank statement to the public. We propose to start upon a modest scale that will insure financial solvency, and to grow and expand as experience leads and business conditions justify." |