Show FARMERS GRAI FIRM IN FIGHT TO In RETAIN LIFE r. r Former ormer Farm arm Bureau f 1 Man an Insists Firm ts Will r Me Met Meet t Debts CHICAGO July 8 S tho AP The P The early unscrambling of off tho Grain Marketing company Into I the four fouX grain companies from which It was formed a n year ago ago I h. h has s been announced to banking creditors creditor's rs her l at the s same time denied by officials of the farmers' farmers t cooperative ve co concern cern i While 1 bankers who helped finance j the e merger mercer and who were responsible sible for the dissolution story said that the grain marketing heads hep-ds were vere A preparing to return the prop- prop ties ei valued at to the j t. t companies which entered the lenter- lenter were If r lse Gray Silver SlIver president of the concern concern insisted that the report was untrue and th that t It h had d until s the tho latter part of the tho month to e obligations to the vendors vendo vendors s. s v. v No proposition for bre breaking pp will be bo at least not be before before before be- be fore July 28 Mr Silver Sliver s said id Failure of the company t to per per- er- er enough farmers to buy touy stock in the tho largest farmers farmers' coop cooperative project ever attempted was wag held re responsible responsible responsible re- re for the discussed dissolution tion Under the tho in Incorporation contract contract contract con con- tract made July 28 1924 the company company company com com- pany was given a year vear In which to sell sen stock enough tox retire worth of stock given in exchange exchange exchange ex ex- change for an adt ad advance anco anca for working capital ENDS STOCK SELLING The grain company hAs has admitted that it virtually has disbanded its promo promotional lonal forces and stopped Its stock selling campaign Banking Interests which advanced money to the concern have been assured that their advances ate are fully covered Mr Silvers Silver's statement was seconded second second- ed by EmanUel F F. Rosenbaum export export ex ex export port director of the company and andone one onee of the vendors of a a. merged company and by John Co Coverdale I treasurer secretary-treasurer of the concern The Grain Marketing company was Incorporated a year ago under enabling legislation and had for lor its objective e eve evet t control by farmer farm farm- armer arm arm- er producers The J J. J Rosenbaum Grain Grata company Rosenbaum Brothers Broth Broth- Brothers ers and the Armour Grain company of Chicago and the Noland Davis Merrill l company of Kansas City proposed eo lease their proper properties lies to the cooperative company and r olio oit oti tem temporary or i basis as a board of managers The American FArm Bureau fed federation oration Jhc he plan and Its officers bec became me incorporators of the cooperative concern Some opposition opposition tion Ion developed from Influential agricultural agricultural agricultural ag ag- ag- ag leaders and farm Jour jour- nals Recently the Ute Illinois agrIcultural agricultural agricultural agri agrI- cultural association Joined the op op- position A A. month ago the Illinois com- com mc 6 4 commission required the company to sign an agreement with the Illinois agricultural association that It mould sell no more stock In Illinois before July 2 28 the date set for 10 with the tho merged companies The Indiana securities c commission also withheld permission sion to the tho marketing company to sell stock in Indiana and application application application tion for permission to sell stock In Ohio was withdrawn Announcement was made this week that the cooperative lve ive company had disbanded Its promotional forces and stopped promoting the stock Banking Interests which had advanced advanced ad ad- van ed money to the conc concern rn a year ago for tor operating expenses have beer been assured they would be fully repaid and the stockholders farmer equity In t the e company Is fully ered by c current liquid assets of officers officers officers of- of said gald |