Show SUGAR BEET settlements EXPLAINED at the county directors meeting held last wednesday the 1921 sugar beet contract was analyzed and explained a motion by john H payne glenwood was placed that geo F holmstead county agricultural agent lie bo instructed to publish in the richfield reaper an explanation of tho the contract as was presented at that meeting therefore an attempt will be made to show by example how settlements will be made to the grower to make the explanation as brief as possible it is taken for granted that tho the contract has been read care fully by all interested and only the settlement section needs clarifying beginning with tho the second sentence in the second paragraph section 6 of the contract we read A payment of per ton will be made on the day of each month for beets delivered during the previous month subsequent settlements will be computed on oil the following dates and pa payments made fifteen days thereafter af ter first subsequent settlement fob ruady 1 1922 second subsequent settlement tl june 1 1922 final settlement october 1 1922 the first and second subsequent settlements will be eighty per cent 80 of the full balance duo on each date on that portion portio I 1 i of all beets beet s received from the grower as the total sugar sold to that late date bears to the total sugar produced this can call best be explained by taking in an example suppose a farmer delivered tons of beets to the company sugar selling at 8 per hundred pounds and beets testing alg per cent sugar po tha contract is bascia on tile tho price of sugar the company sells at during tile the entire year wo we dont know what it will bo be but tor for our purpose we will take S per cwt cat as an all average throughout the year in the table on the contract 8 per for sugar and 16 per cent beets will bo be per ton for sugar beets therefore ewe we will uso use these figures in our example A farmer deli delivery veni tons of beets tit at per ton will be worth of beets at the time the beets are delivered he receives receive per ton or on february 1 1922 ho he will receive 80 per cent ot of the full balance due on that portion of all beets received from each grower as the total J ugar sold bears to the total sugar produced the full balance due this farmer would be less the MO received or suppose half of the sugar produced has been sold by february 1 1922 then the grower will receive SO per cent of one halt half of or the 20 per cent or 39 being retained by the company on june 1 1922 wo we will say another one fourth of tile the sugar has been sold the farmer will this time receive SO per cent of one fourth of the full balance due or SO per cent of one fourth of or 74 the 20 0 per cent or 1850 being retained on october 1 1922 final settlement will be made he has coming then the money for the one fourth of the sugar unsold june 1 or one fourth of which is in addition he gets the 20 per cent or 39 deferred from february 1 settlement settle ent also the 20 per cent or 1850 deterred deferred from june 1 settlement adding these settlements we get time of delivery of beets receive feb 1 80 of of june 1 80 clo of 14 of oct 1 full of A 11 of also 20 deferred february settlement also 20 deferred june settlement 1850 total |