OCR Text |
Show Utah Poultry Gives With $117,000 To Farms In Area The Utah Poultry and Farmers Farm-ers Cooperative has distributed more than $117,000 to farmers and poultryment of this area and the state during the past week to help brighten up the 1953 holiday season. A total of $70,465 was distributed dis-tributed as a patronage refund on feed purchases made through the cooperative in 1944. Feed was bought at the lowest market prices at that time. This refund represents an additional saving to purchasers as a result of efficient ef-ficient operation by the cooperative. cooper-ative. These savings are returned re-turned to members because the cooperative is not a profit-making organization, but rather a service organization. Another payment of $47,309 has been made to members on certificates of interest as of December 1953. The certificates of interest represent the members' mem-bers' investment in the cooperative. cooper-ative. Interest payments are made annually on these certificates, certifi-cates, according to' C. K. Ferryc, assistant secretary and auditor. These payments bring the total distributed to members in patronage or interest payments to $329,493 for the year 1953, reports Clyde C. Edmonds, general gen-eral manager of the Utah Poultry Poul-try and Farmers Cooperative. Local payments have been and are being made through the local branch plant. |