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Below are the names and addresses of the wool and mohair advisory committee:

Charles F. H. Johnson, president, the Botany Mills, Passaic, N. J.
Alfred E. Colby, Pacific Mills, Boston, Mass.
T. C. Hampton, Rock Springs, Tex., representing mohair.
Worth S. Lee, Mountain Home, Idaho.
Floyd W. Lee, Albuquerque, N. Mex.
J. B. Wilson, McKinley, Wyo.
J. H. Lemmon, Lemmon, S. Dak.

Mr. Johnson and Mr. Colby were certified to the board as experienced “handlers or processors."

More detailed information may be secured by writing direct to the National Wool Marketing Corporation, 281 Summer Street, Boston, Mass.

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Headquarters of the National Wool Marketing Corporation at 281 Summer Street, Boston, Mass., and the location of the corporation's mem-
ber agencies are indicated on the above map. The broken lines connect the National with its 26 stockholder member agencies, including the
Central Wool Marketing Association at Boston, Mass. The Central is made up of six wool cooperatives, indicated by black squares. They are
not stockholders of the corporation. This makes a total of 32 wool and mohair grow ers' associations affiliated with the National. All of
the wool and mobair delivered to these 32 associations by their members is marketed by the National Wool Marketing Corporation.

NATIONAL PECAN MARKETING ASSOCIATION

One thousand pecan growers are marketing their crop through the National Pecan Marketing Association, with headquarters at Jackson, Miss. The National was established July 3, 1930.

Nineteen local receiving and grading associations, all members of the National, have been formed by growers with the aid of the Federal Farm Board since July 7, 1930.

Pecan growers of Southern States are marketing their pecans under the centralized plan operated by the National Pecan Marketing Association.

Nut growers of the Southern States own and control the National Pecan Marketing Association through their local organizations. These local associations are scattered throughout the pecan belt, which includes Texas, Oklahoma, Georgia, Mississippi, Louisiana, Arkansas, Alabama, Florida, North Carolina and South Carolina.

The National, with headquarters at Jackson, Miss., started operations on August 20, 1930. `Its articles of incorporation were filed on July 3, 1930.

The plan for this national marketing agency was developed by representatives from the pecan-producing States who met at the call of the Federal Farm Board at Montgomery, Ala., on June 23, 1930.

The association, similar to other national sales agencies established by cooperatives to meet the provisions of the agricultural marketing act, has been formed through the federation of 19 local pecan receiving and grading associations, as indicated on the accompanying chart. One thousand growers are members of these locals.

Any group of growers having sufficient volume of production to justify the economic operation of a local plant and complying with the provisions of the Capper-Volstead Act is eligible to buy stock in and to become a member of the National Pecan Marketing Association. A local association is required to have under contract not less than 100,000 pounds of pecans. Each qualified local elects a representative to serve on the board of directors of the National. Every member association buys stock from the National on the basis of one share of common stock, par value $100 per share, for each 10,000 pounds of pecans marketed.

LOCALS CONTRACT WITH NATIONAL Under a contract agreement all pecans and pecan products received by the local association are marketed by the National agency. This

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The above chart illustrates in skeleton form the organization set-up of the National Pecan Marketing Association. Each local association is a legal entity owned and controlled by the growers in the community. These associations are charged with the receiving, grading, and packing of all pecans which they receive. They distribute proceeds from sales of pecans to the member growers.

agreement authorizes the National to borrow money on the pecans and pecan products and to advance this money to local associations, enabling them in turn to make cash advances to their local grower members at the time of delivery. The accompanying map shows the location of local member associations that are affiliated with the national organization. Each local association is authorized to receive, grade, and pack pecans according to standards and instructions furnished by the National Association. The locals prepare the pecans to be marketed through the National and distribute to growers the proceeds from sales.

NATIONAL SELLS ALL PECANS The National Association merchandises all of the pecans and returns to its member associations the proceeds received after deducting the cost of operation. The returns to the growers are made by the local association after the cost of receiving, grading, packing, and other marketing services have been deducted

The National Pecan Marketing Association is operating on the theory that it is impossible to control production of pecans from year to year but that it is possible to control the supply reaching the market by carrying the surplus crop over from a season of overproduction to a season when the yield is low. The National takes into consideration supply and demand in its effort to market pecans in an orderly manner. It sells all pecans according to standard grades or brands,

CENTRAL SPREADS MARKETING PERIOD The central agency spreads the marketing period over the entire year, avoids dumping of the nuts on the market, and secures geographical distribution of the product. In addition, the central sales agency is attempting to eliminate speculation. It is seeking to stabilize price and is advertising to stimulate demand for pecans.

The National Pecan Marketing Association is eligible to borrow money from the Federal Farm Board. It is financed chiefly through the sale of stock to member associations, loans from intermediate credit banks, and deductions from sales of pecans. Primary loans are obtained by the National from intermediate credit banks on warehouse receipts. Additional money may be loaned to the association by the Federal Farm Board. This money is advanced to the growers as their pecans are delivered.

More detailed information may be secured by writing direct to the National Pecan Marketing Association, Tower Building, Jackson, Miss.

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