Midland Cooperator

Whitewater Tops Half Million
Volume Mark in Record Year

One of the sweetest-looking cooperative financial statements seen in many a moon was presented by Manager John E. Roby to the annual meeting of the Whitewater Consumers Cooperative at Whitewater, Wis., on Dec. 20. It showed record sales of $509,420 with net savings, after federal income taxes, of $38,876, as compared to a net in 1944 of $23,660.

Capital equities now total $156,175, with total assets at $175,027. Accounts receivable went down from $6,206 to $5,882.

A total of $21,500 was paid out in cash patronage refunds, $10,000 in stock and stock credits, and $10,000 in patrons equity reserves.

Members approved a change in the name of the association to Badgerland Co-op, Inc. Wesley Loofboro was the winner of the draw with Lloyd Jones to determine who was to get the $25 war bond for coming closest to selecting the new name.

The back page of the financial statement carried the big, bold letters A, T, O and M, standing, respectively, for Action by Members; Teaching Cooperation; Operations of the Co-op; and Margins. Put them all together and they spell ATOM. "the most powerful force known," was the conclusion. Manager Roby and Leroy Douglas 'fessed up to having thought up the ATOM device.

Each of the directors reported on activities in areas they represent. All were reelected. They are A. L. Lynd, president; Melvin Mason, vice president; Sidney Hackett, secretary-treasurer; Lee Cartier, Emmett Yale and John Godfrey.

Chief speaker at the meeting was A. J. Smaby, Midland's general manager, who showed how the wholesale and the local cooperative dovetail operations all the way down the line from production to consumption.

Some 500 persons were fed at lunch and another big crowd came around in the evening for the music of the Swiss Family Fraunfelder and for dancing to Bud Wilbur's orchestra in the evening.