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Midland Cooperator
Minneapolis, Hennepin County, Minnesota
What is this article about?
The Farmers Cooperative Oil Co. of Merrill, Wis., announced 15% sales increase to $194,370 and 55% earnings rise to $15,930 for 1940 at their Feb. 3 annual meeting. A 7% patronage refund was declared, directors reelected, and a group insurance plan adopted.
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OCR Quality
Full Text
Net Savings Gain
55 Pct. In 1940
The Farmers Cooperative Oil Co. of Merrill, Wis., announced a tremendous gain in both volume and net earnings for 1940 over the previous year at the annual meeting Feb. 3. Total sales increased from $169,381 to $194,370, a gain of about 15 percent, and earnings made a remarkable jump of 55 percent from $10,227 to $15,930. Erich Lenz is manager of this growing association.
A patronage refund of 7 percent was declared, half payable in cash, half in stock.
More than 300 persons attended the meeting and reelected Directors William Rosche, Paul Genrich and Bill Natzke for three years. They also voted to adopt the group patronage life insurance plan explained to them by Lynn Matteson of Cooperative Insurance Mutual.
What sub-type of article is it?
What keywords are associated?
What entities or persons were involved?
Where did it happen?
Domestic News Details
Primary Location
Merrill, Wis.
Event Date
Feb. 3
Key Persons
Outcome
sales increased 15% to $194,370; earnings rose 55% to $15,930; 7% patronage refund declared (half cash, half stock); directors reelected for three years; group patronage life insurance plan adopted.
Event Details
The Farmers Cooperative Oil Co. announced gains in volume and net earnings for 1940 at the annual meeting. Erich Lenz is manager. More than 300 persons attended and reelected directors. They voted to adopt the insurance plan explained by Lynn Matteson.