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Midland Cooperator
Minneapolis, Hennepin County, Minnesota
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The Big 5 Cooperative Association of Detroit Lakes, Minn., under George H. Johnson, rebounded from a 1938 deficit to $3,937 earnings on $128,001 sales in 1939. Annual meeting on March 19 approved surplus allocation, board expansion, and reelections.
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Sensational Comeback
The Big 5 Cooperative Association of Detroit Lakes, Minn., under the able management of George H. Johnson, made a sensational comeback during the past year, climbing from a deficit of $461 in 1938 to net earnings of $3,937 on sales of $128,001 for 1939. The 1938 sales totaled only $116,407.
At the annual meeting March 19, attended by 200, it was voted unanimously to place all earnings for the year in undivided surplus. The articles were amended to provide for a board of 5 to 11, and the number was set at 9 for the present. Sam Dokken and M. H. Stephens were reelected. Lunch was served to about 400 at noon in the high school.
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Location
Detroit Lakes, Minn.
Event Date
1938 1939, Annual Meeting March 19
Story Details
The Big 5 Cooperative Association, managed by George H. Johnson, recovered from a $461 deficit in 1938 to $3,937 net earnings on $128,001 sales in 1939, up from $116,407 sales the prior year. At the March 19 annual meeting attended by 200, earnings were placed in undivided surplus, articles amended for a 5-11 member board set at 9, and Sam Dokken and M. H. Stephens reelected; lunch served to 400.