Agriculture -- Canada; Agriculture -- Canada -- Societies, etc.
As this was approved by the Grain Growers' Grain Company and the
Manitoba Association officials steps were taken to go into the matter
in detail, the Saskatchewan organization having signified its intention
of withdrawing from present action. President C. Rice-Jones, of the
Alberta Farmers' Co-Operative Elevator Company, and President T. A.
Crerar, of the Grain Growers' Grain Company, were asked to give the
matter careful thought and make their recommendations to their
respective boards of directors.
There followed a joint meeting of all those interested. It was held at
Winnipeg and the result was a recommendation that the Alberta Farmers'
Co-Operative Elevator Company and the Grain Growers' Grain Company be
amalgamated under the name "United Grain Growers, Limited." [1] When
the matter finally came before the farmers concerned--at their annual
meetings in 1916--it was decided unanimously to go ahead with the
amalgamation of these two farmers' business organizations.
Accordingly application was made for necessary changes in the charter
of the Grain Growers' Grain Company and these changes were granted by
Act of the Dominion Parliament in June, 1917. The authorized capital
stock of United Grain Growers is five million dollars. Its annual
meetings are to be held in the different provinces alternately. The
shareholders are formed into local groups, each represented by
delegates at annual meetings, these delegates alone doing the voting.
Proxy voting is not allowed. The charter is designed, in brief, to
introduce the system of internal government that has been in practice
by the Alberta Farmers' Co-Operative Elevator Company and the
Saskatchewan Co-Operative Elevator Company and has proved so
satisfactory in every way.
This "merger" is unique in that the objections to a monopoly cannot be
urged against it. There is no watered stock. With proxy voting
eliminated no group of men can gain control of the company's affairs.
Stock holdings by individuals is limited to $2,000 on a capitalization
of five million and no man can grow rich by speculation with assets.
Instead of exploiting the public the aim is service--reduction of
prices instead of inflation.
United Grain Growers, Limited, have begun their first year's business
as an amalgamated farmers' concern, all the final details having been
settled to the entire satisfaction of the farmers interested.
The fact that the Saskatchewan Grain Growers' executives did not decide
to amalgamate their co-operative marketing machinery with that of the
others just now must not be misconstrued as a lack of harmony among the
leaders of these powerful institutions. For they are meeting
constantly in their inter-provincial relations, for mutual business
advantages and in the broader educational aspects of the entire
Movement.
Public-domain text, read in full here on John Shaqi.
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