Farmers Co-operative Company
A meeting was called March 28, 1908 in regard to starting a farmer grain,company in McCallsburg, Iowa. A.K. Guthrie was appointed as chairman, Joseph Miller acting president, M.G. Pearson acting vice president, B.H. Baumgardner acting secretary. A committee of five was appointed to investigate and report. These were J.E. Thomas, T.O. Johnson, S.H. Twedt, M.T. Waula and John Helvig. T. O. Johnson resigned at the April meeting and F.F. Menzel was elected to replace him.
The first election of officers was April 18, 1908. Joseph Miller was elected as president, Sam H. Twedt as vice president and B.H. Baumgardner as secretary. Directors elected were F.J. Baumgardner, A.G. Graves and F.F. Menzel. The president and vice president also served as directors; making a total of five. It was decided to buy an elevator at this meeting. Bids were voted on from Western Elevator, Hanson Elevator and Cook Bros. Elevator. After rejecting all bids the first time the Western Elevator was purchased for a sum of $1250.00. This was at the Rock Island site.
The capital stock was set at $3000.00 to start with and not to exceed $10,000.00. Shares of stock were sold for $25.00 per share. No one to hold more than ten shares and each share holder to have one vote.
July 1, 1908 the company was started, known as the Farmers Grain Company. This was made up of 80 members with a total of 123 shares amounting to a sum of $3075.00.
The first manager, E.P. Pierce was hired July 13, 1908 at $65.00 per month, serving until Jesse Thompson was hired January 26, 1910 at $100.00 per month. Thompson was employed as manager until June 1, 1943.
On February 1, 1913 it was decided to become a member of the Farmers Grain Dealers Assoc.
Roy E. Baumgardner was hired as the second man February 6, 1915 working until 1920. He came back in 1926 and was placed in charge of the west elevator. He remained with the company until February 1, 1946. Roy expects to celebrate his 90th birthday August 9, 1969.
Other employees remembered for their service in the early days are Sam Arnold, Martin Egenes and Abel Helvig.
The residence for the manager was built in 1916 at the cost of $3399.61 with K. Knudson as contractor.
At a meeting March 21, 1917 the stockholders voted to purchase the Larson Bros. business with possession May 1, 1917. This was purchased at a cost of $10,000.00 for the elevator plant consisting of elevator cribs, coal bins, cement house, lumber shed and office.
In 1919 a new lumber shed and office was built.
The company was reorganized in 1928 under the co-op law contained in chapter # 389 of the code of Iowa for 1927. This charter was for July 1, 1928 until July 1, 1948, limiting the stock for any stockholder to 40 shares at $25.00 each a total of $1,000.00. Seven directors were elected at this time.
The company received for the Post Office building and Bank Building their deposits when the State Bank closed during the depression. April of 1946. these buildings were sold to George Auestad.
Myron L. Jorstad was hired in January 1931 as second man and became manager in June 1943 to replace manager Thompson. Mrs. Ruby Quam was hired as bookkeeper at this time and stayed until March 1945. Mrs. Irene Bergland came in as bookkeeper on March 10, 1945.
In 1948 the company reorganized under the 1935 co-operative law. All shares of stock were called in and were given book value of $65.00 per share. Each member received one common share of $25.00 and the balance in preferred stock at $5.00 per share, bearing an interest rate of 4%. The company name was changed to McCallsburg Co-operative Company.
Manager Jorstad resigned December 31, 1948 and Howard Swanson came in as manager January 1, 1949. A new feed mill was built in 1951 with Elmer Amundson of Roland, contractor. In 1956 a wood structure annex was built at the Rock Island site by Horne Construction of Fonda, Iowa. Two steel flat storage buildings were also erected. Swanson resigned December 31, 1959.
John McPherson became manager January 1, 1960. The company became a member of the Boone Valley Processing Co-op, May 1960. The Phillips 66 petroleum business and propane business was purchased from Helland and Woster in May, 1962. In August 1964 the business was moved into the new office which was built on the same site the other office stood. This was built by Sam Bergland and Nelson Home Improvement, of McCallsburg.
In May 1965 the Zearing Elevator, Zearing, Iowa was purchased from Virgil Welp. All of the employees remained on as before. In April 1966 the company name was changed to Farmers Co-operative Company. We now have 9 directors. Manager McPherson resigned July 15, 1966 and Robert M. Brown became manager August 8, 1966 and served until November 1, 1967.
Walter J. Benson came as manager November 1,