1958 05 28 Or Nut GrowesCo big increse productn, 50 new members. but tough yr. KW Dunn a directr.
kaU-twaliow- excel-leat be-idea, plentl-fal S. into to U. for-gottea, He had up, involved and paychecks the NE Tonnage Rise Reported to Nut Growers Members of the Oregon Nut Growers Cooperative, holding their annual meeting in Salem Tuesday night were told that while the operating operating capital had increased $31.-000 $31.-000 $31.-000 the past year it still is not adequate lor as rapid a growth as desired. Glenn Hansberry. manager, gave this information in his report, which showed a tonnage increase from 286 tons in 1965 to 1,594 tons in 1957. &a NEW MEMBERS It was pointed out that the entire entire increase was not because of an increased tonnage per acre, but partially by the addition of 50 new members. Hansberry suggested refinancing the present mortgage loan over a 10-year 10-year 10-year period for further improvements. improvements. He referred to inshell nuts as "outdated merchandising," and noted the popularity of packaged shelled nuts. The manager urged the coopera- coopera- j tive to do its own "holding" until the trade can use the nuts, rather than let "scalpers buy up surpluses surpluses and hold for higher prices." The auditor for the Nut Grow ers, William G. Stacy, commend ed the management and directors for their handling of the cooperative cooperative in a "difficult year" and said that while the balance sheet was not as strong as they would like to see it, it was stronger than a year ago. He urged the growers to continue continue working toward a higher vol ume of nuts. AUDITOR'S REPORT According to the auditor's re port the business volume for the past year was $568,355. The profit margin was listed at $7,556, com pared to the $27,000 loss the previous previous year. Total assets were listed listed at $520,167, with liabilities at $297,514. Guest speaker for the evening was Don Peterson, manager of the Commercial Bank of Salem. He suggested that a definite percentage percentage be advanced to the growers with the rest paid when the crop is sold as a "good cooperative method of handling, finances." Peterson Peterson also told the group that the Nut Growers' mortgage and indebtedness indebtedness was not "out of proportion." proportion." The president of the Nut Growers, Growers, H. R. Hildebrandt, told the growers 'that because of the previous previous year's losses the past year had been the !'toughest year in the cooperative's history." Erick Nelte, Salem, was elected to the board to replace E. C. Hart, whose term expired and returned to the board were Frank Way, Salem, Salem, and Kenneth W. Dunn, Junction Junction City. .