Effingham Equity

Website Links

Description

In 1919, a group of far-sighted farmers saw that by joining together in a group, the group would have greater buying power than each farmer had individually. The original charter of Effingham Equity Cooperative Union Exchange listed 53 members. The group incorporated in 1921 with 56 stockholders. The first Board of Directors consisted of John Diehl, William. Wagner, Henry Fuesting, Joseph Vahling and William Soltwedel. The manager was John Mueller, who was paid a salary of $100 per month. The first stock, issued at $100 per share par value, entitled the holder to be a full member eligible for refunds. Refunds earned were applied toward the purchase of stock for new members. Today Effingham Equity stock costs $25. Effingham Equity began by using the Pennsylvania (now CSX) rail siding across from the old Pevely Dairy (now Dairy Farmers of America) as a base of operations. A warehouse was built to store the products brought in by rail, such as corn, coal, hay, and feed ingredients. This building still stands in Effingham, now owned and used by Boos Block Factory. The cooperative grew slowly through the 1920s, 1930s, and 1940s at this location. During the 1940s, the serious need for a grain elevator in the Effingham area became apparent, to expand the local market for wheat and corn. Siemer Milling in Teutopolis and Melzer

Fact sheet

Company contacts

Products & services

Similar companies nearby