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More than 800 members and patrons of Culpeper Farmers’ Cooperative Inc. heard reports on the Cooperative’s 1989 operations at a series of annual meetings held during the week of March 12.
The Co-op’s annual meetings were concluded with the official Annual Membership Meeting held in Culpeper on March 15 at Culpeper County High School. Other meetings were held for the Co-op’s branch stores located in Warrenton, Marshall, Remington, Rappahannock and Maurertown.
Executive Vice-President and General Manager T.E. Gore reported the Co-op’s gross sales for 1989 of $20.5 million were $708,000 above 1988. Sales increases were recorded in feed, seed, crop production chemicals, farm supplies and general merchandise.
Net savings of $915,000 allowed the Cooperative to declare a patronage refund of 5.04 percent. This was the twenty-seventh consecutive year that Culpeper Farmers’ Cooperative Inc. declared a patronage refund and also revolved patronage equities back to members and patrons.
The Co-op, organized in 1932 with a beginning capital base of $1,200 in membership fees collected from the original members, has returned a total of $7.5 million back to its members. In addition, the Cooperative has a long history of providing excellent quality production products and technical service to its members and patrons, Mr. Gore told the members.
Earl S. Hawkins, president of the cooperative, reported that the Board of Directors had authorized various expenditures for the purpose of upgrading the Cooperative’s 65 unit truck fleet and also to further improve the Co-op’s data processing, computer, and inventory system.
97.4%