FARMER'S EQUITY ELEVATOR
In 1919 the elevator in the accompanying picture was constructed. This was of course at the very peak of high prices. The elevator was fully equipped with cleaning machinery which is run by electricity. At the end of two years the company was $20,000 in the red and it seemed a lost proposition. At this critical moment Mr. I. W. Overton assumed the managership. He went into the job to win and through constant plugging with a practice of most careful economy and the use of good business judgment soon changed the situation.
In 1921, the first year of Mr. Overton's managership, he company shipped 87,000 bushels of grain; in 1925, a total of 365,000 bushels. This last figure makes an average of a thousand bushels per day. They handle all kinds of coal and flour, selling to a large number of customers.
The annual statement for this year, 1925, shows the company to be entirely out of the red with enough beyond that to pay a dividend of 10 per cent on the capital of $28,000 and a surplus of $12,500. There are 284 stockholders.
Board of Directors: D. I. Williams, W. N. Naessig, Art Waddle, Arthur Hanson and Oscar Johnson.
In 1923 Mr. Walter Magnus purchased his first pair of silver foxes from the Rest Island Farm at Lake City, Minnesota. This pair brought a litter of five with which he commenced the farm. He has at present eight dens. Each year he sells several pairs as foundations for other farms and the poorer ones he pelts.
Mrs. Magnus has full care of this farm and says that it takes very little time and labor for their care, but one must understand them. This comes through study and experience. She feeds them once every day, giving them the same feed as one would give a dog.
The picture shows Mrs. Magnus with a three month cub in her arms, which goes to show that they are not vicious to those with whom they have become acquainted.
Along with the breeding of silver foxes Mr. Magnus a also interested in the breeding of pedigreed German Shepherd (police dog) and Irish Water Spaniel dogs. One an derive excellent profit and much pleasure from this work if it is thoroughly understood.
Post Office, Webster, S. D.