Agway tells members of record sales year
SYRACUSE, N.Y. -
Agway sales established a
new record during 1973-80,
General Manager R. N
Goddard told some 5,000
persons attending the far
mer cooperative’s 16th
Annual Meeting in Syracuse,
N.Y.
Volume for Agway in
ternal operations amounted
to $l.B million, up nearly 24
percent over the previous
year. Consolidated sales,
including the cooperative’s
two largest subsidiaries,
Texas City Refining, Inc., in
which Agway holds two
thirds interest, and Curtice-
Bums, Inc., a diversified
food processing company,
raised the figures to almost
$2,7 billion.
Aiddard pointed out that
vmbe sales volume was
more than $6OO million ahead
of last year, a significant
part of the increase can be
traced to the double digit
inflation rate of the period.
Earnings for the year,
before taxes, were $31.4
million, about $5 million
ahead of 1978-79, prompting
Agway’s Board of Directors
to declare a one percent
patronage refund to
members amounting to $5 4
million, the largest in
Agway’s history.
BIG FARM POWER AND EQUIPMENT
STEIGER
Payments to holders of
Agway’s securities m 1979-80
also set a record with more
than $8.7 million in
dividends, interest, and
extra payments, nearly $2
million above last year.
Goddard also reported on
Agway’s participation in the
formation of a new milk
marketing system for New
England. During the spring
and summer of 1980, over
3700 dairy farmers m New
England and eastern New
York enrolled as members of
a new producer
organization, Agri-Mark
Inc., pledging both milk
production and financial
support to get it started.
As a result of this com
mitment to the cooperative
by the dairymen, Agway
purchased controlling in
terest m H.P. Hood Inc., a
large New England dairy
and food marketing com
pany headquartered m
Boston.
“H.P. Hood Inc. has its
own management and board
of directors. It will employ
the workers, process the
milk supplied by Agri-Mark,
and market Hood dairy
products,” Goddard stated.
“Agri-Mark is farmer
owned and controlled. H.P.
Hood, through Agway’s
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One percent dividend declared Lancaster Farming, Saturday, November 8,1980—A15
investment, is also assured
of farmer control.”
Goddard expressed
concern over the powerful
role played by the Depart
ment of Energy in regulating
petroleum supply, price and
refining.
“I am encouraged,
however,” said Goddard,
“over the recognition of
inequities in the method of
regulating cooperative
controlled refineries that has
evolved m recent months.
These refimenes supply
almost half of the burning
fuels used on farms in the
U.S.”
Goddard also expressed
concern about the im
plementation of a gross
receipts tax in New York
State.
Even though the courts
have struck down part of the
law as unconstitutional,
retroactive elements of the
law could severely affect
Agway Petroleum Cor
poration. He called for the
N.Y.S. Legislature to ad
dress this problem as soon as
possible.
Agway’s chief executive
officer told members that
efforts to reduce the cost of
moving production needs
from their source to the farm
through Agway’s 12-state
distribution system have
resulted in savings of more
than $3 million and ad
ditional projects are
scheduled.
Goddard was optimistic
about the role that nor
theastern agriculture will
play in the decade of the SO’s,
but he expressed concern
over the affect of political
apathy on the part of many
Meet Agway’s new
BERLIN - Richard
Croner of Berlin, Somerset
County, was elected vice
chairman of the board of
directors of Agway Inc. He
was named last Friday, by
board members in a session
following the 123,000
member farmer
cooperative’s 16th annual
meeting in Syracuse, N.Y.
Croner, in partnership
with his son, Tommy,
operate a 1200-acre dairy
farm milking 120 with 120
young stock. They also grow
potatoes and gram.
Croner was elected a
director of Eastern States
Farmers Exchange in 1957
Americans, and of rampant
inflation.
“I don’t like $2OO per ton
, dairy feed any more than
you do,” he stated. “It’s not
good for you, and it’s not
good for Agway.”
During the two-day
meetmg in the Onondaga
County War Memorial,
Agway stockholders at
tended business sessions,
vice chairman
and became vice president
in 1963. With the merger of
Eastern States and GLF in
1964 to form Agway, he
became a member of the
new cooperative’s first
board, serving continuously
since.
He is chairman of the
board of Curtice-Bums, Inc.
of Rochester, N.Y., a
diversified food processing
and marketing company. He
has also been a director of
Pro-Fac- Inc., a producer
cooperative, since 1972.
Croner is president of the
board of directors of Philson
National Bank. He is a past
director of County Trust
and participated in major
seminars on various aspects
of farm management.
Thousands viewed the
Agway Farm Show, one of
the largest such indoor
shows in the northeast.
Agway Inc. is a farm
supply and marketing
cooperative owned by 123,000
farmer/members in 12
northeastern states.
Company, and has been an
officer of the United Church
of Christ in Berlin. He is
active in other community
and farm organizations.
Croner received his B.S.
from Pennsylvania
University, and was named
a Pennsylvania Master
Farmer in 1967. He is a
member of Gamma Sigma
Delta.
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