The Philanthropic Stock That Actually Paid

The Whatcom creamery, now known as Smith Company's creamery, has thrived so well that it has paid two annual dividends. The second dividend of five per cent has just been declared, and A. Pancoast, treasurer of the company, is passing substantial checks around among the shareholders.

It is interesting to recall that the majority of those who subscribed for stock in the original concern did so from philanthropic motives and never expected returns in the shape of dividends. One local firm which has kept account of its subscriptions to industrial enterprises arranged the money thus expended in two columns. One was designated as stock from which dividends were expected, and the other was called donations. Strange to say, out of about twenty subscriptions to stock companies, the money put into the Whatcom creamery—and assigned to the donation column—is the only one of them all that has returned dividends.

The creamery business in this county is growing constantly, and facts and figures go to prove that it is naturally adapted to this section of the state and in time will become a stable industry of considerable magnitude, employing hundreds of people, besides the business which it will provide for the farmers and dairymen.

Secretary Teck of the chamber of commerce is preparing a tabulated statement relative to the creameries of Whatcom County. The figures for 1903 show that the total number of pounds of butter manufactured was 525,871, the wholesale market value of which was $130,160.17. The number of cows contributing was 2,995. Smith Company's product of butter amounted to 139,428 pounds, contributed by 675 cows. The creameries of Whatcom County are: J. B. Agen, Smith Company, L. J. Ford, Lynden Farmers and Nooksack Valley.