FARMINGTON — The Farmington Farmers Union had a good year, directors and stockholders were told at Tuesday’s annual meeting.
It wasn’t quite as profitable as last year but it was still a good one, Richard Walker told the nearly 25 people gathered at Henderson Memorial Baptist Church.
Sales were up more than $85,000, although the Farmers’ Union took on a short-term loan of $20,000, he said. There’s been no debt in quite a few years, he added.
Store sales for 2013 were $2,624,463 and for rental operations $182,532 for a total of $2,806,995, he said.
The change from True Value to the Tennessee-based Orgill products has worked out well, Larry Donald, store manager said.
Directors recommended a 9.5 percent trade allowance to shareholders based on purchases. It was confirmed by those attending.
A moment of silence was held for Lawrence Yeaton, who served as board president for 35 years. Yeaton died in May 2013.
Director David Archer was appointed to complete the year as president of the board. He was re-elected president Tuesday. Russell Black was elected vice president and Thomas Nelson as treasurer and clerk.
Incumbent directors Archer and Timothy Lambert were re-elected for another three years. Craig Jordan was elected for one year to finish Yeaton’s term. Rupert Pratt and John Wilbur were also nominated. Jordan received nine votes; Pratt, six; and Wilbur, four.
The name of the Board Vice President was corrected to Russell Black.