Co-Op celebrates great year
The Friona Farmers Co-Op Gin held its 56th Annual Stockholders meeting Tuesday night at the Friona Jr. High Cafeteria. Board President Mitchell Wiseman welcomed the crowd of approximately 130 and everyone enjoyed a meal catered by Danny’s Fins & Hens and specialty cakes with the co-op logo on them.
The mood was upbeat and for good reason since last year’s record breaking crop of 36,353 bales set the stage for a good financial year also. The auditors reported that the gin had earnings of $984,652 for the year. Also, since the gin has very little outstanding debt, the auditors stated the co-op was in great financial shape. Even better news for the cotton growers was that the gin paid $765,000 in cash dividends and retired $135,000 worth of stock. The gin was also able to upgrade the plant in order to speed up the ginning process. Co-Op Manger Duncan Welch said that he was looking forward to another great year.
Two board members were elected. Incumbent Russell Harkins will return to board and will be joined by Garrett Clark. A special gift was given to the Raymond Hamilton family in his memory. Raymond served on the board for 17 years and was a energetic supporter of the gin. Next, door prizes were given out and the meeting was adjourned.
Friona Co-Op Board of Directors:
Back row (l-r) Garrett Clark, John Jarecki, Ricky Barnett, Mitchell Wiseman
Front row (l-r) Co-Op Manager Duncan Welch, Davy Carthel, Cris Ingram, and Russell Harkins (not present)
