INV. '60

D .1000,

On December 1, 1933, eighteen prominent citrus growers assembled
in the Orange County Court House for the purpose of establishing a permanent
nation-wide cooperative agricultural system which would be available to all
deserving growers, and designed to be grower-owned and grower-controlled. At
this organisation meeting, A. E. Pickard, V. L. Bullis, T. G. Moorhead, H. L,
Pringle, and Chase Denko, were elected directors to begin operation of the
Orlando Citrus Production Credit Association.

Short-term credit for agriculture was new in 1933; long-term credit
facilities were already in operation through the federal Land Bank and Land
Bank Commissioner, but no permanent plan had been established for serving
agriculture's current production needs. The PCA System was the solution and
during that financial crisis proved its worth. The remarkable success the
system has enjoyed during this ten year period speaks for the thoroughness
with which it was planned.

The territory of the Orlando Association was limited to certain counties,
and in October, 1935, the Bartow Citrus Production Credit Association was con-
solidated with the Orlando Association, thereby making the Orlando office a
state-wide organisation for citrus growers exclusively. On April 1, 1938, the
name of the association was changed to florida Citrus Production Credit Associa-
tion to indicate more properly the scope of service of the institution, it being
the only association to serve the entire citrus industry of Florida.

The stockholders of the association have consistently elected
conscientious, congenial and outstanding citrus men who have given
unstintingly of their time and talent to the affairs of the association,
serving faithfully in their unsalaried positions in many ways beyond the
requirements of directors. The present board is represented by V. Le
Bullis, president; J. Earl Anderson, vice-president; John D. Clark,
Ralph Boswell, Douglas R. Igou, J. J. Parrish, and B. A. Carpenter. Presi-
dent Bullis is the only remaining director who was on the original board
and he was the association's first secretary-treasurer. Mr. Clark is a
pioneer from the original Bartow Citrus Board and has served as a director
since consolidation,

During this ten year period the volume of loans to grower-members
has been approximately $7,500,000.00, serving more than 1,000 members,
beginning at a period when distressing prices prevailed throughout the
industry for growers. The interest rate in 1933 was 6 per cent and since
that time it has been reduced to its present rate of 4s per cent, per
annum, payable only for the exact number of days the members have use of
money borrowed.

With the solid foundation that has been laid during the past ten
years, and our united efforts, the Florida Citrus Production Credit Associa-
tion will continue to serve the great citrus industry of florida,

A FORWARD LOOK

As we look into the coming year, our greatest

wish is that by a maximum of effort and sacri-

fice, this shall be a victorious year.

To assist in the war effort, may each of us re-

solve to increase our production of food during

1944. To this end, your Association pledges all

assistance and cooperation possible in supplying

production money to achieve this goal.

The challenge of the New Year is before us. With

confidence we shall meet it I

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