directors addressed an open letter to the shareholders, urging full
representation at the forthcoming annual meeting in order that their
criticisms might be threshed out. President Crerar joined in the
request for a full meeting of shareholders. If the loyalty or ability
of any director was to be questioned because he refused to surrender
his judgment to other directors who might disagree with him on certain
matters, it was time to have an understanding. So far as he was
concerned, he could not agree to become a mere speaking-tube for others
who might want their own way against his own convictions of what was in
the best interests of the farmers.

When the annual meeting opened, on July 16th, there was a record
attendance of shareholders and during the routine preliminaries it was
evident that expectancy was on tip-toe among the farmers. The split in
the directorate was a vital matter.

In delivering his annual address the President detailed the business of
the organization for the past year, referring but briefly to the facts
which had led up to the resignation of the four directors. The
Shareholders' Auditor followed with the balance sheet, giving detailed
accounts of receipts, expenditures, assets and liabilities; he answered
all questions asked. Then came a resolution, expressing the thanks of
the shareholders to the President--and this moment was chosen by the
leader of the revolt to spin his pin-wheels.

The debate began at three o'clock in the afternoon. It did not end
until ten at night. The President retired from the chair and the
Auditor was called on for detailed information, covering a period of
several years past. In the long speech which was then made by the
leader of the critics the President was declared responsible for all
the alleged mismanagement and his retention in office undesirable.

To the surprise of everyone a fifth director now took the floor and
joined the attack. Not having been one of the four directors who
resigned, this new criticism was unexpected and the tension of the
meeting grew. After amusing himself and the audience for awhile with a
humorous speech, No. 5 ended by suggesting that the President was not
sufficiently wicked to be driven from office.

Arose the remaining three members of the resigning quartette and, one
after another, had their say. Finally, when words failed them and they
rested their case, the President spoke briefly.

In the annual address, which