Identity area
Type of entity
Corporate body
Authorized form of name
Manitoba Pool Elevators
Parallel form(s) of name
Standardized form(s) of name according to other rules
Other form(s) of name
Identifiers for corporate bodies
Description area
Dates of existence
1925-1998
History
The forerunner of Manitoba Pool Elevators, Manitoba Wheat Pool, was created in 1924 as a mechanism to allow for the co-operative marketing of wheat by Manitoba producers.Such an approach promised to stabilize the market price of grain and ensure a fair market price to producers.Initially the Pool was very successful. However, in 1930, the Manitoba Wheat Pool found itself burdened with an unsold surplus from the preceding year that had been bought from the farmers at a price that was significantly higher than any possible return during the depression. As a result, in 1931 the Pool's Central Selling Agency defaulted on its bank loans. Despite attempts to save the organization, it was forced to declare bankruptcy in November 1932. A subsidiary, Manitoba Pool Elevators Limited, remained active. In this way, the Manitoba Pool was transformed into an co-operatively owned elevator company. Following the Great Depression, Manitoba Pool Elevators expanded operations and initiated new co-operative business ventures. On November 1, 1998 Manitoba Pool Elevators merged with Alberta Wheat Pool Ltd. to create Agricore Cooperative Ltd.