Advertise in Print | Subscriptions
Published March 29, 2013, 10:46 AM

SD commission considers Gregory elevator licenses

The South Dakota Public Utilities Commission has scheduled a special meeting to consider whether to suspend the licenses of a grain elevator in Gregory.

PIERRE, S.D. — The South Dakota Public Utilities Commission has scheduled a special meeting to consider whether to suspend the licenses of a grain elevator in Gregory.

The commission's staff has recommended that the three commissioners immediately suspend the Gregory Farmers Elevator's grain buyer and grain warehouse licenses. The commission has scheduled a meeting Friday to discuss the issue.

In a written filing, the staff says it has been working with the Gregory elevator since August as the company sought to correct financial problems. The staff now says it has determined that the elevator will be unable to obtain sufficient working capital to continue as a going concern.

The staff filing says an immediate suspension of the elevator's licenses is the only way to prevent further potential damages to farmers.

Tags: