Standard Dairy Company Records, 1886-1938

The Standard Dairy Company of Wallace, Idaho, was incorporated under the laws of the State of Idaho on December 27, 1920. In addition to the obvious purpose of producing and selling dairy products, the first purpose stated in the by-laws is the acquisition and disposition of land.

The company began with $100,000 in capital stock of which only 75 shares were subscribed, 25 shares each to Charles R. Mowery, Robert M. Jones, and Edward F. Gentry. Most of the remaining shares were traded to Edward Gentry, Eleanor Day Boyce, and Eugene Day for land and dairy stock, particularly Eugene Day's Osborn ranch which formed the nucleus of the dairy.

At the first stockholder's meeting in January 1921, Eugene Day was elected president, Edward Gentry vice president and manager, and P.J. Maggy, secretary-treasurer. After Eugene's death in 1923 Gentry became president and Henry Day the vice president.

By December 1938 the Day family, which owned 58% of the stock, decided they wanted to quit the dairy business while Gentry, the remaining shareholder wanted to continue. It was decided to liquidate the company and divide the property among the shareholders in proportion to their interest in the corporation. Gentry was given the diary farm, equipment, and livestock, while the Days received the land not connected with the dairy business.