Hassil E. Schenck rises up the ranks of local Farm Bureau leadership and is elected vice president in 1934. Upon Taylor’s death in 1936, Schenck assumes the presidency.

When Schenck learns that Indiana Farm Bureau is borrowing from the state co-op to meet payroll, he reaches an agreement with employees who are making more than $3,000 to take a temporary pay cut. The pay cuts and increasing membership dues to $10 result in a treasury solvent enough to never again require borrowing.