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GALLATIN, MO. (2010-08-06) Missouri's state auditor says the State's financial picture might be better if it hadn't been for the Gallatin grain company going under.
In her audit of the grain regulatory services program, Susan Montee says the insolvency of the Gallatin grain dealer and one in Martinsburg totaled 32 million dollars in losses. State auditors say better review procedures by the Department of Agriculture might have spotted losses sooner. They point to regulators counting assets of the Gallatin operation that were not part of the company. The two were the two largest grain dealer failures in Missouri history. The agriculture director says the agency is implementing more safeguards.
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