FG&S Railroad: mystery north dakota shortline info

looking a the page of North Dakota in my Rand Mc Nally 1928 Railroad Atlas, i noticed in upper northeast corner, a shortline labled FG&S Railroad running from Hansboro, North Dakota to Devils Lake, North Dakota. I know this was later GN, BN and BNSF. But the Initials FG&S i have no idea what they stand for.

I solved half of the mystery. The initials of the mystery North Dakota shortline FG&S stands for the Farmer;s Grain & Shipping Company, which ran from 1902 to 1943, when bought by Great Northern. What i would like to know is who originally owned the FG&S. Was it a co-op owned shortline?