Complex sentence: A bond sale of $10,000 was approved and stock in the new enterprise began to be sold; by the end of May 1844, membership in the forthcoming phalanx stood at 71.
Split into simpler sentences: A bond sale of $10,000 was approved and stock in the new enterprise began to be sold. By the end of May 1844, membership in the forthcoming phalanx stood at 71.