Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1869-07-16

a paper which they wished to submit,
as articles of agreement"
Mr.. Martin said that he heartily
cOncurred in Gen. Pillows plan, and
that his plan was in accordance with
and supplementary to that plan.
Gen. Pillow moved that the report.
be received, and that action be post
poned for the present. Adopted.
Gen. Pillow, of the committee re-
ferred to by Mr.. Apperson, rose to
present the paper prepared by the
committee. Before doing so he made
a few Introductory remarks, in which
he insisted that the plan suggest
teal, would fail in this commu-
nifty. Col. Martin, if he took his sub
scrIption around, would after a trial
find that he could not raise the funds
necessary. A man or men who were
fitted or competent to go IS the agents
suggested by Col. Martin, were fitted
for other pursuits that would yield
them an income, and they would not
go to the end of the world, losing their
time and risking their lives in so do
ing, without an adequate compensa-
ton. AS to the plan that he Gen.
Pillow proposed, it had been matured
after consultation with merchants and
capitalists, many of whom would en-
bark their money in it. He believed
that it was the only mean Of solving
the question. He was not a candidate
for any office provided for in it, and
would not accept one if he were prom
ised twice the salary that ought to be
-nsI puN hn Il hfvNEnlf 70 OrO fn
New York and raise the money, If
New Orleans does not give the support
that it ought and turns the cold Shout
der to us. New Orleans ought not to
do this, for she has to look to the Mis-
sissippi Valley for her wealth. She
cannot look southwark. The Gulf of
Mexico cannot furnish her with it. 1t
is the great Valley of the Mississippi
that she must look to for her pros
perity. For thirty years he (the
speaker) had been a planter, and had
sent his produce to New Orleans.
Memphis is, as James c. Jones once
expressed it, only a faubourg of New
Orleans. and New Orleans might be
content to see her in this humble ca
pacity, the agent that collects
and distributes the labor throughout
the country.
Gen. Pillow then read the follow
ing;
MEMPHIS, July 10. 1869.
The undersigned agree to organize
themselves, with such others as may unite
with them, into a company, To be called
the Mississippi Valley immigration La
Dor Company for the purpose of intro
ducing Chinese laboFers, to supply the
great want of labor experienced every
wherein the Mississippi Valley aud adiOin-
ing States. We propose to raise u million
Of dollars OF capital for this purpose,
with the right to increase it TO two
millions; and we invite all capitalists and
planters, Who feel an interest In the OBJ
iectS Of this to take stock and
nit with us in this organization. We
open books in this city for subscriptions
OF this stock, and propose to organize the
company on the 18th day Of August, by
the election 0ftWelve Directors. who shall
hold their offices f0s twelve months, and
until their successors a-e elected. This
election VIII take place IL the city
Of Memphis. When these Directors are
elected, they shall elect u of their num-
Der President of the company; and they
shall elect a Secretary and Treasurer, each
Of whom shall be a stakeholder Of not less
than ten shares.
Lit SndItH VI LhlN t0hkBdhN N4AAAl W ~
hundred dollars. and every stakeholder
shall be entitled to as many votes, in all
elections as he may have shares Of stock.
Said company shall have the right to or
ganize at tHa time and place above named,
provided one hundred thousand dollars Of
has been subscF.ked.
When said company Shalt be orgHgiled,
shall be the duty Of the President and
Of the company to demand and
TN aa- aawnw aE oil fka. EfAAf- gHHE
which shall be paved when called
for. or at the option Of the company the
stock may be declared forfeited 8the com
Dany. Said company shall not, at any
)ne call, require more than ten per cent.
3n the stock: nor shall they call for pay
neGts of stock oftencr than once in every
thirty DAYS; nor shall any subscriber be
liable for mCs2 than the amount of stock
su bscribed by him.
When so organized, tbs company shall
.ake the most active measures tcr carry
NJ into effect the objects of this orgaIiZa- |
ion, by bringing into the country the 1
number Of Chinese agricultural
abOrers in the shortest possible time.
It shall provide proper accommodations
It Memphis for these Chinese labOrers |
Ipon their arrival in this city, until they
engaged in fair contracts with en-
and il shall be the duty Of the /
company to see that, in the contracts with
the rights of these laborers are
properly protected.
In placing laborers, a preference shall
4 al cases, be given to stockholders of
his eeIsEapy I'VE those who are
lot-and AZ between different stock
holders, the first applications in writing,
He'd with the Secretary, shall be first
illed-but this company reserve the !
for the FIRST twelve months to exer-
a just discretion by partially I'LL
different stockholders applications, |
when all cannot be supplied.
All contracts between these labOrerS |
md planters shall contain stipulations
or just aQd kind treatment and prompt
payment Of the lalyQTers, and Of forfeiture
# the contracts oy q Tiifql violation of
UGH stipHlations.
1t shall be the dnty of said c0H4Laey 5n
things to obey the laws Of the State
nd Federal Governments, and as early as
practicable to procure the passage ola Law
f the State legslizing the company as a
corporation.
said company shall have the right and
he power TO do all things needful and
G1F the f1ltherance Of the objects
f its o~rgaMzats9l, not prohibited by
10 may appoint one u IrOFe agents.,
nth power on the part OF these &gects toi .
ppOint s~ub-agents aud to fix their cQm-
.ensation and prescribe their duties, and
fix the salary and prescribe the duties
f all its officers, and remove its officers
: agents for neglect or abuse of their du- (
&r6 to appoint others in their stead.
he death II any stakeholder shall not
'ork a dissolution q this companv-but
De interest Of a deceased stakeholder
lall be held, and the stock r-epresenSeaI /
v the personal representative of the de- !
sased partner or stakeholder. All va
incies in any Office shall he filed by the {
GARD Of Directors, except at annual elec- ,
ops; Whes yacancies in the Board of /
i~rectors shall be filed by vote Of the :
Ockholders. :
This company shall keep . berfect and {
ne account of all its receipts ana < :
,nditures, and shall make reports to the !
by Publishing a condensed {
atemeHt Of its condition and operations I
iarterly.
. majority of an the Directors shall be +
quired TO constitute q quorum fer all .
But said company may ape :
int sR executive committee, or commit y
as, with tall power to execute the du- I
Is imposed upon such committees by
Oh quorum. Two-thirds Ct the stock n
ldeFs may amend these articles Of esso- =
,tion. t .Ei| $
Every officer Of this company shall be :
,ckholder. Its executive officers shall =
such bond az may be required by the {
ard Of Directors. y
All persons who may become subscribers l
these articles shall be the owners of 50 0
nv shares of the stock OF this Company Fl
NAV afix opposite their names.
Books for the subscription of stock shall n
opened at sncb places land shall be :.
oDen until the Company is organized II
4 as much longer as said Board of Di- II
tors NAV think proper as nay be de-