The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1875-09-03

8, 1875. >.~. =.
= = = Y = = : g :: -
The Mlsslsssppi valley Tra1,nx CO.. c.
pany, OTgaajxcA by the Co.opera,
tive societios Of EnSland.z n,.<.
[St. Louis Globe Democrat, lsth.] ...,,/
A deputation Of English gentlemen Will
arrive in the city to-day for the purpose
of laying before our citizens the plans
and prospects Of the ....Mississippi Valley
Trading Company. limited which; has
been organized for the purpose of effect
ing interchange Of products between the
Mississippi Valley aud England.
The deputation comprises representa-.
tives of the cooperative societies Of Great
Britain. who have membership Of $780,
1000, and who have organized themselves
into society under the aboue name with
a capital of $25, ,000, 900, for the purpose,
as stated, Of developing and directing
trade between England and the Mississip-
Ipi Valley. - ~F7|
| These societies have over thousand
stores, every one Of which deals largely
in American products. They have twcn-
ty or thirty Touring mills, who wish--
according to Mr.. Worrall, on whose au.
thority most Of the preceding and most
of the following statements are made-to
get their grain from the Mississippi Val.
ley. They have fifty or sixty cotton
spinning factories, which require large
quantity of raw material for their looms.
These cooperative societies have cstab.
lished collective agricultural and horti-
cultural societies, among the members Of
which are many Of the greatest noblemen
OF England. Large quantities of
corn and oil cake are re-.
quired by the members of
these societies, for the purpose of feeding
their stock. Among the industries also
carried on by these cooperative societies
blankets, cloth, cotton goods. linen, guns,
cutlery, tin plate, boots and shoes, chains
and other hardware, silks and Paisley
goods, which include shawls, scarfs, etc.
They wish to bring these goods direct
ly into the hands of the merchants and
consumers Of the Mississippi Valley, with.
out paying the toll heretofore exactcd at
New York, Boston and Philadelphia.
They have been organized by Mr.. Wor.
rail-, and are now all ready to proceed
with it's operations, and to bring their
ships to New Orleans and other Southern
ports. The organization of the company
look place in April of this year, with a
capital stock, as already stated, Of $685.
100000.
TIE object Of the visit of the delega-
ton is to determine to what extent and
to what points the business may be safe.
ly carried on. The societies have large
surplus capital, much Of which is in Eng.
lish banks. drawing only two and half
per cent. interest. 1t is proposed to in
vest this surplus capital not only in trade,
but also to loan it on safe securities for
the purpose Of developing the resources
of the Mississippi Valley. In their act OF
incorporation, the Mississippi Valley
Trading Company have taken powers to
build railroads, improve water courses,
construct ships and to develop the min
eral and agricultural resources of the
valley.
The delegation consists of DR.. J. H.
Rutherford, President Of the Industrial
Bank Of Newcastle.on-ryne: J. Vansit.
tart Neale, Esq, the legal adviser Of the
Co.operative Congress Board; j. Thorn
as, ESQ, President of the
Leeds Cooperative Society; j.
Kay. of the Manchester Whole
sale Society, and Mr.. Worrall, Managing
Director of the Mississippi Valley Trad
ing Company. They arrived from Liver.
pool, about the middle Of July, at New
Orleans, where an inspection Of the jet.
ties convinced them OF their ultimate sue
cess. They also visited Galveston, Hous-
ton, Dallas, Little Rock, Mobile, Atlanta,
Memphis, and met with the conven-
ton Of the State Agricultural So
ciety Of Georgia at Dalton. Everywhere
their propositions were received with
great favor by the people of the South,
who not only offered to cooperate, but,
if necessary, to subscribe literally to the
stock Of the company. Both merchants
and Changers were anxious to unite
with the company and aid in pushing it
to successful issue. ..*