The Wichita city eagle. [volume] (Wichita, Kan.) 1872-1883, 1876-09-07
.,any are to be equally shared by each

the shares. The company is willing,
however, to begin business as soon as
f25, 900 are known to have been sub
scribed in England, and its equiva-
lent, 1925, 00O'gold,in the United States.
The latter sum is an average of about
ten cents member for our Order.
"All the safeguards known to Brit
ish cooperative societies are thrown
around the whole project. Should
any shareholders prefer to pay up the
full value of their stock, they will be
entitled to interest mot exceeding
eight per cent. per annum.'
English stockholders are cooper
alive societies and their members.
Part of their stock is already sub
scribed for the European section, but
no more will be issued until we show
our readiness in the United States to
cooperate with them by subscribing
S125,oO0 to establish the American
section. They ask this rather as an
earnest of our sympathy and willing
ness to cooperate with them, not that
this sum will be any appreciate por-
ton of the capital to be ultimately
used in our business transactions.
They are awaiting our action, and
propose to complete the enterprise if
we do our preparatory work.
"Their own statement of tho gener-
al objects of this company, as origin
ally conceived, is in these words:
"'The objects of the company are to
bring the manufacturing population OF
Europe and the agricultural pepula-
ton of the United States
into direct communication, by an ex-
change of produce, mutually conducted
on the basis of freedom from every
kind of fraud, adulteration,i imposition,
or tricks of trade;' that this is to be
done by producers on each side OF
the Atlantic, who shall mutually act
as agents and consignees or consignors
for each other, or otherwise trade with
each other. and share between them
the profits arising from the exchange
of their produce ="
Among the many important objects
specified, including the business OF
"baukers or agents." rent, purchase. or
construction of wharves, warehouses
aud other buildings, charter, purchase
or building of ships, the following are
named:
"'To make advances of money to
any members of the company in the
United States, either Individually or
in any collective groups, on the secur-
ity of real property, for the purpose
of enabling them to raise or prepare
for the market staples, produce, or any
articles dealt in by the company, or to
develop the agricultural or minera
resources of the country"
To make advances of money to any
I society, companies, or manufacturing
firms being members of the company
) on the security Of real or persona
: property, for the purpose of enabling
| them to manufacture such articles a.
f the members may require.
/ Not depending entirely on their owl
l surplus capital, our cooperative
3 friends in England assure us that, whel
: the business proposed shall be well es
tablished, they can secure for US othe
capital for the various purposes indi
: Gated at a slight advance on the Banl
i of England rates. On this point, tn
5 president of their chief co-operativ
4 banking house, DIR. Rutherford, write
+ as follows:
: "'When we thoroughly understand
C each other, there will be no difficult
S in meeting the financial wants of GU
4 people. 1t is the want of knowledge
: of intercourse and of organization tina
+ keeps the co-operators of the two coun
f tries apart. Whatever others can safe
= ly do in the way of making advance
$ to your people on their produce, tn
= Anglo American Company will doubt
:, less be able to do, and perhaps Oh bet
: ter terms. At least, whatever tn
e terms may be, any profits made wi
) eventually come back to those VIII
# make it.'n "'By and by tn
s. time will come tor international bank
IS ing. Just as the surplus of money i
d one town in Scotland or England rs
Y turallv flows to another town tha
" needs it, so in time the surplus {
e money in England. especially in its &C
, operative societies and banks, wopl
o flow to your agricultural people, VIII
y can turn it to such profitable use.'"
&c How, then, is it expected that til
t American shares will be subscribed
Is and the American section formed?
y Our six larger companies, as pre-
posed above, or any part of them, whe
10 organized, are expected to subscribe
l. proportional number of the America
d shares each, at the rate of not less tina
J. one share for every five of its men
r bers, and to elect from their own stool
g. holders, one or more directors as men
d bers of the board which is to supe
:. wise the business of the American Sc
lie ton. A basis of representation a
y cording to the number of members
o each association taking stock, is il
" definitely provided for, as are all oth'
5, necessary details.
" ANY association formed for the san
rs purpose, by those who are not p
n irons, would be expected to do Il
c. same.
Ia Suppose, for illustration, five SUI
T. and other associations should
N formed during the next twelve mont
,r with this object in view, each havit
ct about an equal number of member
re Then each, by subscribing 5000 shar
u of stock and electing two director
n would fulfill the conditions require
os to form the American section OF Il
10 Anglo-American Company. The e
10 ira director needed to make the ele
v en- would be assigned by lot to one
g. the companies, unless there was a ST.
O. ficient excess of members in one to e
er title it to an additional director. II
S. articles of associations are now car
e. fully framed. through our late negO