The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1888-01-07
Farmers' Union Cooperative
Store.

=
Store,
/. That each union appoint . commit
tee Of three of its most judicious mem-
bers to ascertain how much cotton per
acre and how many acres each member
desiring to go into this plan has planted
and raised for the last five years, and
strike an average per acre for tie i've
years, and make this average the basis of
this years crop; and also ascertain what
other unincumbered resources each one
has TO meet his supply bill
2 Thateach member signing This agree
ment thereby pledge his undivided trade
to the store herein after provided tor
s. It shall be the duty Of the above
committee to take supply note for the
full amount that each one signing this
contract expects to consumes during the
year, with lien on his crop and bill of
sale of what over else he and the commit
tee may agree upon, or what other ar
engagements he and the committee may
agree is necessary to make the amount Of
his supply bill safe to the store.
4. 1t shall be the duty of said commit
tee to make quarterly Investigations Of
crop prospects of the members and re-
port the result TO the store Immediately
afterward. and his supply may be increas-
ed or shall be diminished in accordance
with their report.
s. II shall be the duty of the commit
tee OF each union whose nearest place of
business is Montgomery to meet at Mont
gomery, and those nearest Colfax to meet
at Colfax, and those nearest Pineville to
meet at Pineville, and from their number
at each place select q committee Of three
in whose hands shall be placed all the pa
pers and other securieties upon which
they may secure capital for general mer-
camille business.
6. It shall be the duty of this last COM
mittee to take general oversight of the
mercantile business each ut its own place,
and rent buy or build such store, warehouse
and other facilities as are necessary to
do Q general mercantile business to
store cotton, ETC., to employ clerk or
clerks to attend to said business, and to
raise the money for said business on the
securieties in Their hands; but they shall
not borrow money or make other arrange
ments for more than one-half the securi-
ties in their hands for the first half Of the
year, nor at any time for more than these
securities; and this basis shall be in har-
mony with article 4.
7. It shall be the duty OF clerks to re-
ceive and mark cotton and store in ware
house and attend to the mercantile bust
ness.
8. The chairman of the three central
committees shall constitute parish CON-
mittee, whose duty shall be to act jointly
and harmoniously in making arrange
nnents for money, buying, selling. ETC.,
and they shall employ an export to SAM
pie and classify cotton; and the commit
tee shall advertise and sell cotton at pub
lie auction. with the privilege Of reject
ing and all bids.
8. The charges shall be fifty cents per
bale for storage and selling cotton, and
for goods sold ON time 20 per cent. and
for cash 10 per cent above cost and car
riage.
10. After al expenses are paid out Of
the net income the remainder shall con-
stitute capital, increasing from year to
year until it is sufficient to buy for cash
and sell on time to the members, then the
per cent over cost and carriage shall be
reduced to the lowest possible minimum
to leave the capital unimpaired.
RESOLVED by the Montgomery union
in session this Dec, %, 1887,
lst-That this plan be laid before our
parish union by our delegates ct il next
meeting and that they urge its adoption.
2nd-That the committees Of the nm
ions near each trading place meet ct aid
place ct 10 o'clock .. M january q,
1888.
3rd-That the ColfAx CHRoN1cna be
requested TO publish this next week 30 it
can be studied by the members before
our parish meeting.
Enthusiastically adopted.
w. B. WooD. President
r. WooD. Secretary.
Montgomery, La, Dec, %, 1887.