Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1888-06-05

called, and ipstesd Of drawing Z
note for $4,000 they drew one fol
$40, 600 Twenty-eight farmers signed
this naie-eech signer owning resl estate
in his own right, over and above exemp.
tons, sggregsting over 10000. WheI
this note WAS presented, signed by &C
msny solvent signers, 1t lead to inquiry
which developed the fact that the money
was wanted to assist the Alliance Elk
hange; this being ascertsined the sign
ers were promptly notified that no m oney
would be advanced on it.
A prominent grocery house In Waco
who had been friendly to Us snd who had
solicited and 4 led several orders from
the Exchange about same date, showed
10 part OF the execu i've committee G;
McLennsn County Alliance file OF let
tiers recently received from different
sections, from business men, stebbing the
Alliance Exchange-:aying substantially,
among Other things, that If the farmers
controlled their cotton, that they the bust
ness men would be ruined, ana nat their
efforts must be crushed by a uni ed effort
a retail grocer in Dallas was visited by
one banker and two grocery jobbers and
requested to quit having anything what
ever to do win the Alliance Exchange
saying he was running his credit and
Standing by so doing.
J Banks will discount our collateral when
merchants present them, and st the same
time fstly refuse to discount them when
presented by the Alliance Exchange.
| The business manager, in making ef
forts to secure loans in every city visited,
made the banks an open proposition that
| q
not ask them to rely solely on the joint
notes as collateral, and asked them 20
name what security would induce the loan
That he would give it-s offered as
high IS two for one Of the joint notes; in
addition to that, two for one Of vendors
lien notes-and securities, ten for one Of
personsl security, and made them In
every instance admit the security wss
ample, and in excess Of those they were
accustomed to taking. We presented for
discount to one of the national banks IN
Dsllss q )ipt more which the cashier,
knowing the parties, acknowledged to be
first Glass security, but declined to dis
count same.
STATEMENT NO. 4.
1t is the policy of the Exchange to Sc
cure such endorsement from this meeting
as justice and truth may dictate. and
then let the statement go before the CT
der of the state: place the whole thing In
the hands Of the people and ask them
whether it will be given up, and IL they
will surrender themselves to the oil con-
ditions, now made much worse, Or wheth
er they will ensole the Exchange to con-
tinue and win the tightly taking its
stock and placing 1t independent of the
money power Of the opposition.
1t is proposed Pnow, as the amended
cesrter makes the Exchange q mercantile
concern with power to cell to anybody,
and reduces the shares to 500 each-that
there be fractional shares Of s. each is
sued, and that any brother having 8 50
share and wishing So share. may sur
render his 50 share and psy 50 more. Aud
any brother having the money to spare
will be allowed to take as much as
s495 worth OF capital stock. And in the
different counties that the lecturers be
authorized to issue stock on receipt OF
the money and thst where any number of
members In sub-Allisnce desire to take
stock and have no money to pay for ssroe
that thew mske a joint note for the gross
amount on which the stock csn be issued; !
provided sid note can be discounted in !
tina county st usual commercial rates I
snd in such cases the party discoun.iug |
the paper will, II s member of the order, !
be en- tiled to hold stock as collateral 10 |
the note, that such stock shall be trans |
ferable by consent Of that sub-Allisnce |
But Ia case the brethren cannot give notes !
for stock that can be discounted for the !
money in that county, they shall not be |
entitled to have the stock issued.
The necessity for q full explanation
makes it important that 8 number of lee |
lures be delivered at once, and for thst
purpose the following brethren will AXE !
the field:
Evans Jones, 3. J. Kendrick, Gao. L.
Clark, Joe Smelzer, Harry Tracy, Ben
Terrell, J. F. Lcckhart, E 3. Warren,
Chas. Brown, J. L Moody, T. M.
Smith, j. M. Renick, ]. K. Bennett, c. W.
Macune, and as many others as can be
secured. TIE notices OF the lectures
hey will deliver in county will be sent
TO the business agent, president and Sec
,etary Of each county alliance, and they
will de depended upou to give notice i'm
nedistely upon receipt of same and leave
10 stone unturned that will get
me representative men OF the
county out 20 hear these lectures. In sd
iition to the lectures provided for above
jome one will be furnished with full 10
ormation to lay before your county msss
meeting on the OH OF June. This infor-
nation will be full and complete, and
gill be accompanied by blank subscrip-
Ions and notes for stock and, if possible,
omebody will be there who Is authorized
o issue same. Note well the
0BIECT
4 these county meetings is to get the
together in the different
ounties at the same time and to show
he opposition what the Alliance Of Texas /,
an do in one dsy; and we want to be {
BILE to say thst they msde three months
ght Just at the time when they thought
hey could conquer, and the Alliance met =,
nd subscribed for and took up every
olisr of the cspiysl stock In 8 single day. | +
'othing will place The victory in our {
ands more completely.
The events OF the past month will never t
e forgotten by the management of the Z
'armers Alliance Exchange. The trying
rdeal of that one month, If 1t were wit
en- and fully understood, would stir all I
be depths Of manhood and arouse the C
nnest ,pdlpnstion of fyerv farmer in this {