Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1888-06-08
ALLIANCE EXCHANGE.
D.. Macure Indites Statement Show
ing the Faliacy of Arguments OF
Those Opposed to It.
Tbs Power Of t19 ITusCsea Tho Charter
she snsres.- VINO is Making Money
Out ftbe Concern.
speeIal TO the Gazette.

81 Lo-morrO" VIII puOIlsa the IOIlOWlDg
open letter from Dr.. c. W. Mscune, Civ
ing the Alliance Exchange part ofthe re-
cent sad pending controversies 10 fall:
EDITOR Mercury
Since the Opposition to the business
efforts o: the AIliaLca by the press seems
20 have assumed den1i'e saape, by one
paper hsviog undertaken to champion
their csa 40 and number Of others copy
Ing sid nus assisting In the circ ulstion
70 Il j Irz slch Alliance business effort;
aLd slnce such papers are reported to be
sent in large Numbers to various parts Of
tn slate ID to the leading cities OF the
country; snd since said reports are cslcu-
lsted to m'slead many who are friends 10
t,a Alliance and its business efforts, by
making me impression thai said business
eF)rI ms failed or had in some wsy be-
cons sgn Irrassed through i.s own sys-
i,Ei Z % M shods, or that there were sun
DIV ond yarious things in connection With
ssit uIs ness that the membership ct
i2-La Euul6 not endorse II they under
stvuI !. .Orou2hiy, 1t is thought best to
wri.a, :1s the benefit Of the order aEd its
III acs, - full and complete statement
81 20 SD in regard to said business eff
i0st.
lis IL not doae for the purpose of en-
.&e,a2 L. or prOloDging ; controversy
U,rh opposition papers, snd it Is the
~rlrer's intention not to notice th9m
TIarD tlay shah gSrole his srticle, collect
tDg rt8t, Dents here and there and put
Tag "a II together, misrepresenting him,
n aH.ition will be paid them-no
answer IL necessary for their benefit.
TGeee statements are simply made to
za1ss interested, that they may be sat!s-
led, and may at glance detect the
talIuc7 OF the arguments and statements
Ct those whose great love for the farmer
50 >u5toniY developed as to take occa-
SION to warn him Of how he will lose on
his business effort.
|. Tae Farmers Alliance Exchange Of
Texas was organized bY the Farmers
State Alliance OF Texas a. It's last regular
session, held in the city of Waco, in Au-
gust, 1887. The plan on which 1t was TO
90 conducted and owned WAS intended TO
De strictly cooperative, and as such, de-
sired q large number OF stockholders,
with each paying 8 small sum and all
being equally represented, rather than s
IN slI number OF stockholders, each pay
ing s large sum and voting according
10 money paid. These matters were
discussed in the State Alliance, snG 1t
VAS realiz 9d that with thousands CT
stockholders, scattered all over the state
for !. was presumed that stock would
be taken in every organized county in the
state and such now mas been the case-it
would be very expensive and inconven-
lent fer stockholders holding 50 worth of
stock 20 meet at one place-some OF them
perhaps spending $50 on the trip-once a
Yesr, for the purpose OF electing bo1rd
ri directors. II was therefore decided 70
eject a committee of twenty five
meu, there being two from
each congressional district aEd
t3ree from the state at
large, whose duty should be to act as
trustees for the members nip otrhe Farm
e-s' State Allia, &c of Texas who had paid
assessment toward the capital stock OF
the exchange, and each to hold one share
Of stock in trust for such constituency,
and represent them st the stockholders
meetings. This is in sCcord with the
custom in this state with mHay CORPORA
lions or companies or associations Of in
IL they own stock n an
other corporation they have it made
out 70 some individual as trustee,
and he represents and votes the BLOCK
IS such, and the laws governing &
trustee are explicit, sad completely pre-
C!ude the possibility OF the twenty tive
trustees claiming tnst they OWE toe EX-
change property, IS has been alleged they
would by the opposition. tEis shows
further that it is not the Mscu1e E1-
change, rs they have said, and the writer
wishes to add that G. W. Mscune is not
1 trustee nor director-thR: he is simply
An employe, and that his efforts have been
reported monthly TO board OF
seven directors, who have been
yerv cautious to require that every
move should conform to the original
plan adopted by the State Alliance. Un- |
de- that plan it was made the duty OF the |
management to get 6 charter that would |
enable them to sell the products OF the
aud purchase fer them their
But il was found when an
YVES made for such charter
nat the purchase and sale OF goocs, |
wares and merchandise mad to be omitted, |
IS contrary TO law, with that
amount of capital stock Consequent
", the business WAS consldera-
tly hsuoe-et because It could not sell
Il aid handle them, but
only for those who Rad psld the assess
ment, thus sc!irg as purchasing agent on
\ salary, using the purchasers money with
which to purchase. While operating I'M
der that cnartar. It. was reported that the
could not sue or be suedi
This was entirely false, as there
never has been q time but what
It could sue or be sued. The
laws were amended st the re-
cent session of the Legislature, thus ena-
bling the board OF directors to carry out
their original Instructions from the stock
holders and make the'business mercantile.
This has been done, but in order to con-
form to the new law, the sizs OF the
shares hsd 70 be reduced to less amount
than $500; they were therefore placed st
500 each.
. It's charged by the opposition that
the Exchsrg9 management are making
speculation out of the business. Ii by
this they mean thet the board Of directors
sre making money for themselves, the
writer knows that such Is not the case,
and he knows further that the mileage
and per diem tiny have drawn for at
tendance ST meetings snd duties perform
ha /