The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1889-05-14
THE NORTH CAROLINA BUSI-
NESS AGENCY FUND.

Graham, our State Trustee, requests
us to publish it again, as many of our
Alliances have never seen it. We do
so with pleasure and send a copy of
this paper to the Secretaries of those
Alliances and trust they will preserve
it for the use of their respective Al
liances
NORTH CAROLINA ALLIANCE BUSINESS
AGENCY FUND.
SECTION /. The President of the
State Alliance shall procure a Charter
of incorporation under the laws of this
State for the North Carolina Farmers
State Al lance.
Sec. 2. In order to con lnct the
commercial business Of the North
Carolina Farmers State Alliance and
to protect from loss those who may
deal with the Business Agent of the
same, the North Carolina Farmers
State Alliance Agency Fund is here
by inaugurated.
SEC. 3. The Business Fund shall
consist of not less than fifty thousand
dollars, divided into shares of five dol
lars each, and half shares of two and
half dollars each, and one fifth shares
of one dollar each.
SEC. 4. Each contributor shall re-
ceive from the Secretary Of the State
Alliance receipt, as follows:
NORTH CAROLINA BUSINESS AGENCY FUND,
RALEIGH, n. C.,........... 80. 1S8..
s. Received of ~ of Alliance No
....... . dollars, for the North Carolina Farmers
State Alliance Business Agency Fund snd he is here
by entitled to all rights and interests to be derived
This certificate shall be transit rable, provided
such transfer be made only to member OF the Al
lance in good standing.
This =. day. ........... 1885,.
II; SEAL -. -.
+, Sec 5. The Secretary shall keep in
a book provided for the purpose, list
of the names of those contributing to
the fund, the number of the Alliance
to which they belong, and the amount
contributed
Sec. 6. The Business Fund shall be
managed by the Executive Commit
tee of the State Alliance No por-
ton of it shall be used in the bust
ness of the Business Agency unless re-
quired to settle the contracts of the
Agent made in conformity to regula-
tions Of the Executive Committee, and
when any portion is so used all mon
ey received from the cause Of such use
shall be returned to the Fund.
Sec. The Fund shall be in the
keeping Of Trustee, to be elected by
the State Alliance at this session (Au-
gust 1889, who shall hold Office for
five years. He shall invest not less
than twenty-five thousand dollars of |
said fund in the bonds of the State of |
North Carolina or the United States,
and the remainder as he may deem |
best. The profits arising from said
fund shall first be used to pay the sal
ary of the Trustee and all other ex
penses connected with said fund, and
any remainder shall be used by the
Executive Committee in defraying the
expenses of the Business Agencies.
Sec. 8. Said Trustee shall give a
justified bond in double the amount
OF money supposed to pass through
his hands, for the faithful accounting
for all moneys for which he may be
responsible or any, expense incurred
in collecting the same on his bond.
The Executive Committee shall cause.
his bond to be increased from time to
time, so as to cover the amounts placed
in his hands, and shall require him to
his bond at any time they
deem it necessary, to such an amount
as they deem sufficient, provided, that
no member of the Executive Commit
tee shall be accepted as bondsman.
Sec g. Said Trustee may be re-
moved for cause, by vote of the
State Alliance, and he may be sus-
pended until the meeting of the State
Alliance by the Executive Committee,
by the President. In case
Of vacancy from suspension, removal,
death or any other cause, the Execu-
tive Committee, with approval of Pres
dent, shall fill such vacancy until the
next regular meeting of the State ALI
snce. ;
SEC. TO- The Secretary of each Sub
Alliance shall collect all subscriptions {
made by members Of their Alliance !
md forward to the Trustee, giving {
name of contributor and amount con- (
ributed by each The Trustee shall ,
lotify the Secretary of the names and ]
amounts who shall forward certificates ;
% the Secretary of the Sub Alliauce
Us provided in Section A. The Secre- {
AIRY and Treasurer shall turn over to