Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1889-08-08
The State Farmers' Alliance.

OSOINS III aOIldG uOuy.s45 a ilo llleSSdslS
of President Stackhouse is most
interesting document. He says
there are 754 sub-alliances and 81
county alliances in the State, with a
membership Of over twenty thou
sand.
The chief question before the al
lance was the establishment of an
Exchange. The question was warm
ly discussed and finally adopted.
The plan adopted is identical with
that of Texas and Georgia. The
following is substantially the, plan
adopted:
Article 1. The namo of the cor
poration shall be the "Farmers' AL
lance Exchange Of South Carolina,
limited" and by that name. it shall
have power and authority to exist
and enjoy succession for the full
term Of ninety-nine years.
Article 2. The domicil of the cor
poration shall be in any city or town
in South Carolina the board Of COR
porators may select, and ali citations
or other legal processes shall be
served upon tho president of said
corporation, or in case Of his alb
sencc or Inability to act, upon the
vicc-prcsident, and in case of the
absence of both, upon IT, , secretary.
Article 8. The purposes for which
this corporation is organized arc to
| conduct d general mercantile bust
ness, and to act as agent for the pur-
chase and sale of all kinds of farm
supplies and products, and to do ali
that appertains to the receiving,
handling, forwarding and marketing
of said products, and the purchase
of supplies; to erect, manage and
operate warehouses, stock yards,
grain elevators and packing cstab-
llshments; to manufacture guano or
other fertilizers, and all other such
enterprises as may be found ncces-
sary or advisable to their profit and
bcttcrment.
Article 4. The capital stock of
this corporation is hereby fixed at
the sum of H200,0UU, divided intu
1000 shares of $50 each, with lib
crty to begin business whenever
$4,000 Of the capital stock shall have
been subscribed. No stockholdcr
shall ever be held liable or response
bic for the contracts or faults of this
corporation in any further sum than
the unpaid balance due on the shares
of stock held by him, nor shall any
morc informality in organization
have the effect of rendering this
charter null, or of exposing a stock
holder to any liability beyond the
amount Of his stock.
Article 6. Subscription to shares
of capital stock shall be made by
sub-allianccs and not by individuals.
Applications for shares of stock
must be accompanied by 25 per cent
IN cash of the amount of stock sub.
scribed, the balance to be paid when
called for; when certificate of stock
shall be issued as soon as the full
amount subscribed for shall be paid.
Article 7. 1t is hereby understood
and agreed, that each sub-alliance
adopting this exchange system and
thereby ratifying this plan, is firmly
bound to subscribe for and make
settlement on stock, MS above spcci-
lied, to the number Of shares due
from it, under the following schcd-
ulc of ability, i. c., those having less
than thirty-five members shall be
apportioned one share; thirty-fivc to
sixty-fivc members, two shares; six
ty-fivc to nincty-iivc members, three
shares, all over ninety members, four
shares: Provided, this shall not pre-
vent any alliance from taxing as
many shares as it chooses.
Article s. Each sub-alliancc TAX
ing stock IL this corporation shall DO
entitled to one trustee stockholdcr,
who shall be elected annually at the
time of the regular election of off
GERS. The first trustee stockholdcr
shall be elected by each sub alliance
when it decides to subscribe for
stock, and shall serve till the next
annual election. lie shall represent
his alliance in the meetings of trls-
tee stockholders from and for all the
in that county, and
shall be entitled to MS many votes as
he represents shares Of stock. The
County Convention of trustee stock
holders shall, at a regular annual
meeting, to be held after tho county
i'm july and before fbn Stoto