The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1889-07-31
SECOND DAYS PROCEEDINGS.
Discussion of the Plan for an EI-
change..UnanimiOu Opposition to
Jute--.ConsOlidation with the Agri.
cultural Wheel Endorsed.

COLUMBIA, July 25-The Alliance re-assem
bled in the Agricultural Hall this morning al
O'Clock. President Stackhouse presided
Alliance in prayers. Vice-President Sojourn,
er presided during the greater part..of the day
The entire morning session was devoted to
the consideration Of the plan for an Alliance
house on this question q motion was made
and passed allowing each county the privi
lege OF two speeches Of fifteen minutes each
proposed by the executive committee, which
was, however, substantially adopted.
A number of the delegates were opposed
| to the idea OF the establishment OF an ex
Dargan and Norris. Mr.. Dargan thought
| that production and not distribution was the
scope Of the farmer, and he thought suitable
arrangements could otherwise be made. He
advised postponing action until another time
! as the Alliance at present should not under
take too heavy load. But he was perfectly
willing to abide by the decision of the body
and do all he could to carry out its purposes
| The Hon. jeremiah Smith thought that the
Alliance members had sent them to the State
Alliance to adopt some such measure, and
should they not adopt such q measure the
asubs" would be disappointed.
South Carolina should take her stand with
the sister States. and was anxious to see this
State adopt plan for an exchange.
The Hon. NJ. L. Donaldson, of Greenville
InOuRuI tuaI Iho oAouAn6S Shouio 10 auopV
Col. d. X. Norris thought the plan too COM
plicated, and that the "a Alliance was not yet
ready to undertake the move; though, II
The plan adopted Is identical with that OF
Texas and Georgia. The question OF the Al
lance Exchange has undoubtedly been the
great issue of the present Convention.
The following is substantially the plan
adopted:
PLAN FOR AN ALLIANCE EXCHANGE.
Article1.' The name Of the corporation
shall be the mt bE Exchange fhn, OF
It shall have power and authority to exist and
enjoy succession for the full term of ninety
nine years.
Article2. The domicil of the corporation
shall be in any city or town in South Caro-
lima the board OF corporators may select, and
all citations or other legal processes shall be
served upon the president OF said corpora
tion, or in case of his absence or inability to
act, upon the vice president, and In case OF
the absence Of both, upon the secretary.
Article 8. The purposes for which this cor
poration Is organized are to conduct q gene.
raj mercantile business, and to act as agent
for the purchase and sale Of kinds Of farm
supplies and products, and to do all that
appertains to the receiving, handling, for
warding and marketing of said products, and
the. purchase of supplies; to erect. manage
elevators and packing establishments; to
manufacture guano or other fertilizers, and
all other such enterprises as may be found
necessary or advisable to their profit and bet
terment.
Article 4. The capital stock of this CORPORA.
tion is hereby fixed at the sum of 500 600.
divided into 1900 shares OF $50 each, with lib
erty to begin business whenever 5000 OF the
capital stock shall have been subscribed. No
stockholder shall ever be held liable or re.
sponsble for the contracts or faults of this
corporation In any further sum than the un-
l~olo 1,,n fbn cka~a
by him. nor shall any mere informality in or
ganization have the effect of rendering this
charter null, or Of exposing a stockholder to
any liability beyond the amount of his
stock.
Article6. Subscription to shares of capital
stock shall be made by Sub-Alliances and not
| by individuals. Applications for shares of
stock must be accompanied by 25 per cent in
cash Of the amount of stock subscribed, the
balance to be paid when called for; when cer-
tifcate OF stock shall be issued as soon as
the full amount subscribed for shall be paid
for.
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, az above specified,
the following schedule o. ability. 1. e., those
having less than thirty-five members shall be
apportioned one share; thirty.f1ve to sixty
five members, two shares; sixty-fve to nine
| ty five members three shares; all over nine
ty-five members, four shares: Provided, this
shall not prevent any Alliance from taking
as many shares as 1t chooses.
Article 8. Each Sub-Alliance taking stock
! trustee stakeholder, who shall be elected an
nually at the time OF the regular election Of
omcers. The first trustee stockholder shall
be elected by each Sub-Alliance when 1t de-
till the next annual election. He shall repre-
sent bis Alliance In the meetings Of trustee