The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1890-12-25

vet subscribed, the State Exchange can
put into the bank fifty five or sixty thou.
sand dollars, and the capital stock of
said bank from individual Alliance sub.
scriptions, with what County Alliances
and the State Alliance may do, can
easily be run to one hundred thousand
dollars. Now stop to think what vast
banking business can be run on such q
capital, and what power this will be in
promoting, directly and indirectly, the
interest of tie farmers of the State.
The State Exchange must have saa-
ried officers and employees to do its work.
Every bank must have the same; throw
these two institutions together and place
them to a large measure under the same
management, and see how economically
and with what great saving of money the
work can be done. Is there anything to
keep the Farmers Alliance of the State
of South Carolina from saving money in
managing for themselves an exchange
and bank, two lines of business in which
so mauy others make themselves for
tunes?
The trustee stockholders of the Ex-
change will meet in Columbia on the
2Sth of next January to perfect arrange
ments for establishing the Farmers
Alliance Bank, and it is of vital impor.
tance that every cent Of subscribed stock
should be paid in on or before that time.
Brethren, The successful operation of the
State Exchange of the Farmers Alliance
of South Carolina depends in great
measure upon the prompt payment of
this stock. Can we not hope that this
will be done, and that other Sub-Alli-
ances who have done nothing in this
direction will in like manner send in their
subscription.
The State Exchange, desiring to be
just to Sub-Alliances in its connection,
at its meeting in Columbia unanimously
adopted the following resolution:
Resohed, That Sub-Alliances which
have subscribed two or more shares of
stock to the State Exchange and have
paid part of the same, aud have since
making such payment been reduced in
membership below the constitutional
number upon which said subscription
was based, that all Sub. Alliances shall
have the benefit of euch reduction in
membership and receive credit from the
State Exchange on their stock for any
amount thus overpaid.
At the meeting to be held on the 2Sth
of January, 1891. not only will the
banking business be discussed, but this
will be discussed in connection with the
future management of the State Ex-
change, and it is highly probable that
many changes will be made in the rules
which have heretofore governed the
management of the Exchange. The
whole business will be discussed, and an
effort will be made to reach the wisest
conclusions. Let every member of the
Alliance regard the subject as one in
which he is most deeply interested and
send in such suggestions to the meeting
as will in his opinion most likely lead to
the best results.
But, over and beyond every other con-
sideration, let every true and loyal mem.
Der of the Alliance put forth his best
efforts in seeing that the money due the
State Exchange from the Sub.Alliances
be promptly paid and reported on or
before the 2Sth of January, 1891.
With this money in hand there is q
bright future for the Alliance of South
Carolina Ifit is not paid, no promises
can be made.
Respectfully yours,
J. A. SLIGH,
D. T. DUNCAN,
w. II. ZIMMERMAN,
Committee.