The weekly Union times. [volume] (Union C.H., South Carolina) 1871-1894, 1891-01-16

To Ue NsMsws ef tho Farmer Al'sanet %
SSSaiA Caro,;ss:

4. -. ~ n : Tsr,s eru, Alliance have decided
y "a ioes, ! 4be state Exchanse 10 the City OF
Columbia and In connection herewith TO es-
tsblish a Farmers' Alliance Bank.
Altar careful consid.raiion and tiiorough
;rv,stiva,icr Of tho plan under wbf hs
State Exchange was organized IT hsssf
decided that thers 10 nothing Ia said pnp
nniseopisiic 10 investing the capital stock 70
bank 10 be controlled and used In oonnee
iion herewith. &c
- arrsugsmepts nave been MADE 10 'RPy
for q charter fosstbs bank, ena asfeyssRsa
u .1,sois az Subscrsb bfiosskwSAr what It's name
4. is ,L~I--~rurmers' Alliance Bank, to be
and controlled BY the members Of the
Farmers Alliance, with the understanding
that the ExchsDge Is 10 have o controlling
interest. All individual members Of the
Alliance, Abe State Alliance and County Al
lianees, in possession Of surplus funds, are
asked, and even urged, TO subscribe to its
capital stock.
Alta meeting Of the trustees. .ocklolders
held In the city Of Columb n, on the 9th and
1lih instant, the undersigned were appoint
cd committee to issue an idres, 10 the
Alliance membership calling their attention
to the facts stated and to urgo upon them
the prompt payment Of the balance Of stock
duo the Stntc Exchange.
most disoournging circumstances. Only
One.fourih of the subrcribed ~ ok was cs He'd
for. and this couli not DO used on'y rs q
b'ss of commercial rating. The board OF
directors were instructed TO begin busine ess
and thus enter tho INNER cial fold in which
there Is much ability, experience and sharp
competition, and ibis without n dollar fa'e n
small amount as interest on that part Of stock
paid in.
Eva rutt ttuer -,
sition met them 1T every turn. Wholesale
dealers and manufacturers regarded tho
movement in its proper light rs mn expert
meDt and acted toward il accordingly. The
days were dark, as we'll ns the nights, and
ofiimes il seemed rs though the enterprise
would have to DO abandoned. Expenses
and debts accumulated day nfter day and il
seemed nlmo.t impt s-ihle nj one time that
We should ever be able to meet our obliga-
tons. We thought seriously Of asking The
State Al innce to help us over our financial
difficulties
But during nll these dark days there was
one thought That insl ired us 1t was the
fnith VIC had in the loyalty of tho Alliance
membership which was a sheet anchor TO
our hearts. This gave hope and promises
of a brighter future. Tint future oamc nul
with ii camo light and joy. All i, now
bright before us The hardest bate, have
hecn fought, the darkest days have passei
away and that somc loyalty 10 this good
cause om tho Purt OF the membership of tho
Alliance will, VIC believe, make the Exchange
what II i, intend 'd to he, n means Of saving
20 every Alli,ncc man some of the profits
on articles produced and sold by him, of
choapenng n'ticlcs purchased by him. and
of re iucing the rate of iniurcst on money
borrowed by him.
Let each member ofths A linnce in paying
his dues to the Exchange tnko into tho ac-
count the probable and possible benefits to
accrue TO him in this business. and SEQ if il
does not promise to be the best investment
mnde by him. Much credit is due tho State
manager for the success attained 10y tho Ex-
change. In fact he has dono the hardest
work and ha, come into direct contact with
the many difficulties and great opposition to
the enterprise. Leaving his own business,
and with salary contingent on tho success
"i Tie work ho 10 deserving Of the confidence
and esteem Of every Alliance muu in the
Stntc. Tho business is growing, and our
manager with those Of other Statcs are now
dTrahging to act together or In concert With
Gach other whenever this can be done advan-
iageously to the Alliance membership.
What power and Influence is this for tho
elevation, training an financial success of
the farmers Of our country. Let us sec to
it, that our Exchange 5 "a. not be behind
Others.
With tho IS per cent Of unpaid stock to
tho Exchange, and with subscription from
other sub-Alliances which have not ms yct
subscribed, tho State Exchange can put into
the bank tifty-tive or sixty thousand dollars
and tho capital stock Of said bank from it's
individual Alliance subscription. with what
County Alliances and State Alliances may
ia, Cdn easily be run to one hundred thous-
and dollars. Now stop to think whnt u
vast banking business eau be run on such
capital, and Whit power this will be in
promoting, Directly and indirectly, the inter
csts Of the farmers of tho State
The State Exchange mu.t have salaricd
officers ani employees To do its work.
Every bank must havo the same threw
those institutions together and place them 10
large measure undor the same manage
ment, and see how economically and with
what great saving of monoy the work can DO
done. Is there anything to keep the Farm
ers' Alliance of the St, of South Carolina
from 'aving money in managing for them
selves an Exchange and Bank, two lines Of
business in which so many others make
themselves fortunes?
The trustee stockholders of the Exchange
will meet in Columbia Oh the 18th of next
January to perfect arrangements for c'tah-
fishing the Farmers Alliance Bank and il
is of vital importance that every cent of sub
scribed stock should te paid in on or before
that time. Brethren, the successful opera
ton OF the State Exchange of the Farmrra
An::::1o Vi oUuIn Carolina depends in n
great measure upon the prompt payment Of
this stock. Can wo not hope that this will
be done, and that other sub-Anhnces who
have done nothing in this direction will in
like manner send in their subscriptions!
The State Exchange, desiring I, be Just
10 sub. Alliances in this connection, Mt ns
meeting i'll Columbia unanimously adopted
the following resolutions:
Resoired, That sub-Allianccs which have
subscribed two or mere shares Of stock t.
the State Exchange and have paid part of
the same, md have since making such pay
ment been reduced in membership below the
constitutional number upon which said sub
tcription was based. that all sub-AlliancCs
shall hayo the boncft Of such reduction in