The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-08-05
THE FARMERS COMBINE.
OFFICIAL MINUTES OF THE SOUTH
BEACH MEETING.

a Rebate of Q Per Cent. to Be Guar
anteed.
NEW YORK, Aug. 4.-Your CORES
pondent has Just received a copy of the Off
cial minutes of the alliance business agents
meeting in South Beach, n. Y. The char
acter Of the undertaking which these al
liancemen assumed there is of general in
terest, and perhaps the more so to George
because of the rather prominent part taker
by Col. W. L. Peek, president Of the al
lance exchange of that state. and because
no state is likely to be more heavily affected
by its operation. The account which fol-
low, taken from these official minutes,
may be prefaced by the statement for
which the Wall Street Farmer is authority,
that President L. L. Polk Of the Farmers
Alliance and Industrial UGion has ap-
pointed a committee TO investigate
the matter and that the committee nas VS.
tied New York. Their trip was a lruiteSs
one, for the simple reason that the adver-
tised headouarters of the concern, No. 800
Broadway, had been vacated and no trace
could be found of them here. The commit
tee SAYS the val Street Farmer tried to
investigate, but could find nothing tangl-
BILE to Investigate. The great National
Unicn Company has name, but no local
habitation." But that is unofficial. What
follows now Is official:
THE ORGANIZATION.
The meeting organized on June %, with
NJ B. Coffeeu Of Decatur, Ill, chairman.
and Joe NJ. Massey Of Townsville, Ca,
secretary. There we're nineteen voting
members of the hody, besides H. B. Balch,
A. L.. v.SzsN - - rhO1
secretary of the Union Cordage Company.
There were eight others present, but they
were not allowed to vote. This included
DIR. &. w. Macune and Joseph NJ. Massey.
A. T. Mcintyre. Jr., and W. K. Mcintyre
of Thomasville, Ga.
THE OBLIGATION.
The following obligation was read and
signed:
WHEREAs. The undersigned have met to-
Rether for the purpose Of forming plans to
secure cooperation with the National Union
Company in the business OF the organization
represented by u.s. therefore we do promise as
follows l. We will cordially and earnestly de
vote our attention TO this conference to the
establishment of fuch system of business as
will best serve the interest Of our people, secur-
ing to them all the advantages consistent with
a due regard TO the security and success
of the company and the proper protec-
ton Of the rights Of the capital involved.
tion we may sustain the business Of the com
pany hereafter, all that may be said or done
in this business, except as may become neces-
sary in the performance OF our duty to the
company. g. We will abide the decision Of the
majority of those present. and give cordial sup
port to the plan adopted signing our name in
dividually hereto as evidence of good faith W
W. Holland, Louisville, Ky, F. J. Claypool.
Muncie, Ind, VIM. Dehan, Ocala, Fla, W. D.
Coffeen, Decatur, H., George F. Gaichor, Brm
ingham, Ala, A. Z. Sprague. Reynoldsburg, o., |
j. T. Crawford, Dallas, Tex, j. A. Sigh, |
Sligh's, S. c., Oswald Wilson, New York, Geo. |
+. Rose, Aberdeen, S. D., W. L. Peck Atlanta, |
Ga, J. J. Rogers, Norfolk, Va, A J. Wickman, |
Fowlerville, Mich, George A Gowan, Nashville, |
Tenn, W. II. Worth, Raleigh, n. G., T A. Clay |
ton, New Orleans, La, D. F. Allen, Richburg, |
N Y, A Wardell, Iowa, Minnesota and Wis |
cousin, and H. W. sandusky, Kansas City. Kas. |
1t appears further down in the proceed |
ings that W. L. Peck offered a resolution to |
amend the obligation which he with the
others had already assumed by adding that
nothing in this obligation shall be construed
to debar the representatives Of the state
from explaining the results of the
meeting TO the various alliances they rep
resent" This was adopted. Next day, not |
TO particularize over the routine proceed |
iugs, the plan of operation of the
company was submitted 60 a committee
E Pate aud George F. Crosse |
was appointed to report upon the adoption |
Of the plan as whole. Wilson made this |
motion. This resolution was offered by the |
COMMITTEES:
We. the duly accredited business agents and |
official representatives of our respective states |
have very thoroughly and carefully discussed |
aud perfected the plan for a General co-opera-
tive work upon which the National Union Com |
pany will be formed. We lereby resolve. |
First, that we most heartily and emphatically |
indorse the plan as being practicable and fea- |
sible and one that will carry to our member |
ship the greatest possible benefits and will |
thoroughly and completely solve the |
problem of selling direct from the |
manufacturer to the consumer Second, that |
we hereby pledge our unqualified and earnest |
support TO its provisions.
This was adopted. Here is. the plan |
finally adopted as a whole:
l. The plan for this company embraces the |
consolidation OF the present state exchanges
and agencies of the farmers organization the |
farmers stores Sand securing one or more mer- |
chants east of the $50 or more counties in the |
United States where there are farmers organi- |
cations.
2. To pay for the goods in stock by the first
dehenture bonds of the company with provi- |
sion for such protection of the local managers
as can be legally done, and to retain the present
owners as managers
3. To pay each trade commissioner one half
per cent. on the gross sales in his
exceed the demand of compensation Authorized
by the company. The surplus shall be divided
as follows: Fifty per cent to the reserve
funds OF the company, 40 per cent to the
treasurer OF the state organization in pronor-
ton to the amount of gross sales in each state
and 10 per cent. TO the various national
organizations, in such proportions as the
directors may order.
g. Should any trade commissioner he rartio,,
ly energetic and successful in develoninp tho
trade OF his territory he will be entitled to an
extra allowance, or he will be promoted 70 n
division superintendent at an increased salary.
gross sales made by HIM
8. And to return per cent on the gross DUR
chases TO the individual members of the organi-
cation in good standing
Z. There will be double safeguard against the
possible dishonesty of the local managers.
First. they will be requested to deposit in a sat
lsfactory bank IN the state such amounts of the
bonds they hold as may be agreed upon be
tween the manager ami the union company
and also to give bond of SO 900 for the faith
full performance of their duty
BIS. This bond will cover burglary "a we'll Int
in the event OF the local manager being found
not to be at fault by q committee consisting of
the trade commissioner and the representative
from the head office and representative chosen
by the bondsmen, he shall be released from all
loss in the matter.
g. In addition 10 the per cent. rebate guar
anteed to member of the farmer organizations
on his individual purposes, it is proposed to d.
vide the surplus after a dividend on com
mon stock not exceeding per cent as follows:
One-thrd to a reserve fund; the balance. or
two-thirds, as follows: An equal share to
each 81 of capital stock or debenture
bonds and $40 Of purchases, it being conceded
that 81 of capital risked equals $40 of purchases
by the individuals in the distribution of the sur
plus earnings.
10. The capitalization of the company to be
81 so, 900 of common stock divided into 1.5C0
shares, par value 500 each. and such debenture
do in ant dan nfrlnf ff.na Frarr