The Caucasian. (Clinton, N.C.) 188?-1913, 1893-07-20
MAJ. v. 4. GRAHAM
TRUSTEE STATE sus.EslGEscY FUND
Hak~~ "a Public Report Of How 50 >ou
Stands in Answer Il Sarf.u. Nis<.pF--
-sBtations.

3
stand, i'm Answer t. ssrioa. si>r.pr--
~ensations-
Mr. EDIToE l. evident 10 all
persons who have given the matter
attention that to injure the Alii-
ancc or those connected with it aud
not give the people the truth il
the main object of the articles ap-
peariug as editorials or communion
lions Ia many of the papers III the
past few weeks relating Ia the man
agement of the fund. Having made
assertions utterly destitute of foun-
datiOn and so proven by the records,
they by repetition or insinuation
keep them before the public on the
principle that a lie well stuck to is
partly as good as the truth. am con-
vince, however, that the fair minded
people Of the State will not de-
mand that man shall be convicted
before condemned.
The losses reported iii the state
ment sent to those withdrawing
their contributions is as follows:
]. Cotton hagging : SCI so
. Account Of State Business Agent $50
3. Loan to Ex, Com by order ). Ali .22o0 %
Total $2,732 10
/. Cottonbagging. In the fight with
the jute bagging trust the Alliance
at first resorted to cotton bagging.
The State Business Agent, to fill the
orders he had received. made con-
tracts with cotton mills for bag
ging to be delivered in October, No
yember and December. The farm
ers could not wait but using other
covering sold their cotton and de-
clined to receive the baggiDg, many
of them proposing to use it for next
years crop if they could get the in
diligence. There was $1,000 in these
accounts. Much of this was taken
i'll this way but there was still Il
large amount left on hand and in
the settlement there was a loss as re-
parted. This was North Cardinals
contribution to the defeat of the
jute bagging trust. There was
paid the fund losses on cotton bag
ging, $325,0O
In 1892 1884
Total 1898, AS
AS appears in the Trustees re-
port for those years, which makes
the total 10 $ 81, $685.
2. Accounts of State Business
Agent. BY reference to section II
of b. A. fund article which | an
mex, the Trustees duties are pre-
scribed as to these. The Trustee
has no connection with the making
of these debts, but justice requires
that he should state that they were
occasioned by failure of Sub Agen is
to give bond, in one or more cases
| by worthless bonds, on another by
failure of goods to reach destination
in time for use Gas in case of the cot
ton bagging,) etc. All of these
cases with circumstances are report
ed to the Executive Committee for
approval before payment. Some of
the accounts are now in suit and a
small amount may be realized from
some Of them. If so it will be duly
paid it. The manner of giving bond,
also duty of collecting has been
changed since 1891, as those who
may desire to inform themselves can
learn from the proceedings of the
State Alliance for the years 1891
1892.
3. Loan to Executive Committee.
At Greensboro last year the State
Alliance adopted a resolution (see
page 30 of proceedings) directing
the Executive Committee to borrow
of the Trustee 1920 for the use of
the Alliance and to repay the same
from the receipts of the State Bust
hess Agent and Secretary's offices,
above necessary expenses. | ap.
piled for payment of this and was
informed by the Executive Com
mittee that they were unable to re-
turn it and that as the Legislature
had taken from them the receipts
of the Business Agency and turned
them over to the Trustee, he must
settle this. This money was used te
pay per diem and mileage of dele
gates to the Alliance. Half of il
would have been returned in May
last but for expenses rendered nee
essary by the attack of the legisla
ture upon the Alliance-in employ
ment Of counsel and other expenses
1t will be returned, also the Other
losses as the fund or the Agency
makes the money. The act of the
Legislature made it compulsory on tn,
Trustee to prepare to settle in SIXTY
DAYS. There was no way to max,
these accounts available in tina
time. When collected | have NJ
, doubt they will be duly credited.
1t viii be seen that not ONE GIN
has ever been lost to the fund b.
any investment or "FINANCIERING
of the Trustee. AS to the
PROFITS TO CONTRIBUTORS.
none were ever promised. The fol
lowing is from Sec. Z of the B. A
] fund article and every one contri
buted under these conditions
The profits arising from said fun
shall first be used to pay the salar
of the Trustee and all other expen
i ses connected with said fund an
! ANY REMAINDER SHALL BE USED b