Union County courier. [volume] (Elk Point, Union County, D.T. [S.D.]) 187?-1913, 1894-01-18

Muton, IN the recsiptof notices iron
6Anks ~ the oiEect that they hold Ger
tAtn notes fer cellect' on. II arpear,
4hAt 1SutAy 6C0., at FoFiA. now, owl
lArgo number Of notes given bl
farmers tor stocks Ia what Wns know
~ ~ Alliance Purchasing Compan,
0t4anixS1 = Few years a9o with . CAPT
~ of Q 1000, which wss divided int
sharee OF 90 each. These shares wcrs
taken BY farmers, members Of thu
Alliance, tho sum 81 ~ In cash helms
pAid when the certificates OF stool
Wero issued. The remaining Is va.
by notesYtven upon the distinct under
standing thst payment should not be
mede except BY call Of the directors
II other words those taking stock we're
70 get II In shares Of 90 by the pay
ment OF ~.
BY this means hundreds OF farmer:
bec0me stockholders in the company,
esch expecting to get something for
nothing. Besides they were TO have
their farm machinery, groceries. dry
goods, binding twine, etc, ut manu-.
1acturets' prices The scheme worked
admirably. the company doing between
$50 600 and 100000 worth OF business
the i1rst year. II soon t~ranspired that
tho managers Of the company had
made contracts fOrmachinery at prices
cOnsfderable higher than the same
goods were purchased by general
dealers, and then came the .kick.'
Politics entered into the ranks OF the
Alliance more extensively than ever
belOre and split the organization in
twain. The rupture has not yet been
healed.
Finally the Alliance Company was
swallowed up by the National Union.
But what became Of the notes aggre-
eating about 3leO, 00O given by farmers
Tor St0ckg The officers OF the com
pany declared that Ut least S3 would be
returned for each dollar in cash paid
~. After months OF patient waiting
the dividend checks have failed to ma
terilixe; instead, notice have been
served on the signers Of the notes that
unless they r paid At once suits for
their collection will be instituted.
Luthy 4 Co, Of Peoria, ILL.,, are pre- g.
ent owners OF the notes and will force
their collection.
. The question that agitates the sign
ers OF these notes, ~ well as members
OF the Alliance. generally, Is, How
did Luthy 4 Co. get possession Of
them, and who made the tr~apsfer.:s
Nothing was said about them when the
Alliance Company made It's report and
transferred the business. to the Ma
ti0nal Union. II was taken for granted
that the notes would be returned, and
they are, but In . different way than
was anticipated.
Inquiry was made OF J. X. johnson,
who was President Of the Alliance
Company, and George b. Crosse, m ex-
President and one OF the foremost
leadcrs In its organization, but they
fail TO furnish any light on the subjecf,
~ they plead innocence IS TO the man
ner OF transfer. and claim to know
nothing shout II. The same don't
know" spirft characterized an effort to
ascertain why certain transactions in
connection with the Fidelity Insurance
the Scandinavian Elevator
Company, end other schemes inaugu.
rated BY Alliance leaders for the benz
cut Of farmers were not profitable, but
reeult0d disastrOusly cxcert to o few
favored ones, and neeced the farmers
out Of their hard earned dollars. But
these E only lessons OF experiences
dearly bought and paid for BY farmers
Of South Dakota, many Of whom a.c
now convinced Of the error OF !!.e:r
way and will 60 and sin no mo E.
Loncks, OF tho National
Farmers' Alliance and Industrial
Union, In answer to inquiries rs to
how Luthy s. Co. came into possession
Of tho notes. says that the firm has
to satisfy him IN that mint. and