Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1900-08-29
COLORED MEMS COMPANY
Business Scheme 10 GEL the Profit Of Their
Own Trade
Cooperative Move That Il Expect.
ed TO Bring PROFIT 60 the COLI
Ored People.

New York, Aug. 2g.-Articles OF in
corporation have been filed IN the Of
flee Of the secretary Of state IN Tren-
ton, by the Capital Investment and
supply company Of New Jersey All OF
the seven lncorporators are colored
men.
The articles Of Incorporation Of the
company permit the corporation 70 fur
nish supplies 10 families and establish
stores. deal IN real estate and deal in
commercial pursuits Il is further said
In the papers that the company viii
carry on a portion Of It's business out
side OF New Jersey, and that places
where the business is 90 be conducted
are New York Philadelphia, Baltimore.
Washington, Chicago Cincinnati, st.
Louis. Wilmington, Del, and Richmond
and Norfolk. Va, and On such other
places in the several States and Terri
tories Of the United States and in such
foreign countries as may be found nee
essary
The capital stock was placed al S75.-
900, divided into 5000 shares Of the par
value of 81, and the amount paid .n al
the time OF Incorporation was 81. 400
These were the inc0rp0rators. Albert
J.. Holmes of Jersey City. Dr. Joseph
Weaver, OF Orange, ,aud James w
Freemen, James W. Holmes. Joseph II
y. Scotland, Elish Weaver and Alfred
b. Cosey, OF Newark
An office OF the concern has been es-
tabl!shed In Newark. a. J. another In
Washington. and negotiations are pend.
Ing for carrying the cOmpanys opera
lions into Cuba one OF the incorpora.
tors outlined the purpose as follows:
For years the intelligent colored
men all over the country have devoted
their time and money 10 the solving
Of the problem Of raising the race 10 IA
higher intellectual and social plane.
The question Is a momentous one. but
/ believe at last the keynote 10 the
whole situation has been sounded. For
better understanding Of the present
condition Of the col0red man In this
country, however ] ask the question:
What Is 10 De the future Of the pres
ent generation NJ the cOlored people
who are being educated n the public
schools 70 become good and educated
citizens?'
In the past We have found that they.
through force Of circumstances have
been compelled TO take the mental po-
sitions of the non-educated. simply
because the business man, no matter
how high the tolored applicants quallh.
cations may be- is adverse 20 placing
him In a position where honesty. sos
briefly and intelligence are essential
features required Every year thou
sands OF dollars are paid over the coun.
tiers Of the stores. large and small. By
the Colorcd people for the necessaries
Of life, yet YOU never see a cOlored man
behind the counter or In the counting
room,
Instead OF their beneftng By the
profit Of their own consumption. il goes
TO someone else subsequently. those
who have studied the problem have |
come 20 recognize that business and |
enterprise are essential 20 the pros |
perity Of a race Let the colored man
realize that fact. get him TO strive for /
it. and when be has attained it the so- |
cial elements viii adjust themselves /
That Is our ultimate aim. II viii take /
"a long time however. before it Is real |
lied, and 10 has got to be begun In |
q small way