The wageworker. (Lincoln, Neb.) 1904-????, 1907-09-20

long steps towards getting the move
ment into workable shape. Eight
unions were represented, a gain of
two over the first meeting of the
committee. The following delegates
we're present:
A. V. White, Plumbers
J. w. Dickson, Carpenters.
T. C. Kelsey, Leatherworkers.
A. B. Woellhaf, Painters.
4. w. Evans, Cigarmakers'.
Alex Weckesser, Pressmen.
Fred Ihringer, Typographical
5. l.. Chaplin, BARRIERS.
After the reading and approval of
the minutes of the initial meeting,
Secretary Maupin proceeded to read
draft of the articles of incorpora-
ton prepared after consultation with
Hon. Frank w. Tyrrell, county at
torney, who volunteered to help the
committee in every way possible with
legal advice and assistance Just as
soon as Incorporation papers can be
whipped into legal shape and made
satisfactory to a majority of those at
interest. they will be filed. 1t will
take several further meetings of the
committee. however, to perform this
task, and after that will come the
work of planning the campaign for
finances.
That the general public is taking
notice of the project is evidenced by
the fact that several real estate
agents have visited the secretary for
the purpose of calling attention to the
'best possible site," and three or four
representatives of money-loaning con-
Germs have visited with view to Sc
curing the contract for negotiating any
loan that the association may deem
necessary to secure.
i To date the committeeman elected
nave expressed themselves in favor of
the "closed stock company" plan of
the organization of a stock company
along such lines that it's business will
be retained in the hands of union men
through their various locals. Further
than this the committee has not def
nitely gone. The articles of incor-
poration as considered so far, but not
decided upon, provide for a stock
company with a capital of $4,000.
Ownership of stock is limited to 81 Geo
for an individual. and to $1,000 to
any union. No organization not afiili-
ated with the American Federation
OF Labor will be permitted to h Id
stock as an organization. Each 'mion
holding 500 or more of the stock
will be entitled to one member on the
beard of directors, and six directors
at large are to be elected by the in
dividual stockholders. Proxies will
representing 1000 shares. That is, a
stockholder holding 500 shares cannot
act as proxy for more than 500 shares
belonging to another stOckholder.
The board of directors will elect
seven trustees, five of whom must be
members in good standing of trade
or labor organization affiliated with
the American Federation of Labor
The term is two years. unless mem
bership in the local union lapses by
reason of failure to pay dues or ex
puls!on. The president, vice president
secretary and treasurer will constitute
a majority Of the board of trustees
The association will have the power
to call in stock at any time upon pay
ment of the current market price
The cumulative system of voting will
be provided for in the articles. ThiG
will always insure the minority repre-
sentation on the board of director.
and board of trustees, and will pre-
vent any scheme to freeze out" an!
minority stockholders.
The committee hopes to have th'
legal papers ready by the first o
October for final reference back t.
local unions. When majority of tn
unions have given them proper ar
proval the committee will proceed t.
arrange its financial campaign. AM
when it is framed up there will b.
such a campaign for subscription a
Lincoln has never before. seen.
The committee will meet next Mon
day at the home of Fred Ihringel
1889 d street.
The committee is under obligation
to Mrs Chaplin. Just as Chairman
Dickson announced the adjournmen