Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1909-05-04
creases in value His talk ably second

At the conclusion OF tneSe Speecnes
the meeting adjourned for a few min
utes while the visitors were excused
and then went into executive session
to deliberate upon the course to be
adopted with reference to the plan pro-
posed by President Barrett Thursday
night.
The action of the Union farmers Is
indicated by the resolutions passed af-
ter due deliberation and discussion OF
the pros and cons during the remainder
of the meeting yesterday. That action
was the formal Endorsement Of the
warehouse plan proposed by President
c. s. Barrett of the National Farmers
Union, and its adoption by the Union
farmers Of the state Of South Caro-
lima as far as the authority Of this body
extends.
Official Action Taken.
This plan is for the organization and
INCORPORATION Of a Union consolidated
warehouse company, subscriptions to
the capital stock Of which may be paid
in cash, or in real and personal proper
ty. or in the assets Of similar or other
cotton warehouse companies at their
reasonable value and also the right to
nav for such assets Of similar or other
cotton warehouse companies incorpor-
ated or unincorporated, by issuing to
such other or similar warehouse COM
panies its common or other stock In
exchange for their assets, including
warehouse buildings. franchises, good
will, ETC., upon such fair terms Of pur-
chase of exchange as may be agreed
upon by it's board Of directors or SAID
Union consolidated warehouse COM
pany. and said similar or other ware
house companies, or their stockhold-
ers or owners: with the right, by said
sale or exchange Of its said stock, 10
completely buy, merge and own sucn
other or similar warehouse companies,
or to exchange or sell its stock for a
part of the capital stock, or other
holdings or assets Of other or similar
warehouse companies, incorporated or
unincorporated.
The business of this corporation OF
farmers will be to buy, build. own, lease
and operate warehouses for the storing
of cotton throughout the southern
states; to engage in the business OF
storing and warehousing cotton and
other farm products for hire, to issue
negotiable or non-negotiable warehouse
receipts or cotton certificates, as need
ed, upon cotton or other farm products
stored in any Of the warehouses own
er or controlled by the corporation, and
to provide for securing and guarantee
ing, by pledging all or any part OF Its
physical or other assets, or by obtain
ing other guarantees, at the discretion
of its board of directors; to buy and
sell cotton and other products for it.
self, or as agent or trustee for It's
stockholders, or other persons or cor
porations, upon commission.
To aid it's members or stockholders
In borrowing money upon their cotton
or other products when safely stored
in the warehouses of either Of them,
Of said corporation, upon its guaranteed
receipts; also to borrow money upon Its
own initiative for the purpose of lend
ing same to its stockholders upon their
cotton, or other farm products, as
pledge or collateral, and to mortgage
or pledge it's own assets to also FUR
ther secure such loans, for the purpose
among other things, Of enabling such
stockholders to hold their cotton, etc.
in their efforts to secure fair and bet
ter prices therefor.
No one may be stockholder in this
corporation who is not a member Of the
Farmers Educational and Cooperative
Union Of America.
A warehouse company, the owner
ship Of whose stock Is exclusively held
by members Of said Farmers Educa-
tional and Cooperative Union Of Amer
lea, may buy and own shares OF stock
in the corporation in its own behalf,
but may not dispose of or sell the same
to any one not member of said Far
mers' Educational and Cooperative
Union of America without first Offering
same to this corporation and allowing
it 80 days within which to cancel said
stock on its own books and pay par
value therefor.
In case of the death Of a stockhold-
er, then his executor or administrator
must first offer for sale the stock to
the board of directors of this corpora
ton.
The meeting adopted resolutions that
Commissioner Watson and commit
tee from the Union wait on the presi-
dent of the United States to get him
to send abroad an agent to get infor-
nation from the manufacturers there.
Live Stock Man Wanted.
The State Farmers Union has In
dorsed the request Of Commissioner
Watson asking for a government man
to be located here to look after the
live stock industry of the state. The
Union realizing the good that has been
done here by the state agent of farm
demonstration work and that much
good could be accomplished by having
a man here to do the live stock work
adopted the following resolution:
Resolved, That the Farmers Union
of South Carolina hereby indorses the
request Of the state department of
agriculture of the secretary Of agri-
culture of the United States, bureau of
animal industry, to detail one or more
field experts from the bureau, to be
stationed in the state for the purpose
of advising, directing and assisting
those engaged in or about to engage in
live stock raising, particularly in the
raising Of beef cattle"
The Clemson summer schools for In
struction Of farmers was indorsed.
Also resolutions thanking Prof. ]. N.
Harper, Commissioner Watson, Con-
pressman Lever and others for protect