SPECIAL MEETING. 205 



Sons charters; that sacks had fallen also, and that failure was 

 inevitable, the Grangers were advised to repudiate a trans 

 action not binding in law, and save themselves; but they did 

 nothing of the kind. As a body, they stood by their agreements 

 and by the firm, as will be seen in the resolutions of the Stock 

 ton meeting. 



Mr. Walcott, who had previously resigned the Presidency of 

 the Bank, turned over his books and unfinished business to the 

 Executive Committee, who issued a circular proposing to take 

 entire charge of the wheat and wool interests heretofore man 

 aged by him, and thus take advantage of the low prices of ton 

 nage, A special meeting of the State Grange was also called to 

 convene at San Francisco, on the 4th of November. At this 

 meeting, attended by a large delegation from the Subordinate 

 Granges, Mr. &quot;Walcott s books, accounts, etc., were presented 

 for examination. He was present whenever desired, to give ex 

 planations, and the whole business interests of the Order were 

 freely canvassed, resulting in renewed confidence in the prudence 

 and fidelity of the Executive Committee. But no other feature 

 of that meeting will so long be remembered by those who par 

 ticipated in it, as the noble spirit of fellowship which led those 

 who had lost much in the failure of Morgan s Sons, to come to 

 the relief of those who had lost their all. 



Costly as the education in business had proved, it was felt 

 to be worth all it had cost, and there was a determination to 

 equalize the burden by substantial and immediate assistance to 

 the greater sufferers. 



The failure of Morgan s Sons undoubtedly hastened the foun- 

 dation of the Grangers* Business Association, for the members 

 were daily made to feel, in attempting to repair their losses, 

 that FflHMr^qpa fl-tid aVnlifo nnn^Wl for nol,hiTjp T wjthont au 

 thority to act as the legalized officers of a corporation. &quot;Going 

 to war without arms,&quot; was no longer to be Ihougnt of. It 

 had been proposed to incorporate the State Grange, but that 

 could not be done under the State laws. Whether to have one 

 or several incorporations, was a serious question. The fruit 

 growers, wool growers, and dairy interest, all required separate 

 handling. It was finally resolved to include them all in one 

 incorporation, in which those interests should be represented 

 respectively, by men of their own choosing as directors. 



Again, to define the scope of the organization was no easy 



