368 HISTORICAL AND POLITICAL. 



establishments; to manufacture guano or other fertilizers; and all such other enter- 

 prises as may be found necessary or advisable to profit and betterment. 



" 3. This corporation shall have the power, by and under its corporate name, to 

 enjoy the following rights and privileges, to wit : It shall be capable in law to pur- 

 chase, receive, and hold and" enjoy, lands, goods, chattels, and property of any kind 

 and effects whatsoever; the same to grant, sell, mortgage, and dispose of, sue and be 

 sued, plead and be impleaded, contract and be contracted with; to make a common 

 seal, to alter or break the same; to establish and put in execution by-laws governing 

 the corporation; to issue and float debenture or other bonds; to do a printing and 

 publishing business. 



"4. The capital stock of the corporation shall be $1,000,000 twenty-five per 

 cent of stock subscribed to be paid in during the year 1888, the remainder in three 

 instalments of twenty-five per cent annually; and when $50,000 is paid in, the board 

 of directors shall begin operations. The capital stock shall be divided into 10,000 

 shares of $100 each. 



" 5. The term for which this corporation shall exist shall be ninety-nine years. 



" 6. Subscriptions for shares of capital stock shall be made by Farmers' Alliances, 

 and not by individuals, and shall be accompanied by twenty-five per cent in cash 

 of the amount of subscription. 



" 7. It is hereby understood or agreed that each Sub-Alliance adopting this Ex- 

 change system, and thereby ratifying this plan, is firmly bound to subscribe for and 

 make settlement on stock, as above specified, to the number of shares due from it, 

 under the following schedule of ability, to wit: Those having less than thirty-five 

 members shall be apportioned one share; thirty-five to sixty-five members, two shares; 

 sixty-five to ninety-five members, three shares; all above ninety-five members, four 

 shares; Provided, this shall not prevent any Alliance from taking as many shares as 

 they choose. 



" 8. Each Farmers' Alliance shall be entitled to one Trustee-Stockholder, who shall 

 be elected annually at the time of the regular election of officers. He shall repre- 

 sent such subordinate body in the meeting of Trustee-Stockholders, from and for all 

 the subordinate bodies in that county, and shall be entitled to as many votes as he 

 represents shares of stock. The county convention of Trustee-Stockholders shall, at a 

 regular annual meeting, elect from their number one delegate from all shares of stock 

 owned in that county, who shall be known as County Trustee-Stockholder, and be 

 authorized to represent the stock held in that county in the State meetings of the 

 Trustee-Stockholders of the corporation, and shall be entitled to as many votes as they 

 represent shares of stock. Each Trustee-Stockholder shall be the representative of 



the Exchange in his Alliance, and shall give bond in the sum of dollars for 



the faithful performance of duty. 



" 9. The next Trustee-Stockholders' meeting shall be at the time and place of the 

 next meeting of the Farmers' State Alliance of Georgia, unless sooner convened by 

 call from the Board of Directors of the Exchange. 



" 10. The Trustee-Stockholders shall elect annually eleven from their number, as a 

 Board of Directors, to be chosen one from each congressional district in the State, and 

 one from the State at large. Seven of these directors will constitute a quorum. 



"II. The Board of Directors shall elect from their number a president, vice-presi- 

 dent, and a secretary and treasurer. They may employ or discharge such assistants 

 as necessary, taking sufficient bonds to cover all responsibility reposed. They shall 

 enact suitable laws and regulations, subject to approval by the next meeting of stock- 



