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Hampton Negro Conference. Number III. July 1899.

1899VA-State-Hampton_Proceedings (80).pdf

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79

Erect a 3-room board cottage at a cost of ............$ 130.00

And also a small barn (utilizing for that purpose, as far as possible, the old cabins) at a cost of ........ 40.00

And equip the same with one horse (or mule) costing 75.00

One cow costing.................................... 30.00

Implements and tools costing........................ 25.00

_______

Total Improvements and equipment for each........ $300.00

And for 200 farms.................................... $60,00.00

________

which, with the cost of the land equals, the total of 90,000.00

Leaving for working Capital for the erection and operation of a co-operative store, cotton gin, creamery, warehouse, mill etc. the sum of ............... $10,000.00

While it might be possible for the Association, at some future time, to treat more liberally the matter of eligibility for active membership, it is deemed wire that, at the outset, such membership shall be restricted to thoroughly healthy males under forty-five years of age, and it is a part of the plan that the Association shall take out a ten year endowment policy on the life of each of its active members in the sum of five hundred dollars ($500) in a reliable company.

It is assumed for the purpose of illustration that the average age of active members would be thirty-five years, and as a form for a "Contract and Agreement" between the Association and an active member of that age the following is suggested:

This Agreement made this ...................................day of ................................................................... A.D. 190 .... between the "Co-operative Land Association" (herein called the Association) of the one part, and ......................................................... (herein called the Tenant) of the other part,

WITNESSETH,

First,—That the Association hereby agrees to lease unto the said Tenant a certain tract of land containing .................................................... acres more or less, described as follows :—.................. ............ .................... .................... .................... .................... .................... .................... .................... ...........with the improvements thereon erected, together with one....................cow No............and one horse (or mules) No............. and the following tools, branded with the name of the Association :—

1 Plow 1 Fork 1 Hoe

1 Harrow 1 Spade 1 Scythe

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