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Scripto | Transcribe Page
Hampton Negro Conference. Number III. July 1899.
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statement of account, or deposited to his credit in the Savings Department of said Association as the said Tenant shall elect.
The said "Co-operative Land Association" in consideration of the faithful performance by the said Tenant of every and all the provisions of this Contract by him herein agreed to be kept, and of the sum of one dollar to it in hand paid by the said Tenant, the receipt whereof is hereby acknowledged, doth hereby convenant and agree as follows:—to wit
a. To furnish the services of a capable Superintendent who shall instruct the said Tenant how to cultivate the soil and manage his crops so as to obtain the best possible results, and to whom the said Tenant may freely appeal for such information as he may desire in that connection.
b. To provide, in conjunction with the County authorities, proper day school facilities for at least six months of each year for all children under the age of sixteen years and likewise a night school for at least four months in each year open to all other members of the family.
c. To establish and conduct a general store, and in connection therewith a cotton gin, mill, and warehouse for the storage of crops, and such other departments as may to the said Trustees seem wise and expedient. It being especially agreed that all charges shall be moderate and not exceeding current cash prices for similar goods and services; that each year, after deducting from the net profits a sum equal to 10 per cent upon the amount invested therein and working capital, one-half of the balance shall be divided between the active members in proportion to the total amount of their respective transactions with the various departments, and the other half thereof shall be added to the net surplus of the Association.
d. To permit the said Tenant to purchase from the general store of the Association on his personal credit to an amount not exceeding the sum of five dollars per month, plus his credit on the books of the Association in any of the departments.
e. To provide a Savings Fund department in which the Tenant may deposit his savings at 4 per cent, subject to withdrawal at any time upon 3 months notice.
f. To give the said Tenant every opportunity of subscribing to the Capital Stock of the Association (when issued) in sums of not less than $100.00.
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