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6.

time of subscribing, which is paid to the Treasurer, to be paid out by him in carrying out the objects of the association, only upon the order of the Executive Committee.
It is provided by the by-laws that stockholders incur no other liability, by a failure to pay subsequent instalments, than the forfeiture of their stock and the first instalment, as it is expected that the first instalment will furnish adequate means to effect the objects of the company.
Any person may become a member of the company by subscribing for one share of stock. The by-laws, however, prescribe that no stockholder shall be entitled to the emigrating advantages which the company propose to furnish, unless he shall subscribe for as many as five shares, and pay 10 per cent. ($25) upon the same; but all stockholders, whether of one share or more, will be entitled to all other advantages to be derived by the company in the execution of their plan of operations.
Another feature presented by the company to those who desire to avail themselves of the emigrating advantages alone is, that, upon the payment of twenty-five dollars to the Stock Agent for the use of the company, they will be relieved of the contingent liability to which stockholders are subject of paying the remaining ninety per cent. of their stock subscriptions (if the best interests of the company should require the instalments to be called in), and will be entitled to all of the emigrating advantages furnished by the company, but not to any of the pecuniary profits which will be derived by stockholders.

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The emigrating advantages may be briefly summed up as follows: 1st, Furnishing to all who desire to emigrate full and reliable information as the plantations upon which leases may have been obtained; 2d, obtaining from owners of plantations, leases on the most favorable terms that can be obtained, both as to amount of rents and duration of tenure, with the optional right of purchase, and sub-leasing them to settlers; 3d, Determining the most suitable points of rendezvous for settlers, and providing the most economical mode of transportation for themselves and families from the place of rendezvous to the place of settlement; 4th, Rendering such pecuniary aid to the settlers as the company may be able safely to do, with reference to its means, and the ability of the settler to repay with interest the amount advanced for the purpose of assisting the settler in emigrating to the plantation, and establishing himself in a condition for its profitable occupation; 5th, Making contracts with freedmen to labor for the settler on the plantation; 6th, Assisting the settler in obtaining the best price of the products of his plantation; 7th, Assisting him in purchasing the lands he occupies, or others convenient and desirable; 8th, Protecting the settlers in the occupation of their plantations by means of aid to be derived from combinations of settlers effect by the agency of the company and (if it should become necessary) the military power of the Government, and, in general, by overlooking his welfare.
The enterprise now presented by the company of occupying Southern plantations with a hardy, patriotic and loyal race of Northern men, embodies two principal