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12 INCOME. 100 bales of cotton, at $100 per bale, is.............. $10,000 00 EXPENSES. Wages and board of laborers; cost of mules, carts, and other agricultural implements; family expenses; ginning, baling, and transportation, same as above................ $4,400 00 Rent of 100 acres at $5 per acre to owner............................$500 00 Rent of 100 acres at $1 to company.......................... 100 00 600 00 Total expenses, 5,000 00 Net profits first year on 100 acres......................$5,000 00 It is thus seen that the annual profits to one settler cultivating one hundred acres would be from $5,000 to $20,000; which would enable him to purchase the plantation, and make all necessary improvements, with buildings, &c., before the expiration of his lease. For these advantages, the company would receive from him only the small sum of $100 per annum. The aggregate annual profits of two thousand settlers cultivating two hundred thousand acres would be from $10,000,000 to $40,000,000; and the receipts of the company for rents would be $200,000 per annum, enabling it to divide among the stockholders four hundred per cent upon the original investment. The articles of organization (Art. 3, Sect. 1) authorize the Board of Managers from time to time to increase the capital stock as the interests of the company may demand. Should it become necessary to raise a
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