The Southwestern Historical Quarterly, Volume 44, July 1940 - April, 1941 Page: 48
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Southwestern Historical Quarterly
weaker; its stock was worth only thirty-six cents on the dollar
in 1894, and in 1896 Rose thought that twenty cents on the
dollar, or $11,384.01 for the total stock ($86,460) was too
high."' No interest on stocks nor dividends on profits were paid
after 1890.65 By the end of the nineties the Association was
existing on its sales to the general public. There were only a
few cooperative stores to patronize it, and the stockholders'
and directors' meetings were not attended by quorums. The
Island City Savings Bank, claiming that it had been advancing
loans to the Association on false reports, threatened to bring
suit against it. H. G. Niblo, manager, in March, 1900, gave a
lien on the Association to the bank without authorization from
the directors.66 At a meeting in Temple the directors author-
ized the executive committee to close the business and to pay
the debt to the bank.67 The bank accepted $60,000 in notes and
accounts and filed a suit against Rogers and his bondsmen for
$16,000. The proceedings in settling the affairs of the Associa-
tion dragged on for several years. This was the end of the last
cooperative activity sponsored by the Texas State Grange.
Some consideration should be given to Grange publications.
Grange leaders, in harmony with the main objectives of their
Order, to educate the farmers and to make their lives happier,
advanced the idea of founding an independent paper. Since
political parties and educational, religious, and social organiza-
tions had official journals to speak for them, it seemed proper
that the Grange, too, should have an organ. In 1874 Master
Lang proposed the founding of such a journal."' The State
Grange entered into contracts with several papers to pub-
lish its official material, the last of them being the Texas
Farmer, an eight-page weekly journal published at Belton, but
this system did not give complete satisfaction. At a meeting of
the stockholders of the Texas Codperative Association in July,
1882, Rose pushed a plan for establishing a cooperative pub-
lishing association. According to his suggestions the Texas
Farmer Co6perative Publishing Association, Patrons of Hus-
'4Rose to Joseph Laney, July 1, 1898, Rose Letter Book.
65"Minutes of Texas Cooperative Association," p. 507.
"6Rose to J. W. Waltmon, March 15, 1900, Rose Letter Book.
76Rose to Shaw, April 23, 1900, Rose to J. C. Isbell, April 24, 1900,
Rose Letter Book.
"sDaily Democratic Statesman (Austin), April 15, 1874.
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Texas State Historical Association. The Southwestern Historical Quarterly, Volume 44, July 1940 - April, 1941, periodical, 1941; Austin, Texas. (texashistory.unt.edu/ark:/67531/metapth146052/m1/56/: accessed December 14, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting Texas State Historical Association.