An Afro-American Financial Accumulating Merchandise and Business Association was organized in Pittsburg, Pa., June 22, 1896, for the purpose of accumulating money to establish business among the race. This association promises to build three large buildings, not to cost less than $40,000 each. In these are to be carried on all kinds of merchandise, and our young men and women will be thus employed. Its object is to accumulate $560,000, which is to be divided into shares of $52 each, and any person can purchase one or more shares for 10 cents each, for which the association gives the purchaser a membership certificate. This certificate entitles the person to any employment which the association may need; also when the holder of the certificate has paid in $52, his or her certificate will be Already $35,000 worth of stock has been taken. The association now has two coal yards running, four teams and 14 persons employed. It will open a brickyard and stone quarry in East Liberty this spring and employ 125 men and 40 teams. It will open coal yards next fall in Allegheny, Braddock, and McKeesport, Pa. Men, women, boys, and girls are asked to take shares. You pay 10 cents for a share, then 10 cents a week. After two years you can, if you wish, draw your money out of the association. You can also borrow money out of the association. Rev. J. H. Thompson, 38 Arthur Street, Pittsburg, Pa., is the President and General Manager. The Afro-Americans will watch the workings of this association, and if it proves a success similar associations will likely be established in other sections of the country. (Star of Zion.) |