Page:The History of Oregon Bancroft 1888.djvu/39

Rh The colonists felt that instead of being half-clad, and deprived of the customary conveniences of living, they ought to be selling from the abundance of their farms to the American fleet in the Pacific, and reaching out toward the islands of the ocean and to China with ships of their own. To remedy the evil and bring about the result aspired to, a plan was proposed through the Spectator, whereby without money a joint-stock company should be organized for carrying on the commerce of the colony in opposition to the merchants, British or American. This plan was to make the capital stock consist of six hundred thousand or eight hundred thousand bushels of wheat divided into shares of one hundred bushels each. When the stock should be taken and officers elected, bonds should be executed for as much money as would buy or build a schooner and buy or erect a grist-mill.

A meeting was called for the 16th of January 1847, to be held at the Methodist meeting-house in Tualatin plains. Two meetingmeetings [sic] were held, but the conclusion arrived at was adverse to a chartered company; the plan adopted for disposing of their surplus wheat being to select and authorize an agent at Oregon City to receive and sell the grain, and import the goods desired by the owners. A committee was chosen to consider proposals from persons bidding, and Governor Abernethy was selected as miller, agent, and importer. Twenty-eight shares were taken at the second meeting in Yamhill. An invitation was extended to other counties to hold meetings, correspond, and fit themselves intelligently to carry forward the project, which ultimately would bring about the formation of a chartered company. The scheme appeared to be on the