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Show Colored Men Form Company to Benefit Ben-efit Their Kind. New York, Aug. 29. Articles of incorporation in-corporation have been filed in the office ,,f the secretary of state in Trenton, by the Capital Investment & Supply company of Xew Jersey. All of the seven incorporators are colored men. The article of incorporation of the c mipanv permit the corporation to furnish fur-nish supplies to families and establish tores, deal in real estate and engage n commercial pursuits. It is further paid in the papers that the company v.J!! carrv on z portion of its business in New York. Philadelphia, Baltimore, Washington. Chicago. Cincinnati, St. Vu:s. Wilmington. Del., and Richmond ' ;.nd Norfolk. Vs.. and in such other) places in the several states and territories terri-tories of the United States and in such foreign countries as may be found necessary. The capital stock was placed at STS.fiOO divided into 7S.O00 shares of the V,-r value of SI and the amount paid in at the time of incorporation was Jl.4'i0. These were the Incorporators: Albert E. Holmes of Jersey City: Dr. Joseph Weaver of Orange, and James AV. Freeman, James W. Holmes, Jose Jo-se h H. E. Scotland, Elish Weaver and Alfred P,. Cosey of Newark. An office of the concern has been established1 es-tablished1 in Newark, N. J-. another in Washington and negotiations are pending for carrying the company s o?ratjons into Cuba. One of the incorporators in-corporators outlined the purpose as folfowV: , . "For Vearsthe intelligent colored -men p. 11 over the country have devoted their time and monev to the solving of the problem of raising the race to a higher intellectual and social plane. "What is to be the future of the present generation of the colored PPle who are being educated in the Puuc schools to become good and educated citizens? In the past we have found that thev, through force of - circum-stances circum-stances hare been compelled to taKe the menial positions of the non-educated, simply because the business man. no matter-how high the-colored applicant's qualifications may be, is ; adverse ad-verse to placing him in a posit on Voere honesty, sobriety and inte"'- ( gence are essential features required. Every year thousands of dollars, are paid over the counters of the stores, large and small, by the colored people for the necessaries of life, yet you never see a colored man behind the counter or in the counting- room. "Instead of their benefitting by the profit of their own consumption, it goes to someone else. Subsequently those who have studied the problem have come to recognize that business and enterprise are essential . to the -prosperity of a race. Let the colored man realize that fact, get him to strive for it and when he has attained it the social elements will adjust themselves. That is our ultimate aim. It will take a long time, however, before it is realized re-alized and it has got to be begun in a small way." |