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down under a stable and quiet government.

That from the communications received from
said Morgan since his return to Texas, it appears
that he has been unable to carry forward as contemplated
the designs and objects of the Company, in consequences of the dis-
turbed state of the country, but has no doubt done every thing
in his power, with a view to the ultimate interest of the
Concern, and will resume his regular & exclusive attention
to the interest of this operation as soon as his public duties
& other considerations will admit.

Whereupon. It was on motion resolved: That
the Shareholders fully approve of the course adopted by the
agent, Jas. Morgan, during his last visit to Texas, and
also of that of the Secretary & Treasurer.

The Secretary further reports that he had under
authority conferred by the Shareholders, opened a correspon-
dense with Dr. Smith of the Island of Bermuda, in
relation to the introduction of indented free colored la-
bour into Texas. But that since the declaration
contained in the constitution of Texas prohibiting
the admission of free people of color into that
Country, he has considered as useless the further
prosecution of the plan. Whereupon, It was on
motion resolved that this contemplated arrangement
be cancelled and abandoned, & that the Secretary to
the [?] in the [?].

The Secretary further reported that the credit
he had opened in New Orleans in favor of James
Morgan
, under his own responsibility for Five Thousand
Dollars / afterwards approved & opened by the Company
is now fully used & cancelled. But in order that any
Bills drawn by Mr. Morgan in case he should require
further funds, without being able to give our notice
thereof, should be protected, he has authorized his,
friends in New Orleans further to accept from
said Morgan to the amount of Two Thousand
Dollars: of which, however, no use is yet advised

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