The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1870-11-20
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Pussnans to public notice, u 'pahllo
meeting. representing the, mercantile,
1nsshnnical agricultural and other inte-
rzssa Columbis, was held on Friday
evening" in Tie hall of the Palmetto En-
giHH Hpuse, CApt. r. D. Sem. upon
mosiOn of Mr. Edward Hope, was called
to the chair. and, 3. O'Neale. Jr., re-
questedto act as secretary. The Chair
stateI ttat the meeting had been called
tdtaka into consideration the project Of
the ptoposed Joint stock company, and
% provide Tor Colnmbia's quota. The
Chair stated that this joint stock organi-
saR0n was deemed necessary to the put.
ting Of the State Fair upon better fnan-
DIAL footing. , He heartily favored the
soRsthe, and ,dopbted not but that Co.
laabia would promptly do her part, as
amatter 81 duty ana self-interest. He
had attended the late meeting of the
State Agricultural and Mechanical So
oietysS shad met with the members from
other portions of the State, and had been
Highly gatiae ea with the earnest and
paaEiotio spirit evinoed. BE then stated
t3Hat1 the msetibg gswas open TO business.
stGoIsi j p Thomas, addressing the
ORaff, eaiti that, as member OF the Ex-
eoutive Committee of the State Agrioul-
tural ana Mechanical Society, and as one
intimately ,acquaiptedl with the opera
tions Of the Society, aimee the war, it was
pefhahsi ia Ills power TO add something
In the way Of, details to what the Chair
had already SO well said. He said that
formerly IN, South Carolina the State
Agricultural SooieLy was aided by an an
aual appropriation from tho State Trea-
sury. This secured the Society, and
was designed to help it on until it should
become self-sustaining. That source of
revenue could not now be relied upon
under the present regime; hence the ne
cessity IF deyising some method to put
che Agricultural and Mechanical Society
upon q proper basis. Now, he said, the
Society. In order to meet the expenses of
the Annual Fair, has to rely solely upon
the gate-money and the payments of
members, life and annual This is an
uncertain dependence. Hence it was
that. one year ago, the question arose,
how. to improve the basis npon which
the Society rested. At that time the
joint stock feature was proposed, but it
was not adopted, and in lieu thereof q
guarantee or indemnity fund of $4,000
was pledged and placed ut the command
of the Executive Committee. At the
last meeting Of the Society, the matter
was again brought up, and it was re-
solved to adopt the suggestion of the
Executive Committee, which favored the
joint stock feature. But to convert the
present State Agricultural and Mechnni-
cal Society into joint stock company
was deemed inexpedient, as it held pro-
perty as State Society. Hence it was
determined to form joint stock COM
pany, auxiliary to the said Society-to
act and work with it. This joint stock
company would secure that better basis
upon which it was essential to place the
State Fair. It would furnish certain
fand to supplement the receipts of the
Society, and by increasing the resources
and the revenues OF the Society, it would
give the means for the enlargement Of
the sphere in which we have been opcrat-
ing. Col. Thomas contended that the
joint stock project rested upon good
basis. Parties entering into it would
not be making contribution. They
would he making an investment. Pro-
perly, practically, eagaciously managed,
suoh stock would pny good dividends.
Such, at least, has been the case else
where. If men wanted an argument for
the pocket, he could give it, but he would
place the subject upon higher ground.
The State Agricultural and Mechanical
Society was great State institution,
connected with our pride, our hopes and