The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1871-11-09

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%sasfs aiss fssa ssis9 ston bss tiis
been Insignificant, and has been expend-
ed in the initial expenses of the society.
Qnr resources; are. therefore. limited to
the fuud from annual members, who are
tnrfact nothing more than purchasers of
season tickets to ,onr fairs. and to The
admission fees Of casual daily visitors to
the same. We have heretofore charged
nothing FOR exhibition of articles, stalls
Tor cattle, &c., nor do I deem it advisa-
BILE that we should; and We receive no
aid from the State. as former societies
have done. Thus practically onr re-
sources are comprised in the single item
of gate money. This tand, IN series
of well managed fairs, will, feel salts
hed, be sufficient for our expenses, espe.
ciaiiy il it can be taken to combine suoh
proper amusements with our agricul.
tural and mechanical exhibition as will
make the annually recurring fair an oc-
oasion for the social reunion of our peo-
pie. as we'll as OF technical instruction.
But for any single fair this resource is
certainly precarions. Bad weather, de-
pressed markets, or any other occasional
incident. may cut short our receipts at
the gate after the expenses OF q fair
have been incurred, aud leave for the
year serious balance against Us. Our
society is also, as has been already men
toned. uninoorporated. and heretofore
it has been thought undesirable to apply
for, charter.
Under this organization. your Execu-
tive Co@ mittee have, up to this time. in
each year, incurred obligations upon
their personal credit (the society as such
has money to an amount equal to at least
three-fourths of the expenses of the fair;
say $4,000 to s., coo, before the fair
gatea are opened. Their account of ex-
penditures and receipts during the week
cannot be made up until the fair is over
and the society has adjourned. If the
haIance is against us, it has to be pro-
vided for at once; and this calls for IN
advance of the amount by the com mittee
FROM their private resources, looking to
the soriety for reimbursement at their
next meeting, twelve months of.
Al our first fair. in consequence of the
life member fund, our receipts exceeded
our expenses by between $4,000 and
80, 0OO. This amount, as stated, was ex-
pended In necessary additions to the
buildings upon the fair grounds. At
our second fair. the balance was against
ns by about S 900, which amount the
Executive mmittee raised upon their
personal credit in bank, and paid. It
remains to be seen how the account with
this fair will stand. The deficit of the
second fair is secured. in addition to the
general obligation of the society, by the
Individual guarantee of certain spirited
members given in advance; but the Ex-
ecutive ommittee hoped that it could
be met without calling upon the guar
antee by the increased income from this
fair; aud to that end, they have sought
to swell the receipts at the gate, not only
by Offering to visitors the interest of an
increased agricultural and mechanical
display, but also such amusements as
are known to be popular; and. When
guarded from abuse. are, by an enlight-
ened public opinion, deemed unobiec-
tionable.
I have no hesitation in saying. that an
association thus organized and thus
working, must be short lived; and am
confident that I express the matured
opinion of every friend of the society,
who has given thought to the subject
Your present Executive Committee,
which has been substantially unchanged
from tne beginning, are convinced OF 1t;
and if the effort il to be made to con-
tinue as We have been doing, with una
bated interest in the objects and welfare
OF the society. they are compelled to ask
for relief by rotation in the responsibili.
ties of Office
This condition of our affairs was laid
before the society at it's last meeting, by
u report Of the Executive Committee, in
which they proposed a remedy, which
they then thought, and still think, will
meet all difficulties, and place our nsso-
Citation upoii az assured financial basis,
besides euabling it to extend it's sphere
of usefulness. I illude to the scheme Of
an auxiliary j"int stock association, with
capitnl sufficiently large to enable the
soricty to extend its operations, us we'll
as to give it IL reserved fund, from the
interest of which contingencies may be
met. This scheme Of nn nnxiinry nsso.
citation met with the approval uf the so
ciety, and Was adopted by resolution.
Committees were appointed to solicit
subscriptions; and it Tas further re.
solved. that the Executive Committee be-.
authorized to call Il meeting of stock
holders as soon US the amount of stock
t,lk sttu I =.