Whig and tribune. [volume] (Jackson, Tenn.) 1870-1877, 1873-02-08

which to complain Of the learned |
professions, and far less use for |
leagues, granegs Of husbandry and !
other kindred secret associations.-l
These associations may overawe by |
their numbers, but they cannot per- |
manently effect the desired reforms
any more than one can succeed in /
stopping the spigot hole with bill
let of wood. We must sharpen and
polish by education and reading,
and then the leaks of which we COM
plain, are easily stopped.
On motion OF Mr.. Keith the Re
port was received aud adopted.
On motion OF Mr.. O'Connor the
Report was ordered printed.
The Secretary's Report being
called for, was read, and on motion
OF Mr. O'Conner, was received and
adopted.
The Treasurer Report having
been read by the Secretary, was, on
motion OF Mr. Robertson, received
and adopted.
The following series of resolu-
tions were presented by Mr.. Keith,
and after considerable discussion
were adopted:
Whereas, The net earnings of the
year 1872, amounting to the sum Of
81, 9ls 95, have been to consider
able extent absorbed in the payment
of past due debts and for perma-
nent improvements; and
Whereas, The total amount ex-
pended upon permanent improve
ments, reaches $1S,59O %, an ex-
cess of $3.50 30 over and above the
total Stock issued to date, and
Whereas, In view of the fact that
further improvements will be nee
essary, either to be provided for by
the issue of new Stock, by the issue
of Bonds, or by the expenditure of
prospective income, thereby making
it necessary to firmly establish the
credit of the Association.
Resolved, That we deem it expe-
dint that the Board of Directors
shall declare a dividend Of per
cent. in cash upon the par value of
each share of Stock, payable at the
Ofice Of the Association on the LIST
day of April, 1873, or for go days
thereafter. And further, that to
eqgaliZe the Stock so that there
shall be no discrimination if the
issue of additional Stock becomes
necessary, a dividend of so per cent.
in Stock shall be declared, to be
Issued by the Secretary upon de-
mandy in amounts of not less than
che half share, oh or after the said
lst day of April, 1873.
Resolved, That the Board of Di-
'ectors should make provision
either by the issue of additional
Stock or by issue of Bonds of the
Association as they may decide most
expedient for the purpose of COM
plotting the necessary improvements
to an amount not exceeding - dol
lars.
Resolved, That we approve the
recommendation of the President
that a suitable building for manu-
featuring purposes be erected upon
the grounds and furnished with the
necessary engine and shafting for
the exhibition of machinery at the
Fairs, and that the said building be
rented at nominal rent to such man
ufacturers as may use it for pur-
poses not Objectionable to the legiti.
mate purpose for which it is pro.
yided, with a view to the encour.
agement of such industries within
the district; the amount to be ex.
pended for said building to be in.
cluded in the above second Resolu.
ton, not to exceed - dollars.
Mr.. Tomlin moved the following
resolution:
RESOLVED, That the thanks of the
Association are due to the Presi
dent Directors and officers of the
Association for the efficient manner
in which they have performed theil
duties. Passed.
The election of Board of ninu
Directors for the ensuing year wa
next in order and resulted in tn,
election of r. B. Hurt, w. p. Rob
ertson, James O'Connor, Robt.
Chester, r. w. Andrews, J. NJ
Cartmell, John A. Tomlinson, NJ.
3. Exum, John Y. Keith. Adj
journed.
MEETING OF DIRECTORS.
AT a meeting OF the Director
held on February 4th, Robert 3
Hurt, was elected President, an,
w. z. Robertson, Hiram johnson
James G.. Reid, Walter Key, Johl
NJ. Withers, Vice Presidents. Banl
of Madison, Treasurer and Fisca
Agent, and Chas. w. Greene, Secre
tary.