Los Angeles daily herald., 1875-05-22
gus Anseles Aerala.
OFFICIAL.
sECRETARY's OFFICE,

ID.
Los ANGELES, May 10, 1875. J
At the regular month"; meeting OF this So
clety, held in this city On the Sd of April, 1875,
and quorum being present, the following
resolution was offered by DIR. John s. Griffin
and unanimously adopted:
Resolved, That NAL Ben. G. Truman, Hon.
H. X. S.O'Melveny and Hon. f. A. McDougall
do constitute acommittee with full power and
authority to act in all matters with direct ref
Southern District Agricultural Society from
$4,000 to S60,00, and from 500 shares to 800
shares In legal manner.
And that said Cor mittee cause to be pub
lished legal notice TO the effect that on GER
tain day, at a stockholders meeting of this
Society said proposition will be submitted to
the members Of this Society; and further,
That said Committee do ascertain the in
debtedness Of this Society and ok the price
the next regular meeting of the Society.
At the next meeting of the Society, held in
Los Angeles on the Sth day of May, 1875,
quorum being present, the following report of
the above-named Committee was read and
unanimously adopted:
To the President and Directors and Stockhold-
ers of the Southern District Agricultural
Society of CALIFORNIA;:
The undersigned Committee, to whom was
referred the subject of increasing the stock of
the corporation and ascertaing the debts of
as practicable, respectfully reports that by
vote of the stockholders at q regular meeting
of the Society, the samein their opinion may
be legally done.
That upon examination of the Articles of
Incorporation on file in the Clerks office, as
we'll as upon reading and examining the Con-
stitution and Bylaws of the Society, there is
no particular sum of money limited or speci-
fed as capital stock of said corporation; and
the only reference made to that subject is sim
ply a resolution a,dopted 3. BY the Society and
We are, therefore, of the opinion that no le-
gal obstacle exists to prevent this Society
from increasing the capital stock OF said Soc-
ETY. from five hundred shares to six hundred
shares, as Indicated In your late resolution in
the appointment of this Committee. Upon
the report OF the Secretary of this company
and corporation, which we believe to be rella-
bic and correct, we report as the Indebtedness
which IL is necessary to take steps to provide
means for the early and prompt payment, TO
amount to & the sum of about $40 Ooo, and to ac-
cples indicated In the resolution Of the So
ciety by which we were appointed, we re-
spectfully submit the following resolution, to-
wit:
First-That the capital stock of said South
ern District Agricultural Society be, and the
same Is, hereby increased from $50,000 to the
sum of $60,000, and that the same be divided
into shares of one hundred dollars each, and
that the aggregate number Of shares of said
stock is hereby fixed at the number of six
hundred instead of five hundred shares, as
heretofore authorized. =
Second-That eachstock holder as represent
ed by the number of shares now owned by
him or her, shall be entitled to receive of the
additional shares of stock hereby authorized
to be issued, one additional share of stock for
each share of stock now owned or held by
such stockholder, on payne Mt to the Treasurer
OF said Society the sum of thirty-f1ve (S35.00)
dollars for each additional share of stock SO
paid for, and on presentation Of the Treasu-
rer's receipt to the Secretary OF the Society
And such certificates ofshares of stock shall be
held by the respective holders as paid-up
stock in full, and shall so express on the face
OF the certificates of stock so issued, and in no
case shall he be liable to pay assessments.
Third-That in case any stockholder in said
Society now owning shares of stock, declines
to receive and accept an equal number of
shares of the additional stock to the shares of
stock now held and owned by him or her, IN
that event the shares of additional stock SO
remaining unaccepted by such shareholder
shall be sold in separate shares to any stock
holder who will bid the highest price therefor,
but no bid shall be accepted Of a less sum
than $35 per share, the sale to be, after due
notice, at public auction.
Fourth-That upon these resolutions being
ADOPTED by u majority vote, by ballot, of the
stockholders of the Society, il shall be the
duty OF the President and Secretary of this So
ciety to issue and deliver to each stakeholder
who presents the Treasurer's receipt OF the
payment of thirty-five dollars for each share
of stock owned by him, an additional share OF
stock under the seal OF this corporation which
shares of additional stock so issued shall ex-
press on the face thereof that the same Is paid
in full, or If stock holder of the original stock
heretofore issued shall not desire to take an
equal number of shares of the new stock TO
that held and owned by him of the original
stock, in that case such stockholder shall be
entitled TO such less number as he may desire
to accept, on payment of thirty-fve dollars for
each share, and the residue of the shares he
would be entitled to shall be sold as provided
in resolution No. hereof.
That all proceedings or resolutions hereto
fore adopted by this Society which are in con-
fiict in any manner with the foregoing resolu-
tions, be, and the same are. hereby rescinded
BEN. C. TRUMAN.
H. X. 8. O'MELVENY.
+. A. MACDOUGALL.
Upon the unanimous adoption of this report
1t was ordered
That the Secretary notify all stockholders OF
this Society that at the next meeting the ques.
tion of incseasing the capital stObk, in accord
ance with the foregoing report, will be voted
upon. and that all stockholders be notified to
be present at said meetings orsend their prox-
les; and 1t Is further ordered that all the pro-
ceedings be printed and mailed to each per-
son owning stock in the Society.
Now, therefore, l, James F. Burns, Secretary
OF said Southern District Agricultural Society
of California, do officially notify each member
of the proceedfngsin the premises and request
that they be present, either in person or by
proxy, at the e next ext meeting Of said Society,
room at the Fashion Saloon, in the city of Los
Angeles, on .
Monday, June 2, 1878,
At O'Clock p. NJ would also state, for the
benefit of those who are not residents of this
city that the Society has been offered 500 per
share for its unsold 200 shares, by one party,
and that another party has made still more
liberal offer for the land belonging to the So
ciety and not in absolute use. 1t was the
above propositions that induced the action in
of all stock sold, each member will please, If
he cannot be present In person, to send his
proxy to some member residing in the city OF
Los Angeles, with instructions how to vote.
mV2I 2t IAMES r. RIIRNS. Sacrafaru