Los Angeles daily herald., 1875-05-20
OFFICIAL.
SECRETARY,S OFFICE,


| So. DIS. AGRICULTURAL SOCIETY OF CAL,
Los ANGELES, May 10, 1876.
| At the regular monthly meeting of this So
cety, held in this city on the Sd Of April, 1875,
and quorum being present, the following
resolution was offered by DR.. John s. Griffin
and unanimously adopted:
Resol,cd, That Nal. Ben. c. Truman, Hon.
| H. X. S.O'Melveny and Hon. +. A. McDougall
| do constitute acommittee with full power and
erence to raising the capital stock of the
| Southern District Agricultural Society from
$4,000 to s600t0, and from 500 shares to 600
| shares in q legal manner.
| And that said Cor'mt cause to be pub
lished legal notice to the effect that on GER
| tain day, at 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 fix the price
| of the unsold stock and report the same at
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, q
quorum being present, the following report OF
the above-named Committee was read and
| unanimously adopted;
| To tho 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
| said corporation required to be paid as soon
| as practicable, respectfully reports that by o
| vote of the stock holders at regular meeting
of the Society, the same in their opinion may
| be legally done.
| That upon examination of the Articles OF
| Incorporation on file in the Clerks office, as
| well as upon reading and examining the Con-
| stitution and Bylaws of the Society, there Is
no particular sum of money limited or speci-
| fed rs capital stock of said corporation; and
the only reference made to hat subject is SIM
ply resolution adopted by the Society and
recorded among its proceedings.
We are, therefore, of the opinion that no le-
gal obstacle exists to prevent this Society
| from increasing the capital stock of said Soci-
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 relia-
| BILE and correct, we report as the Indebtedness
which II is necessary to take steps to provide
| means for the early and prompt payment, to
| amount to the sum of about $40 900, and to ac-
complish that object consistent with the prin-
cples indicated in the resolution of the So
| ciety by which we were appointed, we re-
spectfully submit the follow Ing resolution, to-
wit:
| First-That the capital stock of said South
| ern District Agricultural Society be, and the
same is, hereby increased from s50000 to the
sum OF s600Oo, 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 each stakeholder as represent
| ed by the mber 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 stakeholder, ON payment to the Treasurer
Of said Society the sum Of thirty-five lS35.0O)
| 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 Sid
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 even n" shares of additional stock SO
| remaining un;.c 'epted by such shareholder
shall be sold in iiarate shares to any stock
holder who will bid the highest price therefor
| than S35 per share, The sale to be, after due
notice, at public auction.
Fourth-That upon these resolutions being
stockholders of the Society, it shall he the the
duty of the President and Secretary Of this So.
| ciety to issue anu del yer to each stakeholder
who presents the Treasurer's receipt OF the
payment of thirty-fve 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 thereofth the same is paid
In full, or If stakeholder of the original stock
| heretofore issued shall not desire TO take an
| equal number of shares of the new stock u
that held and owned by him of the Original
stock, in that case such stockholder shall bt
| entitled to such less number as he may desire
to accept, on payment of thirty -fve'dollars fol
| each share, and the residue of the shares ht
| 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 rescinde(
and repealed
BEN. G. TRUMAN: