National Republican. (Washington City (D.C.)) 1872-1888, 1879-12-23
Not Indebtedness. .......

He then stated that what remained to do
was to take S37 900 moro worth of stock and re-
lieve the association from debt. He expected
that every man who had a share would take
another, which would of itself be enough.
He was sure 1t would all he taken by Febru-
airy. He wanted to see the stock scattered
about the city and not to see it all in tho
hands of few. But if the many would not
take 1t by the LIST of February the few would.
If the remainder of the stock already taken
is not paid in the stock will be cancelled The
only way to pay the NEUTRALITY-SUSPICIOUS.
$37, 00O-was to raise tho stock to 100000
Five thousand dollars he thought would COM
plete the improvements on the grounds, yet he
did not want to make any Improvements until
the Indebtedness was cleared. Judge Black
burn thought that If the stock was raised to
100000, $4,000 would be left in the treasury
with which TO make the requisite improve
| ments after the Indebtedness was cleared. If
tho proper interest is taken In the enterprise
they could clear off all Indebtedness and make
the improvements and declare dividend of
about fifteen per cent. the coming year.
Simon Wolf did not believe there was
stakeholder who expected to get fifteen per
cent. The Government only paid six per
cent. He would not have the stock
holders go out with their minds glowing with
in idea OF getting fifteen per cent He hoped
| that no committee would be appointed but
| that list would be opened In the meeting to
receive subscriptions, Mr.. Calf thought that
there was no doubt that they would mako
$4,000 next year. He considered the Fair
| Association great success. Mr.. Duncanson
moved that the meeting approve the action of
| the board of directors in increasing tho stock
| to 100000. The question was raised whether
| the board of directors had tho power to In
crease the stock. This question caused consid.
cradle discussion, but was finally disposed of by
the adoption of Il motion offered by Simon Wolf
| that the meeting concur In the recommen-
| dation of tho board of directors that the stock
| be increased to 100000, and that the board of
directors BIO requested to call meeting of the
| stockholders, in accordance with the charter
Of tho association, for the purpose Of taking
the requisite measures to increase tho sub
scriptions to 100000. The board was re-
quested to furnish to the next meeting plan
Of the contemplated improvements, accom-
panied by am estimate of the cost of making
such improvements. Mr.. Clagett called atten-
| ton to the ACCESSIBILITY of requesting Congress
to increase the number of the board of direc-
tors. He was convinced that 1t would be
better to have larger board. Mr..
A. X. Browne offered resolution
| TO employ superintendent, but the matter
was laid upon tho table. On motion of Mr..
Stephenson, tho board of directors were di-
| rected to apply to Congress for q change of
the charter providing for board Of eleven
directors instead of i've. On motion of Mr..
Clagett, it was agreed that when the meeting
adjourn IL DO until Monday evening, January
5, at Sheas Hall. On motion of Mr.. ]. Q.
Rock, q committee of seven, consisting of j.
O. Rock, William Il. Clark, n. A. Rover, J. s.
Edwards, Simon Wolf, Levi Woodbury. and
DIR. Thomas o. Hills, was appointed by the
chair to prepare constitution and bylaws
specifically defining tho privileges Of stock
holders to DO submitted at tho next meeting.
Seyenty-three now shares of stock wero sub,
scribed. Tho meeting then adjourned.
The meeting was very enthusiastic and har-
monious, and the deep interest manifested in
the success of the enterprise bespeaks glori
GUS career the coming season.