Daily Republican., 1881-01-27
KEHOBOTm BEACH Ass0CIAT'n.
Amcn dmenfs tO the Chertor-COn.
ditlOn Of the fIaances.

An adjourned meeting of the RehC
both Beach Associati0n was held las
evening to receive a report from a com
mittee appointed to recommend amend
msnts to the associations charter Tn
| report as adopted recommends that from
that portion Of the charter which de
clares the association formed for th'
purpose Of establishing a Christian
summer resort, where nothing shall be
permitted inconsistent with Christian
morality as taught by the Methodist
Episcopal Church, all reference to the
Methodist Episcopal Church shall be
stricken out; that the clause OF the
charter requiring that 20 of the assoei-
stion's directors shall be members OF
tht Methodist Episcopal Church shall
be amended by striking out therequi'e-
ment of membership in said church
that the Board of directors shall be re-
duced from 80 to Is members that the
portion of the report relating to ths is-
suing of certificates Of Indebtedness to
pay of certain mortgages be recon-
United.
All these recommendation will be
sent to the Legislature, and If the char
ter is so amended there will be special
meeting OF the stockholders to consider
.he amended charter and decide
whether the association shall work un-
der it. Some who favor the amend.
msnts feel very tfcklish over the posi-
ble action of the stockholders, and
there Is no little fear that pressure may
be brought to bear TO prevent the Leg
islature from amending the charter.
The financial statement of the sssoci-
alton from December 3, 1878, to Janu-
ary !, 1881, is as follows
Liabilities-Mortgags held by l. D.
Marten, dated Jan. l, 1873, $1,000, 90.
Mortgages given to Mrs. G. Msrten,
dated Jan. 1873, assigned to VIM
Bright, August 81, 1873, $4,000.
ortgages given to Mr.. Marsh, dated
Jan. l, 1873, originally for S3, 500, one
third Of which has been paid, leaving
a balance of 50, 1888 assigned as fol-
lows to William Bright, $l,9S3.33.
Mrs. C. q. B. Day, $35O.00. Note &c
VIM. Bright, s547.45. Balance ON note
to VIM. J. Hooper, 1923 81. Sundries
including county taxes due, $4,000
Balance on Superintendent's salary
$500. Total, $6,395.15. Available
assets-Taxes unpaid, 1896 Is. Bal
ancs ON purchase money OF lots, $l22
90. sundr:es, sG8 so. Balance in
Trsasurer's hands, 84.90. Total, 90,
10l rs. Indebtedness in excess o.
available assets, "a, 293 81. Missella,
neous-Amounts received by the treas
arer, not taking into account Insurance
money on hotel, burned in 1879 FoI
taxes from December 8, 1873, TO Jan.
!, 1881, 1856 IS. For baggage for
1880, $4,000. For rent ofcsmp ground
for 1880, $1,000. For license for 1880
$22 so. There are $50 lots sold. There
are 1872 lots unsoId, which belong &c
the association 4 OF these are Surf av-
enue lots, well located. There ar7 55I
lot holders.
Amount of tax Per annum on the
present assessment (at per cent.
| 81, 1900.
Since the report made in 1875, the
hotel which belonged to ths Association
has bsep burned; the insurance has
been recsived, and the money appro
priated to reduce ths debt,
The amount collectsble for taxes Is
sufficient to pay the interest on the
debt, the current expenses, and pay
oif a portion of the debt annually.