Daily Los Angeles herald., 1884-01-18

benefit Of the association. The follow
ing resolution was offered by Mr. Hol-
lenbeck and unanimously adopted
'Resoired, That this meeting elect
three trustees, to whom the park grounds
in Section 7, I. 2 s., r. l3 W., shall be
conveyed, in perpetuity, by deed in trust
for the shareholders therein, with power
to lease the same; and, further, to whom
also the one-acre lots. as shown on said
maps and numbered or lettered thereon
from A to 7 inclusive. shall be conveyed
by /. N. Moore in trust, with power to
sell for the benefit Of the District Agri-
cultural Association No. 0, at such time
and prices as may be stipulated and
agreed upon by the three Trustees and
| five shareholders as committee Of confer
ence, appointed by the chair, to act with
the trustees in, for and on behalf cf the
shareholders in arranging the "details of
the trust, the money for the lots to be
expended in improvements
Messrs. w. J. Brodrick, William Fer.
guson and Il. L. Mayberry were elected
said Trustees, and the meeting appointed
J. Kuhrts, A. Denker, L. II. Workman,
VIM. Smith and l.. j. Rose as the Com
| mlJtee OF conference.
So far everything seemed clear and
definitely defined, leaving no opportun-
ity of mistaking the true intent and pur-
pose Of the shareholders. This was the
last meeting Of shareholders, al thence
forward the business devolyed on the
directors.
At meeting held July 81, 1881, ]. M.
Griffith resigned the position of Presi'
dent, and +. J. Barretto was uuanim-
ously elected TO the position for the re-
maindor of the term. At the annual
meeting on December 23i Mr.. Barretio
was re-rlected for the ensuing year.
ct meeting cf the Directors held
on Sep enber 5, 1881, the names of tue
trus. deed Tiu-tee- we're repeated iu the
following orl,r, entered OF rscord:
''On motion, il was ordered that when
Mr.. Gias sell makes out the trust deed
from l. N. Moore to William Ferguson,
W. j. Broderick and E L Mayberry,
who were appointed Trustees by the
shareholders at their meeting on the
fifth day Of March, 1881, be include in
such trust deed the four unsold shares,
conveying said four shares to F. j. Bar.
retto, President Of d strict Agricultural
| Association No. 6, in trust for the snare
holders named ia said trust deed
At a meeting Of Directors held on
August 25, 1881, the following order
was entered:
"On motion, the Secretary was in.
structed to furnish A. Glassell with the
names Of the subscribers and the num-
ber of shares each owned for the pur-
pose Of drawing trust deed
Again, on September s. 1881, the fol.
lowing repeated order was entered of
re ord:
Upon motion, it was ordered that
when MIR. Glassell makes out the trust
deed from /. N. Moore to William Fer
guson, w. J. Broderick and e. L. May
berry, who were appointed Trustees by
the shareholders at their meeting on the
fifth day of March, 1881, he include in
such trust deed the four unsold shares,
conveying said four shares to +. j. Bar
retto, President of District Agricultural
Association No. 6, in trust for the share
holders named in said t.ust deel."
At the annual meeting. December %,
1881, Mr.. Lichtenberger took his seat
as member of the Board of Directors,
having been appointed by Governor
Perkins, by request of the Board, to sue
ceed Mr.. Griffith, who desired to be re-
lieved.
1t appearing at the beginning of 1888
that there was unnecessary delay in the
preparation of the trust deed, at meet
ing of the Board of Directors President
Barretto, on motion, appointed com.
mittee of three. consisting of Messrs.
Hollenbeck, Niles and Childs, to procure
the drawing up of the document in con-
formity to the direction of the stockhold-
ers, and have the same properly acknowl-
edged by 1. n Moore. Messrs. Hollen-
beck and Childs delegated Mr.. William
Niles to have the instrument drawn, the
conditions and provisions having all
been agreed upon in the Office Of Messrs.
Glass, Il, Smith L Patton, attorneys; the
| deed to be submitted to tho Board Of
Directors for approval before being re-
corded. Soon after a memorandum Of
cond.t ons was taken by Mr.. William
Mics to Mr.. Patton, to be embodied in
the deed; that gentleman protested that
the conditions were different from those
agreed upon, and asked for the former
agreement He was assured that the
last memorandum was for the document
required, and it was insisted upon that
the instrument be drawn: as it came
from member of the committee the deed
was prepared; but Mr.. Niles was at that
time expressly informed that it would be
necessary for all of the grantees named
in this deed to formally accept the
same.
Mr.. Moore having been fully advised
of all the facts in the premises, and
knowing the expressed intention of the
stockholders. and having personal ac-
quaintance with all the members Of the
committe. signed and acknowledged the
deed as finally drawn without reading it,
confident that everything was right and
proper. Without further consultation
with the committee or reference to the
Board of Directors, fraudulent paper
was placed on record, which had never
been accepted by any of the Trustees,
| except probably Mr.. Niles. 1t is
presumed now. after the extracts
from the records and official data con-
cerning the trust deed intended in the
multiplied form presented in the forego-
ing that it is fully understood by the
reader. But on page l43 Of book SO of
deeds. in the County Recorders office, is
an instrument of quite different i'm
port. so much SO that the whole charac-
ter Of the transaction is changed, and
the park property. worth at moderate
estimate $40, 900, is subject 10 pass into
private hands. The deed is not to Trus-
tees, but to the individual stockholders,
as tenants in common, in proportion to
the number of shares owned by each in
undivided condition for the purpose of
holding agricultural fairs, for the term
twenty-five years from the 18th day of
| April, 1882; to be managed and con-
trolled as majority in interest may di-
rect. The Recorder certifies that the
deed was recorded at the request of VIII
liam Niles, who held at the time it was
made ten shares of stock. Under that
instrument the Board of Directors have
no recognized existence, only occupying
the park grounds by sufferance, and the
| will and intent of those who subscribed
and paid their money to redeem that
valuable property are entirely disregard
| ed; with what object the public can
readily conclude. Twenty-Five years
hence the grounds will be in the heart
of the residence part of the city, and
some active person, with an "eye to the
uiauu Chducc, Will Aoiu uuJOftty VI
the stock, and by limitation the park
has served its full purpose.
The deed above recited was recorded
on tho 18th of April, 1882, and its con.
tents soon became known. At meet
ing of the Board of Directors held May
4, the matter was fully considered and
| the attempt to defeat the will of the
stockholders plainly discussed, and the
following entry made on the records:
"0n motion of Mr.. Hollenbeck, the
President was authorized to appoint
committee Of two to take to Mr.. Glassell
the minutes Of the proceedings of the
stockholders of March 5, 1881, also the
deed made by l. N. Moore. and ascer-
tain what legal remedy there Is for the
committee to make it in conformity with
the action of the stockholders in the
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