Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1889-12-04
STATE FAIR MATTERS.
A Meeting Yesterday to Consider the Pro-
posed Issue Of Stock.

A Meeting Yesterday to Consider the Pro-
posed Issue Of stock.
The Board Of Directors of the State
Fair Association met at the Court House.
yesterday afternoon, for the purpose of lis
tening to a legal opinion, as TO whether or
not tie Bosri could make an issue Of $25,-
600 Of additional stock. The opinion, it
is understood, was uniavorable TO the
issue, but no definite Information could be
secured as to its tenor or language, either
from the attorneys or Secretary Hook. The
latter gentleman said, however, the mvt-
yea would be laid befOge the meeting Of the
stockholders OF the Association, which
meeting viii take place the coming Ssiur-
day.
AT meeting held by the Board of
Directors early IN November, q resolution
was adopted increasing the capital stock
by So, 600. This was in response to a
proposition by Mr.. John NJ. Sweeney, to
place that amount of stock and furnish the
cash for it by about the first of the year.
For long time back the Association has
been DESTROYS Of extending the grounds by
buying the Lilly farm Of nine acres lying
west Of the northern half of the Fair
Grounds, and also Of making certain i'm
provements and additions, but IS a bonded
debt Of So 500 existed, 1t was not deemed
desirable to 20 ahead with the idea. The
Lilly ground being thrown on the mar
ket, however, forced the Board of Di-
rectors to act, and Mr.. Sweeney's prop
osition vas looked upon very favor
ably. Pending its acceptance,
question Of the legal right Of the Direc
'ors 20 issue the stock having been raised,
the matter was laid over until last Ssiur-
day, ard meanwhile the Lilly land wsV
bought in by Mr. Geo. Lennon for the
Assoc alton.
Saturday the MISTER was again brought
up in tie Board, by Mr.. Sweeney tender
ing draft for SIS $50, oue.four,h Of the
B25. Geo of the new stock, and said be
would have the remainder Of the money
By January 1Oth. There was quite long
discussion over the matter, which ended in
It's being referred to attorneys for exami-
nation as TO the right to Issue, and the meet
ing sdjournsd until yesterday, when the
report was read, as has been stated.
The present capital stock of the Associ'
atom is about SIS, 1000, divided among
shout three hundred persons, most OF the
stockholders holding but one share.
Last evening member Of the Board Of
Directors said;
ut locks 20 me as Though the attorneys
90 whom the matter was submitted were
not fully Informed as 10 the situation.
They seem 20 think it would beall right 10
issue additional stock and throw it on the
general market, hut would not be right to
hand the new Issue over to some one man,
thus making IL FOX his especial benefit.
Mr. Sweeney, am sure, is not acting for
himself, neither is he acting for any other
one geTson, but appears IN the capacity of
trustee OF SCENT for a number Of capital
lists who think they see s good thing in
the future Of Wheeling in general and Of
the Island and Fair Association in psrtic-
ular. I hope the proposition viii finally
20 through. Ii will be the biggest thing
NE bsve had here In Wheeling for many g
day