The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-08-21
GOTHAM AND THE FAIR.
FIRST MEETING OF THE FL
III NANCE COMMITTEE.

,++aodance-J. FlefFepOi' 4AO4 H
- Edward simmons Chosen
-.-.as,,rar-samueI D. Babcock the
permanent Chairman.
xrw YORK, Aug. 2O.-Eighteen OF the
q .-..tr-fve faanciers selected by Mayor
C.ont - comprise the finance committee OF
- lids fair attended an inaugural
III .;n- held tais afternoon in the mayors
-. Millions Of money were represented
-. Gathering and the unanimity
= fo,ling was very encouraging
80 Mgvor Grant, whose face depicted
-. .nrija he felt. The following is list OF
,Lo freolbers Of the committee who at
.uo | "a r,anv of them having come from
& their country homes to lena taeir pIes9llco
4 - tbe meeting: Jay Gould, Jesse
1 G,Iirmon Eugene Kelly, August Belmont,
q cags7nai D Babcock, Calvin S. Brice,
tyaiiam 7. Bull. John II. Inman, Robert
3 w. Ian R~cksfeller. J. Edward Simmons,
i CSsriG, Stewart Smith, president OF the
Spamber of Commerce; Oswald Often
& Ter editor of the StGdts-Zettung:
Frsdarick A. Kurscheidt, John McKesson,
i .lr Henry B. Hyde, president OF the Eqult-
sble Life Assurance Society; Herman DEL
j richs aud William Stelnway.
MAYOR GRANT ELATED.
The proceedings were opened by the
4 ,oavor He expressed his thanks for the
sunport and encouragement given to the
s. ob1act in view by the attendance he wit
0essad Bv oversight he had omitted to
n nlace on the committee the name Of one
gentleman eminently fitted to act thereon
s. J Pierrepont Morgan. Mr.. Ottendorfer
& Mt once offered to resign in favor
81 b,,K vuOt11i
8 be listened to BY the other members, and
B motion to increase the number of the COM
d miuee TO twenty-six by adding Mr.. Nor
gan. was carried at once 1t was next pro-
q posed that the committee organize by the
selection Of a permanent chairman, and
August Belmont offered the name of Samuel
81 L. Babcock. His election followed by a
unanimous vote.
ACCEPTS THE POSITION.
He relieved Mayor Grant, and addressing
the committee said that the honor which
had been conferred on him was as unex-
pected as it was undesirable. Still he would
81 not let MS disiuclination to act sway his
action. He would accept, and in doing so
81 expressed the hope that the deliberations of
the body would be as pleasant and unani-
nous as were the deliberations of the COM
mittee on the plan and scope of the late
centennial on winch ne had served during
its existence.
The next business in order was the selec-
ton OF treasurer, and j. Edward Simmons
was chosen by acclammatiou.
President Smith Of the chamber of COM
merce suggested the appointment of sec
Tetary ami placed in nomination George
Wilson, secretary of the chamber.
Mr.. belmont thought there was no neces-
slty TO appoint secretary at this meeting,
and offered an amendment providing for
tle appointment, instead OF an executive
committee, which committee, he
thought, should select the secre-
Iary The proposition was discussed
q and Mr.. Smith finally withdrew his motion
and joined in the one for the appointment
OF an executive committee, which was
thereupon adopted. Being informed that
the duty OF naming the members of this
committee would devolve upon him, Chair
III man babcock, alter brief consideration.
announced as such: j. Pierrepont MORGAN
CHAIRMAN, August Belmont, Villa m III.
81 4ahderblt, Charles Stewart Smith and
81 JoAn II. lnman. Mr.. Vanderbilt has notified
81 .ne committee Of his consent to act. but he
Is at present abroad.
81 NECESSITY OF BAIsING FUNDS.
81 :. lneSe prelimlnaries having been attended
Nr' oeigman made an address in which
.a. ououuseleu prompt action in the matter of
f,i iuIIs Une FUNDS necessary for the success
lut carrying out of the great event He
sis ssigdi,IVed do1 plan in which he assumed that
Sao,VgC'VVO would be necessary for the un-
SFSa%iking' SFa,ih The method by which this
he ''II ta,, pe acquired. he stated, should
wav ''Hou s Loid OF IN a business
nosaib1o anu pe made as simple as
poSsIole A company should be orpanizsJ
y issue stock to the amount meeti1naS
%tlcn STOCK would command 9 per cent
Vsa, w V auu 0e 0e guaranteed by the city of
V% to oo.. l oIk. The city should be authorized
cf 1ouille am 4 thlS responsibility by the passage
t5o a4 ocV 10 mat end at the next session Of
evorao. aVa'e legislature The stock should he
be blpc osi,oi rom all taxation. Congress should
scbe,1o aoAeu 10 give Its hearty support to the
tba 'sto stDo5. al ts session in December. When
asked ~ stIb 40 III S5hape the people should be
into aS W % suo. IG;rloe, aud the stock be divided
mhlc c,annaIr S,iiali as $40 shares. When the
h 'S,J ~Nh generally have had an opportunitv
subscribe, the remand r of The ST ,cL
market Siii' ooulo md a ready
'h4ABU RSEMENT OF THE CITY.
ope,tas ta nlS plan pa Mr.. Seligman considered the
bursed y a. nG" t, the city should be REIN
would n,t;,n.4II tnIs point he said that the city
the buidinir..'a'. .eIy "ecome the owner of al
IA Of what VII ygiiki l erected. He placed Tie figure
Z Tms % ooo and the rentals at s1 500 200 V
CHASING hssnoOOv,VOG would be devoted to mr.. mr..
par. ub; o.ocK at 5 per cent. abova
@ 00O ou+'tI "ntc4 would leave S6 000. ;.
been ina",a.-iNlihg when the fair mad
Income 1,l'rs frS' ufated, He pleced the annual
he rega+do -ioi' ID admissions at $500. 900. which
bedeYotej a. 4S d. a low calculation. This could
dividend ~ ~ Ihe payment of a Der cent
Voted IA - ",.u what remains would he do
Of the stool. toll!eeLnlng the second instalInent
*5 stock woyia i1 at Il0. In twenty wears nil The
man ssSoa outu nave been retired Mr. SaIir.
for consiiarata.I .naI MS plan be simply received
This rIa,, a.t.lon, and it was So orda,.oJ
Received ~ "a others submitted and tn he
commtts,o" Will be presented to the executiUo We
the seece, VINO will be asked to 80 49,
Issue tbon, tb,,on OF the most feasible an
] |s7 These narnnLi r,n IA printed pamphlet form,
tAe nemb3rIe nboIIeIs @ VIII be distributed among
Subsequento,ns ont! ol the whole COMMITTEES for
that each of > - et.eslaway'S motion it was votad
c0nmittee tw,enty-six members of the
hediate erra.Jsibe r9aoscfibe 500 to meet the inn.
ward the cn,,,-retS, aud Immediately after
oqncement 'i1IiITee hL VT heartily cheered an an
lad In bis ba - Chairman Babcock that he
W the New WI. d cneck S, for $4,000 donated
s. Mere s'le1t Smith of tho Oh,
81 future ouered the use of Ner the nI 1I com
fe- was aseetlngs Of the connittaa onainDer TS for
nittee Will accepted and the eTecI,+i,,o ne Oh
afternoon nold meeting there tonrr oo-
D. 0uffalo's Disas+ro-------