The times. [volume] (Richmond, Va.) 1890-1903, 1890-03-13

Life members ........... ....-.-.... i''''
5,52j
Majority Observation-Disclosures. 2,7CS
Present by proxy. including stock Of
the city of Richmond ............. o-V
More than a quorum
MIR. slARKE's REPORT.
Mr. starke submitted the following, which
was read: 1880. a..
Virginia state Agricultural and Meehahi-
cal Society
Attbe annual meeting OF your society. held
March Z. 1888. the present officers ana t.e
executive Committee OF the society, WIZ
those exceptions caused by designations
and oNplmtiohs OF Terms 81 90i''
section 70. article states tat the election
ofoficers shall be held "at such times as tiie
Executive Committee may dcslsu"'' u"i'"
rhe term of office Of the present officers not
having expired until January /, loSu since
which time there has been no exhibition
Though several meetings Of the society nave
been called and held, by common consent the
present officers have held over.
A orcat number ofmcctings Of your Exec
utive Committee have been held during the
uasf wear, and the minutes OF those ~ Mhlci
matters worthy OF note were discussed ana
disposed Of have nctn uuiy itcOlueu. $780,,
III was found difficult 10 secure the attend
once ~ those members Of the committee re-
siding ln the rural districts, their pressncs
the large number Of meetings being atiendSu
with such loss OF time ah1 inohtS .n l, nv W
being no provision for deirayine tnelr eA-
prus.s ON luch n, lroS, RESOLUTION WHs
adopted an a meeting az when We're pIeseut
Nes-rs Starke, Anderson, buloid, bianch'
Williams. pupuy, Lyman, Myers, ana SAFE
a. ..Pcsoived. That the city members OF this
committee Doe constituted subcommittee
authorized 10 transact all business, &c.
Though this resolution put the business on
mo executive committee in the hands OF the
subcommittee, several meetings nave beeh
held AT which the entire committee was re-
oucsted To hc present but we were not aplc
~ secure the attendance Of the country
members.
1, fine snrinn Of 1855 70 was decided TO hold
n great Exposition in the iall OF thai year
me undertaking involved such labor as not
one Of your committee ever contemplated.
PROMPTED By q desire 10 do great ana
needed work Tor our state ana people, ana
though the labor and time required We're 80
GREAT ,yn gave ID choofiully. and were made
10 feel compensated since the virginia Expo
sitirn. which began october 30 ana closed
November u, lsos. was pronounced 2 sig M
succoss-a revelation 20 the world ana 10 our
own people IN the display Of Nirginias re-
sources and her material wealth.
BUILDINGS.
We entered upon the work with only the
grounds Of the society, upon which were a
few dilapidotod buildings wholly unnt FOR
The purpose of Am exposition. 10 may tfuly
( be said that We had 10 begin at the begin
ming To-day the grounds aud the buildings
thereon, as was the tXp sitiOn held therein,
are "A credit % the State and those VINO con-
tributed TO the enterprise.
An exhibit Of the property OF the society
since the Exposition may be shown as FOL
lows: AS has been stated, we tooh me
grounds simply with wotthless improve
inents thereon. The society was IN DEBT 10
The city of Richmond TO the amount OF $780,
OOO and two years interest, and further
outstanding debt OF $500. making total IN
debtedness of $4,000. We have had the
great Exposition, with all The benefits feaped
IherefrOm, and It's advertisement OF this
state: and to-day the society holds her
grounds greatly enhanced ln value on "c-
cOant of the Exposition, with improvements
thereon which cost actually SIP, ll3ls,With
n debt now Of 531,972.54. Since the time oil
making up the statement IN becemDcf.
lsss-indecd, in the past thirty days-the
payments of the notes due by the Basket
due IN Them. amounting 10 S3,09I -, ana 10
this amount the indebtedness has been re-
Inis debt. however. viii be increased by
the action Of certain lifc-mcmbcrs who have
recently sued out an injunction against the
society.
A FINANCIAL SUCCESS.
We hold that, looked at from bushes.
standpoint, the undertaking was "a financial
success and 10 was remarkable that such
should have been the result. when leeS
seems 10 have been disastrous year 10 such
enterprises throughout the lana. causing IN
every instance, even where backed by Gov
eminent Aid. deficits running up 10 hundreds
ofthous lnds OF dollars IN the experience Of
other cities.
the Exposition. November 2lSt, and IN tins
time an of the outstanding obligations had
10 be paid and an debts due the society coll
iocted, q statement of the financial condition
OF the society was made up. Taking into cOn-
elderatlOu the Nastnehs or the Work ana the
multitude of accounts. II was wonderful that
Secretary Nenahlc could have presented as
he did December 10th following less than
one months time. q full statement OF ac-
counts with balances brought down ana
every item Of dishui semcnt IN his once ans
in that OF the directof-senerai. ceI'ined py
double vouchers; nothing less than The ad-
mirablc system of accounts Kept could haVe
enabled him % have done as much.
This statement showed "a deficit In 0Naila-
bic money TO meet the obligations Of tie so
cieiy OF S3S,OOio3
LOOKING FOR A LOAN.
Under the provisions Of the charter your
committee was anxious TO ascertain cham
mel through which 10 could negotiate loan
10 the society of an amount equal 10 the de-
fcit before calling general meeting OF th'
society II having been found that there
was "a deficit. Immediately general meeting
WINS called for December 10, lSeo. Tho re-
cords show that there was no quorum pres
ent in response TO this call: the meeting was
theroupOn adjourned To January 10, -looo
Again no quorum was present, though peioio
the members then assembled the president
read his report and stated that the financial
statement, which was your commuters re-
pOri, was ready when there could be meet
ing TO consider H. Again an adjournment
was voted until April lOth. ana sgaln mo
quorum was present though the financial
statement. your committees report was lniil
before this meeting. This meeting was adj
Joufned until April 2Oth, aud by eNlfaordi-
nary effort and a cany0ss.fOr proxies, msei-
Ing with a majority Of stock represented was
secured on this last named day.
PROPOSED MORTGAGE.
AT this meeting 70 was resolved "that the
executive committee be authorized TO Lee
gOtiatc loan and 10 this end mortgage the
property of the society 20 the amount OF
any part of 100000 that may be found ne
cessary % meet the Indebtedness OF the So
Your committee finding Il impossible 70
negotiate a loan ON account tits inaoility 10
guarantee the Interest, general meeting
was called for MAY rs, al which no quorum
Was present. This meeting was adjourned 10
MAY 80. and again no quorum was hsd. An
other adjournment 10 June z was decided ON,
and on that day there was once more no
quorum present.
80 little Interest being manifested on the
part Of the members and stockholders, as
ings. your committee saw that the burden
OF the matter was upon them, and that
whatever was to be done they would have 10
10 do.
DIBr DUB on CONSTRUCTION ACCOUNT.
just here II Is perhaps proper 20 say that
this Indebtedness Is due wholly on cOnstruc-
ton account, except $780, 900, which Is in one
note endorsed by the individual members OF
your CITY Committee This note was given
10 meet premiums due principally on county
exhibits and Ina the tobacco horse. and cattle
departments. A. viii be appreciated. these
amounts were due persons scattered through
out our stale aud North Carolina. Your com
miitcc feat that for the credit OF our state
city. and the society II would never do 10 de-
fer these payments, and perhaps bring upon
the society numerous Suits al the hands Of
these creditors. Therefore, getting The build
efs and machlnlsts ma our city % accept ne
gotHblc notes for The amounts que them
though the burden OF all the work had fallen
upon this committee. and its members being
amongst the largest subscribers TO tho stock