Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1890-03-13
any part of $4,000 that may bc found
necessary 10 meet tho indebtedness of the

adjourned 70 May 30th. and again no QUO
rum was had. Another adjournment 10
juno 18th was decided on, and on that day
there was once moro no quorum present
SO little interest being manifested on tho
part Of the members and Stockholders. as
shown by their failure 10 attend the meet
ings. your committee saw that the burden
Of the matter was upon them, and that
whatever was 20 be done they would have
IL 90 do.
THE DRBr IA DuR on CONTRIBUTION ACCOUNT.
just here il is perhaps proper TO Say that
this indebtedness IS due wholly on con-
struction account. except $4,000, which is
IN one note endorsed by the individual
members Of your City Committee. This
note was given tomeot premiums duo prin-
cipally on county exhibits and in the to-
baccO, horse, and cattle departments. As
will he appreciated, these amounts were
due persons scattered throughout our State
and North Carolina. Your committee felt
that for the credit Of our State. city, and
the society itwould neyerdo 10 defer these
payments, and perhaps bring upon the So
ciety numerous suits AZ the hands Of these
creditors. Therefore. getting the builders
and machinists IN our city to accept nego-
table noios for the amounts due them,
though the burden Of all the work had fall
len upon tins committee, md its members
being amongst the largest subscribers 70
the stock of the society, they wore willing
TO 60 oven farther. and 40 made tins JOINT
note upon which to raise the money and
save the credit of oil concerned.
EFFORTS BEFORE THE CITY COUNCIL.
For reasons perfectly manifest, we
think, in which we believe we had the
sympathy Of a majority of the citizens Of
Richmond, your committee appeared seve-
raj times before the Finance Committee
and Council Of this city. They succeeded
in having the loan recommended by the
Finance Committee and passed by the
lower branch Of the Council. The matter
then passing TO the Board Of Aldermen,
yOur committee after being invited to ap-
pear wont before that body only 10 have
the measure defeated and themselves rude
ly repused.
ANOTHER ATTEMPT.
Your committee has TO confess under
the circumstances TO no little reluctance
in passing a resolution January 3, 1890,
which reads as follows:
RcsClccd. That the Executive Committee
OF the Virginia State Agricultural and
Mechanical Society, earnestly desiring that
the valuable property of this society for
reasons already mHde manifest shall not be-
sold TOR the payment Of lts debt, we make
this final appeal TO the Board of Aldermen
Of this city. that they will reconsider and
take such action a. will avert this Calani-
" to Richmond, and that the president OF
the SAID board Is requested to call meet-
ing at the earliest possible day TO consider
the matter.
SCANT COURTESY.
The above was duly transmitted 20 the
President of the Board Of Aldermen OF this
clty, but its receipt was never acknOw-
lcd0cd by any one. nor was an invitation
extended as ~ customary. 10 your COM
mittee to be present at the meeting which
We subsequently, learned had been held.
However, the whole subject had been
previously presented 10 that body IN every
conceivable shape, and the members OF
the Board Of Aldermen wore III full posses
sion Of all the facts.
Ii is needless 10 gay TINT the matter
asked bv your committee was defeated.
AsALE THE ONLY ALTERNATIVE.
There appeared no alternative other
than TO make sale of portion or the whole
of the property Of the society az might ap-
pear best, all things considered.
Another general meeting Of the society
was being discussed when the creditors
notified us that provision must be made
for the liquidation Of our Indebtedness, or
something looking in that direction, at
once, or suit would be Immediately lnsti-
tuted. ThcreupOn your committee deem.
ed II proper to make an advertisement OF
the sale Of the property TO take place on
March -. 1890, and ut the sEme time q
general meeting of the life-membeTs and
Stockholders was called for March Il. 1890
a. IL will bo seen one day before the pro-
poscd salc-your committee well appre-
ciating the fact that such sale must either
before or subsequently, have the ratification
of such general meeting.
RIGHTS OF IIFT-MEMBERs.
At this iuncture William G. knight, Ro-
bert Beverley, and q few others, hie-mem-
bers, raised the question as 70 the pro-
perty rights Of old litc-members- a dues;-
ton which could have been As well raised
years ago, and one which has not been
brought about, or the status of such men,
bcrs changed 10y Gnv action of this COM
mittce either taken or proposed.
INJUNCTION.
Through this question thus raised they
| have obtained at the hands Of the Chancery
| Court OF Richmond an injunction pro
| bihting the sale Of the property Tor the
prcseut. Your committee employed cOun-
| sci TO represent tho society but made no
| objection to the injunction. because since
questions ~ 10 the status OF litc-mcinDcrs
| and the liability of the real estate OF the
society for its debts have now been raised,
| the Court must settle them before any one
b
pcrtv
/ .icc to itself in the light of facts To say
that the members who have now raised
! this question have known the same doubts
TO exist in their minds for years past. Yet
with their appreciation IN lS92 the clty was
/ asked 10 make u loan of SjO,OO0 10 the So
/ cictV, and the same was ahected 10y the go
/ clrtv. giving what was intended and un'
] , L.. 1,tI Ing6
| unncumbcred property tosecure the same
/ TIE RECORD
/ Indeed. rs far back a. November J, 1876
| n general meeting authorized the EXecu
/ tive Committee 10 issue bonds Tor 5,OOD
and secure same by mortgage OF It's pro
uertv or "to raise the money IN any othel
/ way that they may deem proper.
| The Executive Committee had previous,
! lv sold bonds owned by the society and
! applied the proceeds 70 the reduction o'
! its debt, and IN 1852 before obtaining the
/ loan from the city the society had author
! lied "A mortgage on its property when was
nrepnred hy j. 4. Jonos. ESQ. to secure Al
! old debt of SIS. 900. and the further sum o.
! Sqm2.O5 borrowed from Il. ii. Dulaney OF
! The 18th day of January, 1882, which sum
we're finally paid out of the money Loaned
! bv the city OF Richmond.
! BEFORE THE LEGISLATURE.
subcommittee, consisting OF tn
President and Nice-Prcsldents Bui0rd anc
| Branch. OF this society, appeared by INV
tation before committee Cf the Nlrglnl'
Legislature, which it wouldappear had beer
appoiuted 10 investigate the status on th'
/ life members of this sOciety-a question
which your committee submits belongs u
the courts alone.
Before that committee of the Legislature
| Ne.srs Knight and Beverley were urge
not 10 thrust this matter INTO the court
ON account of the heavy expense to th'
society and tho complications whicl
mieht arise in chancery proceed
ing, but these gentlemen were no
Wiling to leave the adjustment oi IN
matter 10 the meeting called tor Marc
10Th and pressed the matter before IN
Court, so that now an injunction has Dee
awarded and the society must take sue
stems as are found necessary III the prem
ises.
THE TITLES.
As before stated your committee deeI
Il useless TO oppose the motion for an II
iunction. for If set aside the titles nave pee
niaced i'm such shape by the action OF thes
p"rt,es that no ono would be willing I
iInaL "a Durchase Of the property until I'M