Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1890-02-06
LIFE MEMBERSHIPS.
WHAT OF THEM WHEN THE EXPOSE
TION PROPERTY IS SOLD!
Tho House OF Delegates Wishes This In
formation-A Statement from Real
Estate-Agent Bowe.

In the House of Delegates yesterday Mr..
Kent. Of wythe, offered the following Joint
resolution, which under o suspension Of
the rules was adopted:
Resolred (the Senate concurring), That
joint committee of three on the part
of the House OF Delegates and two on
the part of the Senate be appoin.ea
to ascertain the status of parties holding
certificates of life membership in the pro-
perty and franchises of the Virginia State
Agricultural Society, and to what extent
the rights of said parties may be affected
by the proposed sale of the property OF
the Virginia Agricultural and Mechanical
Society.
REFERRED IN THE SENATE.
Mr.. Kent communicated the adoption OF
the resolution 60 the Senate. and the sub
ject was taken up for immediate considera-
tion.
Mr.. Lovenstein moved to refer to the
Committee on Agriculture. He wanted to
know what was the object of this proceed
ing. The General Assembly. in his judg-
ment. had nothing to do with inquiring
into the affairs of private concern.
Mr.. Hurt opposed this motion and favor
ed the immediate adoption OF the resolu-
ton. He thought the inquiry proper
one.
Mr.. Jones thought the resolution had
better be referred and maturely considered.
as il directed an investigation that might
entail cost on the State. This, he declared.
was q private corporation, and the Legs
lature was not called on TO conduct Its in
vestigations. II there were any grievances
the courts were the place to seek redress:
Mr.. Smoot favored the motion to refer
and 1t was carried.
PREPARATIONS FOR THE SALE.
Mr.. Bowe yesterday instructed the sur
veyor 10 survey the Expositlon-Grounds
and to make plat Of the same. projecting
Marshall and Clay streets throughit asweli
rs cross streets. and as soon as that work
is done the property will be advertised to
be sold at public auction:
I'VE propose, said Nr. Bowe, to sell
the ground that can be most readily dis
posed of first, which will be the Broad
street front. beginning ut the east end. and
thereafter TO continue the sales from time
10 time as fast as there is reasonable de-
mand for the property until the whole is
sold. The entire property will be dis
posed of. There is no prospect of any ac-
ton being taken by the Executive Commit
tee looking to the raising of the money in
any other way to pay off the debt OF the
society"
The entire property will be sold," it
will be observed.
DIVIDEND WANTED.
II is expected that the sale of the entire
Exposition property will realize about
$1,000 and this will leave large surplus
after paying off tho 540,0 debt. accumu-
latious Of interest, and costs of sale.
L. is understood that demand will be
made by many of the stockholders that
this surplus shall be returned to them. 1t
NAV he that in the Droposed legislative in
vestigation inquiry will turn in this di-
rection, and it it is known that many of
the stockholders wish it. SO far they have
not received anything at all-neither prin-
cipal. interest, nor dividends.
Whether it will be possible to make a
distribution of the surplus among, stock
holders is a debatable question. Certain
" objection will be raised against 1T by
those who hold that after the debt is paid
the balance must bereinvested in property
to be used for exposition or fair purposes.