Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1890-02-09

votes of 1000 or more fetme' aao LIZ
NAV %, 40 far rs TO think tnat these 49,
holders can sell the properly OF .ne ,oc'''f
nav its debts, and pocket Inc s Sr 11ssrSf
such views are seriously ~ tbs Hob Toned
a aud ' nnbiic-sp;rited citizens who have con-
. anh ~ tbo stock) the bill we are now
snsetinc Of NAV favor such action:
Ppatrrn;no IA the main question-the
,;t n, y,annbcss, status--I will say at q very
anrir nar;od in the life Of the society the
idea OF a permanent fund was adopted
and all payments for life-mempersnip cel-
tificates were carried 20 .nis ,uuu, Will
a~a we interests OF the State. Of which
sba intercst only could be used for current
expenses. By this process this fund had
80 the commencement of the war
@rown To about $4,000 invested
n virginia State registered bonds;
and Mt the close of the war the fund had
increased by tho amount OF ABOUT Sio,0oV
by reason of interest recelveo anu re-
Invested: but this last amount was repu-
d;atad unler the reconstruction acts OF the
Tinted States Congress. When the society
was reorganized after the. war the present
Hair C,roupds were purchased and I'M
nroyed by the sale Of the State bonds. The
Invested fund of the society now consists
alone OF the FAIRGROUNDS, which are va
riously estimated to be worth from Sl20,ooo
10 $3.50. 900. This fund, therefore, came
from the life-membsIsi, %1sh tine aAce bS
General p. ST. George Cooke and Nessrs.
Warwick and Barksdale. but the members
had no property interest in 1t, their life
privileges being their reward. Avalued az
we'll as responsible privilege was the
right to q seat and vote in all general
meetings OF the society which elected
officers. received and passed on their hnan-
cal statements. and in general way
directed its affairs. The constitution or
bylaws of the society fixed limited num-
Der as q quorum for ordinary business,
Int the invested fund could not
be disturbed except by q majority
vote of all the life-members. They
are the trustees of this valuable fund,
and it is their privilege and sacred duty to
see that it is perpetuated Tor the uses 70
which il was dedicated. The writer holds
n certificate Of membership in the follow
ing words, being a copy OF previous GER
tiicates with only the change Of the name
of the society by combining the words
agricultural and mechanical:
"This is TO certify that Colonel w. q.
Knight, Of Richmond. Va. is q llfe-mem-
Der of the Virginia Agricultural and Me-
chanical Society, which entities him TO
vote in all general meetings of the society;
TO hold Office, and to free entrance to all
general exhibitions of the society. together
with his wife and unmarried daughters. and
sons under twenty-one years OF age, and TO
exhibit without paying entry fees: The
holder of this certificate hereby pledges
his honor not to violate these privileges
under penalty Of forfeiture. This certlf-
cate is not transferable. and becomes void
at the death of the holder.
-, Witness the seal Of the 80
I II. 4 a.. otr,rn ~ N mr.
49, dent and secretary this Sd day OF
September, 1888. no.;so..
"a. r. VendbIe, Secretary"
The bill recently passed to authorize the
sale of the FAIRGROUNDS clearly. III the
face of my certificate, excludes me from
seat in the body authorized to accept its
provisions, for | am not a stakeholder:
and still more will it exclude other life
members who have not had the opportu-
nifty to exchange their certificates for those
provided for in the amended charter OF
the society which passed the General AS
sembly and was approved by the Governor
on the 9th of February, 1888.
1t seems, therefore, that there should be
some revision Of the recent legislation IN
Justice to thermometers, and to the trust
fund, designed to be permanent. which Is
pledged for the support OF the agrlcultu-
raj interests OF tne Otate, ana now, iOItu-
nately. grown to a large amount. All rea-
sonable safeguards shouldbe placed around
it, and certainly it should not be sacrificed,
as it NAV be. by the auctioneer who pro-
claims in his advertisement that sales will
be made without reserve. Unless some re-
lief comes it may be that the. life
members will be compelled to invoke
the aid Of a court of chancery in order
that the accounting officers Of the Vir-
einia Agricultural and Mechanical Society
may be compelled to render before com;
missioner of the court an account of all
money received and paid out, ascertain all
debts that are due and justly chsrgeablo
on the fund, and sale, if necessary, shall
be under the supervision of tho Court.
1t seems surely that the real members and
friends Of the society should not be driven
into such a tedious, expensive, and IN
pleasant litigation. ". G. KNIGHT,
Life-Member.
Richmond, February 8, 1890.