The times. [volume] (Richmond, Va.) 1890-1903, 1891-01-16


An adjourned meeting Of the stockholders
of the Virginia Agricultural and Mechan-
zeal society was begun in 'he rooms
Of the Bar Association yesterday
morning at half past II O'Clock. President
Ashton starke presided, and Mr.. Preston
holland acted in bis capacity Of secretary.
Among those present were Colonel John b.
Cary, Colonel Robert Beverly, Fauquier;
Major W. T. Sutherlin. DanviIie; Colonel
W. c. knight, Major Joseph Walker, Cap
tain O. A. Browne, Northampton; Messrs.
a Wexford Corbin, King George; Normand
Smith, Henrico; Judge X. NJ. Mallory,
Brupswick; Judge X. l.. Henley,
lame. CITY: Colonel Thomas White
head, J. Taylor Strstton, i. +. Camp
bell, X. 81. Gaines, Charlotte; Ever
stt wadday, Robert Hill, Jr, Henry
4. wickham, Chris Esensen, ). r. jackson.
{. L. Wing, 4; \; Cannon y, ~. T Tten-
shaw. George ID. Peasants, Moses Ihai-
timer. John Does. John III. DickersOn,
General Joseph X. Anderson, Stepher
Hunter. II, Clay Chamblin, George Lee, A.
m. Drewry. Frank Guy. Il. II. Gaines. y. v.
Randolph. Philip st. George Cooke, John l..
Branch, Thomas A. Brander. a. W. Cart er
Ar. Venable, J. Thompson Brown, Bed
Aibemarle; A. kOiner. Augusta: e. W. fai-
mer. saltyille; Il. r. Johnson and J0hn
Murphy.
Messrs. wingo, Guy and Gaines were
Amounted committee % ascertain those
,,resent and the number Of shares repre-
sented by proxies. They reported that
tbers were SOL shares represented. lbe
number OF life members present was larger
than in the history OF the society.
Mr.. John 4. Branch offered a resolution
At the last meeting Of the Society when no
quorum was present, consequently the res
olution came up yesterday as unfinished
business. The resolution. which was de-
feated, authorized the Executive Committee
10 mortgage the property OF the society IN
order 10 borrow money 10 pay oil the debts.
or, IL the committee thinks best, 10 sell any
part or all Of the real estate, pay the debts,
and reinyest the surplus IN other real estate
for the uses OF the Society.
General JOSEPH X. Anderson spoke IL
favor OF am, nding the resolution 80 as 20
invest whatever surplus In real estate ana
improvements for the Society.
Dir. Branch said that the Court had de-
cided that the property had 10 be sold TO
nav the debf. and unless the Society paid il
In ninety DAYS the Court would sell. and
that the Executive Committee could do
better. IN his opinion, than the commits
eioners OF the Court. That although The
commissioners would not receive pay FOR
their services be thought il proper for the
Society 10 attend 10 its own business.
INSTRUCTED TO BORROW.
Mr.. Branch reported for the Executive
Committee that at the last meeting that
committee had been instructed 10 borrow
the money, aLd advertisements had been
nut m the papers Of Richmond, New York.
and Boston; that limitations had been re-
oeiyed that the money could De borrowed
but as yet the money mad not been gotten.
In reply 10 a question Mr.. Branch stated
that the plan was TO borrow money on
mortgage of the property; that the Interest
would be paid by borrowing more than Il
actually needed and during the paN ment OF
the interest. 10 hold fairs or exposition
and make money to pay both interest ana
principal.
Of the Court be read. and Dir. siarke read
the same. the provisions OF which are wei
known TO The TINES readers.
Mr.. Cannon said that he could not see
in. any provision of the decree provision
10 sell all OF the property; lhat the Society
had only a right 60 sell enough TO pay tie
debts; and that the charter OF the company
only permitted the Society 10 borrow
$4,000.
MIR. $. Wexford Corbin. Of kim George,
said Il the Society can't borrow MY thou
sand dollars on property worth hundred
aud fifty thousand. the court should be per
mitted TO sell the properly.
s.Iet the ninety days EXPIRE he said,
''in trying TO raise the money. Not being
able TO raise sufficient funds reflects upon
the booming town Of Richmond aud thf
financial ability Of the city,"
FAIR NEXT FALL.
Major Gaines spoke in favor Of not only
fn ~ o. d
but sufficient funds TO enable the Society 10
hold an exposition next tall.
Major Yenable said that looking at the
matter from o business standpoint. the
charter permitted the society to borrow hity
thousand dollars; that such should
be done. for II would be very disadvan-
tageous 10 sell the property at present; that
IL the ffty thousand dollars can be borrow
ed the property can he held for three years,
and the property will almost double Itself IN
value; that in that time money Will be
easier.
Major sutherlin said that it occurred 10
him that all in the meeting wanted IN
same thing; that he wanted the debt paid,
but did not want to Kill the Society. lie OIL
fered resolution that the Executive COM
mittee be instructed 90 mortgage the prop
ertv Of the Society, 10 borrow sum OF
money sufficient to pay the debt of the So
ciety aud provide for the interest and pro
tect the property from sale for at least three
wears, aud that the Executive commute
be also instructed TO proceed at once 10
make the necessary arrangements Tor mold
ing State fair next flll and an eN osltlon
the following fall, and To which exposition
all the counties of the state shall be invited
10 furnish specimens of the products, min.
erals. &c, with the view TO applying ana
securing the cooperation and financial ana
10 transfer such contributions 10 the Column
bian Exposition at Chicago IN 1913
Major sutherlin made strong effort M
presenting bis resolution, saying that the
Society should transac. this matter M "a
business-like manner; that the State should
be properly represented at Chicago. ana bi
holding a fair aud then an exposition tht
result would be- attained.
General Anderson said that the resolu-
lions dealt with the question in wise way
and he gave 10 IL his unqualified approNdl
Mr.. w. &. knight presented "A substitute
for the latter part OF Major Sutherlin's reso-
luton, the only material difference IN the
two resolutions being that Mr.. knights pa
per provides for two eNpOsitiOnS-One TINS
year and one In 1892
INK OPPOSED IT.
Major sutherlin spoke IN opposition TO the
holding Of an exposition next fall. He said
that the time was too short, for the people OF
the counties must have time, and II you I'M
dertake 10 have an exposition next fall ana
one the following year both Of them would
be nondescript affairs, but TO have good
old fashioned fair this year, ana 10y 20 do
ing would instil greater interest IN the pe0-
pie Of the whole ) ate for an exposition,
Mr.. Branch said that the Executive Com
mittee had tried 10 borrow the money io'
over six months. and by That failure lht
suit was brought Major \. '. Randolph
said that the money could have been gotten,
the only trouble AT that time being that the
title Was not clear. The court has row de-
ciied. however, that the title is a clear one.
Question was called at 30, ana The reso-
luton OF Major Sutherlin was voted on
The reGolution, which was Il Substitute fot
Mr.. Bmnch's resolution, was adopted
Ayes, 30; noes, 4.
The vote was taken on laying Colonel
knights amendment on the table. IL was
done. AYES. IS; noes, :. A vote was then
taken on referring the remainder OF Mayor
sutherlin's resolution 10 the Executive
Committee. MIR. q. l.. Wingo before the