The record-union., 1891-06-10
EAST PARK.
Annual Meeting OF the stockholders
Last Niuht


Last Night.
The annual meeting of the stockholders
Of the East ParI, Association was held
last evening at tire office of w. P. Cole
man, President ST las Carle in the chair
and L. L. Lewis, Secretary.
The following report of the Board of
Directors was received and read:
The Board of Directors in presenting
an annual report to the stockholders Of
the East Park Association deem il proper
10 refer to CO Ertain facts connected with
the formation sIaG history of the corpora
ton in order that full understanding of
the present stu alton may be had by those
interested in tine property
AT the time of the formation of the
association it will be remembered that
this park, lying st our very door, and
most beautifully laid out, was about to be
cut up and utterly destroyed. A special
committee waited upon our leading citi-
Zens and about l07 contributed a sum
sufficient to purchase and preserve and
improve tho estate, the idea being that at
some future time the city would appreci-
ate the advantages Of place of this ma
ture, and our people would avail them
selves OF tt,es necessary aids to the comfort
and health of q life in Sacramento Soon
after the pIarchase it began to be evident
that littlelS public interest was felt in the
want of patronage, and to liquidate some
indebtedness incurred in the erection
of the improvements ten acres of the
realty we re sold at a low figure About
this time, also, some dissatisfaction was
created among the stockholders by the
circulation of rumors concerning the
original cost of the property and the crea-
ton of the stock, which, on the books,
showed an ownership of 225 shares of the
par val ne of 500 each.
I'm 1881 a lease was made with r. s.
Carey Tor the long period of ten years
one of the clauses of which provided that
regular communication by means of
horse-cars should be maintained by the
lessee, On account of a misunderstand-
ing of the terms of the lease regular ac-
cess by cars was soon interrupted.
Dissatisfaction occurred among the
owners, and some sold or gave
away their stock, and for a number
OF y sars the place was not kept in a cred
ltab fe'manner. The trees and shrubbery
however, grew handsomer each year, and
ii became evident that in a natural way
the place was an attractive feature for our
city. Realizing this fact, and knowing
th!ib Mr. Carey's lease would expire in
1904, few of the public-spirited stock
holhers waited on nearly all the owners,
ANA large majority signed an agreement
10 give the valuable property TO the city
of Sacramento, provided the Trustees
would agree TO maintain it in a proper
way for public uses. This tender of a
6 ift worth at least the price of the capital
i3Iock was not accepted by our city gov
ernment, and in consequence of failure
! . take advantage of the proposition the
effort to make il free public park failed
of success.
when the present board came into Of
flee we accepted the position with the
hope that by the time of the expiration of
the lease arrangements could oe made to
have more rapid and regular communica-
ton thereto and means devised TO add To
Its beauty and usefulness.
visit of inspection showed an inse-
cure condition of the main hotel building
and an unsafe condition of the bridges.
TO provide means to pay for necessary
repairs small assessment was levied,
which was most promptly paid by the
stockholders, and the collection of the as
sessment has enabled our office TO correct
the stock book and determine the names
of the owners Of the stock.
During the past year the hotel build
ing has been put in good order and thor
oughly painted. The bridges have been
made sound and other work done to i'm
prove the realty.
AS the time approached for the annual
meeting an unexpected transfer OF a large
block OF the stock prevented the consum-
nation of q plan 10 most certainly secure
1apid communication to the mark and
under the circumstances we thought it
hest for the future of the property to
secure from r. S. Carey contract to
so improve the driveway as 30 make it
,-sefnl at any season of the year, and to
e.nbpiIisll its borders by rows of the beau
tifnl fan palms. The lease is hereby
presented with the report, and should its
tau intent and terms be carried out we