The Providence news. (Providence [R.I.]) 1891-1906, 1892-03-02
PROSPECTUS ACCEPTED.
What the Rhode Island Industrial
Exhibition Will Be.
The CAPITAL STOCK S3OO,OOO.
The Plans for the Proposed Building
shown at the Meeting Last Evening
A Committee VIII be Appointed to

The executive committee Of the Rhode
Island Industrial Exhibition accomplished
considerable at the meeting at the Nara
gansett Hotel last evening. The plans for
the proposed buildings on the site Of the
old State prison on Gaspee street were
presented. the prospectus was read and
accepted and Chairman Fletcher was in
structed TO appoint n committee Of three
to apply 10 the General Assembly for the
land needed for the proposed building and
also 70 appoint committee of ten TO so
licit the donation OF 5000, 900 which il was
thought best to raise before the $500, 900
worth Of stock was offered for sale.
When the routine business had been dis
posed of David NJ. Thompson was called
upon the prospectus of the organization.
The charter, Introductory To the prospec-
tus provides for the incorporation of the
Rhode Island Industrial Exhibition for
the purpose of establishing and maintain
ing in the city of Providence, in said
State. n School of Industrial Art and Per-
manent Exhibition, wherein may be rep
resented the various manufacturing and
industrial processes carried on within the
the State OF Rhode Island and the prod
ucts resulting from the same with the
view OF increasing the skill of the citizens
Of Rhode Island in the various technical
ity OF the State. aud for the transaction
of other business connected Herewith or
incidental thereto. The capital stock
shall not exceed 100000 which shall be
divided into shares of S. each.
The establishment of the proposed
Rhode Island Industrial Exhibition, il is
confidently believed. will contribute
toward the advancement of the material
interest of the city of Providence and all
other cities, towns and localities within
the state, far more than any other means,
and will exceed the reasonable expecta-
tions OF its most ardent supporters. The
conditions are such as to justify results
that can nowhere be surpassed and rarely
equalled.
LAS provided in the charter, the capital
stock IL limited to the sum of $500, 900, TO
be divided into shares of $5 eacn. Ii is in
ten~led by this means To be placed within
the reach of all of the people whose interest
and support it is deemed important To
secure. The plan contemplates the ac-
QUESTION OF the lands of the old State
prison site, north of the Cove land on
donation from the State for permanent
and personal use for the purpose herein
named" IL is also proposed and made a
condition upon which all subscriptions to
the aforesaid stock will be subject. that
donations of free contributions shall be
made TO fund, which shall be equal in
amount to two-thirds of the capital stock.
the capital stock and the donated fund TO
amount TO the sum of 100000, or in the
ratio of GO aud 40 per cent. respectively
IT Is also provided That the subscription
TO the stock and the contributions 10 the
donation shall not be binding until the
full amount of the stock and the fund shall
have been subscribed
The prospectus concludes as follows.
In view OF the approaching International
Columbian Exposition at Chicago in 1893.
the present is regarded AS a most oppor-
tune time for undertaking the work here
in proposed. The interests of the State of
Rhode Island are such as to Justify the
greatest possible efforts of its citizens, To
secure full and complete representation
OF its industrial products at Chicago. The
advantage To result will far exceed the
cost and trouble which may be involved.
To the end that the largest possible
measure of benefit may accruevo o our peo-
pie, 1T is hoped that early and careful con
sideration of this important subject may
be given, since il may be found desirable
TO transfer the exhibits ut the close of the
Exposition ut Chicago directly into the
new buildings OF the Rhode Island Indus
trial Exhibition at Providence
Chairman Fletcher said that the fund
OF S9OO, 900 was needed, first to put the or
ganzation on = firm basis before the stock
was offered for sale; that with this amount
they could 20 to the State and ask for
land with something tangible.
w. l.. Whlpple said that in the neigh
borhood which he represented considera-
BILE stock could be disposed of, but he did
not think that his contingent would take
kindly TO the donation fund
Chairman Fletcher said that his idea
was to get forty gentlemen to contribute
5000 apiece and then sell stock.
Mr.. Whipple said that for the sake of
bringing the matter before the meeting
he would move that n committee of five |
gentlemen be appointed by the chair 70 |
solicit donations. After considerable dis !
cussion this amended by making the com |
mittee ten instead of five and was then |
passed
Senator Sherman of Pawtucket thought |
1t would be n good plan to get the land as |
soon as possible and moved that n com |
mittee of three be appointed to apply TO
the General Assembly for the land now
occupied by the old State prison. This
motion WAS passed and the chairman will
name the gentlemen on both committees
At the next meeting The meet.s--, then
adjourned.