The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1894-07-13
AT THE LAKE.
A Lengthy Etockholders' Meeting Presi-
dent Williamson Explains the
Business Condition Eatisfao-
tory TO All NOtes and
Comments.

Comments.
At the stookholders' adjourned meet
ing yesterday there were present by
proxy 90 and In person SO at the open
lug OF the meeting though several more
stockholders came in later.
Tbs old question OF bylaws was raised
ct once BY w. n. Dempster and COM
mittee proposed TO do the work OF the
directors, but milder counsel prevailed
and resolution was passed instructing
the directors to provide necessary by
laws. Later 10 the meeting the direct.
ore reported the following bylaw which
was adopted:
.That one-third Of the stockholders
present ct any meeting in person or by
proxy shall cons 'itute quorum for the
transaction of business"
Mr.. Dempster then moved TO instruct
the directors to prepare q bylaw limiting
the number OF proxies to be held by any
stockholder TO five which was after some
discussion laid upon the table.
President Williamson having stated
that he was prepared to answer all qnes-
tions touching the financial statement
and also to propose plan FOR clearing
up the indebtedness, the consideration
Of this subject was ON motion taken mp.
For an hour or more Mr.. Williamson
met inquiry after inquiry in ready,
pleasant and lucid explanation, leaving
not an item OF any kind IN doubt, and
answering all questions evidently TO the
entire satisfaction OF all. While large
| majority OF the questions were asked IN
all candor for information solely, few
were propounded evidently with the do
sign Of entrapping or casting reflection
upon the management, but it was also
more apparent that the stockholders
would not encourage any such inter-
ference. q.
| While the present Indebtedness which
has come down from former years was
apparently large, the situation was not
at all discouraging. OF the 10000, I'M
debtedness, $4,000 was not due for four
years yet, collateral or stock notes were
held against another s6,OOO and only
5000 il TO be provided for at the pres
ent time. President Williamson's plan
as laid before the association was
TO get 65 out OF $50 stockholders Of the
association TO dispose of the remaining
So shares OF stock, each of which entities
the purchaser TO q lot either by selling
to some one else or purchasing one them
selves in friends name and dispos.ng
OF it when they can. On the regular
plan Of sale, this would bring the asso-
clation nearly $4,000, ok which $1,000
would be cash. In this way all obliga-
4 tions could be met and the association
be on solid footing.
The plan was adopted and commit
tee consisting OF Messrs. Uline OF Dell
i Rapids, Fielder OF Brookings, blanchard
OF Mitchell, Cooley OF Dell Rapids and
lC. B. Kennedy of Madison, were chosen
to assist the directors III carrying out the
work planned On an expression being
taken as to how many would take lots
under this plan seven or eight signified
their willingness while as many more
desired time to think il ever.
/ On motion of elder Fielder the direct
ors were ordered to make % cent ad
4 mission fee 10 II single entertainments
except on special occasions designated
by directors.
4 The meeting then adjourned until 2 p
n. Monday next.
Il MORE FUN.
At the auditorium Chas. Lane, at $3.50
I p. M, lectured on .Things not ..found in
Books.' The address was full OF beauti.
ful practical maxims and abounded IN
bright sallies OF wit and edifyina
. thoughts.
PROHIBITION.
n At p. M. the prohibiti0nists on the
ground have been holding meetings foi
! night or two past, but whether from
lack OF adherents on the ground or lack
1 OF interest In the cause, the meetings
have not been prolific OF results. The
! arrival Of prominent prohibitionists from
{ NIL parts OF the state today aud tomorrow
to attend the state convention may add
J, TO the interest.
THE EVENINGS ENTERTAINMENT
was enlivened by the strains Of the bans
combination performance OF D solo b,
Miss May Carter, accompanied BY Mis-
Il Westermann on the piano and Mr
/ Spencer on the violin. GUSTAV Collin
also contributed two character special
, ties, which by way OF variety, were vel
received.
HOPEFTL OUTLOOK.
The audiences yesterday and especial
ly last evening show decided increas
in the attendance OF the assembly. AM
this increase il all due to actual resi-
|. aarafe s.r, fhn errossnd M fha Ar0 FaianA nj