The record-union., 1895-11-19

Highest Leavening Powe-Lae u S. Govt Report
g! Rs;';;a'ss Rsk!i2s
ABSOLUTELY PURE
ARSOE1Ajg gE.EsX PURE

| parties in interest a decree was en-
! tered ordering the owners of record TO
convey the property to the Agricultural
| Association as trustees, said trust be-
| ing. expressed as follows
said lands to be held in perpetuity as
q place for holding agricultural exhibit
tons, etc." and a deed containing these
| limitations, and which had been made q
part of the decree, was delivered to the
| association. The law governing agri-
cultural fair associations places many
restrictions and limitations upon the
| powers of the directors appointed by
the Governor to manage them for and
in the name Of the State.
Section 621 of the Civil Code provides
that such an association must not con-
tract any debts or liabilities in excess
Of the amount of the money in the
| treasury, except an Indebtedness not
| exceeding $4,000 for real estate and
buildings, and makes the directors who
vote for such Indebtedness personally
| liable for the same.
Section 622 Of the Civil Code provides
that such associations are not con-
Quoted for profit and shall have 10 in
come other than that derived from
| charges to exhibitors and fees of men,
| bership, which charges and fees must
never be greater than to raise sufficient
revenue to discharge the debt for real
estate and improvements, and TO de-
| fray the expenses of the fair
It viii be seen that under these pro-
visions the powers of the directors are
Sc circumscribed that they cannot. ac-
cumulate any reserve fund for the i'm
| prOvement of the property, or for the
! purpose of Offering extra and expensive
attractions al the fairs.
! 1t was in view of these restraints
and limitations that the members Of
| the association decided that ii would be
| for the best interest of the associat atiO1.
and of the community at large, if some
! legislation were had granting to the as
sociation the right to manage their
| property in such q manner as would
| produce a greater revenue, thus en-
| abling them to offer larger premiums
| and greater attractions at their fairs,
and allowing them to assume Oblga-
tiOns for the improvement of their build
ings and grounds rather than com
| pelling the appointed directors. who IN
many cases were not members of the
| association, to assume personal obliga-
| tiOns in order to insure the success of
| their fairs.
With this object in view bill was
| introduced by me- IT was fully dis
cussed and favorably reported by the
| committees Of both houses, and became
a law without a dissenting vote The
| affairs of the association by Board of
! Directors elected by it's members, if
| they so desire. 1t WithhOlds the power
! to sell any of the property of the as
| sociatiOn which may be necessary for
! the purposes for which the association
was formed, and does not repeal the
| law, which requires that a decree must
first be obtained from the Supreme
| Court before any of its property can be
! o a a
| has general application, but SO far as
| the Los Angeles association is con-
cerned it is prohibited by the conditions
of the trust under which it is held from
| selling any Of its real estate, except
eight outside lots.
| The assertion that it is intended to
| sell the property is as absurd as it is
! impossible of execution. The statute
| further provides that all funds appro-
| pTiate6 by the Legislature to the asso-
| ciatiOn, and all fairs held with the
moneys SO appropriated shall be con-
| trOlled and conducted by Board of
! Directors appointed by the Governor
! The capital stock of the Los Angeles
! Association is divided into 130 shares.
owned by over sixty individuals, and
! this statute, as far as my knowledge
| goes. and it is extensive, is approved by
every stOckholder except three, who
| are members of the State Board of Di-
rectors. who have been cited to appear
before the Governor to answer charges
preferred against them for misappro-
! priatiOn Of the funds of the assOcia-
! tiOn.
| The charge that there is $4,000, or
any other large sum for any one. in the
/ bill, is as false as it is absurd, and the
! ahsurdity viii be apparent to any dis
/ interested person who will carefully eX-
anime the matter.
! 1t is the object of the Act. and it is
| the desire Of the members of the asso-
! citation, that it's affairs may be so con-
| Quoted that its annual fairs will attain
! a national reputation, and that its
grounds may be so improved and made
! 50 attractive that they will be justly re-
/ garded as one of California's notable
/ artra cfiOuS