The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1895-07-20
TALKING BUSINESS.
The Ohautauqua Stockholders Wrestle
With the Financial Problem-A Plan
to Solve the Difficulty.

Stockholders at their meeting yester-
day afternoon discussed the plan of pro-
viding for payment OF interest and in
debtedness over and above current ex-
penses, and decided that next year 81
should be charged for all stockholders
tickets for the season and half that rate
for time less than season tickets. The
vote to charge all stockholders on Tai
mage day this year was lost and in lieu
thereof a voluntary subscription by the
stockholders was contributed on the
spot. Two hundred dollars in S5 SUBJ
scriptions was raised in about ten min
utes and 10 ten minutes more was in
creased to s251 by smaller subscriptions.
In a spirited speech Of a few minutes,
Judge Keith suggested the plan of a
complete reorganization of the associa-
ton on a plan that would lift the asso
citation out of debt and a motion follow
ing to carry out the suggestion, the fol-
lowing committee was appointed to
draft a plan and present it to the stock
holders at 9 q. M. tomorrow: H. H.
Keith, A. E. Carhart, j. j. Mcintyre,
Geo. r. Farmer, w. X. Wait, r. N. Kratz
and o. f. Bolles.
A committee Of five was also raised to
continue the solicitation OF subscrip-
lions: Messrs. Picker, Uline, G. b.
Kennedy and Mrs. Meyers end Mrs.
Jenkins.
HOW TO RAISE I'll DEBT!
At 8 a. m. to-day, the committee on
reorganization reported, making the fol.
lowing recommendations:
Your committee recommend
l. That the stockholders employ an
agent for GO days commencing about
September l, whose dnty it shall be to
visit all the stockholders of the ~associa-
ton so far as practicable and present to
them the exact financial status Of the
association.
2. To take subscriptions from stock
holders and others payable on or before
Dec. l, 1895; conditioned however, upon
the stockholders raising $4,000 for the
purpose OF paying the debts Of the asso-
citation.
3. To sell lots.or shares of the associa-
ton to be taken only upon the condition
that the indebtedness shall be provided
for.
4. Your committee further recon.
mend that the secretary be instructed
to notify all parties who have given their
obligations to the association and are
past due to pay or secure the same on OF
before the first day Of Oct, 1895, or their
contract will be cancelled. This matter
should state the exact financial condi.
ton of the association, the reason in full
why it becomes necessary to make such
demand. Your committee further re-.
commend that 100 more shares of the as.
ISOLATION be issued and sold for S1OC
each and that stockholders have the
first opportunity Of taking shares at that
price, but that such shares be sold on
COuulGlOu LudG 1OO arc Gdhou.
Further, that the above propositions
be formulated IN detail by the board OF
directors.
On motion unanimously carried it was
decided to increase the capital stock OF
the association to $50 shares.
The report of the committee on reor
rorJzotior u,oc than nror;vnorolx ol1r<
ed.
Following this was a sharp, spirited
discussion on the directors methods OF
conducting the assembly, the hotel, the
engagement of talent, etc., and the bust.
ness atmosphere was greatly clarified,
The stockholders learned many things
from the criticisms and nswer OF the
management which had q soothing in.
~fuence upon their suspicious in regard
to lavishness in expenditures. A discus.
sion OF the date Of holding the assembly
elected the fact that there was a unani
nous desire for an earlier assembly sea
son.
On motion 1t Was decided to hereafte,
begin the assembly as near the first Of
July as the day Of the week will per
nit.
Committee Of five raised to select {
man to act as agent for the association
Chair reappointed the committee of re-
organization to select an agent and also
two to accompany him to canvass Madi
son.
Adjourned until 100 p. m.
Stockholders me- again at 1:3O p. m
and the committee appointed il the
forenoon recommended that Messrs
Carhart and Uline be a committee tc
canvass the grounds and in Madison
under the new plan; second, that or
Talmage day Supt. Hager take charge Of
an effort to sell stock and raise money
and third, that E. G. Whalen be employ
after Sept. l, to canvass the state in tn.
!, interest of the associations now plan nj