Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1896-02-13

had become of monies taken in al
the fair. Secretary Johnston offered
his books as evidence OF transactions
and stated that they would show ev-
cry deal. The debt was contracted
years ago, and the present officers
had nothing to do with it. The debt
had been growing for the past fifteen
years,
Mr.. Winship wanted the minutes
read.
Mr.. Stinson stated that he did not
feel as though the stockholders had
had any part in the societies business,
and were not acquainted with it's
workings, and wanted committee of
two lawyers and business man to in
vestlHa the society since it's organ
Ization and to adjourn to some future
time. The committee was also to in
vestigate the liability Of the stock
holders.
Secretary read minutes Of previous
meeting which showed that society
considered the grounds worth $4,000.
Some questions were asked as to a
sale of grounds to e. W. Young, Mr..
Gebhart stated that the grounds were
offered for sale after due notice, and
that Mr.. Young had bid for the as
ISOLATION.
Mr.. Winship stated that he under
stood that Mr. Young would take the
grounds at 1890, but could not get a
deed. The secretary said that he did
not know very much about the sale as
he was away, but that price offered
would not pay society's debts, and as
the grounds we're supposed to be
worth $1,000 Gebhart and Young
had tried to get all they could for
grounds. After this sale crops failed
and grounds deprecated. No one
could foresee crop failures.
Mr.. Young said that he never called
for a deed, never wanted one, but bid
only for the society, as vice-president
and made bis bid as q starter, and il
others bid would run the property up
to full amounts of debts, and held
property only in hopes Of getting bet
ter prices. Gebhart wanted full
amount of debt, but he would not
give it. Had paid out SIS for repairs
aud received $40.
John Bjssell thought the debt was
wind one bat valid. and would
have to be paid of, and favored buy
ing the grounds and holding for
raise, The secretary stated that the
holders of 154 shares could be made
to pay, and if each one paid So rs per
share the debt would be cancelled.
Mr.. Gebhart stated that the sureties
would accept Sc per share, and re-
lease stockholders from any liability
upon this Judgment.
r +. Stinson presented the follow
ing and moved its adoption: That a
committee of three be appointed by
the stockholders here in session to re.
port at an adjournment of this meet
ing, to be held in two weeks, the con.
dition Of the affairs of the assocsation,
and the liability Of the stockholders.
The roll was called resulting in
fifty for, two against.
N B, Mccormick raised the point
that this was not meeting of the
stockholders as many were not mott
fed of the meeting.
O. A. Lewis wanted stockholders to
buy ground and hol On 10 it unit
prices got better.
The investigating committee was
then appointed consisting of Messrs.
Mccormick, Stinson, and Cummings.
Mr. Gebhart made a proposition
in writing that he would deed back
the property to the society for 81 400.
and interest at the rate of ten per
cent. per annum from date of sale,
he to account for all lumber removed
at $40 10 per thousand the society to
accept within thirty days.
The society then adjourned for
two weeks.