Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-02-10
MAY SELL SOME LAND
,ossrnLE SOLUTION or AcRICtL-
TrRAL soCIETy's TROUBLES.
EXECUTIVE COMMITTEE IN SESSION.
yhe, Talk over the situation ana
adjourn TIL This Morninc-statc-
wcut OF what the society's In
rcbtcdncSs Is.

~r, Virginia State Agricultural and
,..r.n.cal Society is in straitened cir
l.~saaccs; and unless the Executive
committee can devise some means OF pay
t oI at lsast portion Of the
so...,s Indebtedness the courts will Ia
,.r.i upon 90 appoint receiver for the
rrsr.rty and settle mp it's affairs
The executive Committee met at .dur.
,t,s Hotel yesterday morning IN orc .r
,, consider the condition OF the society.
The-. were present Colonel W. +. Wick
ham president and Major r. v.
Gaines. IL. Clay Chamblin. J. b. Wat
t.r. and r. W. Wood. This was a bare
o.aum and. as the matter under con-
s..uon was so important It was de-
,.eI 20 defer action until this morning
gt ID o'clock. when a larger attendance
IS ezfcctcd.
INDEBTEDNESS AGGREGATES $4,000.
Tho condition of the society was dis
e..-.d at considerable length in the
Meeting yesterday, and it was shown by
t.s special report of President Wickham
-t.t Nsssrs. John l.. Williams & Son
f.. mortgage on the property OF the
society Tor $1,000 and. i'm addition to this.
ts... are current liabilities aggrogating
.I..t $4,000 This money is due on
oman accounts and notes. for premiums
rr-aIl and for repairs made on the
Grounds and buildings. Messrs. Williams
N Son are disposed TO deal lenicntly
With the society, and show no disposition
to foreclose their mortgage; but the
Tax 20
make mp the $4,000 Indebtedness. are
unfortunate. and threaten unless salts
t.I 90 go into the courts. This is the
reason the meeting here was called. as
fne society desire. If "a receiver is TO be
Amounted 10 take the initiative them
selves. and have "a man selected who viii
6rIe1v0r 90 promote the interests Of the
orcarzItion.
Ir may he that this move will not have
10 bs rcsorted 10. as there are several
schemes ON hand which will be brought
forward to-day. whereby the society may
Dee put on q substantial financial basis.
Nr r.. w. Wood yesterday called at
tcution TO the value of the Broad-street
frontage of the society's property, and
suggested that 100 feet depth. running
-hr entire 1000 feet of the Broad-street
front. De Topped off and sold He was
confident that the property would bring
81 a front foot. and thereby yield the
society 5000.
SELL TO THE RAILROAD, TOO.
aiaior Gaines suggested, in addition
go this that fifteen acres along the tracks
az the Richmond Fredericksburg and
Potomac railroad could easily be dis
rersed with. and could be sold TO that
road for $1,000 an acre. thereby yielding
$1,000 and making the total yield from
sale of property $4,000. This he said.
would leave the society an abundance Of
property. and would give il plenty Of
money 10 extend its life upon one half
~ the $4,000 could be used toward liqui-
dating the current liabilities and the
o.her half toward improving the re-
naming property. and making the VIII
Jams mortgage more valuable. The in
,erest on this mortgage is 5000 per year,
ri the society feel that if they are
able TO raise the $4,000 on the sale of
portion Of the property. they will be
vau able to meet this annual obligation.
some definite action Will probably be
taken this morning.