The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1899-02-18
To The Stockholders of the Cecil County
Agricultural Society.


You are aware from many ANNOUNCEMENTS
in the county press, that plans have been in
contemplation with those who have friendly
wishes lor the perpetuatiOn Of the Society
aud it, Annual Fairs, tohring about this end
The official call for a meeting of the stock
holders to take action in the premises has
been published Thursday, the 23l Inst, ut
IL A. NJ, at Eikton is the time and place.
The best course to be pursued has been the
subject of grave consideration, and much
legal counsel has been employed in the so!u
ton Of the perplfXing questions by which it
is surrounded. The proposition to mortgage
the premises and to purchase four hundre |
shares of the stock at par held 10y the syndi-
cate represented by Mr.. WoOliey seems the
only feasible method for accomplishing the
end propn sed. The Mutual Building Associa-
ton has authorized the necessary loan Of four
thousand dollars, which two gentlemen have
agreed to guarantee
But this plan is not unattened Ivy objections,
aud perhaps by difficulties. 1t of course cor :
templates mortgaging the assets Of the Sc
ciety to pay of a block of stock, and the
stock thus bought is required to vote to az
complish its own redemption, for it is hope
less to attempt to get the vote of n ma ori' v
of the stock withou the aid of this larl g
holding. This creates equitable difficulties.
1t is conceded that the Courts would compel
On equitable share to share apportionment #
the sum thus received by mortgage of the as
sets upon the application ofdissatsiied share
holders before the execution Of the mortgage.
That Is, the owner of one share would be en-
titled TO have that share redeemed by the
payment to it of four tenths (4-10) of its par
value. namely, four dollars.
1t is presumed. however. that owners of
single shares, and these practically embrace
all remaining owners, will be more anxious
to further the project than TO embarrass the
new management. The consideration Sc
cured to the remaining 600 shares by the re-
demption of this stock are considerable and
valuable. A property of great intrinsic
worth, on which over thirty thousand dol
lars have been expended is secured to then,
A property most admirably equipped aud en-
ceptionally located for its purposes. The
State appropriations fixed charge, will pay
all interest charges, and establish a sinking
fund to he yearly augmented. A single Fair
with success equal to the Fair of 80, 81 or
81, would wipe out the proposed mortgage
debt. Othcr more ethical advantages will
accrue; the dangerous concentration OF stock
in a few hands will be ayoided the rapid de.
probation of Cecil county real estate will not
be further encouraged, possibly it will be
stayed. and the existence Of public spirit,
which seems to be dormant, will be demon
Stratcd.
The consummation of this project which
ought to be very near the hearts of the
farmers OF Cecil, will depend ON the number
of the shares represented at the meeting, and
the unanimy OF the attendance.
We therefore appeal TO every shareholder
to attend this meeting, either in person or by
proxy, 50 that the wishes OF tie shareholders
may be definitely known, and the final action
be such os to meet. rs nearly as possible. the
unanimous wish Of the stakeholder outside
Of the syndicate. CHARLES NJ ELLIS.