The Savannah morning news., 1901-11-17
WILL MEET CLAIMS
ALL OF THE FAIRS OBLIGATIONS
WILL BE PAID.
ASSURANCE TO EXHIBITORS.
GIVEN BY OFFICERS or THE FAIR
ASSOCIATION.

Every Premium, Purse OF Prize
offered by the Association Has
Been or VIII Be PaId--sO General
Manager A. b. Moore and Treas
urer b. Fl. Levy Said-Meeting OF
the Stockholders of the AssOcfa-
tion Gave Authority for a Loan OF
$4,000 to De Secured Upon the
Assets of the Corporation, Which
Consist of the Race Track, Build
ings and Lease Upon the Fair
Grounds.
Every obligation of the Savannah
Fair Association will be promptly met.
Not a single claim against it will re-
main unpaid. Every premium. purse
or prize offered in connection with the
State Fair either has been or will be
paid. All who have claims may rest
assured that they will be met"
This is statement that was made
last night by General Manager A. B.
Moore and Treasurer B. H. Levy. 1t
was in reply to question as to the
financial outcome of the Fair.
A meeting of the stockholders OF the
Fair Association was held yesterday
morning at the City Exchange. On mo-
ton of President George w. Owens.
Col. ]. H. Estill was called to the chair.
and, on another motion, General Man
ager A. B. Moore, was asked to act as
secretary.
President Owens made statement,
showing that $4,000 would have to be
raised in order to meet all the liab.l-
tiles of the association. The gate re-
ceipts and the money received from
concessions and percentages Of the re-
ceipts of the shows have been insun-
cient to meet all the obligations of the
association.
The directors gave the report care
full consideration. After full discus
sion, on motion Of President Owens,
the following resolution was adopted:
Resolved, That the board of direc-
tors of the Savannah Fair Association
be, and they are hereby, authorized
and directed to borrow $4,000 to pay all
outstanding debts due by said asso-
citation, securing said loan by a mort
gage on all the assets of said associa-
ton; said loan to be obtained either
from the stoc kholders or directors of
the association, or from any other per-
sons"
Another resolution was passed, in
structing the secretary to notify absent
stockholders of the action taken and
inviting them to join in making the
loan. A subscription list was opened in
the meeting. and nearly $4,000 was
subscribed to the loan. The rest of the
money needed will be secured without
difficulty. The security is ample, as the
buildings and the track cost more than
double he amount for which they are
to be mortgaged. The five-year lease
| upon the grounds is regarded as valu-
able, as is the option to purchase with
in the term of the lease. AS a site for
future fairs or race meetings, the
grounds will be in demand, and 1t is
believed that they can be made to pay
handsomely.
From the statements made at the
meeting ii was apparent that, had the
subscriptions to the stock of the asso-
citation been as liberal as there was
every reason to expect at the time the
inv alton to the State Agricultural So
ciety to hold the Fair in Savannah was
extended, there would have been am
pie funds to meet all obligations with
out having to resort to the loan.
No fault is to be found with the
MANAGEMENT but, on the contrary
there is a disposition to congratulate
the officers of the Fair, who have been
most active in its interests, upon hav-
ing achieved the success that crowned
their efforts in every particular, save
that of finance. Over that they had
no control. The Fair was credi. tc
Savannah, and to the association that
gave it.
An the purses for the races
save $500 for those of yester-
day. have been paid. Owners Of
| the runners who are entitled to the
| $500. will be paid tomorrow.