The Savannah morning news., 1901-01-24
BOARD OF DIRECTORS
40 GOVERN THE SAVANNAH FAIR
ASSOCIATION.
COMMITTEE WILL so ADVISE
MEETING OF CITIZENS WILL BE
HELD THIS AFTERNOON.

''Savannah Fair Association VIII BE
Recommended by the Committee
on Observation-Disclosures of Dtrec-
tors TO BE Elected by Stockholders.
President, Two Vice Presidents. n
Secretary and "a Treasurer to he
the Omcers-Shares to Be $40 Each
subscriptions to BE Paid In Seven
instruments.
The Committee on Organization for the
State Fair held a meeting yesterday af-
ternoon at 4 o'clock at the office of the
Mayor in the City Exchange. Maj. G. NJ.
Ryals, Mr.. J. w. Jackson. Mr.. George
w. Owens, MIR. A. b. Moore Mr. S. L.
Lazaron, Mr.. Robert NJ. Hicks Mr..
Charles F. Graham, Mr.. P. A. Stovan
and Mr. L. w. Neeson, secretary. were
present. Mai. Ryals was made chairman
of the committee.
This afternoon at o'clock a meeting
of all interested in the fair will be held
at the City Exchange. It is expected
that all who have been or desire to be
interested attend. as business of import
ance will be considered. Steps for per-
manent organization will be taken.
Agreement upon certain important rec
concentrations to be made to the mass
meeting was reached by the committee
1t was decided to recommend that the
sovernance OF the association be left to
a board of twelve directors to be elected
by the stockholders, and that the name
be the Savannah Fair Association. 1t
was only after considerable discussion
that the name was decided upon.
It is the plan of the committee TO have
the board of directors elect president
and two vice presidents for the associa-
ton from among the directors The
other officers OF. the association are to be
a secretary and treasurer, but they are
not to be members of the board of d.
rectors The bylaws for the governance
of the association is to be left to she
prospective board of directors.
1t is proposed to Apply for a charter for
the association as soon as possible. Be-
cause of the desire to get the charter
speedily, 1t was decided to make $25, 900
the minimum for the capital stock. The
maximum agreed upon was 100000 The
shares are TO be $40 each.
The committee will further recommend
a method of payment of stock subscrip-
signed to make the payments as easy as
possible, it was agreed to allow each sub
scniber to make seven installments of his
subscription, the first to be paid March
] and the others to be paid monthly there
after The firss four payments are TO be
each 10 per cent of the gross subscription.
and the remaining three are TO be 20 per
cent.
1t is believed that the $40 shares and
the easy payments will result i'm a great
increase of subscriptions. Many have not
subscribed because they thought the stock
might be given too high a par value to
admit of their taking a full share. II is
believed a great many citizens unable 10
subscribe as have some of the leading
merchants and business men, feeling an
interest in the success of the fair will
be glad to take one or more shares
Not few who have been approached
for subscriptions have not put down their
names because they did not understand
just when they would be asked 10 make
the payments. The committees have told
them that installments would be easy, but
The committees spoke only from their be-
lief that such would be the case. II the
report OF the Committee on Organization
Is adopted, the installments may be paid
as indicated.
Since the meeting week ago some Of
the soliciting committees have been busily
at work and have added materially 10 the
total Of the stock subscriptions they have
secured. These committees are all expect
SO 70 submit reports al the meeting this