The Montgomery advertiser., 1908-01-15
Alleged by Expev Accountant That There z Large Sum of Money : .ot satisfactor- fly Ae $anted For in Re ports to Association
 Clarke P. Cole, Auditor for First Fair, Dead and His Work Will Have to Be Gone Over Agsin-No Ac- tion Taken at Present on Proposed Bond Issue.


 of the Alabama Agricultural Associ- ation. held yesterday morning at 1o:so o'clock in the rooms. of the Conner cial Club, it was decided to appoint a committee of five. whose duty should be to investigate an alleged defcit of $20.o00 showed in Mir. Coles re- port of the fair held during the fall of 1906. To this committee of i've was given the authority by the stockhold- CTS to employ experts and legal tal- ent in the examination of the reported deficit and the fixing of the blame. if such is found. on the guilty pefson or persons.
 The meeting was a lively one. last ing well into the afternoon. Many of the stockholders spoke in plain words Although there were no charges made by any of those present, the reported large deficit was deter mined to be a matter which should be thoroughly slfted to the bottom.
 This action onAthe part of the stock holders was the outcome of the report rendered to them by the late Clarke P. Cole. an expert accountant of At- lanta, Mir. Cole took what books were kept during that time. and together with the vouchers and re- ceipts which could be found. rendered the report which was read at the meet Ing yesterday.
 Little was done at the meeting with the exception of the determination re- garding Mr. Coles report. The be- ginning was delayed for some time on account of the absence of a quorum, but those present. with the use of the telephone. soon secured the necessary amount of voting stock. aud the rneef- ing began It's work.
 H. c. Davidson acted as president of the meeting in the absence of W. \. . Vandiver. Mir. Davidson read a letter from Mir. Vandiver in which that gem tieman. expressed his regret at his in- ability Ito be present on account of his health, which he declared his physi- clans stated was in a critical condi- tion. He went to New York last Sat- urday for treatment by a specialist.
 MT. vandiver'n Resignation.
 Mir. Davidson also explained to the stockholders that MT. Vandiver had sent in his resignation as president of the Fair Association during last sum mer, and that the directors of the As- sociation had refused to accept it. In- stead they granted him a leave of six a trip to Europe. During Mir. yandi- yer's absence Mir. Davidson acted as president of the Association.
 The first business of the meeting was the reading of the report for the fair held during the fall of 1907 This report showed that the total deficit for the year 1907 after all immediate ex- penses of the conduct of the fair were paid, was $11.4S. The comment cons tary had "faithfully and diligently ad- ministered the affairs of the Associa- tion," seemed to satisf ythe stockhold- CTS, and the report was immediately approved. While there was no discus sion of this report 1t was generally accepted that it drew special atten- ton to the report of the year before and made more glaring some of the al- legged discrepancies of the 1906 report. which was made by Mir. Cole. the ex- pert.
 For a long time there had been an undercurrent of gossip among the di- rectors of some alleged g1aring dis crepancies in the report compiled by Auditor Cole before his death, some months ago. This excitement was evi- dent at the meeting In quiet way until the report of the 1907 fair was read. Thereafter members who were nresent immediately divided, some for smoothing over by cautioning those present to go slowly, and others in- sisting that the 1906 report be con- sidered before other business was at- tended to.
 Some members tried in vain to post pone action on the report even to the reading of the report, but w. D. Me-