The Ogden standard. [volume] (Ogden City, Utah) 1902-1910, 1909-01-14

In accordance with the notice pub
lished and as provided by law, the
stockholders OF the Inter-Mountain
ing. elected officers and discussed the
presidents report
Presidents Report.
To the Stockholders of the Inter
| Mountain Association, Ogden. Utah;
Gentlemen-The present board OF
directors took charge OF your affairs
one year ago with a total debt OF
| $4,000. of which $4,000 was drawing
! interest at the rate of per cent In
accordance with tho instructions OF the
| last annual meeting, we mortgaged the
property for $4,000 and issued 100
| bonds Of $1,000 each, bearing per cent
| interest per annum. Three thousand
| six hundred dollars of the bonds were
| Immediately set aside To pay OFF the
existing debt, which left $4,000 In
bonds which were sold as follows:
| $4,000 to Eccles Lumber company,
$1,000 to the First National bank,
1000 to the Ogden State bank, and
$500 to the 10000 Population club.
The following improvements were
made:
One new grand stand, 33 new box
stalls, 120 horse and cattle stalls large
double sheep sheds, almost two miles
OF fencing around the race track: new
| fences on Seventeenth street, etc, all
costing $40 0,602.53, or over $4,000 more
than the total amount Of funds avail
able for that purpose The question
naturally suggested Is, from whence
came this extra $4,000, or is there
$4,000 debt in addition to the $4,000
bonds7
1t appears that success and good
luck was the fortune Of your board of
directors In almost every undertaking
last year. Decoration Day, the 4th
and oath Of July. the baseball games,
all were money makers for the associa-
tion. The profits Of the association
for 1908. excepting the fair, were about
$4,000, and but for the fact that the
fences and buildings all had TO be re-
built. the association would have had
a very substantial surplus for last
year. even with the bad weather at
the fair Our fair was conceded to
have been the best ever pulled off In
Ogden, and would have made a profit
of $4,000 but for the rain of the last
two days But even with the handicap
of bad weather, the association came
within 81 900 Of paying its own eXpen-
ses for 1908 by reason Of the fact that
the Ogden merchants. your board of di-
"""t"rS and business men contributed
$2.279 and also because the bad wealth
er caused the judges to reduce the
cash awards over $1,000, and we also
IL
the merchants wno sold us supplies.
All our bills are paid except $3.50, to
the Utah Light & Railway company,
for which We have Issued stock.
The Standard Publishing company
contributed $4,000 in cash and
S25000 In advertising, but the bill
for advertising amounted to over
100000 and the directors at the
last meeting generously offered to set
tie this bill for $3.50 and have in
structed your president to rustic up
enough money to pay the bill. Outside
OF these two bills. / believe every
claim against the fair has been paid,
including taxes. The contractors for
the new grand stand claim they took
the contract too cheap, namely. for
s1.650 and have failed to pay some of
their employees, who have fled lien
on the fair property, The Volker-
Scowcroft company also claim lien
of $500 for lumber.
The present board Of directors were
forced to pay several old claims,
among them $50 for windmill that
had been purchased several years ago.
1t is discouraging to see these old bills
presented. and including taxes, wind
mill and interest, the old debt amount
ed to just about 5000.
l recommend that all those who own
ed stock, which has been sold for past
assessment, be permitted to redeem
their stock by paying the assessment
of S1.50 per share plus 80 cents for
cost Of sale and per cent interest
per annum on the amount due, provid
ing same is redeemed within GO days.
This is the best that can be done un-
der the law
recommend the adoption OF resolu-
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