The Montgomery advertiser., 1909-01-13
Finances Of Fair
 Are Much l,1proDed

made chairnlan. Tne task of this com. miftee was to satisfy creditors. "You had an authorized bond Issue of S6o.000 of which ts.so0 had been previously disposed of. leaving stl,2oo available. Of these bonds, s1s,1o0 were used in settlement of q portion of the indebtedness. Five were sold for cash at par, and you stiIl have s75,so0 in bonds, which win be more clearly shown and set out in your secretary's report.
 .Your Board of Directors concluded that if the citizens of Montgomery would subscribe, as much as s10.00e they would be able to pay . portion of the remaining indebtedness and felt sure of bringing about a successful meeting in October. 1908.
 A committee with Hon. Frank D. Kohn as chairman. was selected for the purpose of obtaining this money. and how we'll they performed their du- ties is better shown from the fact that they succeeded in having ,sub- scribed s10.o245o, of which amount $s.130.50 was actually collected. Of this amount, as you will be shown by your secretarys report, 36.2i4.u was paid on account of back indebtedness, including interest on outstanding bonds which was met promptly when due July 1.
 Tt will be observed from your sec. retary's report that the indebtedness of your association outside of It's stock and bonds has been reduced to S2l,. 057.15. By adding to this amount the bonds issued in settlement of old in- debtedness, which of course, stilI is an obligation of the association, siS,20o. we find, as compared with the begin- ming of the year. the indebtedness of the association has been reduced some s1o.473.
 Prcass ez,ssss:.44ss.
 "The auditors in their summary, show that the net profits of the fair held in October. plus the s54 yet to be received from railroad companies, was s4,4s5.49. This amount would be re- daced to some extent by accounts pay able that had not been vouchered prior to the auditors report and by inter- est not figured, but paid to Decem- Der 1, 1908. leaving practically net profit surplus from the holding the fair of some ss,ooO, which with the exception of the current resources al- ready mentioned was expended in im- provenents. new buiidings, new wells, repairs and the construction of an electric line from the city te vandi- yer Park which line is the property of your association. I
 Your Improvements at VandIyer Park are in good condition and GOV cred by insurance in the sum of ela.- 900. The grounds are in better com dition now than they have been since the organization of the association, sufficient forage was raised last year 10 take care of your stock until the present crop natures. We have been unfortunate in not getting many horses to winter here, caused by our not knowing positively as to the per. manency of our existence. This, how ever, can be taken care of, if you start now in earnest for another suc- cessful year. .s.
 "Mr. F. P. Chafree, your secretary. Mir. B. L. Boykin, your assistant sec- retary, and Mrs. D. J. Bartlett, your office assistant and stenographer, are to be highly commended for most faithful, efficient and loyal service as the work of each did much towards our making q success.
 Tt Is my Judgment 1t will be neees- sary to raise the sum of 91O,OO0 this year for the purpose of again holding another successful meeting. as this sum will be required flo meet:
 . "Interest on bonds and indebtsdness,s a.:s ssayRsRt !P sss on account of indebted
 'Gsnefal expense to opening fair.
 t Credit Rox Order. .
 For the perfect order that ore. vailed during the fair, we are under | many obligations to the sheriff of this | county. Hon. Horace Hood. and his | deputies. to the chief of police. MT. W. Fl. : Taylor and his patroimen. | and to the chief of the fire depart