The Caucasian. (Shreveport, La.) 1900-192?, 1909-01-28

The address of President Bollinger Of
the State Fair of Louisiana, submitted
to the Board of Directors at a special
meeting held Tuesday afternoon and
having been published is familiar to
readers of Shreveport newspapers.
In brief the statement is plain. There
is Il need of money to meet liabilities
and to continue the FAIR
Will the Fair be continued?
The whole Indebtedness is embraced
in this statement.
Nine mortgage notes of $4,000 each
at s per cent interest. balance due on
Original! purchase price Of $4,000,
$4,000.
Interest due on same January 1,
! 1000, $1,000.
Unsecured Indebtedness, loss on first
Fair on account of bad weather, about
$1,000.
Total indebtedness $4,000.
There is and will be needed $1,000 to
paw accounts now due and to operate
until the beginning of the FAIR.
There was due and payable on Janu-
arv I, one of the mortgage notes for
S.. 500 with interest aggregating $500
total $1..,oo. the payment of which has
been extended until July I next.
This obligation with the required
$1,000 equals $1,000.
Practically this is the amount which
must be provided, as there is or was Al
agreement to extend the unsecured IN
dchtcdness of $1,000 by second mortgage
notes.
This $1,000 indebtedness is the result
of financial losses sustained through III
i clement weather during the first Fal
the most discouraging of disadvantages
The Fairs Of 1907 and 1903 are free O
debt. The 1908 Fair realized a prof
which led to the settlement of all &C
counts incurred during that year.
The Directors had anticipated TIN
realization of plan which has beef
ventilated III newspapers by the transte
of the tax voted as bonus to tn
Northeastern and Shreveport RallWa.
for which stock was to have been lssue'
to each taxpayer transferring this ia,
to the Fair Association which in tim
would transfer the grounds to the cit,
for a park
This plan failed for reasons as are as
singed in President Bolingers address
, OF this tax about six thousand dollar
have been assigned to the Fair Associa
ton on the first plan and may be avail
able if these taxpayers will agree to TAX
stock in the Fair Association for sue
tax.
In his address the President of TIL
: Association submitted two plans, tn
, one adopted and recommended for fav
, orable consideration is as follows:
!, PLAN FOR SOLUTION OF DIFF
GUILTY.
First-Give second mortgage notes t
unsecured creditors, time one, two
t three, four and five years.
Second-Solicit the assignment of tn
tax of the Northeastern railway. as IA
as possible, for which stock will be is
sued to each party assigning same an
. we feel that the always ready to Civ
3 public spirited loyal citizens will cor
: tribute. and if they do we can count O
about $4,000 to $4,000.
We can use all of this money with tn
$ exception of about $1,000 for runnin
: expenses and pay off four mortgag
notes, leaving a balance due on tn
property about $4,000. The property
worth double the present indebtedness!
I We already have about $4,000 pledge
9 on the old plan which we have bee
+ forced to abandon for lack of supper
and confidently count on the most c
. this being reassigned on the prese1
e plan.
r With proper effort on our part an
the support we believe we will get o
this new plan, we have reason to bellev
that he will receive liberal support fro1
!. all the railroads entering Shreveport b
a stock subscription by assignment of tn
1 Northeastern tax.
+ We have positive assurance from on
road to start with and also an assurane
of agricultural exhibits off their roa
and think all the other roads will jol
in this movement and further give goo
J. rates and proper advertising of the Fal
a In fact, we have already been assure
: this by the same road of as good rat
as the Dallas Fair will get.
T. If this plan meets your approval W
must act quickly and fast, as we can NJ
afford to lose much more time huntin
for finances Very respectfully,
!. S. H. BOLINGER,
! Presiden
Any citizen. not biased but public spil
tied will concede that annual Fairs al
far more important and valuable