The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1919-01-29
ALL FAVOR PLAN.
1,4. r..sg. D,n I

and made a short speech PREDATORY
reorganization. Circumstances in the
past few years for which the officers
were not responsible he said had result
ed IN a bad financial situation, the debt
practically exceeding the value of the
assets. The directors had no security
for signing the note covering the debt
and were entitled to protection. The
property might be mortgaged to in
dennifv the signers. but a better plan
would be to reorganize TO take care Of
the outstanding debt. If a sinking
| fund of $4,000 was established there
would still be the debt.
Mr.. Barber then told of the meeting
Monday night, when he and f. d. L.
Stowe and Glenham Jones were ap.
pointed committee to draw up reso-
luton for reorganization. new cor
| poration could be formed to buy the
old stock, and it ought to be easy to
find 800 persons who would take the
equivalent of $50 of new stock each
which would yield $4,000 and would
pay the old debt and still leave a sink
ing fund. He brought out the fact
that the old stock was assessahle and
could be assessed up to rs face value
Mr.. Barber then presented the follow
ing and moved its adoption:
Whereas, it now appears that the
Valley Fair association has an indebt-
edness in excess of eleven thousand
dollars ($1l ,000) exclusive of its capi
tai stock and
Whereas. the assets of the Valley
Fair association including its fran
chises and all its property, real, per
sonal and mixed is uncertain or not il
excess of its said Indebtedness:
, Now therefore be il resolved
that the Valley Fair association
SELL either at public or privat
sale, all of its assets including its fran
chises and all its said property and es
, tate real. personal and mixed of what
soever kind or nature at a sum not les
y than enough to pay all it's said in debt
: edness aforesaid exclusive of its capi
tai stock, and the stockholders of sal,
! Valley Fair association do hereby nom
: mate, constitute and appoint Fred {
: Adams as their duly authorized agen
: to negotiate said sale and to sign, ex
!. eeutiye and deliver for and in behal
y of said Valley Fair association, all nee
. essary deeds, conveyances. and othe
papers for tho purpose of transferrin
i the title in all of the property afor,
10 said TO said purchaser.
!. 1t is further provided that the ager
# herein appointed for the sale of sal
N property shall require from the pm
chaser or a new corporation which ma
n be hereafter formed for the purpose
- taking title to said property contra,
i conditioned that said property be hel
(. and used for the same purpose as
- has heretofore been used by the Vale
4 Fair association.
MIR. Gale thought it would be neee
sary TO call another meeting as the
was nothing in the warrant GOVERN
the subject, and Mr.. Benson said IL
a., idea was TO get the sense of the NEE
ing and that another meeting wou
be called.
;ee The question of whether il was
-, sired to continue the fair was thu
al brought MP BY w f. Robertson
i Hinsdale, y. H., who declared that
~ had acquired the name of Faith
ng Gloom. He said people were not a
re tending fairs as much as formerly.
ew Mr.. Holden did not agree with N
he Robertson and asserted that there "
at not fair in the New England eireu
sid but what had fully as large an atten
he anee last year as ever. except where t
rev weather was had
On motion of Mr.. Stowe that it "
er- the sense of the meeting that the fa
70 be kept up every man excepting
CHI Robertson declared himself, by a risi
lei vote. in favor of keeping up the fla
Mr.. Robertson voting in the negati,