The Kent Fair Association's Last Stand

The stockholders in the King County Fair and Agricultural Association held an adjourned meeting at Kent on Wednesday afternoon, President Devine in the chair. The objects of the meeting were to devise a plan for extricating the association from its financial difficulties and to elect new officers. The committee appointed at the meeting held three weeks ago reported that they found the debts of the concern were not quite so heavy as previously reported. Two ways of procedure presented themselves: the association could go into bankruptcy, or, according to the by-laws, the association could demand the payment of assessments by delinquent stockholders, which, being refused, left the association to declare the stock forfeited. The latter plan was decided upon. It was also believed that the capital stock of the concern should be increased from $25,000 to $40,000. The secretary was instructed to call upon delinquent stockholders by circular letter for their assessment money, and to notify them that if it is not paid by a certain date their stock will be declared forfeited; also notifying the creditors of the association that it is desirous of settling its indebtedness by the transfer of stock, it having no funds with which to settle. These proceedings have given great satisfaction to Kent people, who have feared their pet institution was in danger of being wiped out completely.