This Society Lost Money

New York, 1895

Agriculture and Horse Racing Not Successful at Amityville.

The Amityville agricultural fair and driving park association was incorporated in 1892 for the purpose of holding spring and fall trotting contests and agricultural fairs. The meetings of 1892 and 1893 were successful and the outlook for a permanent organization was in every way favorable. The grounds, consisting of a half mile track, were inclosed and suitable buildings were erected. At last year's meetings, however, the weather was so unpropitious that the attendance was very limited and the agricultural entries correspondingly few. The meetings were necessarily adjourned on account of the weather and, therefore, some of the most interesting races were declared off. Other disasters occurred which alarmed some of the more timid stockholders. They took no further interest in the affairs of the company. Foreseeing the disaster which was sure to occur, the business men decided to pay all the debts and dissolve the company. With this end in view the secretary has at the instigation of the directors, issued the following notice to the stockholders:

Now, the affairs of the association are as follows: We have sold about $3,000 worth of stock. We have spent in the improvement of the grounds, in buildings, fences and making the track, about $9,000, and the association has, in doing all this, incurred liabilities of about $4,500. A large part of this liability is on notes for which the directors are personally liable. Now, owing to the fact that the stockholders take so little interest in the association, and as the directors — who are liable for the debts of the association — intend to protect themselves, it was decided to hold another meeting in the bank building at Amityville, L. I.. at 2 P. M., on the 24th day of January, 1895, and at this meeting all persons who desire to save their stock are required to be present, as at this meeting it will probably be decided to sell all property to pay debts.

It is a matter of regret among most of the citizens of the town that this step has become necessary.

—The Long Island Farmer, Jamaica, N.Y., Jan. 18, 1895, p. 1.