The Stockholders of the G. F. College Assn. Met in called
meeting in office Treas. at the College at 3:00 o'clock P.M. June 18, 1903, President
W. R. Odell in the chair - The following shares represented in person: J. A. Odell
144 - J. M. Odell 23, W. R. Odell 5, Dred Peacock 12, C. H. Ireland 6, O. W. Carr
1, By Proxy, Mrs. C. L. Gray by R. T. Gray 8, H. W. Lilly, Trustee by J. A. Odell
10, B. N. Duke by J. M. Odell 35, Total Shares represented 244.
On
motion of J. M. Odell it was ordered that the College be closed inasmuch as operating
expenses so far exceed the income as to render the continuance of the College
too burdensome on the few who have to assume the responsibility.
On
motion of J. A. Odell the following preamble and resolutions were unanimously
adopted: See paper "A."
On motion of R.
T. Gray the following resolution was unanimously adopted: See paper "B."
On
motion of J. M. Odell the following resolution was unanimously adopted - See paper
"C."
There being no further business, the meeting
adjourned.
"B"
Resolved
that the Directors of the Association are hereby authorized to negotiate a loan
of ten thousand dollars from the City-National Bank for the purpose of paying
all of the outstanding floating indebtedness of the association and to deposit
as collateral security - for the repayment of said loan the three point mortgage
made of $100 each now held in the Treasury together with all the accounts and
notes receivable belonging to the Association.
"C"
Resolved
that the Treasurer be and he is hereby authorized to sell and dispose of all the
hogs, cows poultry etc and perishable property belonging to the Association, except
the horse used at the College, on the best terms possible and also to take such
measures and employ such agents as may be necessary to preserve the property of
the association from injury and pillage until the further order of the Association,
and further, to obtain and submit to the Association any offers of lease or purchase
of the property.
