194 TRANSACTIONS OF THE 



year for four years, and that upon an amendment of the original law 

 in 1858 the same amount was appropriated for live years longer. 

 These appropriations were to be used in the payment of premiums, 

 and for no other purpose. More than this amount has been paid in 

 premiums every year since the Society has been in existence. The 

 fact has also been noted that the Society received from the State 

 $15,000 to make improvements on its grounds in 1861. These improve- 

 ments cost the Society about $10,000 in addition to the amount appro- 

 priated by the State. By reference to the annual reports of the 

 Recording Secretary and Treasurers it is found that the Society, just 

 about paid current expenses up to January, 1860, but had accumu- 

 lated no jDroperty of any value. Having been traveling from place 

 to place, and depending to a considerable extent upon the localities 

 in which it held its fairs for buildings and for its accommodations, 

 though it had helped to make improvements suitable for its uses at 

 several points, it had acquired no property interest in them, and had 

 been compelled, up to this time, to pay rent for offices in which to 

 transact its business. 



In the erection of the Pavilion in Sacramento, the county under- 

 took to provide the means, while the work of construction was placed 

 in the Society's hands. The special tax levied by the county not 

 being collected fast enough to meet the contractors' dues, the Society 

 became a borrower and advanced the money. The report of the 

 Recording Secretary to the Society on the 16th of January, 1860, 

 showed the liabilities of the Society thus created, $5,944 45. Assets, 

 mostly demands against Sacramento County for money advanced, 

 $7,661 11. A portion of the claims against the county were not 

 allowed, and none were realized by the Society in 1860 — and the cur- 

 rent expenses for that year were large — so that the report of the 

 Recording Secretary on the 30th of January, 1861, showed liabilities 

 to the amount of $19,518 13; available assets, $8,000 08; excess of lia- 

 bilities over assets, $11,318 05. In making improvements on the 

 Society's grounds during 1861, the Board had hypothecated the State 

 appropriation of $15,000 (which could only be realized upon at a dis- 

 count), for money to prosecute the work, and the financial standing 

 of the Society at the annual meeting, adjourned to March 8th, 1862, 

 stood as follows: Liabilities, $39,231 65; assets, $21,711 62; excess of 

 liabilities over assets, $17,520 03. At the adjourned annual meeting 

 of the Society, on March 12th, 1863, the Secretary's financial report 

 showed: Liabilities (January, 1863), $26,473 58; assets, same date, 

 $9,965 97; excess of liabilities over assets, $16,507 61. 



On the 12th of March, 1863, the Legislature passed an Act supple- 

 mental to the Act of incorporation, providing for the election of a 

 " Board of Agriculture," consisting of a President and nine Directors, 

 to be entrusted with the affairs of the State Agricultural Society; 

 three of the nine Directors to hold office one year, three two years, 

 and three three years; the President to hold one year; the Board to 

 elect its own Secretary and Treasurer; after the first election, all 

 Directors to hold office three years; the first election to take place in 

 March, 1873. Under this Act, the annual meeting of the Society 

 convened March 12th, 1873, was organized and conducted under the 

 new law. At this meeting Judge Isaac Davis of Yolo, was elected 

 President; James McClatchy of Sacramento, G. R. Warren of San 

 Joaquin, Mike Bryte of Yolo, R. J. Walsh of Colusa, C. PI. Grimm of 

 Sacramento, Robert Beck of Sacramento, Wm. H. Parks of Sutter, 



