Clipping:Salaries for Louisville officers; dissension among the minor stockholders

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Date Wednesday, March 3, 1886
Text

[reporting the Louisville Club annual meeting] After the election there was quite a breeze over a resolution that the officers of the club be salaried, and that the directors be empowered to salary such officers and fix the amounts as they deem best. Various amendments fixing the amount of salary were voted down, and the original resolution was carried. Considerable dissatisfaction was expressed over this by the minority stockholders, as under this resolution the directors may appoint themselves officers as president, recording secretary, financial secretary, treasurer and manager, each at a salary to be determined upon by themselves, even if it leaves no dividends for the other stockholders. In fact, it is the Boston Club scheme over again. Has Mr. Phelps been getting pointers from Mr. Soden? The minority stockholders haven't even the small comfort of free admission to the grounds, as a resolution that every stockholder be allowed a season ticket was voted down, and a motion prevailed that the matter be left to the discretion of the directors.

Source Sporting Life
Submitted by Richard Hershberger
Origin Initial Hershberger Clippings

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