Show SALT PALACE RfORGANIIATIN PLAIT NOW DISCUSSED BY TEE > DIHECTOBS < I Plan By Which the Exposition May 1 j Become Permanent and All Claims Be Settled I C tea 4 There Is strong probability that the Salt Palace association will ha reorganized reorgan-ized vithin the next ve k AJ meeting t discuss t1 subject was 1 to have been held at walker Bros bank yesterday afternoon but it was postponed until Monday afternoon S A committee of the Salt Palace board I of directors consisting of J P Gard ner M H Walker and So Wk lori n will meet J R Walker and Fred Heath on Monday to discuss the most important impor-tant transaction in connection with the reorganization S J B Walker and Mr Heath own the Salt Palace grounds consisting of fifteen fif-teen acres of which the former has five and the latter ten acres The proposal of some of the directors is to have Messrs Walker and If eath accept stock in a reorganized company for their property so that the Salt Palace association as-sociation will become the owner of the grounds It now ha a twoyear lease As the purpose i to make the Salt Palace a permanent Institution the directors di-rectors want to secure the property The scheme of reorganization contemplates templates the issue of stock to all creditors cred-itors of the association and Director Gardner said last night that most of them had acquiesced in this solution of the present condition of the finances With the consent ot the owners of the property the reorganization may proceed pro-ceed At this time the debts > f the association associa-tion amount to 38000 The property is said to be worth from 15000 to 20000 and 22000 of stock has already been issued A reorganization would thus require a capitalization of 75000 Whether or not this will be done ca not be determined for sever days |