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Archive for Tuesday, July 6, 2010

25 years ago: 300 runners participate in Free State Run

July 6, 2010

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Three hundred runners lined up in the Holiday Inn Holidome parking lot to participate in the 8-kilometer Free State Run, the opening event for the Independence Days festival. The festival also included about 50 arts and crafts booths, music by Bill Monroe and the Bluegrass Boys and John Hartford, and plenty of food.

A telephone hotline had been set up to handle the claims of investors who had purchased starter kits in anticipation of selling cultures they grew to Culture Farms Inc. Securities Commissioner John R. Wurth had said that sale of the kits constituted a Ponzi scheme in that no significant market for the cultures existed except for Culture Farms to buy them back. The main source of new revenue came from the sale of more kits, which according to the commissioner meant that the kits were in effect speculative securities.

Two Crowns Inc., a Texas development firm, were in town to meet with city officials prior to making a final decision about building a riverfront mall project.

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