The land and other property which may be held by any society under the provisions of sections 262.290 to 262.540 shall be held by the society for the sole purpose, and none other whatsoever, of erecting enclosures, buildings, and other improvements calculated and designed for meetings of the society, and for exhibitions of various breeds of horses, cattle, mules and other stock, and of agricultural, mechanical and domestic manufactures and productions, and for the purchase and importation, breeding and the keeping thereof of such foreign breeds of stock as the board of directors may deem advantageous to the interest of the county, and for the breeding, raising, purchasing and selling of all classes of purebred stock.