The Sun.
London, England, 1852-11-06 00:00:00

HER MAJESTY'S THEATRE ASSOCIATION.

Much eaten:ion has of late been exeitrd in the social,
moneyed, and artistic world, by the epuP Ira,i and ec-
,ive progrese of an association supported by dts:inguished
names, and undertaking to apply the vast power and
facilities of action, kccared by comb:oed capital to en
object so generally interesting in these days, 83 the
m4intenance, on a soiled, permanent, and remunerative
foundation, of a great national operte It is now gene-
rally known that the announcement of the projtct in
question has been followed by the practical result of a
rapid subscription of capital, and that the association
must therefore be considered to have taken its place
among the substential existences of the world. The
public will therefore be doubtless anxious to learn on
what principles, and through what new and improved
regulations of system, it is proposed by the directors of
this enterprise at once to meet the great existing de-
mands of the public taste and convenience, and to secure
for the capital invested a safe and permanent return.
The following are some of the principal data on which
the originators of the plan have relied, and of the ad-
vantages which they will offer to the shareholders and
to the public:—The investment of combined capital in
theatrical enterprises, though new (at least in an ex-
tended form) to this country, has long been tried, and
found to answer in Paris. All the theatres of that capital
which do not depend on Government aid are the pro-
perty of associated subscribers. As an instance of the
success with which the operation of the system has been
attended there, it may be mentioned that the shares of
the Palais Royal Theatre, originally sold at 1,000 fs., are
now worth 11,000 free paying the original holders a
dividend of cent. per cent. This extrordinary ecale
of return must, of course, vary with local circumT
stances ; but, as a general feet, the great advantages
in the command of capital secured by combination are
evident, and will be found to increase in proportion
to the magnitude of the undertaking. Thus—there
is, of course, a vast saving of expenditure to be effected
by starting with a paid-up capital adequate to meet
all current demands at the moment, and to maintai❑ a
good reserved fund—repeated experience has shown the
extent of loss and sacrifice to which individual projectors
have been exposed by the absence of this kind of security,
whieb ern really only be supplied by combination. It is
also conceived that such increase of economy will be
obtained by the financial control of a vigilant working
committee, whose agency will, moreover, enable the
managing director to devote to his immediate duties of
management his whole time and energy, unencumbered
by the labour and responsibility of a business discharged
with so much more ease and efficiency by a board or
committee.
One of the most important considerations which it was
necessary to determine has keen the nature and degree
of the privileges which should be enjoyed by share-
holders of her Majesty's theatre, in virtue of their pro-
prietorship. These it is intended to arrange on the
following scale:—
" A Proprietor of 50 Shares will be entitled to a per-
sonal entree for all representations; of 100 shares a re-
served seat in the pit for all representations; of 150
shares, at pit stall for two representations a-week, the
particular days being selected by the shareholder in
his preliminary notice; and of 200 shares, a pit stall
for all representations.
" 1. The pit will be divided into separate seats, each
seat to be numbered; but apace wilt be retained for
general circulation.
"2. A proprietor of 50 shares and upwards, may,
before the fat of February, preceding each season,
transfer his privilege of admission during that season to
a nominee; and a proprietor of shares constituting two
or more of the above qualifications, may, in like man-
ner, transfer each privilege to a nominee, who will be
entitled to the privilege transferred in lieu of the pro-

prietor.
" 3. The right of admission to a stall or reserved sea,
may be transferred nightly, by voucher from the pro-
prietor or his nominee ; the transferee paying for each
representation half the usual price of admission.
"4. The actual holder on the Ist of February in each
year of the number of shares specified above, will be
the proprietor entitled to the proportionate privileges
during the ensuing season.
" 5. The intention of the proprietor to avail himself
of the above privileges, must be declared before the Ist of
February preceding each season.
" 6 In tho event of a proprietor not desiring to avail
himself of the above privileges, it will be at his option
to have an allowance, equal iu the whole to 4 par cent.
on his shares, in pay ment or diminution of any subscrip-
tion, for not less than 15 nights, which he may enter
into for a box or otherwise.
" 7. To suit the convenience of individual sharehold-
ers, the committee will have a discretionary power, before
the commencement of each season, and by his arrange-
ment with the shareholder, to substitute for his right of
admission daring that season any equivalent rights.
" 8. A discretionary power will likewise be vested in
the committee to extend such further privileges to the
shareholders, in proportion to their shares, as circum-
stances may bo found to allow; and generally to make
such regulations as may appear expedient for the general
interests of the proprietory body.
" 9. The above privileges are independent of the di-
vidend received by the proprietor in respect of his
shares."
It will be noticed that reserved scats in the pit are
spoken of as among the privileges of shareholders, and
this involves tone of the great improvements and advan-
tages in the system of admission which it is intended to
offer to the public.
The pit will be divided throughout into numbered
seats, any one of which may be secured for the evening,
and reserved; no increase in the price of admission being
made in consequence of the advance in comfort and con-
venience which will thus be effected. The stalls will
retain their original position and character. There can
be no doubt that such an arrangement will be of the
greatest advantage to the frequenters of the Opera—will
increase the numbers of the steady habitual audience—
and will bring within the reach of many an enjoyment
which, between the dread of expense and the fear of
crowd and difficulty, they have hitherto denied them-
selves. Such is a brief account of the plan and intentions
of Her Majesty's Theatre Asscciation, as far as they
have been at present determined. Many details, of
course, remain to be settled, but enough has been done
to show that the project will be carried out on a liberal
and well-considered system, and that it is based on a
foundation promising every degree of permanence as a
moneyed speculation, as well es extensive and improved
provision for the public demand in which it has origina-
ted—for a systematic, sure, and constant supply of the
highest compositions of dramatic talent and musical art.