The Sun.
London, England, 1863-06-08 00:00:00

end, so long es their present wretched domestic ac-
commodation continued. Adverting to the proposed
undertaking as one in which capital might be advan-
tageously employed, he said further facility would
be afforded for its investment by the Limited Lia-
bility Act, by which money put into the account
would be available to legal representatives of parties
dying. He remarked upon the circumstance of the
Metropolitan Association for Improving the Dwell-
ings of the Industrials Classes having spent about
£3,000 in preliminary expenses, and some £15,000
in dwellings for single men, which latter sum re-
mained unproductive ; and he mentioned, by way
of showing what might be done by men of business
putting their shoulders to the wheel, that he had
just registered a steam company, all the ordinary
preliminary expenses of which had not exceeded £4O.
Mr. ROBERTS, speaking from his experience of
many years as h.norary architect of the society pre-
sided over by Lord Shaftesbury, entered into details
to show that 5 per cent., at least, might be expected
from the proposed undertaking, that being the sum
returned by the Streatham-street buildings, and
that, having regard to the greater economy of con-
struction by the use of Portland cement in the floors,
he saw no reason why it might not realize 6 per
cent. He added that in Edinburgh 5 per cent. was
obtained from property of that kind, and in Leeds
an equal amount.
The Hon. FRED. BYNG bore testimony to the dis-
graceful house accommodation of working people
in the parish of St. James's, and referred to the
efforts he made 20 years ago to bring it under the
consideration of the wealthier inhabitants. Latterly,
however, he said, some dwellings erected there by
the Metropolitan Society had answered remarkably
well, but especially in tending to improve, by ex-
ample, houses in the neighbourhood occupied by
mechanics ; but a great number of this class, who
could only afford to pay a limited sum for rent, and
also were yet obliged to settle near their work,
were compelled to herd together in places which
were disgraceful.
Mr. GATLIFF, a gentleman long connected
with the Metropolitan Association, said there
was an impression which he wished to correct,
that the rents of working people were not easily
collected, He was able to state that out of £82,565
collected by the Metropolitan Association during,
the last 17 years, the bad debts had not amounted
to more than £4OO. (Hear, hear.) As to the
working classes availing themselves of this descrip-
tion of houses, he said the association had accomo-
dation for 414 families, and an average occupancy
by 410 families. They have 670 tenants, including
single men in their model lodging houses, who fol-
lowed 158 different trades. He refer red to the be-
neficial effects of the association in inducing build era
to furnish conveniences to the new houses they put
up to compete with those of the association.
Lord STANLEY then read over, item by item, the
estimated capital and revenue accounts of the pro-
posed undertaking to erect 10 blocks of improved
dwellings for 200 families at a cost of 123,000. The
calculations were based upon the actual experience
of the block of buildings already erected, and the
rents of which, during the three months they had
been occupied, had been regularly paid in advance.
Each item underwent careful consideration, and the
result was to satisfy the meeting of the fairness and
moderation of the calculations.

Mr. GATLIFF, returning to the proposed sinking
fund of £5O a year, mentioned as an indisputable
fact that £5O a year invested at 3 per cent. would
redeem £23,000 in 80 years.
Lord STANLEY said he remembered hearing it
stated that an investment of £3,000,000 a year
would pay off the national debt in 66 years. (A

laugh.)
Mr. S. MORLEY, speaking on the general ques-
tion, said that although personally he had not joined
the undertaking as a mere investment, he was con-
vinced, and desired to prove to the public that
money might be expended upon it with a good re-
sult. He did not think the great and noble object
they had in view would ever be attained by compa-
nies. They desired to stimulate private individuals
who had money waiting for investment, they (the
meeting) setting an example as pioneers, de-
termined at the same time to manage their own
affairs in this matter as men of business. He ad-
vised them not to begin until the whole £25,000
was subscribed.

Lord STANLEY, alluding to the question of rent,
said it was really vital. They might let rooms at a
lower rental than was proposed, but if they did that
they would cease to be a self-supporting society,
and would fall into the old groove. He admitted
that the lower class of labourers could not pay a rent
of ss. or ss. 6d. a-week. What could be done for
them was a problem requiring solution, but which
the meeting did not undertake to solve. There was
however, a higher class which could pay the higher
amount, and for which it was now proposed to give
better accommodation for the same money than they
had at present.

A working or provisional committee was then
nominated for carrying out the undertaking, com-
posed of Lord Stanley as chairman, Alderman Wa-
terlow, Alderman Finnis, Mr. Samuel Morley, Mr.
Henry Edwards, Mr. Travers Buxton, and Mr.
Ellis, and at the close of the meeting the subscrip-
tions amounted to upwards of £13,000, including
one of £5OO by the chairman.