The Sun.
London, England, 1863-06-11 00:00:00

The International Exhibition Building.

A parli9mentary paper has been issued contain-
ing a copy of the correspondence respecting the
purchase by Government of " land c.nd buildings
used for the purposes of the late International Ex
hibition,"

It appears that on the 20th January last negotia-
tions, which took place last Sear, were recommenced
at the instance of the Exhibition Commissioners.
On the 18th May Sir M. Peto accepted, on behalf
of the contractors, the sum of £BO,OOO for the re-
movable portion of the building, stating that they
could have realised a larger sum, but, identified, as
they were with the Exhibition, they prefer taking a
course more in harmony with their feelings, than
making it a mere question of money. Mr. Gladstone, in
acknowledging this letter, does not doubt Messrs.
Kelk and Lucas's statement, but the estimates relied
on by them must have differed from those of the
Government, who had offered the full value. Mr.
Gladstone agrees to pay the money immediately
after Parliament should have agreed to the esti-
rr p.te.

On 21st May the Exhibition Commissioners, re-
ferring to the willingness of the Treasury, ex-
pressed on 20th January, to reopen negotiations,
write to the Secretary of the Treasury that they
are " prepared to sell to her Majesty's Government
the freehold of the site of the building, amounting
to about 161 acres, and to include in such sale the
whole of the permanent structure, considerably
exceeding 1,000 feet in length, used as refresh-
meat rooms on the occasion of the Exhi-
bition, and situated between the build-
ing and the gardens of the Royal Horticultural
Society, with the exception of the central portion,
300 feet in length ; those refreshment rooms, to-
gether with the ground on which they stand, being,
the sole property of the commis-ioners, who under •
stand them to be the appendages referred to in your
letter." As to the price they make the following
observations

" As respects the value of the site occupied by
the Exhibition building, the commissioners' sur-
veyor has reported to them that it cannot be esti.
mated at less than £5OO per acre, or £8,250 per
annum for the whole plot of 16i acres. This
amount, capitalised at the low rate of 30 years'
purchase, represents a total value of £247,500,
or at 31 years' purchase (the price already ob-
tained for some of the commissioners' other
land), £255,750. As respects the value of the
refreshment rooms above spoken of, I am to
observe that the commissioners have expended a
sum exceeding £lO,OOO in the erection of the ar-
cades in and upon which they have been con-
structed, and that an additional sum of about
£30,000 was expended in the erection of the re-
freshment rooms themselves. The land on which
they stand is also worth a very considerable sum,
and the sale of the greater part of them to her
Majesty's Government would deprive the commis-
sioners of most of the large annual incomes which
they hitherto anticipated receiving from letting
stalls, &c., in them, in connection with the
Horticultural Gardens. The Lords of the Trea-
sury will also be aware that the estate
is subject to certain mortgages, two of
which, amounting together to nearly £70,000,
apply especially to the site of the Exhibition build-
ing and of the refreshment rooms."

Under all the circumstances the price they put
upon the property is £l2o,ooo—Government to
defray all expenses connected Nt ith the sale and the
cost of maintaining, the moiety of the roads adjoin-
ing the building, to be payable equally by the
Treasury end the commissioners until the roads are
taken by the parish. The commissioners stipulate
that the building " shall be permanently used for
purposes connected with science or the arts,' those
being the words employed in the act under which
the Department of Science and Art hold the portion
of the estate now occupied by them."
By a TreeoansduirtLmsiiwutaes
cc
oafthepetd.
2eOth May this offer,
with the ion

STAB. CLUB OF LONDON.—The members of this
club, with a large circle of their friends, including ladies,
will dine at the ersstal Palace, Suutn Wing, on Thursday,
the 25th June inst.

SUPPLEMENT TO THE INTERNATIONAL Doo
sHow.—Tear'eal on our international relations with
Azaerioa,—.FYnc.i,