The Sun.
London, England, 1863-02-23 00:00:00

imE- SUN, LONDON, 11IONDAY EVENING, FEBRUARY 23, 1863.

-

HERTFORD DUILDING COMPANY,

(From the Hertford Mercury.)

The aLnual meeting of the Hertford Building Company
was lately held at the Town Hall. Amongst those present
were :—M, Gosselin, Esq. ; Hon. and Rev. Godolphin
Hastings; R. Dimsdale, Esq. ; Rev. D. B. Bevan, Rev. C.
B. Pearson ; J. W. Chesshyre, Esq. ; Rev. E. Bartrum ;
Jasper Gripper, Esq. ; Rev. H. Demain ; Mr. Ludlow, &c.
Mr. Gosselin having been called to the chair, the report
was read by Mr. R. Dimsdale, the Managing Director.

The CHAIRMAN said he might congratulate the share-
holders on the presentation of so satisfactory a report. The
Building Company had two objects—first, to improve the
dwellings of the working classes; and secondly, to give a
moderate interest to the shareholders. Unless they had
kept the commercial aspect of their project in view, they
would not have prospered. They had, however, succeeded in
both their designs ; on two occasions they had paid dividends
of 3i per cent., and had largely increased the number of
houses in their possession. It was encouraging to find that,
in the improvements effected on property purchased by
them, they had always kept within the estimates, which
was much to the credit of their architect, Mr. Smith, who
gave the company his time and skill for nothing. He (the
ehairmas) did not know whether country gentlemen were
likely to take advantage of the company's offer to build for
tLem on a commission of 5 per cent. ; but he hoped they
would do so when they found that the company could build
good cottages ; and could also make good out of bad, which
was still more difficult. (Cheers.) The Chairman concluded
by moving that the report be received and adopted.

The Hon. and Rev. G. HASTINGS, in seconding the
motion, said the movement superintended by this com-
pany, was one of those efforts for the benefit of the
labouring classes which had emanated from the
Labourer's Friend Society, and for which they were
entirely indebted to Mr. Dim dale. The object was to
provide houses fit for Christian people to dwell in—wanting
which the wife and children of the labourer became slat

ternly, and the man, instead of becoming attached to his
home, sought refuge iu Ulu publiehouse. It was important
that the company should (Elect its attention not BO much to
building cottages as to the improvement of cottages already
in existence. They might build pretty cottages outside

towns, but they would do little good unless they improved
and reconstructed the wretched places to be found within
the towns, in which people would live so long as such places
existed. There were some such residences in Hertford,
which reflected but little credit upon it. He was glad to
find that the society did aim at the improvement and recon-
struction of cottage property. When the company was first
started, there were many persons who never expected that it
would pay a dividend, and who were now, doubtless, much
surprised to find that it was able to give the shareholders 3
per cent. each succeeding year. That fact would be a great
inducement to persons, who had money they wished to put
out at interest, to take shares in the company. (Cheers.)
The resolution was then agreed to.
The Rev. C. B. PEARSON briefly proposed that the re-
tiring directors be re-elected.
The Rev. H. S. WARLEIGE. slid he had much pleasure
in seconding the resolution for their re-election. As a
town clergyman he wished to record his gratitude to the
directors for what they had done and were now doing, in
order to improve the accommodaion of the poor. What
town clergyman was there who did not know that the
wretched cottage accommodation provided stood at the
very threshold of his usefulness? He could not urge
upon the poor, with any effect, to observe the dem,-
cies of life or to cultivate private prayer. As to clean-
liness in many houses it was °it of the question. Since
he had been in Hertford, hit heart had ached many
times when he had gono into cottages--nay, not
cottages—hovels--not hovels, but rather styes of the
poor ; and he could not understand how any gentleman
could allow himself to be the owner of such wretched places
as dwellings for human beings. He was happy to find that
some of the miserable cottage: in his parish were to be
pulled down, and others, worth 7 of this society, were to be
erected in their stead.

The resolution was agreed to
Mr. It. DIMSDALE said he hac a pleasing duty to perform,
in calling attention to that porion of the report in which
the directors recommend a divilend of 3 per cent. On a
former occasion it was stated la! some of their friends that
the dividend was paid out of soirces which were not legiti-
mately applicable to that purpee--being the proceees of a
successful sale, and not the rentals of the property; but on
the present occasion such an oljection could not be made,
because the receipts from tenants amounted to about LA
which, after paying all expense, would leave a sufficient
amount to pay the proposed diridend. There were two or
three matters on which he wised to say a few words. In
the first place he agreed with hr. Hastings that they should
devote their attention principally to the conversion and im-
provement of old houses rather than to the building of new
houses. If they built a number of additional houses in some
districts, and left the old houses as they were, they might,

do more harm than good. lo do any good they must get
rid of the filthy, wretched tenements at present existing.
This was what they were trybg to do at Hertford, where
there was cottage property of the worst description; but
which, perhaps, he had better tut venture to describe, as he
had been called to account for wing so last year. As they
got more money at their command they hoped to do more
good. It had been stated that if £5,000 were raised for every
1,000 inhabitants, cottage property would in time fall into
the hands of cottage improvemeit societies. That had been

done at Hastings; but it was too much to be expected to be
done here. No doubt it was biter that it should fall into
their hands, than that it shodd be in the hands of small

proprietors. It would be a greatbenefit to the poor if their
cottages could be transferred frapa the preseut owners into
the hands of kind-hearted land'ords. (Hear.) A subject
which had occupied the coaside:ation of the society was the

importance of providing suitable accommodation for single
men. It was well known that it vas very difficult to pre-
vent people taking in lodgers. It was easy to say that they
ought to make stringent regulations that their tenants should
not take in lodgers. It was qui e clear that the single men
must go somewhere. At present they very often had
nrill-
ventilated rooms at a public-home, where they were likely
to get more harm than good. If this difficulty were to be
met, it must be by providing sone system of lodging houses.
rwo classes of lodging-houses wsre required in this town.
in the
cooble place to
neigh-
bourhoodhFai rvset, t
heir
omeals
f lodging-housesea lsin,Hertford,
ah
forsingledwaog oro n working
e
ciciu bAeedroom to sleep in. a comfortable
Ano-
ther and inferior description of lcdging-houses was required
for mere tramps. No less than 9,100 or 10,000 tramps passed
throught Hertford every year, End they lodged in places
which were very objectionable. Both these descriptions of
lodging-houses the society hop 6 to carry out in Hertford
in course of time. There was another question which had
come before them from time to tine. It had been said they
were doing a good deal for the 'own, but nothing for the
country. If they could avoid this they would be glad to
do so, for they received support flora the country as well as
the town. But the society could sot go into the rural dis-
tricts and say to a landlord, "give us a piece of land, and
we will build suitable cottages." But they provided plans
and estimates for any gentleman wishing to avail them-
selves of such assistance; and they also offered to build cot-
tages for any gentlemen at a commission on the outlay of
5 per cent. The society had endeavoured to establish dis-
trict societies, but up to this tine had been unsuccessful.
If in any town there were a number of gentlemen who
wished to form a society of th's kind, by becoming a
district society in connection with this, they would have
the advantage of saving the who:e of the preliminary
expenses, the clerk's salary, and the expenses of an
office, &c. With regard to the future of this society he
must say that as they had already done some good, it was
clear they would do more good if they were able to purchase
more houses of a bad and inefficient character; and he
hoped that the dividend they were able now to pay would
be an inducement to others to join them. Although the divi-
dend was but a moderate one, yet, at the present time it was
not easy to get a safe investment which would pay more
than 3 per cent, And he believed that they might fairly
calculate on soon being able to pay 5 per cent. If the whole
of their capital of £5,000 v. ere paid up, and judiciously ex-
pended, it would yield a rental cf £350 a-year. Of this sum
£250 would be sufficient to pay the shareholders 5 per cent.,
leaving £5O for working expenses, and £5O a-year for re-
pairs. He thought the time had now come when persons
might safely and profitably invest a small portion of their
money in the society, and by so doing they would confer
great benefits on the vicinity. (Hear, hear.) Mr. Dimsdale
concluded by proposing that a dividend of 3 per cent, on the
paid-up capital be declared.
Mr. J. W. CHESSHYRE, in seconding the resolution, said
he agreed with Mr. Dimsdale that eventually, if they got a
larger number of shares taken, they would increase the
dividend considerably; because their expenses would not
then be nearly so large in proportion to their income. At
present they amounted to nearly 40 per cent, on their whole
receipts, whereas then they would be reduced to a merely
nominal sum.

The resolution was agreed to.
Mr, JASPER GRIPPER proposed the re-election of the
auditors, with thanks for their past services.

Mr. HATCHARD seconded the resolution, which was car-
ried unanimously,

Mr, ARMS rßoxa and Mr. POLLARD respectively re-
turned thanks.

The Resv. Mr. RUSSELL proposed the thanks of the share-
holders to the managing director, the honorary architect,
and the bankers, He said they could not be too thankful at
any cost to succeed in the object which the society had in
view, which was the improvement of the dwellings of the
poor ; but still, as a general rule, they could not expect a
large number of persons to subscribe their money to a work
of this kind without a prospect of getting some return for
it ; and therefore great thanks were due to those gentlemen
on whom the care and labour of the society falls, and who
had so managed its affairs as to prove to the public that,
while it was doing a great deal of good, it was at the same
time an investment which yielded a fair return.
The Rev. E. BARTRUM, in seconding the resolution, said
the managing-director—their friend Mr. Dimsdale—had
i
given abundant proof that he took the deepest interest n
the society, and that he devoted himself energetically to the
carrying out of its objects. As to Mr. Smith, the architect,
the demands on his time must be very great and pressing,
and they were much indebted to him for undertaking the
work of the society without remuneration, He (Mr, Bar-