The Sun.
London, England, 1853-03-17 00:00:00

THE CRYSTAL PALACE COMPANY.

The report of the directors to the shareholders, at the
extraordinary general meeting, which was held this day,
was as follows :

" The directors think it desirable, as the charter is
now obtained, and the undertaking is rapidly advancing
towards completion, to take advantage of the oppor-
tunity afforded by an extraordinary meeting called to
consider an agreement with the West End and Crystal
Palace Railway Company, in order to submit to the pro-
prietors a short statement of the position and prospects
of the company.
" After the purchase of the building the first step
taken was to secure an appropriate site. For this pur-
pose it was found expedient to purchase a much larger
extent of land than was actually required for the park,
in order to secure the assent of adjoining landowners,
and to effect diversions of public roads.
"The principal purchase was that of Mr. Schuster's
park, consisting of 171 acres, which that gentleman
most liberally allowed the company to take at its then
existing market price, as determined by a valuation.
The price was ,referred to Mr. Daniel Smith and Mr.
Norton, as referees, with Sir John Musgrove as umpire,
and settled by them at 86,6611. 12s. Bd. The other
purchases comprised 178 acres, at a total cost of 81,0001.,
so that the company on the whole became the proprietors
of 349 acres, at a cost of 167,6611. The policy of se-
curing sufficient land before its value had been enhanced
by the construction of the palace soon became apparent,
as a portion of the surplus on the outside of the park
has been already disposed of at a large profit. An offer
made by Mr. Wythes, of Reigate, of 100,0001. for 149
acres of this land has been accepted, which, with some
other small portions sold, will show a profit of 51,0001.,
which has been realised in the course of a few months by
the resale of land. The company still retain 200 acres,
within a ring fence, of land of the most valuable character.
" The necessary space being secured, the determina-
tion of the position of the Palace thereon became a
matter of anxious consideration, and the summit of the
hill above Sydenham was finally selected. This site,
owing to the nattre of the ground, involved an increase
of expense, but the advantages of occupying one of the
most commanding situations in the world, overlooking
London, the Valley of the Thames, and the plain of
Kent, were so apparent, that the directors did not hesi-
tate to adopt it.

" Indeed, they may state that throughout the whole
conduct of the enterprise, in which they have had to
contend with all the difficulties and responsibilities
of an undertaking so entirely novel, the directors have
steadily kept in view the principle that the first condi-
tion of success was to create a palace and park which
should constitute a monument worthy of the nation.
" In doing so they have striven, as far as possible, to
consult economy ; but they have endeavoured to attain
this object rather by avoiding unnecessary expenditure
in matters not strictly essential, than by curtailing all
of the leading features of the magnificent plans of Sir
Joseph Paxton, or of the admirable and instructive col-
lections and decorations of Messrs. Jones, Wyatt, and
others.

" By acting on these principles they have succeeded--
notwithstanding the adoption of extended plans, by
which the palace and surrounding park will be carried out
in all their leading features, on a scale of magnificence
far exceeding anything originally contemplated—in
limiting the amount of expenditure to a sum which, noW
that the principal contracts are all let, may be confidently
stated not to ekceed the original limit of capital pro-
vided by the charter, viz., 500,0001. of share capital ; and
one third of that amount, or 166,6661. 6s. Bd. of loan
capital.

"The whole of the share capital of 500,0001. is sub-
scribed for and available, and there will be no difficult,'
in raising the authorised amount on loan. The put'
chase money of the lands resold, amounting to upwards
of 100,0001., will be received by the company before the
Ist August.

"As regards the prospects of profit and return of the
capital invested in this great national undertaking, the
directors will only state that every step which has been
taken towards realising the general conception has in-
creased their confidence in a successful result. It is
now certain that a building—in magnitude and archi-
tectural beauty very far surpassing the original Arne-
ture in Hvde-park---filled with unrivalled collections of
art and of objects of beauty and interest, placed on a
commanding site in the midst of a spacious park,
which the charm of natural scenery is combined wit'
ornamental gardens, terraces, and fountains, on a
scale of magnificence rivalling that of the Palace
itself, will be thrown open within every access of the
millions of inhabitants of this great metropolis. If. es
appears to be proved by the Great Exhibition of 1851, a
demand really exists among all classes of the population
for a supply of the means of gratifying enlightened curie"
sity and enjoying innocent recreation, healthful alike to
mind and body, amidst objects of natural and artistic
beauty and scientific interest, the results of such an un-
dertaking can hardly fail to be eminently successful.
"As the time, however, is approaching when these
results will be brought to the test of experience,
the directors refrain from indulging in any antici-
pations, and will confine themselves to adverting to
one point connected with the question of commer-
cial return, which is no longer speculative. The
advantages afforded to artists, manufacturers, patentee*
and others, by such an unrivalled opportunity Of
exhibiting their productions, have been so generally
appreciated, that they have led to numerous a?'
plications for space for exhibition, at a rental to
be paid to the company. These applications already
comprise many of the leading manufacturers in different
departments, whose productions formed the principal
attraction of the Exhibition of 1851; and as the Pr°-
gress of the New Crystal Palace becomes better known,the demand for space is fast increasing. From thehoasre'
plications already made to Mr. Belshaw,_ r liras
superintendence the department of British man
was placed in 1851, the directors are assured
Y
will be able not only to fill the whole of the available
space in the interior of the building with objects of inte-
rest,but also to realise a large return on the whole capi-
tal thaatc. the
tal invested, from rents alone, independently of all other
sources of revenue.
"The directors will now advert to the arrangement
with the West End and Crystal Palace Railway Con
pany, whose bill has just been read a second time in the
House of Commons, which is the special object of the
present meeting. This railway is promoted by anen
tirely independent company, and although your direc-
tors have given it , every support and encouragement
from the obvious higortance of facilitating the means ,
transport to the Crystal Palace from all parts of L°
II"
they do not propose that this company should'.
undertake any guarantee or advance of eaPi„,
The agreement which has been entered into by -bu
two boards, subject to the approval of the PI;
prietors, is simply a traffic agreement, by which
is provided that the Crystal Palace Company'
fix the rate at which tickets shall be issued
eluding admission to the Palace, and transport by Atir
railway, the proceeds of which shall be divided in b'e
proportion of four-sevenths to the Crystal Palace Cerad‘
pany, and three-sevenths to the railway company; aOO
as the railway company are about to expend a 1 ris
capital, on the faith of the traffic which will be brougto
to the Palace, it is further stipulated—as a security
them against the risk of the Crystal Palace ComPaei
fixing rates so extremely low as to leave them without
any adequate remuneration—that the proportion an
signed to the railway company under this division
not be less that Bd. for each passenger, to and from '
the palace.

" This proposition will be submitted to the meeting,
and the directors recommend the proprietors to ratiff.lt"
being satisfied that it is most advantageous for their in
terest to secure, at the earliest possible period, such an
additional means of cheap and convenient transpolt.,.°
the palace upon terms which involve no onerous liabila
or obligation."

OUR NATIONAL DEFENCES.—CONVEYANCR OF gOugß
ARTILLERY BY RAILWAY.—An experimental removal
file
troops and artillery took ph ce yesterday morning
the Bricklayers' Arms station of the Sonth-Eas_
Railway, for the purpose of ascertaining the time regim.
to load and unload heavy artillery with horses, anicawiri;
tion, &c., for conveyance by railway. A portion 01 t
battery f the Royal Artillery, with the full complenlelle
of men, horses, guns, ammunition, waggons, &c.,
loaded in a train at the Bricklayers' Arms station, cots
veyed to Woolwich, and there unloaded—all in 2 hall
and 38 minutes, 35 minutes of which were occupied in
constructing a temporary platform to unload the gni
THE FATAL LOCOMOTIVE BOILER EXPLOSION, o.iS.f
MANCHESTER.—Mr. W. S. Rutter resumed his inclag-,
into the causes of this event yesterday afternoon, at
Waggon and Horses. Captain Wynne, the GoverntoF
inspector, was examined, and stated that the explosio.
might have resulted from the engine being out of rele,
as well as the cause to which it has hitherto been
buted—the engine driver, Hefron, having screwed down
the safety valves. He would not, however, decide
what it was really to be attributed, though he consid
the engine very much worn.
THE LATE FATAL ACCIDENT ON THE BOLTON 11'45;
WAY.—Another victim has been added to the list of thos
whose lives were sacrificed by this catastrophe—Betbsle
M`Cartney, Mr. Barbour's nurse, having died at t.v.
Manchester Infirmary late on Tuesday night. Herulit
juries consisted of a dislocated ancle, to reduce
was necessary to amputate a portion of the bone of
joint. This is the sixth death arising out of the acts
tleu
Mr. Carati still remains in a precarious state. "
OPENING OF THE CRYSTAL PALACE ON SUNDA.,)". to
Last night a public meeting of young men 0131"57,e1d
the opening of the Crystal Palace on Sundays was -nee
at the London Tavern, Mr. Robert Seely, in the abser--a-
of the Lord Mayor, in the chair. After a few ehse'vtal
tions by the chairman against the opening of the Cry.:tir.
Palace, a resolution was moved and seconded.
fe-
Newton, amid a scene of considerable uproar and con
Sion, moved as an amendment, "That, in the opiai°,llo-
- meeting, the opening of the Crystal Palace on
days would be a religious, a moral, and a social ad to
tage to the community." On a show of hands,
i,,s's,
chairman declared the original motion to be carried
large majority.
HOPS.—In a Parliamentary paper which has,„beteed
printed by order' of the House of Commons, it's B"'_ of
that the total number of acres under the cultivatio3n6A
hops, in the year 1852, was 46,1571, of which 1:6,',,,DtY
were in the district of Rochester, 10,1091 in the
of Sussex, 9,4934 in the district of CanterburY, b.;t9i in
the county of Hereford, 1,730 i in Hampshire, If" &e.
the Isle of Wight, and 1,1071 in Worcestershire,
,/44/
The total amount of the duty for 1852, was 411866/.
Bs. lid., of which the old duty amounted to 2 d
and the 3--
2s. 4d., the new duty to 180,987/. 19s. 11d.,rrho
ditional duty of 5 per cent., to 21,290/. ss. va,o2 494
total weight of hops charged with duty was -511 L :400,
lbs., and tho amount exported during the year
_
965,8551bfi,