The Sun.
London, England, 1862-12-11 00:00:00

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2.11.61 CRYSTAL AtZAVitti'.o.:2
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, I The following report of the directors of the
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„„/ , Crystal Palace will be submitted to the general
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Meeting on. the 17th :

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S VA3IPED

7'HE NEW SCRAW RAM.

" submitting their annual report and statement
of accounts for the ear ending the 31st October,
1862, the directors beg leave to congratulate the
proprietors of the Crystal Palace Company on the
cheering result of the year's working, and on the
favourable aspect of their affairs in general. An in-
spection of the revenue account will show that the
net amount carried to the credit of revenue has
reached the sum of £60.702 16s. ad., being coneider-
ehly in excess of that earned during the preceding
twelve months. Deducting the amount applicable
to dividends on the preference and debenture stocks,
and other necessary charges, there remains at the
credit of the general revenue account the sum of
£33,017 7s. 4d., available for division amongst the
proprietors of ordinary capital. Out of this the
directors recommend the payment of a dividend of
3 per cent, (3s. per shar2), leaving a balance of
£2,929 12s. 4d. to be carried forward. This
satisfactory increase in revenue is accompanied
by a corresponding improvement in the general
financial position, as a glance at the accounts will
show. From the general balance-sheet it will be
seen that the heavy item formerly charged under
the head of loan accounts has disappeared, while
the capital account shows that the mortgage de-
bentures outstanding are now reduced to the in-
significant sum of £6,900. Thus the company is
epE ruaict t
si ct
aa lnl farlenenfer,osmi
ndnenbitt. Nw
iol rl
this
t thegratifying
er,
now,does
be seen from the general revenue account that re-
venue will for the future stand unencumbered by
any bygone liabilities, and be left available for
dividend—subject of course to the annual charges,
and to the expenditure necessary for the current
maintenance of the building. This position has
been attained by writing off the sum of £7,101
6s. 3d.—being the balance of expenditure, which
the proprietors are aware was carried over from last
year—from the then reserve of £10,176 los. 2d.
This step the directors have decided on taking, be-
cause they believe that under the improved aspect
of the affairs of the company, and the state of effi-
cient and substantial repair in which the building
now stands, the same contingencies need not be
apprehended which formerly led them to maintain
the reserve of so large a figure; while they also
consider it very undesirable to clog the revenues of
future years by carrying over amounts as a charge
against them, unless an urgent necessity for such a
course shall appear to exist. The proprietors are
already aware that after the severe gales of 1861,
the directors considered it imperatively necessary
to have the building examined by a competent pro-
fessional authority. They accordingly requested
Mr. Edwin Clark, the eminent engineer, to make a
complete investigation of the whole structure, and
the necessary works have been executed in accord-
ance with his advice. The report of that gentleman
is submitted herewith, and it will prove to the pro-
prietors that the outlay was absolutely unavoidable,
and has been judiciously and effectively applied ;
and further that the confidence of the directors in
the future stability of the building rests upon good
foundation. The exhibitors' department still
maintains the steady rate of progress which has
distinguished it during the last few years, and the
rental to the end of October last exceeded £14,000.
This amount has been realised notwithstanding
some sacrifice of income.from the removal of a con-
siderable number of tenants, who were not satis-
factory either in their mode of doing business, or in
the character of the articles they exhibited. The
sacrifice is, however, amply compensated by
the general improvement in the department. The
directors look forward to a large accession of exhibi-
tors for the current year ; having already since the
31st of October made arrangements for additional
rentals to the amount of about £2,000 from parties of
reputation and standing. It is hoped that by care-
ful attention to the interests of the numerous tenants
of the company, the present satisfactory position of
this important branch of the revenue may be fully
maintained. The directors' consider it due to Mr.
Strange to refer to the increased amount of rental
received from him, and to express their satisfaction
at the manner in which he has discharged the duties
of his department, which have necessarily been very
onerous, owing to the large attendances of the past
season. The total number during the year has been
2,020,219. On several occasions there have been
very large attendances. The proprietors will doubt-
less have remarked the return on the " Foresters'
Day," Aug. 19, viz,, 83,721—n0t only the largest
number yet attracted to the palace on any one occa-
sion, but exceeding by more than 15,000 the num-
bers visiting the International Exhibition on its
most crowded day. A considerable portion of the
surplus land of the company has been realised dur-
ing the past year, at very favourable prices. The
amount received from this source will be found cre-
dited in the general balance-sheet, and is thus
brought in aid of capital. The prospects of the
Crystal Palace, as regards increased railway accom-
modation, continue to be very encouraging. The di-
rectors alluded in a former report to the important
line of the South London and Crystal Palace Junc-
tion Railway, by which communication will be pro-
vided between the termini at Victoria and Fleet-
I street and the front of the palace, afew feet only be-
low the main floor. An agreement has been executed
between the two companies, under which, besides
other advantages, this company will receive a consi-
derable sum for the land required for the railway,
which sum will come in relief of expenditure on the
Dulwich Wood Estate. It is understood that con-
tracts have been entered into for the whole of the
works of the line, but the land belonging to this
company has not yet been entered upon. Various
railway projects are announced for the coming
session of Parliament which, if carried out, will give
great additional facilities of access to the Palace.
Among these the most prominent are that of the
Brighton Company, for a line from the present
Crystal Palace station, skirting the outside edge of
the park, and landing its passengers at the north-
end of the building, on the level of the machinery
floor. That of the South London Company, for
continuing their line already referred to from its
high level in front of the palace to the Norwood
Junction. Those of the Chatham and Dover Com-
pany, and of the Brighton Company, for extensions
to Greenwich and Woolwich. That for a line across
the Thames from Tower-hill, uniting the Blackwell
and North London lines to the lines on this side
the
to the
et
Westernhpw eo apjtuue
nlr. asnyttiisonltnnet
system
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ieto
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igit regretted West-end
bit the
Richmond
etlmientnoen,tdhwopeningSouth
district
would be enabled to visit the palace—and of the
Kensington and Wandsworth line, in direct connec-
tion with the North Western, Great Western, and
North London lines, should be so long delayed. The
interests of this company, no less than of the respec.
Live railway companies, are suffering materially by
the delay, and it is earnestly hoped that some means
may be found to hasten the early completion of both
undertakings. The directors cannot close their re-
port without briefly recapitulating the main fea-
tures of the present encouraging position of the
company. The proprietors have now, for the first
time, achieved three important advantages. 1. The
company is free from floating debt. Its financial
position is sound and satisfactory, and its revenue
not burdened by the encumbrances of former years.
2. The building is in a more thorough state of re-
pair, and in greater stability, than it has ever yet
been. 3. The permanent attractions of the palace
and park have attained such a pitch of matured
beauty as to compel universal admiration. During
the past season the Crystal Palace has not only, by
common consent, surpassed its newest and most
dangerous competitor, but by the unanimous voice
of the thousands who visited it from every quarter
of the globe has been proclaimed to stand unri-
valled for its charms as a place of public resort in
this or any other country. Without arrogating to
themselvesmerit of these
three
great
facts,anythe unduedirseheatreersowf
will
eonly
say that it
is the earnest endeavour of themselves and the ge-
neral manager so to maintain the establishment as
to continue its progressive career, without relaxing
their vigilant watch on the minutest details of ex-
penditure,"

A New York paper states that the Dunderberg
is being built 378 fret long, 68 broad, 32 deep, with
engines of 6,000-horse power. The hull is built, of
wood, placed together so as to form a solid mass.
'1 ha decks, sides, and floor are also solid, and of a
great thickness, so much so that if the figures were
given all would be greatly surprised at the amount
of wood used in the construction. This enormous
wooden hull is heavily plated with rolled iron
plates, which cover the entire upper portion of the
vessel, and extend six feet below the water line.
tons. The bow of the vessel, for 30 feet
Theabaft
weightaftthestoemf
oterrible
fsol armour
dour is not far from
wood,, is
1,200
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solid
dn sides
idesf
every e
wood,
aunnde Dbovretohred,
ahtaevrinlgine,peraorwessewveoinfth rfeneesotissttpahnaice
thick
covered with iron, forming the most gigantic
n pyTrohte
cause,ct protected
hteh
otherat should
can be
ene easilyb e-
the vessel, this being
vessel,ram on record,
as sdpvdeeecsdt s e
tl h The
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as
which
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rudders,
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hl
ede plating.nfrdo msoa
used. The engines will give this vessel a very high
speed, so that when she strikes a vessel she would
crash through her with perfect ease. Above the
main deck the build is very peculiar, but at present
cannot be described. In addition to a large case-
mate, containing heavy broadside guns, there will
be two of Ericsson's revolving turrets, each con-
taining two 15-inch guns. The naval register puts
her armament down at 10 guns, but it will be
much larger. The accommodation for the officers
and men are to be of a superior kind—large, airy,
and as well ventilated as an ordinary ocean steamer,
yet giving to them all the necessary security in
time of action. In every respect she will be one of
the wonders of the age. She is intended more par-
ticularly for harbour defences, but can readily go to
sea, as she possesses all the qualifications for
buoyancy, &c. She will be a most terrible affair,
and will defy anything else in the shape of an iron-
clad. She is to be finished as soon as circumstances
will permit.

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