The Sun.
London, England, 1853-11-18 00:00:00

CONSERVATIVE LAND SOCIETY.

Last evening, a very numerously-attended meeting
of the shareholders of this society was held at the Free-
masons' Tavern, for the purpose of drawing for 86 rights
of claim. Among the gentlemen present we noticed
Viscount Ranelagh, W. Cribb, Esq., J. G. Maitland,
T. M. Holmes, Dr. Worthington, J. Harrison, Esq.,
G. Morgan, Esq., C. L. Gruneisen, Esq., &c.
Shortly before eight o'clock the chair was taken by
Lord Ranelagh.
The CHAIRMAN said, that on occasions like the
present the shareholders prefer at once to proceed to
business. He would, therefore, call upon Mr. Lewis to
address them. By that gentleman's doing so, he would
obviate the necessity of a number of directors making
speeches.
Mr. LEWIS said he would not dilate upon what had
been already done, or go at length into dry details. In
fixing the amount of shares at 501. he knew that the
remark had been made, why should you charge 501. for
that for which other societies only charge 30/. ? He would
tell them the reason. It was in order to prevent the
shareholders from disappointment in the exercise of the
franchise, that they had been daring enough to foNake
the beaten track. In other societies, whose rights of
seniority are still drawn in units, the lowest
number 4 on our list was 537, and that number
would be satisfied at the termination of the even•
ing's proceeding, so that there was- every pros-
pect of numbers up to 2,000 or 3,000 soon receiving
their allotments. In building upon their estates, certain
restrictions were laid down, and rigidly enforced, so
that one member would not be allowed to depreciate the
property of another by the erection of a building of,
comparatively speaking, trifling value. If any gentle-
man drove in his gig round London, to Bow on the east,
Hammersmith on the west, Hornsey on the north, and
Dulwich, on the east, he would find in each of the direc-
tions he had mentioned, and on the estates of many
societies, ample evidence of the necessity and benefit of
the stringent restrictions laid down by this being
enforced. On the Ealing estate two houses had already
been built, six more were in course of erection, and at
the expiration of 12 months, no less than from 20 to
25 would be completed. With respect to the last purchased
estate, St. Margaret's, near Richmond, it would, indeed,
be a great pity to raze to the ground the beautiful man-
sion lately erected by L )rdKilmory, yet he was barbarous
enough to say that, in the event of their not being able
to dispose of it to the advantage of the society, down it
must come. He (Mr. Lewis) would just state a case,
showing the advantages held out by this society : A
member took an allotment, which cost him a share and
a half, viz., 781. Bs., and paid one-fourth, 191. 12e.
It would take him 71 years to pay off the mortgage,
and 5 per cent. interest, by monthly instalments of 155.;
therefore, take interest on the 191. 12s. at 5 per cent.
for 71 years, 71. 10s., the difference between the ground
rent he has actually received, and will receive, of 7/. 10s.
a year after the first, and his monthly instalments to pay
off the mortgage amounted to 181. 155., interest thereon
41. 25., making a total of 491. 19s. He thus gets, at the
end of 71 years, a freehold ground rent of 71. 10s., worth
at 25 years purchase 1781. 155., which has actually cost
him out of his own pocket only 491. 19s. He (Mr.
Lewis) then concluded, by saying he had no doubt that
the future of the society would be as prosperous as its
youth had been vigorous, and that, by the • combined
efforts of all, it would accomplish all the beneficial results
expected of it. (Applause.)
The drawing of the numbers then commenced, and
were declared by the Secretary, viz.:-6,265-6-7, 552,
5,567, 1,574, 3,871-2-3, 1,656.7-8, 2,973-4, 1,281-2,
1,406, 4,806, 1,557, 2,888-9, 2,890, 691, 3,581-2-3,
645, 4,678, 1,679, 3,762, 4,279, 4,571, 3,556, 3,905,
2,863-4-5, 559, 6,143, 2,984.5, 5,929, 1,609, 1,610,
4,913, 3,934, 7,052-3, 3,200, 3,202, 4,569, 4,570,
1,130-1, 2,413, 510, 1,220, 6,011, 4,345, 3,059-60-61,
1,120, 6,433, 3,156, 5,546, 5,727, 4,383-4, 6,343,
6,389, 3,945, 6,644, 1,878, 5,535, 5,810, 5,353, 6,781,
2,452, 1,501, 3,074, 3,118, 4,779, 4,780, 6,524, 1,644,
5,601-2-3.

A vote of thanks was then awarded to the noble
Chairman, who acknowledged it, and the proceedings
terminated.