The Sun.
London, England, 1856-01-04 00:00:00

par, and preference shares at o, r under one premium, which
shares are to be cancelled and •writtea off the books of the
company."

" SHAREHOLDERS' PRIVILMGEK, IF EXERCISED B-EFORE
THE 30T ti APRIL, 1836.

" That admission for life, on sixpenny and shilling clays,
be obtained by the transfer of one share.
" That admission for life, on all occasions when the. pub-
lic are admitted (except during tho May musical festival)
he obtained by the transfer of two shares.
" That admission for life, on all occasions when the pub-
lic are admitted (except during the May musical fest Oval)
with the power of introducing one friend, be obtained: by
the transfer of three shares.

" That admission for life, on all occasions when the - pub-
lic are admitted (except during the May musical festi val),
with the power of introducing two friends, be obtained: by
the transfer of four shares.
" That admission for life, on all occasions when the pub-
lic, are admitted (except during the May musical fes' rival)
with the power of introducing three friends, or family
ticket, be obtained by the transfer of five shares.
" That shareholders he allowed to walk in the'z own
garden on Sundays; that refreshments be supplied to them
at moderate prices ; that no intoxicating beverages be sup-
plied on that day.
" Shareholders not availing themselves of these privi•
leges by Christmas, 1556, may do so by Christmas., 18•57, by
transferring double the number of shares, and by Christ-
mas, 1876, by transferring three shares, where one will
now suffice."

He concluded by moving resolutions in accordance with
the above.

Sir J. PAXTON defended the charges that had been
brought against him. He never had any idea of inducing
the company to purchase land surrounding the Crystal
Palace for their own purposes, but because he was satis-
fied that that land would be very valuable, and woulal pay
the company for the expenditure. They had made
50,0001. of such land, and had they adopted his advice,
and kept it a little longer, a larger sum would have been
received for it. He had a. desire to become the pur-
chaser of Rock-hills, but on his finding it was objection-
able he withdrew. What had done with reference to
that was straightforward and honourable. He said that at
the former meeting A lderma a Wilson had said he (SirJ.
Paxton) drew 1,0001. a-wee k from the company. ne
called on Alderman Wilso a to prove that assertion.
(Hear, hear.)

Mr. Alderman WILSON sa id it was for Sir J. Parton
to prove he did not receive it. (Hear, hear.)
Sir J. PAXTON said that statement was false—not
only was it false, but the Alo'erman knew it to be false
when he stated it. (Hear, hear, and cries of oh ! oh !)
A SHAREHOLDER suggested that that statement should
be withdrawn. (Hear, hear.)

Mr. HousLEv addressed the meeting on the general
questions at issue, urging that something should be dons
at this time of the year to make the Palace attractive,
by turning it into a winter garden. It should be
made a national concern,, as well as a corn.
mercial one. Of the Commit'ee of Investigation con.
sisting of nine shareholders, five were favourable' to the
directors' plans, and of the other four, two declined to
act ; so that out of the nine persons, there were but two,
Mr. Price and Mr. Fuller, who actually represented the
shareholders, and these were the two persons who dis-
sented from the report of the committee presented tee the
meeting. He contended the shareholders ought to insist
on a full and fair audit being made of the accoints, and
that the evidence on which the committee had not acted,.
and by which the gentlemen who might succeed them
might form a scheme for the better management of the
undertaking should be furnished to the shareholders. He
called attention to what he termed a wanton expen-
diture of money in building the stables and providing
refreshment apartments, from the former of which bat
521. had been received, and about 8001. from the latter.
A SHAREHOLDER called attention to a statement made
at the former meeting that the directors had loaned
25,0001. on 5,001 shares of the company. (Hear.)
The CHAIRMAN said the company had not lost 6d. on
loans, and no loans existed at the present time. (Cries
of " Oh, oh ; that's no answer to the question.")
A SHAREHOLDER said that he understood there were
20 or 30 persons present, officers and contractors con-
nected with the company, and asked for what purpose
they were there ?
The CHAIRMAN said every precaution had been taken
to prevent others than registered shareholders being
present. (Hear, and cries of " Oh, oh.")
Mr. L'roN rose to address the meeting, but was met
with hisses and cries of "order," he having spoken on the
question at the former meeting, and he HAS obliged to
tut down unheard.

Mr. SYDNEY said the shareholders were naturally die-
pleased with the position of the undertaking and re-
gretted the letter of the chairman lately published bad
not been issued simultaneously with the report of the
committee of investigation. Originally two errors were
committed, one that the police was situated at too great
a distance from London, and unless they removed the
Palace nearer London, which was feasible, they must
improve the railway communication ; and the second
was the foolish idea of improving art and science as an
excuse for a lavish expenditure of money without a cor-
responding benefit. It was all very well to get up mag-
nificent courts, and to attempt to rival the Louvre and
Versailles, but the public by far more appreciated the
general effect of the building, with the orange-trees,
and shrubs in flower, than this rivalry of other places.
He complained of the want of accommodation fur the
working classes at the palace. With regard to the open-
ing of the Crystal Palace on a Sunday he thought it
could not be done by a side wind, nor would they be able
to do so until they had regained their character, which
he was inclined to believe they bad forfeited by getting a.
licence for the sale of beer. He condemned Mr. Fuller's
system of life-tickets. It would endanger the income of
the company, Because the life-tickets would he transferred
from friend to friend who would take advantage of them,
nu matter what precautions the company adopted to en-
deavour to prevent it. He called on the meeting to sups
port the chairman and present directors.
Mr. MALINS said that he was in the habit of going
about the country very much, and the universal opinion
of the public was that the shareholders were so divided
amongst themselves that no board of directors could act
with vigour necessary for successfully conducting the un-
dertaking. He called on the shareholders to support the
chairman and directors. He thought the report of the
directors might be aocepted by their striking out the
names of the four directors proposed by them.
The CHAIRMAN said the clause alluded to did not bind
the meeting to the election of the four gentlemen named.
These names were recommended by the committee of
investigation.
Mr. MALINS thought it was not necessary for the
meeting to affirm or negative Mr. Fuller's proposition.
The admission of Mr. Fuller that the dii ectors were
earnest in their endeavour to promote this undertaking
to the utmost was sufficient for them to repose confidence
in them. Under the disadvantages of war, the money
market, bad railway communication and other things,
their income was 100,0001. a year, and wby should they
despair for the future ? They had only to be unanimous
to effectually and satisfactorily work this undertaking.
Mr. PRITCHARD urged that the meeting should insist
that the names of the four directors contained in the
report should be struck out, and that an audit should be
made by a competent and independent person.
Mr. Alderman WILSON said that if an independent
person were appointed and access given to the books
he would prove Sir J. Paxton had been in the habit: of
drawing 1,0001. a week. (Hear.)
Mr. SCOTT RUSSELL said that Sir J. Paxton had never-
drawn from the funds of the company any money besides
his salary and that of his servants under him, which had
amounted in the whole but to 17,0001. He put it to the
meeting to say whether that was sufficient for a share-
holder to rise in that meeting and impute by innuendo
against that gentleman what was not the fact. (Cheers.)
Mr. MALINS said that if the directors would with-
draw the objectionable clause in the committee of inves-
tigation's report, Mr. Tyrrell would withdraw his amend-
ment.
The CHAIRMAN said he saw no objection to that
Course.
Mr. TYRRELL would withdraw his amendment pre
ailed the report was received, but not adopted.
The CHAIRMAN said he would consent to the motion
being altered to the reception and adoption of the re-
port, except that part referring to the four suggested
directors, Messrs. Bale, lonides, Low, and Ogilvy.
Mr. TYRRELL objected. He could not consent to the
report (even with the part alluded to expunged) being
adopted by the meeting. (Hear.)
Mr. Low concurred with Mr. Tyrell, that it was the
policy of the meeting to receive the report only. With
regard to the accounts, the committee did not consider
the employment of a professional accountant necessary,
and that many of the charges brought against the com-
pany s accountant were groundless.
The CHAIRMAN, acceding to the wish of the meeting,
put the question that the report of the committee of in-
vestigation be received only, which was carried Unani-
mously, as was a similar motion relative to the directors'
report.
The CHAIRMAN then proposed the name of Mr. :Beale
as a director, on which a long discussion ensued. ITiti-
mately the following gentlemen were put in nomina-
tion :—Mr. Beale, Mr. lonides, Mr. D. Seymour, M.P.,
Mr. S. L. Sotheby, Mr. Ogilvy, Mr. Butler, M.P., Mr.
D. Price, Alderman Wilson, Mr. Etches, and Mr. Fel-
ler ; but Mr. Mortimer and Alderman Wilson were de-
clared not qualified.
he
Mr. MALINS suggested that the names precapcohssehdafreer.
directors should be pridted and forwarded to
list to fill
holder, requesting him to select four from
the
day be
tnhaemvacancies
tiunr
nt
neg dtihreeoltiisotns ,aarinddthtehadeclaration of the
numbers. (Hear.)
suggestion the beat
Mr. BEALS considered the above
to be adopted.
In answer to a question,
The SOLICITOR said the election must
mustbe first by show
am
of bands, and afterwards, if by ballot.
Mr. FARQUHAR (director) moved a resolution in ac-
cordance with Mr. Molina suggestion, and that Mr.
Tyrrell and Mr. Beale be appointed scrutineers.
Mr. FULLER seconded the motion.
The motion was carried unanimously.
Mr. MALINS said he hoped a committee of 10 would
be granted Mr. Fuller to investigate his schemes.
The CHAIRMAN said the motion could not be
.enter-
tained at that meeting.
After some further business, powers were given to the
directors to obtain the passing of the bill (submitted to
the meeting) affecting the power of the company, the
capital, &c., by
,which the latter might be increased to
1,433,333/.
The haeetius shortly afterwards dispersed.