The Sun.
London, England, 1857-12-18 00:00:00

CRYSTAL PALACE COMPANY.

[The following appeared in part of our impression of yes
terday :—]

An eseraordinary meeting of the shareholders was
held this afternoon, at the Bridge-house Hotel, to elect
four new directors, on terms of the resolution of ti e
general meeting of the 18th Aug. last, to receive a re•
part from the directors, and to consider the propriety,
and, if thought expedient, to authorise the directors,
under the 11th section of the Crystal Palace Act, 1856,
to effect agreement with the proprietors of shares in the
company, for the conversion thereof into tickets of ad-
mission into the building and grounds of the company.
The following gentlemen offered themselves for seats
in the direction :—Mr. Henry Sandford Bicknell, Mr.
George England, Mr. Charles Horsley, Mr. Reginald
Read, Mr. E. P. Spiller and Capt. E. Walter. Most of
the addresses, issued by the candidates were very divert-
ing, promising all sorts of advantages to the shareholders if
sent into the direction. Mr. Spiller enforced his peculiar
fitness for the office in the following terms :—"ln addition
to my pecuniary qualification I have for many years
taken a deep interest in the promotion of the fine arts.
I have travelled all over Europe, an d have visited the
principal cities and towns in France, Belgium, Holland,
Prussia, Austria, Sardinia, Switzerland, Naples, and
the Italian States, and spent a considerable time in the
inspection of the public buildings, museums, galleries
and collections of art in those cities, especially those
of Florence, Pisa, Dresden, Milan, Venice, Genoa,
Rome, Naples, and Pompeii. Notwithstanding the
earnest appeals of expectant directors, and the exciting
addresses which were printed for distribution, the atten-
dance of the shareholders at the commencement of the
business was very scanty.
Mr. T. N. FARQUHARSON, chairman of the Board of
Director, presided. The report an (abstract of which has
already appeared in The Sun), was taken as read. He
said that the principal question which the share-
holders would have to consider was the taking
up of the debenture stock, for unless the share_
ladders did this there would be very little use in die.
cussing the remaining business for the whole interests of
the company were involved in the proposition, he should
have to make upon this subject. He found that
Mr. Fuller had published a letter in which the fol-
lowing statement appeared—" If I read the report of
the directors correctly it appears that they have now
brought the affairs of the company to a stand still un-
less you will immediately place at their disposal 220,000/.
more." Now that implied that debts had been contracted
and that this was wanted to meet them, but such a
statement conveyed a totally erroneous impression.
He might state that the capital of the company had
been practically closed since 1855. Everything had
been paid, and at present there was no undisputed
accounts. Every debt that had been incurred had been
paid out of revenue. The• capital in round numbers stood
thus at present :—Original capital, 1,000,0001.: bor-
rowed money on debenture debt, or what the directors
now proposed to substitute as debenture stock,
250,0001. ; preference capital, 150,0001. ; making
a total of 1,400,000/, Against that they had
the freehold of the building, with 200 acres of
land, the building and its contents, and the
surplus revenue for the present year of 10,0001. or
12,000/, He asked the shareholders to protect the
directors from incurring temporary losses in order to en-
able the company to tide over its present difficulties.
of
meting
this object,3 and requests
Since the publication of the report he had received nu-
is
merous promises of support. The Duke of Devonshire
had proposed to take 2,5001. additional stock. Ile
moved the following resolution :
" That in the opinion of this meeting it is of the utmost
importance for the interests of the company that the
plBlesgg' es itself to
should be
balance of the amount of debenture stock, authorised by
tut
forthwith
i/
tess obleusttisounbos
endeavoursaf
subscribed,
itbled,meetingto
on dattain
h July
the directors to provide a form of application for subscrip-
tion to the stock to each shareholder in the company who
has not already taken up his allotment, with a copy of this
resolution, and with an earnest appeal to come forward
and lend his aid, by himself and his friends subscribing
to the stock; and in order to secure the substantial relief
of the company, it shall be a condition of this subscription
that a sum of not less tha,a 120,000/. on the whole shall be
subscribed before the individual subscriptions shall be held
binding."

After a slight discussion of an amicable nature, the
resolution was carried unanimously, a remarkable cir-
cumstance in connection with the meetings of the com-

pany.
The CIIAIIIMAN moved the second resolution, as
follows :—" That the terms of the report presented
to the mee ing to-day to the board of directors, be, and
are hereby authorised to azree with any proprietor for
the conversion of the shares in the company into tickets
of admission into the building and grounds of the corn
piny, pursuant to the 11th sec. of the Crystal Palace
Company Act, 1856, and that the board of directors be
requested to pass a resolution authorising adinision by
these tickets to the palace and grounds on Sunday after
noons as a gratuitous privilege, and without any money
payment Lo be made directly or indirectly to the com-
pany for such privilege.
Mr. BILLINGS asked if the eating and drinking was to
be permitte l on Sundays ?

The CHAIRMAN—Yea, under Christmw.day and Good
Friday regulations.
Captain YoIJNG moved an amendment, " That the
admission of visitors to the Palace and grounds on aoy
part of the Sabbath, by any means, was a violation of
the law of God. (Hisses and cries of "Os, oh )
Tois, in a commercial nation," Ste., &c. The mover
was proceeding to refer to the commandments forbidding
work on the Lord's Day, when
A SuArtstuoLDEn suggested that the less theological
the argument was made the bitter.
The CHAIRMAN also urged on Captain Young the
propriety of abstaining from discussing the question in a
theological manner.

Cre.tain YOUNG said the proposition was also in
violation of the charter. He adopted his present c. urge
from a desire to do to hieneighbours as he wished to be
done by. He believed such a course as that proposed
by the directors would be a serious injury to every
class of the Community. He denied that they
were to look at the undertaking as a commercial
transaction only and ignore the law of God. It was to
that, be believed,
they had to attribute much of their
present unfortunate difficulties. (Cries of hear, hear,
no Eseter-H,all lectures, hisses, &a., &c.) Tee hon.
gentleman continued to address the meeting, amidst
considerable disturbance, saying that the voice of the
public was as
.30 to one against such a movement.
The CHAIRMAN said that he approved of doing to his
neighbour the same as he wished to be done by. He,
as director, possessed the privilege of entering the
grounds on a Sunday, and availed himself of it every
Sunday from living in
the neighboorho ed, and Le
wished to extend that privilege to the hareholders
(Hear, hear.) The charter did not contemplate
the admission of shareholders, and with ref rence to the
clause in the charter closing the Palace on Sunday, it
had been stated by the Earl of Derby that it was intro•
duced under a misfalte. (Elcar, hear.) Tne shareholders
in the Crystal Paltce Company only asked for the privi.
!ages enjoyed by the fellows and members of the
Z rological and Botanical Gardens.
Mr. LOWE considered that Captain Young had been
used exceedingly ill by the meeting
in not lis-
tening to- him, He (Mr. Lows) was opposed to
his brother directors on this point, both in,a religious
and commercial point of view, and he proceeded to
argue that as a commercial speculation the proposed
change would result injuriously to the undertaking.
He believed it would cost the company 30,0001. to
gain 5001.
The CHAIRMAN said the result was a matter of specu-
lation. He believed the result• would be different to
that stated by Mr. Lowe, and he asked the company to
try it. If it.was found to be a failure they could easily
retrace their steps.
Af ter_sOnle further cliseusaion the amendment was
negatived by a large majority.
Capt. Yourra demanded a scrutiny. Every share-.

I) 11 CE r B E •
8, 1 8 5 -;

holder should have permission to record his views on the
coestion.
The CHAIRMAN said it could not be done personally.
It must be by requieit:on of 12 shareholders holding 300
shares.
Mr. BUCKLEY propreed another amendment—that
the admission on Sundays should only be to the grounds,
and not to the Palace and grounds.
Mr. BELLEYS said the distinction was like admitting
the public to hear Mr. Spurgeon in the Surrey Gardens
and Aot in the hall. (Laughter )
Thd CHAIRMAN said the stalls would be closed on
Sundays.
This anlen.iment was also negatived by a large
rnaj of ity.
A SHAREHOLDER suggested that a Sunday admission
should be considered a " double one" in the case of
married men—(laughter)—that they might take their
wives there free—(laughter)—giving 61 admission for 60.
Mr. FULLER said that in a commercial point of view
to improve the property, the admissions should be 100
instead of 60 for each share, as proposed by the
directors. He moved an amendment to that effect.
The CHAIRMAN said that as the value of the shares
rose, the mode of admission might be altered.
The amendment was negatived by a large majority.
Ultimately the original resolution, was carried by an
overwhelming majority, four only holding up their hands
against it.
The CHAIRMAN said that railway communication to
the Crystal Palace was of vital importance to them.
They all knew that the West End Railway proper would
be opened for trafficiu April. Another project was under
consideration, viz , for the extension of the Battersea sta-
tion to the Chelsea side of the river by a bridge aeross
the river, and then along the Grosvenor Canal to a sta-
tion within a few yards of Buckingham-palace, at the
end of Victoria-street. They were not to be asked to
contribute towards this undertaking, but a suggestion
would probably be made at a future day that the
railway company should be paid a small amount for
every passenger conveyed by them to the palace.
The meeting then proceeded to the election of direc-
tors.

Mr. BILLING suggested that one of the new directors
should he an artist.
The CIIAIRMAN then announced the names of the can-
didates, and the amount of their Shares :—Mr. England,
377 ; Mr. BickneP, 356 ; Mr. Horsley, 200 ; Mr. Read,
107; Mr. Spiller, 337 ; and Captain Walter, 100 shares.
The names were put to the meeting, and the
chairman declared the show of hands to be in favour of
Captain E. Walter, Mr. Bicknell, Mr. Spiller, and Mr.
Horsley.
Mr. READ demanded a poll, which was granted.
A !vote of thanks to the chairman terminatud the
proceedings.