The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-12-14


ing to those who govern and possess ieduense the
accomplishment Of the task of Cancellation, wsll
a the correction Of abuses and false state Of pub
lie opinion Az We have said before, the slavery
question 10 Oh ,oles with the democracy and rs no
question Of principle divides them. it is due to the
character Of the party that they shouli unite in
giving to the President of their choice, fair and
honorable supports regardless of the FINAL disposition
of patronage which the constitution, and the will
Of the people, have placed in his hands.
The ART USIoN-THE SALE OF PIGTUREs-cHE
PROPERTY ACKNOWLEDGEMENTS STILL AHEAD.-
During hree days Of the present week-W Wednesday,
Thursday, and Friday the pictures of the Art
Union are to be sold vi der the mortgages, we pre-
sume Of Mr. Cozzeps the president, copies of which
we publish in another part of this days HERALD.
From these documents, il would seem as if the pro-
perty did not belong to the subscribers but was
pledged to the PRESIDENT and that if the sale do not
bring the amount ofthe lien, Of course the subscri
beers will get nothing That it will not bring the
amount, or alleged amount, is extremely probable,
for there is every prospect ofts being sacrificed and
no doubt We shall hear q melancholy account Of
what the managers and president have lost by the
transaction.
Thus it is that the Art Union promotes art.
vast number Of subscribers pay five dollars each TO
wards the advan cement sf the fine arts, and Of
course expect, according to the Inducements held
out to them by the managers, to derive benefit
in return But the property bought with this money
is mortgsged to the president, and is to be sold
by auction, and suppose the subscribers may
whistle for their shares. What was the necessity
for the juggle of two mortgages? Was it to defeat
the action Of Mr. Bennett still pending against the
managers, for the purpose of having the property
fairly divided org the subscribers! What was
the necessity for any mortgage, when, are
crediby informed there is . surplus fund of some
$75 600, be the less, in the possession
Of said managers, under their control! 1t
is stated, by those who ought to know, that
every year portion OF the receipts has been
set aside for the oslepsible purpose of purchas-
ing pro perty for the advancement of the objects
Of the insti.u ion-for instance, place to exhibit
the pictures in, and transact the business relating
thereto In one year, it is said much as $40 900
were set aside, and that eight. en- months ago the
sum of SIC, 0O0 was accumulated. In the advertise
ment for the sale tue pictures aud the distribution
Of the proceeds, there is no mention made Of the
distribution Of this surplus fund 1t is urged by
the managers that according to the constitution of
to have sry interest in the property unless they
renew their subscription for the next year II this
be 90, and if there should be no new Subscribers
for the ensuing year, which is very ualike- |
~, to whom then will this surplus fund
belong at the end of the present year? To no
one-not even to the public charities, for that mas
already been decided. Is this large sum of money,
then, TO be left in the hands of the managers, or
=. j. 49,
have undoubtedly right to it until the period Of
their subscription expires but after that they are
lone with it; and therefore it behooves them to
look sharply to their interests during the in
terim According to the constitution, a majority Of
the managers to re main in office, and we sup
pose that those, too. who 60 out by rotation, will
continue in power til, their appointed
and as that is never likely to hapoen their tenure
Of Office viii thus be indefinitely prolonged.
For the present, this looks as If the maua-
gers had got the whip hand Of the sub
scribers and the public. But the day of
reckoning is yet to come. There is suit still
pending sgainst them, in which the editor and pro-
prietor of this journal, James Gordon Bennett,
who sues well behalf of himsef of all others,
members creditors of, subscribers to, share
holders in, the Apollo Association or the American
Art Union, is plaintiff In this suit Mr. Bennett
asked for fair and equitable division of the proper
ty among the subscribers, and prohibition Of the
distribution by lottery, at the same time seeking
for injunction to restrain the managers from dis
porting of the properly till the suit was determined.
The suit is not yet tried, but the ipjuxsiion was
dissolved by Judge Duer, on the ground that Mr..
Bennett was party himself to the ileg atty, as
holding the rights of subscriber and, therefore,
beirg entitled to nc redress poiLt that has been
overruled by the Court Of Appeals who, in deliver
ing judgment upon another suit brought against
IL ese ansg gers by Mr. Blunt the District Attorney
held that the subscribers not responsible for
the illegal acts Of the managers, tde institution
beipg legal in ttelf This action of Mr. Blunt was
brought after Mr. Benefits and for the purpose of
fores.apg it. It's professed object was to have the
property confscated to the people, and divided
among the charitable institutions But this the
Court Of Appeals declared could not be done, and
fully sustained the views of Mr.. Bennett and the
grounds on which his action was brought, though
that suit, as we have said. has not been tried.
The managers Of the Ar. Union will be, TIT reiore,
still held answ cradle for the property, and for all
tho ses that may be suffered by the subscribers,
and the present sale Of the pictures will not exempt
them from that liability. They will have to give a
full account to the last red cent and they will find
out, in the end, that it better for them that
the Injunction sought for by Mr. Bennett had been
allowed to remain on the property, which would
have the effect Of saving them from all further re
aponsiblits in regard to it, whereas now they are
bound to make good all losses caused by the sac
Rice Of the property. or otherwise.
We trust that those subscribers who take an
interest in this affair, and wish to zee justice
done to themselves and others, will send in
their names to Mr.. Galbraith, the plaintiffs
lawyer in the sut, which is brought not only
for his benefit, but for the benefit Of all sub.
scribers, creditors, or Others interested. l. is
necessary to be on the alert, and not to lose sight
Of go mu.h valuable property.