The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-06-09

roon coul he had to meet the rapid growth Of the
p'sehsse IL II Italian Opera House. Astor place. at
cost Of IN the month Of January, 1868, whch
81 y Smsn TS ., IN cash wn
street. It this time sold by your trustees TO the
Nassau Barl for $l09 O00.
to be subs ns and susceptible of alteration suit
purpcf entirely Your board therefore, the ques-
ton OF its demolition and the erection of wholly
structure or the alteration Of the interior and the i'm
OF its exterior decided from motives Of
nomy upon the latter The cost Of the alterations
with the entire furniture of the building has amounted
to -. To meet this large expenditure, beyond the
means Of the association, determined to issue
stock and solicit its acceptance at the hands of
chants in the confident expectation that should thus
be promptly placed in position OF financial Thus
far the amount subscribed Is $50 600 leaving at this
fsai deficiency OF - which your board confidently
cys will be much further reduced by the continued sale
~ stock The income from rents thus far arranged Is
Sc zoo Though the estimate to be at present formed Is
thai when all the apartments their disposal shall be
tenanted total receipt OF SO 600 per annum may be
safely counted upon
Your trustees would In conclusion ask your especial
attention 10 the fact that the aim of this aton s
no other hsn 10 fulfil at the earliest possible period the
requirement Of its charter which the app
cation Of the nre income of the property held by to
the purchase Of books, scientific apparatus &c TO he
placed in the BUILDING for the and benefit OF the Mer
debt.
The conveyance Of the perpetual enjoyment Of all the
literary privileges of the library to which the possession
OF share of 500 entIes the holder, without annual
charge. 1.-THE being trarsferable), renders your
stock Of high value to those who properly appreciate
such advantages and as in the issue Of these shares
the only means of fastening the suspicious moment
about referred to is found, your trustees would, In
closing their report respectfully solicit the support of
Jour influence, and far practicable your active
operation in the increase OF the number OF our
schters Respectfully submitted.
WILSON G. HUNT, President
tAAs. F. minor, Secretary.
Hon Mr. BRoIuIa the smaller ho IA ed
the meeting He reviewed at length the history Of New
York from the earliest period of it's settlement down
the present time The founders of New York from
land OF honest traders they brought with them the
maxms and habits that had made Amsterdam great and
would make New Amsterdam greater still. In abiding
to the sae of Manhattan Island made by its in
1895 to theDutch West India Company, for the Of
S24 he said that il honest sale for though
men might sncer at such inadequate Price yet il $24
placed ut compound interest at tlat time they
would have increased to handsome by to-day. In
1851 the largest and most capacious ship then on the
ter built in America 1t two centuries after be-
fore the shpbuilders of New York commenced building
ships lie the '.New Netherlands" The speaker here
commented on the emigration to this countIy-made up
as it was of many different races-and the compre
hensiye liberal spirit which consequently characterized
ment established in 1853 followed by the bnrghershp
in 1887 ana brought his hearers down 10 the rule
policy But in spite of the incubus OF foreign adinui
tratiOn, New York continued to holi its The
speaker next briefly reviewed the revolution and the
that led to 1.-THE stamp actand the meeting Of
the first American Congress- whose preliminary step
to establish The rights of the people The example Of
New York here the other colonies for the whole
city up in opposition to the stamp act.
Mr. Brodhead next mentioned the establishment of q
Chamber of Commerce, and pointed out its usefulness
ana influence on the community lie noticed the inven
ton of steam and tho progress made in this country in
steam navigation and in railroad travelling lie then
entered at length into detailed statistics comparing the
the revenue the imports and the tonnage of
New York to-day, with what it was fifty years ago.
showing the material advancement and prosperity of
the city He alluded TO its commercial greatness and
piideG himself that the best commercial maga zine
Hunts Atrchdats-was edited and published ia New
York The speaker lastly gave historical sketch of
the Mercantile Library Association. He said that
rs first meeting was convened in response to the call
which has for so many years been conspcuouy posted
in tie library AS an interesting relic Of the past 1t
held at the Tontine Coffee House. Wall street Nov g.
1890. c. C. Can,breeng presided. The number of per.
sons present was about two hundred. After the custom
airy speeches, committee was appointed 70 report
plan OF organization. subsequent meeting was held
on tie 9th OF the same month"; at which the constu
ton was adopted and the frst officers chosen. These
officers were men OF sterling merit aud untns energy
Their frat movement to enlist the symp athies Of
men who could serve them, BY comforting tie c0mp
iespec able and influential in the city, chiefly
Among these were John jacob Aston, Philip Hone, C. c.
lambfei9n eng, iona. Goodhue, Richard Varcs James
BE orman, John Haggtrty and others TO each OF the
honorary members n circular addressed advising
hem Of Il cir election and soliciting their cont buttons
Of books aud money A committee OF three vss also
appointed at the time 10 draft address 70 pub
ic having similar object in view. These appeals were
onded 10 in liberal manner, and the board
couraged to take lease OF apartment No. Az uton
street. for three years at annual rent OF siay This
com was opened TO members Feb. - 1921, at which
lime donations had been received OF books and money
which enabled the Boad Ia display hundred vol
for the Of their subscribers The NUM- u vas
increased before the year expired to one thousand Tue
donations in cash from November 81 1920 to November
., 1871, amounted TO $500. This all or nearly
ALL invested in books the receipts from member have
been sufficient TO expenses The first librarian re.
ceveQ salary of SlbO The war
not obtained without vigorous exertion The city
and the directors with accord set about
their association TO public regard In add
ton to this labor they delegated alternately tive their
number to remain at the library every evening We are
mainly indebted to these men for the privileges
enjoy Had they displayed less wisdom in conceying
or less energy in carrying out their plans, the insu
ton must inevitably have been crushed Under the weight
OF Obstacles that impeded its progress They carried
their offspring through the eventru year 1921 in
triumph and finished their work by presenting an an
nual report in which it stated that they numbered
1'5 members, and possessed 900 volumes, and that
several OF the principal publishers had generously
agreed TO present the association with set of every
This the first year Of the Mercantile Library Asse
citation The speaker then continued its history aud
progi ess-its removal to the house Of Harpers Gill
street, and final removal to the Clinton Hail. corner Of
Beekman and Nassau streets in 1928. The number of
members then twelve hundred and the library CON
tanned six thousand volumes It continued to flourish
there until in 1858, from the city moving up town it
found necessary to alter its situation again and the
Astor Plrce Ppera House purchased. Mr. Brodhead
the new puulng ts c0nVenences
the purposes of library and concluded his remarks by
passing high eulogium the institution, and the al
mrable way in which 1t was conducted
The Recording Secretary VIM. GuIlpER then read the
following
REPORT OF THE MERCANTILE LIBRARY ASSOCIATIONS.
beg leave TO submit behalf of the ,ard of Drec
ton of the Mercantile Library Association brief state
men o. the condition and affairs Of the library at the
present moment The total amount of members entitled
the use Of the library upon the LIST Of June last
!, 407 as follows
.......................... Io3
subscribers to the stock OF old Clinton Hall ~ 2s3
-" Of new Clinton Hall ..... 600
OF that number, little exceeding one half are com
posed of those for whose benefit the institution
especially founded-the merchants clerks The removal
oil The library TO more convenient location it is sup
posed viii lead to great increase of membership from
the up town residents Of that class.
Among the members OF the association there are also
number of female subscribers.
Our rooms in The old building we're little calculated
during the last few years. to atttact an acquisition OF
female subscribers, nevertheless have succeeded