The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-07-13

Several Of these are duplicated, and orders have
likewise been issued for Il number of other period-
given above.
A JOint-stOcIS Concern.
The directors proposed to the members in the year
1926 that that they should resolve themselves INTO
joint-stock company. This suggestion was at once
and unanimously concurred in.
The estimated value OF the books, desks, and fur
niture was placed at $1,000, and 300 shares at $40
each issued, and subjected to annual tax Of
one dollar EACH Such of the members as had sub
scrbed only three dollars were granted the privilege
of purchasing share Of stock for seven dollars In
January, 1929, two hundred additional shares were
authorized the number being thus increased to five
hundred In 1881 there further increase in the
contributions the shareholders being then required
TO pay tax of dollar each semi-annuay, while
subscribers admitted TO the privileges OF the
library by the semi-annual payment of one dollar and
Sundry Removals and Charters.
From its first location, on the 18th day of April
1926 the library, now waxing in strength was re-
moved to the second story of the building at the
northeast corner OF Fifth and Chestnut streets It's
continued increase was the cause Of another re-
nova in october, 1927, TO rooms in the building of
the American Sunday School Union, at No. 144 Ches-
nut street. new catalogue, publishedin July, 1925
contained the titles OF 2lls volumes. During the
winter of ls2I-2S course of lectures mercantile
law was delivered under the auspices Of the assoca.
| ton by several prominent members of the bar.
This enterprise met with such success that it was
regularly repeated every winter until the year 1887
| when the association united with the Athenan
Institute in the support OF yearly OF lectures
| of more extended and miscellaneous character
In 1881 IL was again found necessary to remove the
library on account OF its increase to the building al
| No, 1874 Chestnut street; bu6 in few years these
quarters were found to be too restricted, and the
| number OF members had increased so considerably
| that measures were taken for securing large and
suitable accommodations During the year 1928 the
association had received charter from the Supreme
Court of the State, under the general law OF 1891
and the first step towards the proposed removal was
an application to the Legislature, at the session OF
1S4-42, for a special act OF Incorporation with the
grant of more extended powers and privileges than
had hitherto enjoyed. ON the st OF July, 1892 the
new charter approved by the Governor, and
| soon after new code OF laws was adopted by the
members.
The Building just Deserted.
Arrangements were then made for the erection OF
the building at the corner of Fifth and Library
streets in 1874, the lot at the corner containing
thirty six feet on Fifth stSeet and one hundred feet
on Library street, purchased and the lot ad-
Joining the above, and containing fourteen feet in
front, with a.depth Of one hundred feet, was soon
| after procured.
For the purpose Of erecting a suitable building,
the association had accumulated and put aside
building fund.- the sum OF S34O0, the proceeds OF the
lectures delivered under its auspices up to that
period. Before anything could be done, 1t was ne
cessary greatly to augment this The object was
accomplished by issuing scrip and allowing the sub
scrbefs thereto 10 hold free from taxation until
such time as they might select for converting it into
active STOCK which should entitle the holders TO the
! use OF the library. The project succeeded so well
| mat the directors soon found themselves able TO
award he contract for the erection Of the building.