The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-10-01
THE PHILADELPHIA LIBRARY.

rue OOueCtlOu TO be OthefWtse Undtss
turbed.
To the Stockholders of the Philadelphia Lii
Drary Company;-The committee appointed on
the subject of the bequest of the late DIR. James
Rush respectfully report
That without going into the consideration of
points about which there is a great diversity of
opinion among the stockholders they have en-
deayored to reach conclusions that would prove
satisfactory.
To this end, and in order to guide them in
their labors they by correspondence and con-
ference with Henry j. Williams, Esq, the ex-
ecutor of DIR. Rush, have sought for such infor-
nation as would enable them to determine accu-
rately what were his views to the administra-
ton of so much of the trust as is placed in his
charge, and what estate and income would pro-
badly be left to be applied by the Library Com
pany when they should come to act rs trustee.
From Mr.. Williams they have obtained the
following statements. First, that the present
cash value of the estate, rs appraised by Mr..
Thomas Craven, is one million and sXty-seven
thousand dollars. Second, that the net annual
income, not including any rental for the man
sion on Chestnut street (Which is valued at one
hundred and forty thousand dollars), is little
above forty thousand dollars. Third, that the
site selected and purchased for the proposed
library building, is the lot of ground on Broad
street, bounded on the north by Christian street,
on the south by Carpenter street. and on the
east by Thirteenth street, being 300 feet front on
Broad street by 527 feet deep on Christian and
Carpenter streets. Fourth, that the building
will be of the Greek Doric order of architecture,
about so to 100 feet front by 40 to 100 feet in
depth, with wings of 20 to 80 feet in width, and
an opening in the centre of the edihce of 20 to
25 feet in width, for light and air.
One of the main points on the part of the
committee was to ascertain from Mr.. Williams
whether the question of the site was so open to
discussion as that it might be changed to q diff
ferent location within the limits originally Sc
lected by DR.. Rush.
His reply as to change of site is emphatically
in the negative. He states that the lot was
bought for the purpose, by DR.. Rush himself, for
$130.000, and that he feels bound in consequence
thereof to place the building thereon, in order
to comply with the directions of DR.. Rush.
He states, further, that his own judgment as
to the selected site concurs with that of the
testator and therefore declines to entertain any
proposition for a change
AS to the building itself he says that while
the measurements were suggested to him by DR..
Rush and accord with his present views yet he
is at liberty to change them and will freely do
so if in his judgment it shall be necessary.
The material of the building will be either
granite or white Ohio sandstone.
By the terms of the WILL very large discre-
tionary powers are given to Mr.. Williams, and
from his well-known character and long connec-
tion with the Library Company a director, it
may safely be concluded that if the company
accept the bequest, they will b. met in a liberal
spirit.
The munificent provision made by DR.. Rush
for the formation of great public library, the
confidence reposed in the company by him, IN
making them the trustees of his residuary estate,
and the fact that fire-proof building for the
reception of its literary treasures will be
secured, should all combine to procure our
cooperation to carry the plans of the testator
into effect.
At present the executor considers himself
bound to regard the company as strangers, be-
cause he is not advised of their acceptance of
the provision of the WILL or, indeed, of any such
action on their part as would enable him to
determine whether he shall erect building
suited for them and for the Ridgway branch of
the Philadelphia Library or whether he shall
found and endow the Ridgway Library.
After careful consideration of the whole
case, the committee think that in fairness to the
executor, the company should decide at once
whether they will accept or reject the bequest
and thereby relieve him from all embarrassment
so far as they are concerned.
If the company accept they will at once place
themselves in such relations with the executor
as to be able to influence to the fullest extent
practicable all his plans, and thus secure the
erection OF building adapted for their use and
the reservation of as large a fund for the pur-
chase of books and the payment of current eX-
penses the terms of the will may permit.
1t must be borne in mind that the views Of the
munifcent testator were not limited to the pre-
sent time, but are to extend over all time, as
independently of the provision for the lot,
building, expenses, etc., all the principal OF the
annuities, as it falls in, will become available fol
the purposes of the library.
1t cannot be doubted that our company is bet
ter fitted than any other corporation or any new
one that might be created, for the accomplish
ment of what DR.. Rush had at heart.
Our collection of the kind of books he favored
is already large, and will form good foundation
on which to build hereafter, and the modifca
tions of charter which he insists on as pre-
lminaTy to clothing us with the care of his es
tate are in the main judicious.
Nor do the committee perceive any difficult.
in making arrangements for the convenience o
the stockholders and the public in keeping up
library on our present site or one more general.
accessible, of the character used for circulation
and for ordinary use in reading-room
Indeed, the testator by directing that hi
money shall be applied to the purchase of book
for the Ridgway branch of the Library, has let
to the discretion of the company the disposition
of its other property in such way may be mos
beneficial to the public and the stockholders.
The committee, therefore, see no difficulty i
carrying out the plan they propose for the adoI
ton of the stockholders, which, in their judg
ment, will be in harmony with the intention o
DR.. Rush, as gathered from a fair and liberia
construction of his will, and with other dutie
and trusts which rest upon the company; an
with which, doubtless, DIR. Rush was quite fa
miiar.
We think it may be assumed with great eel
tainty, that Mr.. Williams will be induced, by tn
favorable action of the company, to adopt sue
plans and make such arrangements as will pr
up the proposed building at such cost as wi
leave about $500, 600 for the payment of the al
nuites and the constitution of fund for eS
penses and purchase of books.
When the annuities have all fallen in, and o
course this will be a work of time the capital O
the fund will be at least the amount abov
named; but it must be recollected that the estat
consists mainly OF real property, situated in tn
city OF Philadelphia, and daily increasing l
value by the growth of the city, so that pre-
vision of $500, 900, as the foundation, will 500
be largely augmented.
DR.. Rush has undoubtedly had this in viev
when he provided SO strictly against any hast