The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-10-16
CIRCULAR.


The stockholders of the Library Company OF PHI
ladephia are required, the 10Th of october, to
vote on certain resolutions proposed at a meeting OF
stockholders held on the 9th instant
We beg to call your attention to what we deem the
material questions. Every one recognizes the i'm
portance OF an adequate building for the library and
also of an endowment for the purchase of books,
especially those of the character recommended by
Dr. Rush.
II this company shall fail to accept the provisions
of the will, the only consequence will be that
building Will be erected, endowed, and administered
by persons not constituting the directors of
pany. Every one will have the same use of the
building and books that he have If this company
accepts the trust And unless we are prepared to
remove our whole collection to Broad and Christian
streets, we perceive no one motive for an accep
tance.
For we must still maintain two establishments:
one at which our members can resort and the other
as a receptacle for books not intended for ordinary
use to be kept at the new building, which is to be
in remote place suitable for students to retire to,
but SO entirely out OF the range Of common people,
as to practically destroy such use OF 1t as we have
been accustomed to.
The resolutions numbers l, o g. do appear to imply
that acceptance is conditional on our retention
OF the liberty TO maintain library at another and
But when it was proposed to vary these so far as
To make that an express condition OF acceptance, il
was not agreed to- and we therefore calyour atten-
ton to the fifth resolution, and ask you to vote for
that il YOU deem The right to select location dis
tnct from Broad and Christian for any purposes i'm
nortant and you should think it desirable to accept
The trust, before required to do so under the drec
We call attention to the fact, which no one will
dispute, that our right TO maintain separate
assent OF the executor, but on the meaning OF the
will. He has no power either to impose or release
the obligations there defined.
'T6ere are other considerations we deem most
Weighty in determining whether to accept this
trust now Tae % s e G ne 10 S e
building, and this discretion has been exercised by
selecting Broad and Christian streets as the most
suitable spot in the city for the purpose.
When he has completed the building, the whole
details of which he is bound TO retain under his dis
erection, and which discretion he cannot trammel for
the future by any agreement even If he desires to
do So the will directs him TO convey 1t TO the COM
pany as trustees, when they are to assume certain
obligations If they violate them, the building Will
pass into other hands, aud with it, all books, II there
shall be any, which have been purchased WIN the
funds coming from DR.. Rush.
Tbere are Some of these conditions which deserve
consideration, out might be submitted to as the price
OF liberal endowment funG II that were ceIGalli 10
exist. Such as, lst A prohibition 10 increase the
number OF shareholders, when may result III tue
elective franchise being mOnopolzed Dy aieW VINO VINO
think they see some advantage IN cOnUroillnS thls
corporation and its funds "a, RESTRICTION on
the qualification of directors, which may result
whether the testator has not made it imperative
that II accept shall use his OullunB as Ihe sole
depositary for our books. Ihst ne S1PeGteu 10 ~
serious question; and this cannot be waved OF
released. But there are both express ana Implied
conditions which greatly fear may be rulnous OF
which il is absolutely out of the power of any
man now TO decide the eject, seeing they depend
a state OF facts as they will exist many years
hence.
The will certainly in terms directs the whole of the
estate, except fund adequate TO pay annultles 10
be expended in the purchase Of the lot and erection
OF the building.
There are those who think this is not the meaning
OF the VIII, and we hope they may be right But we
rear mat as the words express so does it appear
TO have been the final intention of the testator II
THIS be So there will remain q fund yielding about
SlOVoO per annum, which the company will begin TO
receive when and as the annuitants die 10 maintain
the expenses OF this splendid edince and purchase
books II u be not So there viii remain so much as
Is NOT eApended IN building The futtllty OF esti-
mated expenses OF such an nndertaknp need not be
remarked OF.
1nis company are now asked 10 assume these OBJ
legations, certain In liability with absolute uncer-
taiDty Of means, and duty 10 publish at least ave