The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-06-29
DIR. RUSH,S BEOUEST.

The meeting was called for the purpose OF taking
action in relation to the endowment OF 800 by
Dr. James Rush, deceased, for the Phhadepha u
brary Company. The immediate business before the
meeting was by vote Of the stockholders to either
accept reject the provisions OF the WILL locating
the branch Of the Philadelphia Library Company on
lot on South Broad street, bounded on the south by
Carpenter street north by Christian street. anu on
the west by Thirteenth street
The meeting was a very large one, and the pro
ceedngs were listened to with the deepest attentlon
Judge Sharswood was selected as chairman, aud
Mr.. William K Whitman was appointed Secretary
Mr.. Whitman read the call of the meeting, after
which Peter Mccall ESQ., asked whether quorum
present He stated that, under the law, one
quarter of the stockholders constituted quorum,
and as they the stockholders) numbered 969 menu
bers 243 would be necessary for the transaction OF
business. II was mentioned that one stockholder
present represented 10y proxy 1S3 votes.
Mr.. Mccall moved that teliers be appointed, which
was agreed to, and Messrs William Neal and James
Biddle were selected
The teilers reported a quorum present and the
President announced that he was ready to entertain
Peter Mccall then said he desired to say few
words on behalf of the Board OF Directors OF the
Philadelphia Library Company. The board have
not been able to come to any conclusion as 10 wnat
advice to give the stockholders in the premises
whether would be advisable to accept or reject the
provisions of the will The board asked that further
time be granted to consider the matter Mr.. Mccall
thought that there should be general expression OF
opinion on the subject, ana the entire matter SnOulu
be fully considered.
piece OF Nd aaa s eres shq
building, and as soon as said building is completed
then Mr.. Williams must convey the same to the
Philadelphia Library Company. If they decide to
accept the same. Mr.. Mccall then read the proyi-
sons Of the WILL and particularly that portion Of the
codici which reads as folows:-
In trust select and purchase lot of ground not less
than one hundred and fifty feet situate between
city Of Phadeipha, and thereon to erect fire proof
@ @66g be cmpny def m
library now at the of Fifth and Library strees)
directions and specification which shall hereafter make
or give but if should not make or leave such plans,
cording his best Judgment and to the views which
should be exceedingly substantial completely fire proof
the whole interior to be divided in such
way to contain the greatest number OF books to be
well lighted and arranged as to be of and
And upon this further trust SO this building
the R 6S &
their for the and of their library
and for no other purpose whatever
Mr. Mccall stated that he understood that Mr..
Williams under the request of DR.. Rush. would
erect building on Broad street, between Carpenter
and Christian streets, and the stockholders must
| confne themselves to and make up their minds to
| accept that locality for the building. He did not
think it necessary to accept the building until it
| completed and he thought there could be no legal
acceptance until it was completed. He thought
that all the stockholders could do now was to agree
| to accept the building when completed.
| Taking everything into consideration, the board
| the stockholders to adopt middle course, and to
ST the or any o qG tie to
directors do not feel that they have sufficient light
| to warrant them in recommending any particular
action Just now; and when it is considered that at
is the first step that COSTS the directors would like
! first to know where that step would place them.
Mr.. Mccall then read the following resolution
n s braby SborEed to accept the beae Pn5 DE be
vises in Dr. Rushs will if pd when they shah deem ad
Sn sH 20 any
General Stokes then made some remarks He
stated that Dr. Rush's will provides for the endow-
ment of the Philadelphia Library. On the neglect of
the library company to accept the provisions of the
viii, separate library company, to be called the
question orcurs whether, If no action is taken now
| the Rdgway Library will be formed and the Phila-
delpha Library Company be debarred from all bene-
General stokes thought the executor of the will.
| Mr. Williams should know at once whether the
building will be for the Of the Philadelphia
| Library or the Rdgway Library II the building is
erected for the Rdgway Library, it may be totally
unit for the Philadelphia Library's use. He re-
marked that the meeting had been called to act and
| Williams may proceed at once with the Rdgway
| Library
He proposed an amendment to Mr.. McCalls reso-
Reolced That stockholders of The Library Company
of Philadelphia have heard with pleasure of the man
y that st the S sc ae1y bR
ESQ., their acceptance Of the same, with however the
expression of the wish that if be within the power Of
limits rst designated in the Will Of Dr. Rush "'Nn 'ne
Mr. Henry j. Williams then rose and said he had
| no desire to influence the action of the meeting
either one way or the other. He would feel per-
fectly satisfied whether the legacy accepted or
| rejected. He had heen MEMBER OF the Philadel-
| pha Library Company for thirty-fve years. and had
never seen any trouble ar any OF the meetings and
hoped there would be none at this II the Phladel-
phla Library Company chooses to reject the bequest
| he would be left to manage the trust himself, and
alone He thought the board had the right to accent
at once and If they did So he desired to confer with
the members OF the board at once. Heremarked he
must pay tax of $50, 600 within three months unless
certain action was taken by the Philadelphia Library
Company
Mr.. Williams stated that DR.. Rush gave him option
regarding the character Of stone to be used but he
desired to confer with the Board of Directors In re-
gard to its selection He hoped the Board OF Direct
ors would accept aud give him aid, and II they did
not he would proceed at and erect the building
at Broad and Christian streets for the of the
Ridgway Library. Mr.. " Mlliams stated that he went
from end of Broad street TO the other to select
lot, and reporting 10 DR.. Rush number OF loca-
tions, he fixed uponth one at Broad and Christian
streets.
Remarks were then ma le by Frederick Fraley Mr..
Tilghman, Mr.. Clay, JudgA Cadwalader, and others,
and Judge Hare read the following opiniOn:-
1--WE of opinion that the time the Library Com
to accept the devise under the will of DR.
Rush has not arrived until the executor shall have
anS could do no more than 1 see % neSest 2 ae
time. Ana we think such agreement should not be
Of the executors Netter asoerained and the
We think theretoie that it is expedient to postpone
Tor the present az Least any action by the Company in
which they ore required to observe to avoid
disabling themselves from accepting in accordar will
Mr. Tighman offered the following amendment II
the preceding resolution -
Resolued That it inexpedont at this time 10 tax,
any action upon cne question Of accepting the
Dr. lanes Rush upon .he conditions therein pressed
That wheneyer IN ne opinion of counsel, the proper
Directors hereby requested 70 submit it To meetns
That unti such question be decided no new shares ~
! stock in the company shall h2 issued.
Mr. Frederick Fraey, after some strong remarks
| n-ap