New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1872-12-14
A GREAT UNDERTAKING
4 CRYSTAL PALACE IN NEw-YORK.

| sCHELL LLOYD hsPINwALL AND OTHERS.
A number of the leading capitalists and
prominent merchants OF This city attended dinner at
tho St. James Hotel evening, In conformity with m
invitation signed by John A. DIX, Governor elect TO
discuss the objects and prospects OF the Industrial
Exhibition Company, and 20 confer TO the best mode
of carrying out tho enterprise effectively and success
fully The present Directors are Gen. John A. DIX,
Presidents Alex. S. D'ren, d. d. 7. Moore, VicePresi-
dents; Wn b. Ogden, j. D. Badgley, II. ii, Darkee, L.
G.. Bartlett, X. j. Todd Jewett NJ Richmond. +. A.
| Alberger The following gentlemen have consented to
net In a similar capacity shareholders meet
ing shall have been called VIM. r. Hayemeyer, T. III.
Rockingham, WIN. NJ. Vermilye, Richard schell. l.. r.
Morton, Charles l.. Tiffany, Arson Phelps Stokes,
Frederic do Peyster, Samuel Sloan Paul n. SpofOrd.
Adrian Iselin S. b. Chttenden, A. " Stout. William H.
! Webb, Henry CLOVIS, Thomas Ward. Abel A. Low,
| Richard Kelly c. Tangcr Smith, John +. Henry.
Among those present at the dinner Gen. John A.
Dix, Chauncey NJ Dopew, Gen. A. 8. Dyen, Vice-Pres-
dent Of the Erie Railroad the Hon. Samuel Sloan. Pres
dent Of the Delaware, Laokawanna and Western Rail-
road Gen. Lloyd Aspnwall, Senator Tiemann, Senator
Benedict Richard scbell, John Henry. Erasus Brooks
VIM II. Webb. and John X. Porter The first to speak
upon the subject discuss which they had assembled
was Edward McMurdy who read tho following address
| OF Gen. 4. s. Owen.
| SPEECH OF YICR-PREsIDENT A. s. OWEN.
Mr. PRESIDENT AND GENTLEMEN: by understanding
ia that we assembled hers tonight to discuss the
question whether there Is to be established in this tho
metropolis Of the Unted states enterprise that will
reflect honor upon the people of this great city or
whether we shall allow by supineness an Interior
town without natural advantages to grasp from Us tho
great benefits DO gained by thecarrying out
of this enterprise. The enterprise under consideration
here to night fairly inaugurated in 1870. aud would
have been carried through them but for tho fact that the
charter Of the company was defective. aud after being
fairly started had to be suspended Twice was the Gov
errors veto nterpossd prevent But for
fna nf
have asked or Congress granted sees Of aotsb watch
Philadelphia Is TO be h0nored aud enriched by ths hold
Ing Of Worlds Pair and BY this United Yates proclaim
Ing to all the wsri that Philadelphia is the commercial
metropolis Of this country.
Tho object OF this Company is to purchase land and
erect on the sans building which shall DO used as
pe.petnal Worlds Fair. Trade Mart Garden OF Plants.
and popular Art Museum. The City Of New-York could
afford 90 carry the obects hero set forth as city,
and would be amply repaid. The people OF Now-Y ork
could afford to spend millions OF dollars IN suoh ojects
and would DO amply repaid in the increased commerce.
and wealth. civilization waioh such enterprises in
yaraby bring But, aside from these high and patri-
otto motives there l. which Is stronger than ALL
that done IN the past and will do more In fu-
ture TO large projects aud that the love OF
gain In short II this enterprise IS carried out 1t VIII
accomplish thl. for those who aid and assist IT,
1t will make money; twill ilcrelss trad3 aad com
merco it will tond elevate aud cvllizo tho people OF
Eow-York and OF the world 10 will dignity LABOR. Tne
children OF all those that in any way assist 1t will point
with pride rld honor TO tho work which their fore
fathers planned and executed.
In 1870 the Industrial Exhibition Company contracted
for all % tho land bounded between Ninety eighth and
One-hundred and-seeondsts. and Talrd an1 Fourth
ayes comprising IN all 3Ja lots The contract price Of
this land was 81 10000 $4,000 has been paid. There
remains to be paid 10000 1t Is proposed that the
balancedue on this snail be paid with the money
raised for the sale OF stock To do this it 10 necessary
that there be sold $4,000 Of stock at 30 cents on the
dollar this will net the Company s,5DoOoo In cash This
land Will have cost the parties owning the same st19o
per lot worth, I'm 1910. taking the opinions OF
good judges OF real estste at least that amon" In
tbo two years and moro that the land has been held
IL mas IN reased value, aud good 1uigoS OF roal
estate say now that worth, not less than 5000 per
lot which would make tho as lots worth 23)ool The
prevan opinion real estate mon Is that this would
sell for 81 500 per lot s6525oO Taking the lowest Vau
alton put land by one aud there is proh' OF
$4,000 taking the highest valuation AMI there Is profit
OF 1852 in the carrying out Of this contract alone 10
has boon asked why the contract for the land could not
be extended beyond tho present limit viz Feb l, 1873
The reason is simple Tho parties owning the land can
get without doubt $4,000 moro than the Industrial
Exhibition Company called on pay Those persons
who purchase the first g. j0 Of this stock become the
absouelowners Of this valuable tract OF land and they
can dcc fe among themselves whether they will s3l the
same or whether they viii erect Crystal Palace.
As this meeting called for the purpose OF considering
not only the purchase OF the land The erection OF
trade mart or perpetual Worlds Fair and Museum it is
proper the advantages to be gained by the carry
ing out OF the whole project. have already sh own so
that it Is patent all who Interested IN or judges OF
real estate In the City OF NcwYor, that the SIN aest
amount OF profit that could DO made in purchasing this
land would be in the ueishborhood OF half million dol
lara Tblsis a large profit, and will proceed to
show that no viewer profitable the purchase OF thsland
may DO as estate venture, 1t would be san more
should the purchasers OF the lana erect onthe
same the enterprise proposed
| popuar phrase has dubbed the proposed building
CRYSTAL Palsee The acceptaton Of this name
la light airy structure OF glass aud iron subject to de-
sr,lction from different Tae buildinglto be
erected by the Industrial Exhibition Company shonld
he substantial ami drcproof and should be built In such
manner as To be readily converted into dwelling
or places OF business. To provide for change In the
uses OF the building: well as TO make 1t the more at
tractye for the present purpose we'll for economy
in construction the building should DO 25 feet deep and
should be bniIt entirely around the ground leaving
court IN the center 1t should be i've stories inhigbt
Each floor should be open floor. This would giye
space 5 feet wide and 800 feet long for each foor The
court IA the center would be twice the sizs Of Madison
square This cour. should he covered The court could
be used as garden OF plants and for places OF amuse-
ment The four main floors would be an INDUSTRIAL tx
hbiton and trade mart The top floor could be an art
gallery and museum. and public library. To make
such building Of iron the largest estimate OF cost when
included the erection the most magnificent dome IN
IL Tsa L s So OF Am o Building that viii be-
more magnificent than any building OF is kind In the
DO erected 100000 which would be an expe
OF 40 OO per lot granite building can De erecteu Tor
sun less sum, aud brick building Tor cost OF ABOUT
These figures may seem aud are large. but to fully
comprehend them suppose this were the case Ine
gentlemen here tonight purchase this land, aud they
decide that they do not wish to erect abuding butee
larger profit In selling the Lana TO indyldnals tneY
sell the 355 lots 10 many persons, ana each person