Wilmington daily commercial., 1873-04-08
Wilmington Institute.

Inc 10Th annuaT meeting OF the wilmington
Institute was held last evening, in the library.
Reports from fhe several ommittees wero read.
which make very gratifying exhibit OF the OPP
erations OF the Institute, last year. and confirm
aud strengthen the usefulness OF the Institu-
tion. The retiring President, Geo. H. Bates,
Esq, made his annual address.
The whole membership of the Institute was
stated by the COMMITTEES on ways and means to
Annual members, 479
bi,e tn,.," '''''''''..'. '...,.. Al
FerPetual ''''............,.......
Total 5s5
Increase the past gear, Observation-Disclosures. IA
The partial funding Of the debt has been ac-
| compllshed, as WAS recommended one year ago,
leaving $4,000 still outstanding which was taken
In eight new bonds by the persons holding the
| original bonds for this amount. and mortgage
was given to the Trustees, they having satisfied
| the old mortgage for $4,000. The annual de-
crease in the debt is thus $500. instead OF S15O0
as heretofore. This plan went into effect on the
lst Of July and on the first OF January one bond
OF $500 was paid leaving thespresent debt of the
Institute S26 900. The issue of shares of stock
AZ the only means Of membership it is believed
BY the Committee will add much to the usefulness
OF the Institute.
The 1reasurels report shows that the re-
ceipts from all sources were IS 935 70, and the
expenditures -, 1G5 60, leaving a balance in the
| hands OF the Treasurer Of S77017. The receipts
from membership were Sl9Sl from rent OF
Aal q .635 80 stores and Offices 81 9sl II Rd-
| joining dwelling, $3.50 Prominent among the
| expenses were: sll00 % for books: 1904 II for
newspapers and periodicals binding etc $780,
. salaries, = 55s 81 taxes, SSH 90: gas.
| S795 ~ fuel :l27 so interest Sl .6O2 "a; in
| suTauce. Sl9S so
/ The total number OF books, by count is TO-
| G6i-an increase from last year Of 1920 20s
@ haalNs 4 -
books were issued to members against p 100 iu
/ 1872. The Library Committee regard it as a
matter OF congratuation IN at there has been
made during the psst year much the largest
/ annual increase to tho library that has
ever been made and, also, that this has been
| dono at a smaller cost per book than in any pre-
| Tous year. The plan Of securing new books
| to members has also worked we'll, so well that
| the library.
So newspapers and periodicals are taken at a
cost OF $780, %. Fifteen of these are daily
| newspapers.
1t having been thought by the lecture COM
mittee that the money necessary to be expended
in giving a course OF lectures could be more
benefieially employed in increasing the library.
the course of lectures provided by the charter
were dispensed with
In his address, the retiring President, Mr..
Bates, submitted comparative table to show
that, while serious curtaiInent of income was
anticipated from the rental of the hall, owing to
yielded within 500, 45 Of the average Of the four
next preceding years He therefore concludes
that the effect of competition will be not 80
much to decrease the receipts as to interfere
with their former uniform and considerable in.
crease. He then goes on to consider the income
OF the Institute from other resources saving it il
somewhat larger than for past years.
The consideration OF the taxes during the past
ten, but more particularly the last three, claims
his attention. in 1864, the taxes paid for city
county and state purposes were only Sl55. 40, but
| In 1873 these same taxes have sweed to the
great aggregate Of 5G.90-more than 10 pei
cent. of the gross income, and more than u PEI
cent. Of the income derived from the propert,
taxed, excluding the receipts from numbers due
which are not taxable, and more than 80 PEI
cent. OF the nett income Of the Institute appli
cable to the purpose Of its organization, afte
deducting all expenses and payments on accoun
OF principal and interest Of the debt.
An enort was made to obtain from the Legis
lature the incorporation Of a clause in III,
amended charter 30 as to except the Institut,
| from taxation but while it passed the House Il
failed to receive the concurrence of the Senate
The President, therefore, suggested that appl
cation be made to the City Council and the Lev
] | Court Tor remission OF these taxes.
The preparation of new catalogue is advised
but not printed one. A classified card catalo
que is believed to be much the more preferable
1t is stated as worthy Of note that there ha
been no material increase in the membership o
the institute since 1861, and no great enlarge
ment of the annual dues, although the city la
| Increased at least 0U per cent and the characte
Of the city is thoroughly changed This increas
il is thought ought to be of persons who special
ly should appreciate and embrace the opportunit
Of public library, and the President hopes tina
the members will retain but one of the share
which will be given him for his own use, bu
% prevail upon other persons TO take the remain
der, thus supplying the great desideratum o
bership.
The advantages OF the Institute for youn
men without homes in the city, the improve
ment OF the library room in several particular
, and other subjects claim the attention of tn
r ! retiring President. He refers to the origins
Z scope Of the Institute the separation from 1t q
~ the Historical Society, and the abandonment q
the lecture course for the past season, but hope
that at some future time lecture endowmeu
fund will be contributed by some one
In conclusion, Mr.. Bates introduced the Pres
deRt-elect, M. M. Child Esq, who briefly rt
turned his thanks for the honor conferred, an
the regular business proceeded. The amende
charter was read, resolution providing for il
carrying into effect was adopted and after vol
of thanks to the retiring officers, the meetin
adjourned.