, 1874-12-06
PUBLIC LIBRARY.

6oIt'A
MEETlN0 OF TEE I0At:D Or DIuEcTohs.
Tue Board Of Directors Of tAe Chicago Library
held a meeting resteriny afternoon in their
rooms in the Library building on Wabush ave-
uue c,rucr u a1aiison street. Mr. iloSne pre-
sided.
4 coulmu,lication waE read from the United
States COMMISSIONER Of Patients in relation to the
supply Of bound ybiumes and drawings OF patents
issued. The Commissioner reminded tile Eoard
that little bill Nas due and must be 1l4uidated
before further supply would be 1emittel. On
motion $25 was appropriated to meet the bill,
aud procure additional volumes.
a communication from, the Rev. Mr.. George
Cheney, Of the Methodist Episcopal Church, re-
siding at Evanston, asking privilege to draw
bouka from the Library, WAS referred to the COM
nittee OH Administration with power to act-
F1sAsc1AL.
The Committee Oh Finance submitted report
o! which the following is digest: Al e1anii-
nation Of the accounts Of the Library with the
Comptroller shows that the available credit bal
nnce has iwindled down to 60 insignificant an
amount that the Grayest apprebenslons as to the
future Of the Library present themselves. From
the comptroller's books it appears that, deduct
ing all outstanding warrants not yet
paid, and also that proportion of the
Gsge indebtedness to the city with which this
Board ia charged. the cash balance of the Ii
bra1y fund Dec. l, 1874, was only IS, 1-o4. Be-
aide this sum there remains to their credit
upon paper the amount Of uncollected taxes
falling to their share. Thus Of the tax
levy Of 1872 sum OF S10,5 500 remains uncot-
1ected to this day. The Committee fails to see
how these credits on paper can be used as cash
assets while only one-th,rd. it ia well known ia
likely to be collected.
Assuming that S., 900 in cash will be realized
out OF these credits within fifteen months from
date. and thai the net cash proceeds Of the
f. r1.
Ell QUO (nn excess of the Compt1oller's esti-
nate), the resources Of the Library up to tho
time when the appropriation for 1875 will COM
mence coming in (about February, 1876 are as
follows:
Net credit Dec. ], 1874 tdeducttng warrants
not yet paid aud proportion Of dage's def
Esres:sa eass pioeecds of he unpaid ts:es ssst ~
E1eaed ash proceeds Of ii, 900 sppropria. '0 ~
ROD ot p 600 90
s31..91 Of
From statements made at former meetings it
il found that the running expenses Of the Li6rary
amount to almost S3o. QUO per year {includiug
end heating, $4,000, and incidentals. S,o0o)
The means at the disposal of the Board arc
barely sufficient to carry the Library
through to the end ..of the year 1875.
Estimating the amount necessary to cover
outstanding orders at $4,000, the balance re-
inaAuins for the running Of the Library from this
time until the coming OF moneys which may be
fppropr!e:edin 1875 ID only S24, 900, which ID to-
sa!iy Inadequate.
1he Development Of the Library since its OPEN
.ng, eient month sage, has exceeded the most
fact thae eapectasions. Owing probably to the
..es LUZ great many private libraries we're de-
tae tny'eu 1 ouling the great fire. the demand for
oooks mas rlsen above the highest figures at-
sa'nea sa y any other public library in tRis coun-
s1y. lhe expenditure for books in consaonanca
- we'll ss the running expenses Of he T'hrarr "nr
have grown beyond the available means % ao that
only BY policy OF the strictest retronchment
zen the LIBRARY 9A'AeA'
BE SAVED From BANKRUPTCY.
Tie COMMITTEE believes that the Library in ;ta
present condition represents the money yalna
which has been expended upon it. but thera is
70 Disgusting the fact that the means at the dis
posal Of tie Board will barely be sufficient to
coyez outstanding contracts for foreign books
and the running expenses.
Tie Committee recommended the passage OF
the Following resolutions:
That a. powars heretofore gtven either to thu h.a-