Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-11-09

OF the original grant are glVen'
As will be seen by reference to an adver-
tisement the directors Of the Young Mems
Mercantile Library Association have called
meeting to be held at the rooms of the
library Monday afternoon, 18th inst. to
consider the crisis In the affairs of the asso-
citation, growing out of the pending fore
closure and sale of the hall.
Mr.. j. F. Hudson, one of the board, states
that they had been working for the purpose
of securing the postponement of the sale in
order to get more time to see if the money
cannot be raised so as 10 obtain
control Of the Judgment in which the
property is to be sold. He also stated that
it was understood from Mr.. Brunot in Sep
tember that he would have no objection if
the arrangement did not interfere with Mr..
c. j. Clarke's arrangements Further, it is
stated that Mr.. Clarke, in an interview, said
he did not wish to see the property sold, but
wished to see it preserved to the use of the
library but that since then he has seen Mr..
Brunot, and he will notconsent to postpone
ment.
If anything is to be done, therefore, to
prevent the sale, it must be done within
three weeks, and the call is issued to get
the members together and see whether. by
gift or loan, sale can be prevented. Some
gentlemen have already stated that they
would subscribe to fund to purchase the
judgment for the benefit of the library. Now
the object is to get the members aroused.
The Judgment is for $50, 900, of which S16,-
900 can be paid out of a fund the Library
Hall Company has already on hand, leaving
S50. 900 unprovided for. If that amount can
be raised. a property, at present yielding a
large revenue, can be preserved for the pur-
pose for which it was dedicated.
WHAT IT HAS ACCOMPLISHED.
The work of the Library Association has
been much restricted by lack of funds, but,
nevertheless, it has done much good. It
has kept the library open, and the accumu-
lation of valuable publications is consider
able, books that cannot be had by the gen.
eralitv of readers, and the directors express
at the result of a record kept
showing that an Unexpectedly large proper
tion of the reading done BY patrons is of
solid matter. The fiction department has
run low, and it has been ascertained that
the cheapness of this kind of reading has de-
creased the demand for it at the library.
The record shows an average Of 1873 visitors
daily and 257 on Saturday. About 30
books are taken out daily, good record for
a library that has practically supported
itself, its outside help not having exceeded
$500 since its organization, all other ex-
penses having been borne by the members
themselves. 1t is agreed that if they can
utilize the revenue that should come to
Them the usefulness of the library can be in
definitely extended.
The act to incorporate the Mercantile
Library Hall Company provides that it shall
be the duty of the corporation, as soon as q
sufficient amount of stock shall have been
to purchase gronnd and erect
thereon a suitable and commodious library
building for the use of the Young Mems
Mercantile Library and Mechanics Insti-
ute, incorporated in 1849 Y Il to be
leased to the Young Mems
Library and Mechanics Institute on the
terms:
CONDITIONS OF THE GRANT.
The Young Mems Library and Mechanics
Institute shall pay to the corporation here
" created, on or before the first day of
January in each year, all necessary repairs
md taxes to which said grounds and build
ngs may be subjected, and in addition
um not over per cent per annum on the
Whole cost of said ground and building. or
uch part thereof as shall not have been re-
,aid by the said Mercantile Library to the |
and in consideration OF the pay
nent of taxes, repairs and interest,", the |
[oung Mems Mercantile Library and |
Mechanics Institute shall forever have |
ntire possession and control Of said ground |
A,,sI = 81 Ill
lave power to sub-let the whole, or any por-
ion thereof, and collect the rent and reve-
tues, and make appropriation of the same.
Provided, nevertheless, that whatever rents |
nd revenues they may receive, over and |
bove the amount of taxes, interestand re-
'airs, shall be. paid to the corporation, to
eimburse the same for the cost of the
round and buildings; and provided, fur
her, that if the Young Mems Mercantile
library and Mechanics Institute shall, at
ny time, be in arrears for two whole years
axes, repairs and interest, then they shall
Orfeit their lease, and the corporation may,
fter six months notice to the president and
of said Mercantile Library,
AXE possession; in that event, the
ually pay to the Young Mems Mercantile
anu 0USOuaulCo 4hobiiuICy buCu |
roportion of the net revenue from ground
nd buildings, as the amount paid by the
'oung Mems Mercantile Library and Me-
hanics' Institute toward the reimburse
tent of the cost of the ground and build
lgs, shall be to the whole cost thereof, and
/ case of sale of the whole or any part of
he Mercantile Library and Mechanics
institute shall be entitled to q like proper
on of the proceeds of sale. The
'rporation hereby created may bor-
wv money to an amount not exceeding the
I'm actually paid in, and may issue its
0nds therefor; and its funds shall be ex-
ended as provided in this act, in buying
litable ground and erecting and furnish
lg proper and commodious buildings for
lie use of the Young Mems Mercantile
library and Mechanics Institute.
DIRECTORS CITE AN AGREEMENT.
On March 10, 1871, an agreement was
ade between the Y. NJ. M. L. & NJ. I. and
Ie NJ. L. 81. Co. in consequence of the net
venue of the buildings being insufficient
pay repairs, taxes and interest on the
'st that the Mercantile Library Hall
Ompany should retain possession for the
,neft of the Y. NJ. L. A. for 10 years or
1til such further time as the floating
,bt of the company should be paid
Id annual rents. etc., should reach
per cent per annum on the
hole cost OF grounds and buildings. No
large or debit was to be made to the Y.
!. L. A. for any deficiency in the net
Mount of revenues, and whenever these net
venues should exceed per cent on the
st of ground and buildings the excess was
be applied By the hall company to liqui-
ltion of Indebtedness. The net proceeds
ere to be first devoted to payment OF in
rest on Indebtedness. and second to liqui-
ltion of floating debt and mortgage bonds '
the Library Hall Company.
1t will be remembered by those interested ]
at on review of the whole subject it has
en held by some people that the buyer Of J
e property will take it subject to an in
claim Of the Y. M. M. L. &
. l., but nevertheless there is enough ! {