NAPIER ATHENAEUM.

Hawke's Bay Herald, Volume XXI, Issue 6282, 22 June 1882, Page 3

NAPIER ATHENAEUM.

A special general meeting of the members of the Napier Athenaaum was held last evening for the purpose of considering certain proposals from the committee in connection with erecting additions to the building. Mr J. W. Neal occupied * the chair. The Chairman stated that he had been ' requested by the committee to occupy the chair in consequence of the unavoidable absence of the President, De Spencer, who, as Mayor, had to preside that evening at the Municipal Council. The hon. secretary (Mr P. Bear) having read the advertisement convening the meeting, ' The Chairman explained the proposals of the committee. It was intended to borrow £200 on mortgage for the purpose of erecting two rooms, one of which would be leased to the Philosophical Institote and the other to the Napier Chamber of Commerce. The latter would be for five years at a rental of £25 per annum. The terms with the Philosophical Institute would be these : The Institute would give £75 down and pay a rental of £5 per annum for ten years, and £10 per annum for another ten years. The room leased to the Philosaphical Institute would be also used as a museum in connection with the Athenceuru, and therefore, considering that the occupation of the room by the Institute would bo only partial, and that it was a kindred society, he considered the rent ample. The room in the front would bo occupied ,by the Chamber of Oorameroe, the one at the rear being for the Philosophical Institute. Mr Wilson askod whether the proposed additions would include a room for the meetings of the committee of the Athenaeum r 1 His reason for putting the question was that as matters were at present the Chess Club were every now and then turned out from the room they used beoause it was required for the committee, j The Chairman said that care would be ! taken that the Chess Club was not interfered with. Mr Tuke asked whether the £200 proposed tobe borrowed would be sufficient for erecting. the additions? The Hon. Secretary replied that, with the £75 from the Philosophical Institute, there would be quite aa much as was required. As a commercial speculation the affair would bo very proflta'ble, besides which the removal into the museum of the collection of articles now in the readingroom would give more space for newspapers. The museum, he believed, could be made very attractive by increasing the collection of articles. Mr Large mantioned that the Chess Olub had been given the privilege of occupying the conversation room specially on two nights in the week, and yet one of those nights had been made a committee meeting night. The Chairman said that no doubt there had been a misunderstanding on the matter, and it would be sot right. Mr Craig moved, " That, having heard the proposals of the Athenaeum committee re additions to building, this meeting consents to the wish of the committee to borrow the sum of £200 on mortgage." Mr Tuke seconded the motion. Mr Large thought it would be practicable to obtain the money without a mortgage. It might be got on overdraft from the bank. The Chairman said that the matter had been thoroughly discussed by the committee. It was at first suggested that the amount required might be obtained among the members, and from the proceeds of entertainments ; but it wag considered that the latter would be required for the purchase of books, &c, and, though donations might probably be obtained from a few members, that eourcc . could not be relied upon. Mr Wilson asked whether the Income from the rents would more than pay the interest on the mortgaga % The Chairman replied thai it ?»i 9°&?

sidered there would be an annual profit of jEie. Mr Riddoll enquired whether the £15 would be set aside to form a sinking fund. The Chairman replied that it Would. Mr Wilson Baid it would be better that the formation of a sinking fund should be resolved npori by the meeting. Mr Large would like tho resolution amended to the effect suggested by Mr Wilson; Mr Holder expressed the s'ain'e desired Mr Fielder thought the resolution rather bare. Any person turning it up some years hence would not be able to understand what arrangement was made. The resolution should Btate the time for which the money was to be borrowed and the.rdte of interest that was to bo paid. Tlid GHatfmdn Said the ndoney was to t be borrowed for ten years. As to the rate 6'f interest, members nJight be sure that the committee would not pay 10 per cent, if the current rate was 8 per cent. After some discussion the resolution was amended by adding to it the following words :— " All profits from now building aftor paying interest to go to a sinking fund/ and as so amended it was carried without dissent. Mr James Sidey moved, " That this meeting consents to the application of such sum of £200 to the erection of the proposed additions." Mr Carnell seconded the motion. Mr Fielder protested against passing so Indefinite a resolution. He asked whether full particulars would be recorded on the minutes ? The Secretary replied that the resolutions passed by fjthe members would be really appendices to the minutes of the proceedings of the committee, giving full details of what was proposed to be done. He reckoned there would be a margin of £20 a year towards paying oft the mortgage. The motion was then carried without dissent. Mr Wilson moved, " That this meeting consents to the leasing of the proposed additions in such manner andatsuch terms as the committee have arranged between the AthenEeum and the other institutions." The motion was seconded by Mr John Dinwiddie and carried. A vote of thanks to the chairman broughc the proceedings to a close.