THE CRYSTAL PALACE.
Two reports relating to the management and financial position of the Crystal Palace have lately been presented. The first emanates from a Committee of Shareholders ; according to whose estimate, a further sum of 70,000/. will suffice for all liabilities up to March next. They recommend the immediate appointment of a managing Director, not a member of the Board, who should be required to reside on the spot; and the payment of the Board, as well as the Di- rector in question. Active measures are in progress for exhibiting some of the works of art and industry recently displayed at Paris ; next year is to witness the completed fountain-system at work, throwing its 20,000 jets ; and an extended scheme of special exhibitions is advocated. With respect to three chief points referred to the Committee's deliberation,—Sun- day-opening, a change of the reserve-day from Saturday to some other day, and an immediate issue of life-tickets, with a view to the reduction of capital—the Committee discountenance the first two, and do not see their way clear to the third. "They believe that a Sunday-opening would be a great educational advantage to the public ; but they could recommend nothing which involved the risk of a forfeiture of the Com- pany's charter. By that charter, no one is to be admitted on the Lord's Day in consideration of any money-payment, whether made directly or indirectly,' unless the express sanction of the Legislature shall have been obtained. The Committee consider that the only course for those who are in favour of Sunday-opening is to obtain an alteration of the law." This conclusion is undoubtedly honourable, and it appears to us politic as The second report comes from the Directors, and is more exclusively financial. They concur with the Committee in stating that a sum of 70,0001. is required to pay all liabilities and finally close the capital- account ; and they consider that this sum can be raised "by exercising the power already intrusted to them by the shareholders, and without any fresh creation of capital. They also propose for introduction into Parlia- ment a bill containing a clause " to empower the Directors to issue life tickets in exchange for shares or stock of the Company, and thereby to extinguish such shares or stock, and thus to reduce the capital of the Company."
The following are among the most prominent statistics in the two re- ports. In the twelvemonth ended the 30th June last, the number of visitors was 1,322,008 ; for the current twelvemonth the estimate is 1,200,000, yielding an income of 86,5001. ; while the total revenue from all sources is about 100,0001. The estimate for future annual expendi- ture is 73,000/. The total expenditure up to the 31st October last was 1,292,0001., increased by pending liabilities to 1,422,0001. The total re- ceipts amounted to 1,330,500/.
These details enforce the arduousness of the task which the Crystal Palace Company have undertaken. They include items of fair omen, however ; and one feels, even on the most dispassionate consideration, that the publio owes it to itself, and to the Company as originators of a magnificent enterprise, to make that omen good.
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