9 Royal of England, to announce the intention of her Royal Highness to become 

 3 a Life Member. -I have the honour to be, my Lord, your Lordship's mo»t 



that H.R.H. 



him to say that should the meeting 

 decide on raising money by debentures, The Prince would take 

 debentures to the amount of 1000?. 



It is almost needless to add that this most interesting intelli- 

 gence was received by the Society with feelings of the deepest 

 gratitude. 



The Council having renewed their correspondence with the 

 Royal Commissioners for the purpose of obtaining a reconsidera- 

 tion of the points which, in the opinion of the meeting, demanded 

 some alteration, a second general meeting assembled on the 20th 

 July. The Council then explained what progress had been made 

 in the negotiations. The Commissioners had agreed to add to 

 the arrangements with the Society stipulations to the following 

 effect: — Upon the Society giving two years' notice previous to 

 the expiration of the lease the lease to be renewed for a further 

 period of 31 years upon the same condition as to rent, &c., as 

 already proposed. The Commissioners, however, to reserve to 

 themselves a power to decline to renew the lease, in which case 

 they would take upon themselves the responsibility of any Deben- 

 tures that might be outstanding at the expiration of 31 years, to 

 any extent not exceeding a maximum of 20,000i. But the Com- 

 missioners required the Society to devote in each year not less 

 than 50 per cent, of their surplus balance to paying off outstand- 

 ing Debentures. And in the event of the Society being unable 

 for any five consecutive years to pay interest on the 60,0001. to 

 be borrowed by the Commissioners, then the Commissioners to 

 have the right of re-entry without any payment of compensation. 



On this occasion the two following resolutions closed the 



