514 NEW CHARTER OF THE 



servatory or winter garden, and expend not less than £50,000 ; 

 ' and, thirdly, that the Commissioners, simultaneously with the 

 " progress of the works of the said Society, should at their own 

 cost enclose the said land with arcades, distinguished as the upper 

 arcades, central arcades, and lower arcades respectively, and that 

 the upper arcades (except the parts thereof coloured green in the 

 plan annexed to the said Articles of Agreement), and certain 

 rights and easements as to the use or enjoyment of the central 

 and lower arcades and the excepted parts of the upper arcades, 

 should be included in the lease of the said land, and that the 

 Commissioners shall expend the sum of £50,000 about such 

 earthworks, and in erecting the said arcades. And it is also 

 represented to Us that under the said Articles of Agreement the 

 sum of £40,000 (part of the £50,000 to be expended by the 

 said Society) is to be raised by debentures (the remainder of the 

 £50,000 having been already raised by donations and fees on the 

 admission of Life Members), and divers stipulations or agree- 

 ments are made thereby or contained therein for the application 

 and disposition of the income of the said Society, it being part 

 of such arrangements that the "receipts from the gardens," 

 consisting of and including the moneys and income therein men- 

 tioned in that behalf, should be applied or disposed of in the 

 following manner, viz., out of the gross amount of the " receipts 

 from the Gardens," such a sum as shall from time to time be 

 allowed by the Committee hereinafter mentioned, in respect of the 

 expenses therein mentioned of the said Society, and of carry- 

 ing on the operations and concerns thereof, is in the first place 

 to be retained by the said Society ; secondly, there is to be then 

 retained by the said Society, out of such receipts, the amount which 

 may be, from time to time, payable by the said Society in respect 

 of mterest, not exceeding £5 per cent, on the sura of £40,000, to 

 be borrowed on debentures as aforesaid, or on so much of the 

 said sum of £40,000 as may remain unpaid or undischarged ; 

 and, thirdly, there is then to be paid by the said Society to the 

 Commissioners, as rent, the yearly sum of £2,145, if the receipts 

 shall be adequate for such payment, after retaining to the said 

 Society the sums authorised to be retained by them, as therein 

 —*-—' "■- the expenses and for the interest respectively 

 therwise, such a sum only as shall be equal from 

 the residue of the receipts over and above the 



