THE BATH INSTITUTION. 11 



300 proprietary shares should be issued at 121. each. 

 This it was calculated would raise a capital quite 

 sufficient for the purchase of books, apparatus, fur- 

 niture, and such other outfit as did not fall within 

 the province of Lord Manvers, who had undertaken 

 to provide a building on a plan prepared by the 

 Board and suitable to their purposes. Expectations 

 of public support had become less sanguine than 

 they had been. The calculation then was, that, of 

 the 300 shares, 200 would be taken, and that 100 

 persons might be expected to come in as annual 

 subscribers. The 1 00 were to pay three guineas a 

 year, the 200 two guineas, making a total of annual 

 income of 73 5 Z. 



But this was only one of the abortive schemes. 

 Another, of which I think it probable that Mr. 

 Elwin was the prime originator, was on a more 

 liberal scale. It was thought that 8400Z. might be 

 raised in proprietary shares of 20 guineas each. Of 

 this lOOOZ. was to be a perpetual reserve fund; the 

 rest was to be expended in books, maps, apparatus, 

 furniture and other requisites. Each proprietor was 

 to make an annual contribution of two guineas, and 

 strangers were to be admitted for the same payment. 

 This it was hoped would enable the Institution to 

 proceed in a satisfactory manner, aided by the 

 annual proceeds from the reserved fund, the rent of 



