xvi PROCEEDINGS OF THE ROYAL HORTICULTURAL SOCIETY. 



would not prove to be altogether beyond the financial resources likely to 

 be available. 



The first site investigated was that known as Niagara, covering about 

 an acre of land (40,000 square feet), and with a large circular building. 

 The price of the freehold was fixed at a little over £1 00,000. Probably at 

 least £5,000 would have been required for adapting the building for the 

 Society's purposes, and another £5,000 or more for building suitable 

 offices. The rates and taxes would also have been exceedingly heavy. 

 Long and careful consideration was given to this site, but after the fullest 

 enquiry with regard to borrowing upon the freehold, and the rate of 

 interest required, Baron Schroder announced at the fourth formal meeting 

 of the Committee that the rate of interest required for borrowing on 

 Niagara is so high that, considering the large initial outlay required, he 

 had reluctantly but decidedly come to the conclusion that the property 

 was too large and too costly to be further entertained. 



The second site was one in the Buckingham Palace Eoad, containing 

 15,190 square feet. This site also received careful consideration, but was 

 eventually dismissed on the ground that a rent of £700 a year, coupled 

 with an obligation to expend at least £20,000 on buildings, was too high 

 a price for the Society to pay for a lease of eighty years only. 



The third site was bounded by Vauxhall Bridge Road, Francis Street, 

 and Carlisle Place, and included the fine building suitable for offices &c, 

 known as the Old Cardinal's House. The whole site proposed contained 

 22,500 square feet. This property commended itself strongly to the Com- 

 mittee, but it had the disadvantage of belonging to three different owners, 

 and also of involving the necessity of obtaining certain permissions from the 

 London County Council. As soon as definite negotiations were entered 

 into with the various owners, it was apparent that an agreement as to 

 price could not be arrived at, and this site was most regretfully dis- 

 missed. 



The fourth site was in Francis Street, consisting of 15,000 square feet, 

 but the rent asked, viz. £1,400 a year for a long lease, was considered to 

 be beyond the Society's means. 



The fifth site is in Vincent Square, at the corner of Bell Street. It 

 has an area of 17,565 square feet, and the rent asked is £690 a year for a 

 lease of 999 years. Your Committee recommend the adoption of this 

 site. 



The Ecclesiastical Commissioners, the owners of the land, stipulate 

 that a sum of not less than £15,000 should be spent on a building and 

 offices, and your Committee are advised that the rates would not exceed 

 £400 a year, which with the rent would make an annual expenditure of 

 £1,100; or after deducting the present cost of hall and offices, £320 a 

 year, it would involve an increase of expenditure of £780 a year. The 

 approaches to Vincent Square are not at present all that could be desired, 

 but two new roads are already decided upon : one direct from Francis 

 Street, starting from exactly opposite the new Cardinal's house ; and 

 the other from Horseferry Road to the corner of the site in question in 

 Bell Street. 



In considering the extra annual cost, your Committee have not made 

 any calculation of either the additional expense of caretaker, light, and 



