NEW CILVRTER OF THE ROYAL HORTICULTURAL SOCIETY. 407 
(the remainder of the £50,000 having been already raised by donations 
and fees on the admission of Life Members), and divers stipulations or 
agreements are made thereby or contained therein for the application and 
disposition of the income of the said Society, it being part of such arrange- 
ments that the " receipts from the gardens," consisting of and including 
the moneys and income therein mentioned 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 
carrying 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 interest, not exceeding 
£5 per cent, on the sum 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 [mentioned, for the 
expenses and for the interest respectively aforesaid ; but otherwise, such a 
sum only as shall be equal from year to year to the residue of the receipts 
over and above the sums so in precedence ; and if there shall remain any 
surplus over and above the several payments hereinbefore mentioned, out 
of the "receipts from the gardens," there is to be paid to the Commis- 
sioners for their own use and as additional yearly rent, a sum equal to 
half such surplus : and, further, that by the said Articles of Agreement, 
it is provided or stipulated that for the purpose of regulating the amount 
to be retained by the said Society in each year for expenses, a Committee 
shall be appointed annually, which Committee is to consist of six persons, 
three of whom are to be appointed by the Commissioners and three by 
the said Society, and any three of such Committee are to form a quorum, 
so as one, at least, shall be a person appointed by the Commissioners, 
and one shall be a person appointed by the said Society ; and as vacancies 
occur in each year, by death, incapacity, or resignation, such vacancies 
are to be filled up respectively by the Commissioners or the said Society, 
according as the original appointments were made by them' respectively ; 
and further, that the Committee is from time to time to select one of 
those Committee-men who have been appointed by the Commissioners as 
Chairman of such Committee, and he is to have an equal vote Avith the 
other Committee-men for the time being acting, and in case of equality a 
casting vote in addition ; and the Committee is to have power to make 
bye-laws for their own government in the execution of the duties confided 
to them; and that it is also thereby provided or stipulated that the said 
Society shall devote and apply tow^ards the liquidation of the debt of 
£40,000, to be raised by debentures as aforesaid, three-fifths of the money 
actually received by them from time to time, in respect of the " receipts 
from the gardens," after the retentions and payments aforesaid from and 
out of the " receipts from the gardens," for expenses and interest by the 
said Society and the rent to the Commissioners ; and divers other agree- 
