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Article THE GRAND LODGE PROPERTY. ← Page 4 of 4 Article OUR ARCHITECTURAL CHAPTER. Page 1 of 5 →
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The Grand Lodge Property.
tion afforded them , which would go in further reduction of the loss which might by possibility be incurred—a loss which we believe would be readil y converted into a profit by the opening of a subscription , reading and coffee room . Wc should not have deemed it our duty again to havo alluded to the subject , at least for the present , did wc not feel bound to SIIOAV to the Craft that the decision of the
brethren of Dudley has been arrived at in a misconception of the facts of the case ; and that under every circumstance the Benevolent Fund must lie held sawed to ihe pui-poses fur ivhich it v : as subscribed . In conclusion , AVO beg the brethren to notice that the fifth question is put as an alternative . Wc are led to this remark b y observing that some ofthe Lodges in their replies hai'c ansAvered all the questions in
the affirmative—this AVO need hardly say destroys the value ofthe reply . We would also remind the brethren that the replies aro to be sent in to the Board of General Purposes on or before the 31 st of March , a period wliick is rapidly approaching .
Our Architectural Chapter.
OUR ARCHITECTURAL CHAPTER .
WE are very glad to receive communications in correction or extension ofthe statements Ave make in these Chapters , as they afford a proof of the groiving interest that is taken in the subject . Thus AVO learn from Leicester that the arrangements for the Hall there have been carried out in a much better manner than th . e first project led us to conceive , and that improvements have been made Avhich arc of
general interest . The ori ginal plan was to constitute the undertaking as a share concern- —an arrangement very defective , which ; as our correspondent shows , Avould have had the effect of making the trustees personally liable , and accountable to any individual subscriber- —a responsibility which it is most desirable to avoid . While the form of a limited
liability company gives a certain protection to the parties interested , ifc does , as already shown , bring with it other liabilities , whieh might be the fruitful source of litigation . There is besides , this fundamental objection—that the undertaking is made subservient to purposes of revenue and profit , as wc think needlessly for any financial requirement . The main basis of the funds for any such institution consists of the
voluntary contributions of individual members , and the appropriation of Lodge funds ; and in the course of time these will ahvays be found adequate to provide the Avhole capital . This is , however , a work of time , audit is requisite to provide funds to complete the building at once , in anticipation of the receipts . The usual way of meeting this want is hy way of shares , creating thereby a perpetual proprietorship , and tlie clanger of the shares , the property , and the control of the establishment passing into strange hands . There are , however , two
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software.
The Grand Lodge Property.
tion afforded them , which would go in further reduction of the loss which might by possibility be incurred—a loss which we believe would be readil y converted into a profit by the opening of a subscription , reading and coffee room . Wc should not have deemed it our duty again to havo alluded to the subject , at least for the present , did wc not feel bound to SIIOAV to the Craft that the decision of the
brethren of Dudley has been arrived at in a misconception of the facts of the case ; and that under every circumstance the Benevolent Fund must lie held sawed to ihe pui-poses fur ivhich it v : as subscribed . In conclusion , AVO beg the brethren to notice that the fifth question is put as an alternative . Wc are led to this remark b y observing that some ofthe Lodges in their replies hai'c ansAvered all the questions in
the affirmative—this AVO need hardly say destroys the value ofthe reply . We would also remind the brethren that the replies aro to be sent in to the Board of General Purposes on or before the 31 st of March , a period wliick is rapidly approaching .
Our Architectural Chapter.
OUR ARCHITECTURAL CHAPTER .
WE are very glad to receive communications in correction or extension ofthe statements Ave make in these Chapters , as they afford a proof of the groiving interest that is taken in the subject . Thus AVO learn from Leicester that the arrangements for the Hall there have been carried out in a much better manner than th . e first project led us to conceive , and that improvements have been made Avhich arc of
general interest . The ori ginal plan was to constitute the undertaking as a share concern- —an arrangement very defective , which ; as our correspondent shows , Avould have had the effect of making the trustees personally liable , and accountable to any individual subscriber- —a responsibility which it is most desirable to avoid . While the form of a limited
liability company gives a certain protection to the parties interested , ifc does , as already shown , bring with it other liabilities , whieh might be the fruitful source of litigation . There is besides , this fundamental objection—that the undertaking is made subservient to purposes of revenue and profit , as wc think needlessly for any financial requirement . The main basis of the funds for any such institution consists of the
voluntary contributions of individual members , and the appropriation of Lodge funds ; and in the course of time these will ahvays be found adequate to provide the Avhole capital . This is , however , a work of time , audit is requisite to provide funds to complete the building at once , in anticipation of the receipts . The usual way of meeting this want is hy way of shares , creating thereby a perpetual proprietorship , and tlie clanger of the shares , the property , and the control of the establishment passing into strange hands . There are , however , two