CONSTITUTION OF THE errrtfitite i ltbrarii: fciattio-l, OF THE CITY OF NEW YORK, WITH THE C T O F JN C ORP O AT I ON, t1 —TWVO and roulatiollo. FOUNDED NOV. 9, 1820; NEW YORK: JORDAN, COMES. & SEYMOUR, PRINTERS AND STATIONERS. 1870. residents of the ssociation FROM ITS ORGANIZATION. 1820-23.. LUCIUS BULL. 1851.....IIENRY A. OAKLEY. 1823-24.. CORNELIUS SA VA GE. 1852..... GEORGE PECKHAM. 1824-26..BENLJAMIN 1. SEWVARD. 1853..... VILLARD L. FELT. 1827.31.. R. B. BRO WTTN. 1854.....DANIEL F. APPLETON. 1832:34:.. JOHN W. STEBBINS. 1855.....D.iREYNOLDS BUDD. 1834-35..R. R. BOYD. 1855-56.. GEORGE C.'WOOD. 1836-37.. CHARLES ROLFE. 1856.57.. JOHN CRERAR. 1838.....EDMUNVD COFFIN. 1857-58.. ROWLANLD IL. TIMPSON. 1839.....JOHN S. WI/NTHROP. 1857-58.. ALE.XANDER P. FISKE. 1839.....ELIJAH WYARD. 158-59..E. BOUDINOT SER VOSS. 1840.....A UG USTUS E. SILLIMAN. 1859-60.. RICHIARD A. BACHIA. 1841.....HECTOR MORISON. 1860-61.. CHAS.E.KING SHERMAN. 1842..... JOHN T. ROLLIATNS. 1861-62.. CIIARLES F. ALLEN. 1843..... LE WIS McMULLEN. 1862-63.. CHIARLES OSGOOD. 1843..... RICHARD B URLE W. 1863-64.. CHIARLES H. SIVORDS. 1844-45.. CHARLES E. MILNOR. 1864-65.. THIEODORE H. VULTEE. 1846-47.. CORNELIUS L EVERETT. 1865-66.. ROB'T. TVALKER IR TVIN. 1848.....THOMAS W. GROSER. 1866-67.. AARON C. ALLEN. 1849.....ISAAC I. BAILEY. 1867-68:.ALEXANDER RHIND. 1850..... THOMAXS -J. BA YA UD. 1868-69.. CHARLES F. ALLEN. 1869-:0..1. C.,D. BORDEV. OFFIOERS AND MEMBERS. OF THE BOARD OF DIREGTIZ0T AND OFFICERS OF THE ASSOCIATION FOR 1870-71.'residlent, M. C. D. BORDEN..Vi cep'r es ident AV.. T. PEOPLES. Corresponfi)nf! Secretary, Recording Secretary, EDWARD IASLER. SAMUEL PUTNAM. GEORGE B. MILLS. _Directors of the First Class, to hold Office fo, One Yea;, M. C. D. BORDEN, N.. H. MYRICK, EDWARD' HASLER, GEO. B. MILLS. Directos3, of the Srcond Class, to hold Office foi' Two Yetars, WV. T. PEOPLES, A. W. SHERMAN, SAMUEL PUTNA-M, J. C. CURRIE. Directors of the Third Class, to hold Office for aThree Years, CHARLES F. ALLEN, ASHER S. MILLS, W. A. SHERMAN, JNO. NICKINSON. LTibrarian, A M. PALMER. Ass.:stant Libarian, GEORGE COOPE. MERCANTILE LIBRARY ASSOCIATIO& STANDING COMMITTEES OF THE BOARD OF DIRECTION FOR 1870"'71 Library. WM, T. PEOPLES, Chairman. CHAS. F. ALLEN, WM. A. SHERNAN. Relations with Clinton Hall Association. tA-HER S. MILLS, CHAS. F. ALLEN, Chairman. J. C. MILLS, Purchasing. JOHN NICKINSON ASHER S. MILLS, Chairman. EDWARD HASLER. EDWARD HASLER. Finance. SAMUEL PUTNAM, GEORGE B. MILLS, C~hairmcacn. jWM. T. PEOPLES. Auditing. J. C. CURRIE, WM. A. SHERMAN, Chairman. ASHE S. MILLS. Lecture. EDWARD HASLER, Chairman. WM. A. SHERMAN, N. H. MYRICK. Membership. WM. T. PEOPLES, SAMUEL PUTNAM, Chairman. CHAS. F. ALLEN. Class. IA. W. SHERMAN. J. C. CURRIE, Chairman. AMUE. PUTNAM. SAMUEL PUTNAM. Catalogue.,JOHN NICKINSON, Chairman. N. H. MYRICLL GEORGE B. MILLS. Free Scholarships. EDWARD HASLER, A. W. SHERMAN, Chairman. IOHN NICKINSON. Arrangements and Fine Arts. GEORGE B. MILLS, N. H. MYRICK, Chairman. A. W. SHERMAN. CT OF JNCORPOFRATION. AN ACT To Incorporate "The Mercantile Library Association of the City of New York." The People of the State of New York:, represented in Senate and Assembly, do entact as follows: SECTION 1. Robert Walker Irwin, Aaron C. Allen, Samuel B. Lyon, A. Judson Stone, James.W. Edwards, Edwin P. Weed, Nathaniel D. White, Augustus T. Francis, George B. Emory, Albert H. Wheeler, George C. Lee, Jacob S. Isaacs, and such other persons as are now a corporation or association in the City of New York, called "The Mercantile Library Association of the City of New York," and such persons as shall hereafter become members of the corporation hereby created, are constituted a body corporate by the name of " The Mercantile Library Association of the City of New York," to be located in the City of New York for the promotion of useful knowledge. SEC. 2. Said corporation shall have power to make and adopt a constitution, by-laws, rules and regulations for the admission, government, suspension and expulsion of its members, the collection of fees, fines G ACT OF INCORPOIRXTION. and dues, the number, election and duties of its officers, the safe keeping and protection of its property and funds, and fromn time to time to tlter, modify, change and repeal such constitutipn, by-laws, rules, and regulations. And in the meantime the present constitution, by-laws, rules and regulations shall be and continue in force, and the present officers and directors shall hold their respective offices until others are e.ected in their places. SEC. 3. Said corporation shall have power to sue and may be sued by their corporate name, and shall have power to take by purchase, lease, gift, grant, devise and bequest, any real or persdnal'estate, and hold, convey and transfer the same, provided. they do not hold at any one time real property to the value of more than two hundred and fifty thousand dollars. SEC. 4. Said corporation shall possess the general powers and be subject to the restrictions and liabilities prescribed in the third title of the' eighteenth chapter, of the first part of the Revised Statutes. SEC. 5. This act shall take effect immediately. (Approved by the Governor, May 8, 1'866.) C O NS.TITUTI O N. As Atiended May 10th,.1870. ARTICLE I. OF MEMBERS. SEC. 1. This Association shall be composed of three classes of members, viz:' ACTIVE, SUBSCRIBING and HONORARY. OF ACTIVE MEMBERS. SEC. 2. Any person engaged on a salary as a clerk may become an'Xtive Member of the Association, if approved by the Board of Direction, on -subscribing to the Constitution, paying an initiation fee of $1,00, and $2,00 for the first six months. The regular dues of all active members hereafter, shall be $2,00, semi-annually,: in advance. Acitive menmbers alone shall be entitled to vote and hold office. SEC. A3. A membership of at least six months shall be requisite to make a member eligible to any office. A membership of at least' three months shall be necessary to enable a-member to vote at any election. SEC. 4. If the dues of any member remain unpaid 8 CONSTITUTION. for the term of twelve months, his rights of membership shall be forfeited, unless his delinquency be excused by the Board of Direction. SEC. 5. Any person wlo shall be approved by the Board of Direction, may become a Subscribing Member of the Association, on the payment of ($5,00). live dollars, annually, or ($8,00) three dollars, semiannually in advance, and shall be entitled to all the privileges of membership, except the right to vote and hold office. SEC. 6. Persons of distinction may be elected ZHonorary Members of the Association by a vote of three-fourths of all the members of the Board of Direction, but no more than two persons shall be elected to such membership in any one year. Honorary members shall be entitled, for life, to the free use of the Library and Reading.Room, and to all other privileges usually accorded to subscribing members. ARTICLE II. OF MEETINGS. SEC. 1. There shall be an Annual Meeting of the members of the Association on the second Tuesday in May, for the purpose of receiving the report of the Board of Direction, and for the transaction of such other business as may be presented. Fifty members shall constitute a quorum for the transaction of business. CONSTITUTION. 9 SEC. 2. The President, at the request of the Board of Direction, or at the written request of one hundred members, stating. the reason therefor, shall call a meeting of the Association for the transaction of special business; two weeks' public notice thereof having been given ARTICLE III. OF OF'FICERS. SEC. 1. The governmnent of the Association shall be vested in a BOARD OF DIRECTION, which shall consist of TWELVE DIRECTORS, who shall be chosen to hold office for three years, except as hereinafter provided with reference to the Board first elected. Each member of this 30ARD OF DIRECTION shall have one vote, excepting the President, who shall vote only in case of an equal division of the BoARD OF DIRECTION, and upon an election for HONORARY members. SEC. 2. Immediately after the members of'the BOARD OF DIRECTION, chosen at the first election under this Constitution, shall be assembled, they shall be divided'by lot into three equal classes. The seats of the DIRECTORS of the first class shall be vacated at the end of the first year; of the second class at the end of the second year; of the third class at the end of the third year; so that one-third may be chosen every year. SEC. 3. Any vacancy in the Board of Direction occasioned by resignation or otherwise, shall be filled for the unexpired time by the Board, a plurality of votes constituting a choice. 10 CONSTITUTION. SEC. 4. There shall be an ANNUAL ELECTION to fill the seats of the outgoing DIRECTORS on the TUESDAY SUCCEEDING THE ANNUAL MEETING, the polls to open at 8 o'clock A. XM., and to close at 9 o'clock P. M. Such election shall be by ballot. No member shall be entitled to vote who is in arrears for dues. SEC. 5. At least TWO WEEKS previous to each Annual Election, the BOARD OF DIRECTION shall give -public notice thereof, and shall also appoint a BOARD OF INSPECTORS to superintend such election and if any of the Inspectors shall fail to attend at the time appointed for the election those who do attend may fill the vacancy. If one or more of the requisite number of DIRECTORS balloted for at any such election shall, for any cause fail to be elected the BOARD OF INSPECTORS shall order a new election to be held within one week thereafter to fill the place or places of those so failing to be elected. SEC. 6. THE DIRECTORS chosen at each election shall take their seats on the TUESDAY next succeeding their election. SEC. 7. The OFFICERS of the BOARD OF DIRECTION shall be a PRESIDENT, VICE-PRESIDENT, CORRESPONDING SECRETARY,,.. RECORDING.. SECRETARY aind TREASURER. They shall be ELECTED by, and from the BOARD or DIRECTION to hold office for one year. SEc. 8. The OFFICERS of the Board of Direction shall be- OFFICERS of the ASSOCIATION. - SEC. 9. The President shall preside at all meetings of the Board of Direction and of the Association; preserve order therein, and in case of an equal CONSTITUTION. 11 division on any question, give the casting vuve. He shall, with the Treasurer, sign all checks of the Association for the disbursement of funds. SEC. 10. THE VICE-PtESIDENT, ill the absence of the PRESIDENT, shall perform all the duties of that officer. SEC. 11. The CORRESPONDING SECRETARY shall conduct the correspondence of the Association, under the superintendence of the Board of Direction. SEC. 12. The RECORDING SECRETARY shall keep an accurate record of the transactions of the Association and of the Board of Direction. SEC. 13. The TREASURER shall, subject to the approval of the Board of Direction, have charge and custody of all the securities of the Association, collect the principal of the same as they become due, collect' the dividends or interest on investments as they mature, and shall deposit to the credit of " THE MERCAN-: TILE LIBRARY ASSOCIATION," without delay, all funds received by him; for or on account of the Association, in such BANEK or INSTITUTION as may have been designated by the Board of Direction. He shall, with the President, sign all checks, and keep a regular account of the finances of the Association, an abstract of which shall be presented at each ANNUAL M/EETING, with the ANNUAL REPORT of the Board of Direction. lie shall give security in the sum of FIVE THOUSAND DOLLARS for the faithful discharge of his trust. SEC. 14. The moneys of the Association shall be disbursed only by checks upon the INSTITUTION holding the same, signed by the PRESIDENT and TREASURER., -SEc. 15. The Board of Direction shall have full 12 CONSTITUTION. power to appropriate funds, enact By-laws for.its own government, and for the government of the Association; make all proper provisions and regulations for the preservation, management and direction of the LIBRARY, READING ROOM and CABINET, and to conduct the affairs of the Association. The Board shall meet at least once a month, for the transaction of business and at each ANNUAL MEETING shall report its proceedings for the preceding year. SEC. 16. No member of the Board of Direction shall receive, directly or indirectly, any compensation for the services he shall, in his official capacity, render the Association. SEc. 17. The Board of Direction shall have power to establish BRANCH LIBRARIES in such..localities, and upon such conditions, as it may deem just and proper; provided that no member shall have the right to use BRANCH LIBRARIES established. beyond the limits of the CITY OF NEW YORK, who does not pay at least $5,00 annual dues.and that no person subscribing to the Association through such outside ])RANcH LIBRARIES shall have the right to vote or hold office. SEC. 18. In case of flagrant official or personal misconduct, the Board of Direction shall have power, by a vote of three-fourths of its whole number, to expel a, member of the Board-two weeks' previous notice of the charges against him having been rendered in writing to the PRESIDENT, who shall thereupon and within one week thereafter, furnish a copy of such charges to the member against whom they are made; and in case of flagrant misconduct on the CONSTITUTION. 13 part of, any member of the Association, the Board of Direction shall have the power of suspending said member by a vote of three-fourths of its whole num-: ber-two weelks' previous notice. of the charges having been given him by the Corresponding Secretary, in writing, served upon him personally or mailed to his last address as shall appear upon the books of the Association-but he shall have the right to appeal to the succeeding Annual Meeting, for its decision as to his restoration or expulsion. SEc. 19. It shall be the duty of the Board of Direction to appoint a Librarian, with such assistants as may be deemed necessary, and to require of. him good and sufficient surety in a sum not less than five thousand dollars, ($5,000), for the faithful discharge of his duties. SEC. 20. A Committee shall. be appointed each year, by the Board of Direction, to examine the books and other property of the Association, and report thereon, at least one month previous to each Annual Meeting. ARTICLE IV. OF DONATIONS AND BEQUESTS. SEC. 1. In case any moneys shall accrue to the Association by gifts or demise (without condition as to the mode in which such donation shall be expended), it shall be the duty of the Board of Direction to fund the moneys thus acquired in such securities as shall be approved of by two-thirds of its whole number, and the custodian of said moneys or securities, 1.4 CONSTLTUTTION shall give bonds for the safe keeping-of the samln, (in such -amount as may be fixed upon:by the Board. of Direction); and no part of the principal of such funds shall be expended for any purpose whatever, without the previous sanction of two-thirds of the members. present at a Special or Annual Meeting of- the Association. ARTICLE V. OF AMENDMENTS. SEC. 1. There shall be no, alteration of this Constitution, unless the same shall have been proposed to the Board of Direction at least one month previous to an Annual Meeting, and then approved by twothirds of the members of the Association present at such meeting. SEC.. 2. This Constitution shall take effect immediately. BY-LAWS AND REGULATIONS. ARTICLE 1. The Library shall be open from 8 o'clock, A. M., until 9 o'clock, P. M.; and the Reading-Room from, 8 o'clock, A. M., until 10 o'clock, P. M., every day-except Sundays, legal holidays, and such other days as the Board of Direction may designate. ART. 2. The -Librarian shall keep a full and accurate catalogue of all the books, magazines, maps, charts, newspapers, and works of art belonging to the Association, and arrange.them in.proper order; he shall keep a duplicate of the same, which shall at ail times be open to the inspection of the miembfirs. He shall make a record of all'books, maps, charts,' &c., presented'to the Association, in a book provided for that purpose, with the names of the donors. ART. 3. He shall register, in ledgers prepared for; that purpose, and to be. kept in the Library-room, the name of every member of the Association, and shall in no case deli;ver a book to any member until the name and address bf such member is registered; he shall preserve an accurate account of the number of: every volume delivered by him, the name of the person to whon m delivered,: the time of taking and returning the, same, together with, the forfeiture arising friom every default. 16 BY-LAWS AND REGULATIONS. ART. 4. He shall collect all dues and forfeitures incurred by the members, and account for the same to the Treasurer at the close of each month, or oftener if required by the Board of Direction. ART. 5. He shall, when required, report to the Board of Direction the names of such members as may refuse to pay their forfeitures, or lose or damage any book belonging to the Library; and the names of- all delinquents, with the amount of dues remaining unpaid. ART. 6. He shall suffer no person, except members of the Board, to remove a book from its place in the Library without his permission;. nor shall he allow any but Directors and Ex-Directors to frequent the alcoves or space within the enclosure, unless to consult books of reference. ART. 7. He shall see that the books, Library-room and Reading-rooms, are kept in good order; shall. duly observe the instructions which may be given him by the Board of Direction, and take care that the regulations relative to the loaning of books be strictly adhered to. ART. 8. Books shall be delivered to members of the Association when called for by cards prepared for that purpose, properly filled. and signed by the member himself, or by some one authorized to draw for him. ART. 9. Every member shall be entitled to have out one work at a time not exceeding three volumes; but any member desiring to draw -another work, BY-LAW- AND 1REGULATIONS. 17 alreadly having one out,:nlmay do so by paying: at the rate of ten cents for eeach week or part of- a. week that it shall be retained. ART. 10. MIembers may retain eachl work the length of time specified on- the covers on the books. They shall be fined tell cents for each week; or part of a week, that a book shall have been detained beyond the time so prescribed. ART. 11. -Any. mlember mlayTopen a duplicate account for his own use by paying one dollar, half yearly in advance. ART. 12. The Librarianl shall ascertain at the close of each month, or oftener, what books have been kept over the time allowed, and shall send notice to members in default, requesting the immediate return of their books. ART. 13. If any member lose, or deface with marginal notes, or by marking, or otherwise injure a book, he shall make the same good to the Librarian; and if the book lost or injured be one of a set, he shall pay the Librarian for the use of the Association, the full value of said set, and may thereupon receive the remaining volumes as his property. ART. 14. No mlember shall be permitted to receive a book from the Library until he shall have paid all sums due from him to the Association, and made good all damages and losses which he may have occasioned. AnT. 15. The books marked in the cataloume as books of reference, thuns (*), and such others as i.;ay 18 BY-LAWS AND REGULATIO)NS. from time to tinme be specially designated by the Board, shall not be taken from the Library, except by special permission of a member of the Board of Direction. ART. 16. Any member wishing to withdraw from the Association, must inform the Librarian of it, see that his resignation be registered, and pay up his dues and fees, else he will be considered as continuing a member, and charged accordingly-unless otherwise ordered by the Board of Direction. ART. 17. NO book shall be reserved by the Librarian for any Director or member, ARTICLE 1. The Reading-roomn shall be under the SUPERVISION OF THE SUPERINTENDENT, who shall take charge of, and keep in their places, all the books, perioclicals, and newspapers kept therein. It shall be his or her duty to supply the occupants of the room with such books from the LIBRARY as they may wish to consult; and to enforce such rules and regulations for the government of this department as the Board may enact. ART. 2. Blank forms will be furnished by the SuPVRINTENDENT to those who desire to consult works from the Library, in which the applicant shall fill in the title of the work and date of application, and affix his signature and number of the folio thereto, or number of his card of admission, if a visitor, when he shall obtain the book with but little delay; and such applicant will be held responsible for it until the redemption of the written application by the return of the work. ART. 3. None but MEMBERS will be allowed the privileges of the READING-ROOM, unless introduced by a member of the Association; and members shall exhibit their tickets of subscription when required to do so by the Superintendent; and no member will 1)e allowed the use of the READING-ROOM unless all duis and forfeitures are liquidated. 2() IIE(ITLATIONS ()OF THE IPEA.l)IN(G- ROC).0. ART. 4. Any membe r may have the p1rivileg'e of introducing a friend who is a non-resident, whose namle shall be registered by the Librarian in a book provided for that purpose, and who will receive a Card of adlmission to the Reading-Roonm for the term of four weeks; persons so introduced may consult l)ooks ill the Reading-Room and Library, but shall not bei privileged to take them out of the rooms of the. Association. ART. 5. Any imember who shall mnltilatoe the periodicals or papers placedl in tlle Reading-Roon, or remov-e thenm therefroim, shall be liable to a fine equal to f(mrl timlles the cost thereof. ARmT. (6. No periodical work shall be talell from the room until two mollths shall have elapsed from the tilne of its being received. AFRT. 7. No Ceosversanfior, will be allowed in tlhe Reading-roolm, otherwise than in a whisper. AlT. 8. NfAo memWc)er slhall be p)e'littecl to sit in1 the ].,,eadig-RooJ1o'wl ith h7is hcat ont,?nor' wtill,sinto/cinr,( be a(lowed 4ni. anll? o the room.os of, th(e [ssooiation. ART TCLEI OF -_ ITIREENI,IENT BETWEEN 7THE FLINTON ALL ASSOCIATION, OF THE CITY OF NEW YORK, ANDI THE MERqCANTILE LIBIAPiY ASSOCIATION, (OJ the Cit' o'f New Yor)-,, THIS agreement between the "Clinton Hall Asso)ciation of the City of'NewT York," of the first part, and'The Mercantile Library Association of the' City of New York," of the second part, T1'itncsseth, That whereas the Clinton Hall Association, in view of their original plan and articles of snbscription, for the better attainment of the object's for w-hich the Said Associationl was established, have sold the'buililing' called Clinton Hall,' at the soiuth-west corner of NNassuI andl Beckmlan Streets, andlt hlave pnurchased the -premises.known. as the Opera House, situated at'the intersectiion of: Astor Placeanred,Eighth Street, and are altering', arranging, anli fittin, 1.up thte sllame, accordling to their'plans now adopted, they (lo hereby stipulalte and agree with the A[ereanfileL ilb)lrary ASSso-a;iatio11, a,s follows' 2o2,-lARTIC(LES OF ARll, MENXT. 1. That the party of the secondl par)t mayr occupy, free of rent, two rooms in said building, de;sigonated on said plans of the Libraryt and ReIltading-Room, for those purposes; also four apartments, to be set apart hereafter, by the party of the first part, for classrooms (if required) andclother purposes, in accordance with the objects of the Mercantile Library Association and may also use the Lecture Hall for general meetings of the Association, and for lectures to be delivered to its members as often as twice in each week; which privileges shall be enjoyed under such terms and conditions as are hereinafter expressed, and for so long a time as they are fulfilled to the satisfaction of the party of the first part. Additional room for the Library and Reading-room, and additional nights for the use of the Lecture Hall, shall be set apart, if necessary, upon the same condition. 2. That when the cost of altering, arranging, and fitting up said premises at the intersection of Astor Place and Eighth Street, and the cost of the site, with the accruing interest shall have been paid, either by new subscriptions, by the rents of the building, or from any other source, the funds arising from rents shall be laid out in such books, cabinets, or scientific apparatus, as the party of the first part may deem proper;-the said party reserving to itself the right to make earlier appropriations for these puirposes. All such books, cabinets, or apparat.us, shall -3ontinue to belong to the party of the first part, and 3hall be deposited in the building, and be used by the Lnemlbers of the Clinton Hall and Mercantile Library Associations, cunder such regulations as may be made ),y thle partv of the first part for that purpose. ARTICLES OF AGREEMENT. 23 And the party of the second part coth hereby stipulate and agree with the party of the first part, as follows: 1. That its Library shall be deposited in the room, or rooms of said building appropriated to receive it; that the room or rooms set apart as Reading-rooms shall be used by the members for that purpose; and that the Lecture Hall shall be used for the general meetings of the Association, and for the lectures which are delivered to its members. 2. That during the continuance of the agreementlt it will pay the taxes on said building, if any are imposed; and will, at its own cost, keep the rooms it occupies in full and complete repair, and defray such proportion of the expenses of lighting and warming the house as liay be fair and equitable. 3. That the whole income of the party of the second part, after defraying the necessary charges of the establishment, (not including the expenses of lectures), shall be annually invested inl books, which shall be deposited in the Library, with its other books: and'the shareholders of the Clinton Hall Association shall have access to the Library, free of charge, under the same regulations as the menobers of the Mercantile Library are subjected to, without giving to such shareholders a right to vote in the elections of that Association. 4. That in case the Trustees of the Clinton Hall Association shall be of opinion that the party of the second part shall convert the rooms it occupies in the caid building to any purpose not intended by the 24 AI{RTICLES OF. AGREEMIhNXT. party of the first part; orthat the character of the:Herantile.Library Association shall have become so changed that its usefulness shall have ceased; or that it shall have deposited immioral or irreligious books in its Library, and not removed them within twenty days after being advised to do so by the Trutstees of th.e C/liboa fIial Association; or that they shall have wilfully neglected or violated any. of the stipulations contained in this agreement,-then the said' Trustees may call a nmeeting of the Shareholders of the Clinton Hall Association and the Directors of the Mercantile Library Association, and lay before the meetingl the facts to show that either of, these contillgencies has occurred; and.the Shareholders of the Clinton Hall Association, after a full considera.tion, may determine to resume the use and occpation of the rooms so appropriated, and the books, cabinets, and apparatus, purchased by the party of the first part;. and such determination shall be final and conclusive on the party of the second part, who shall:thereupon surrender and give up the premlises,.alndl the. said books, cabinets, and apparatus, to.thei.party of' the first part, and shall remove from said building after thirty days' notice of sulch determlination. 5. That the Shareholders of. the Clinton. Hall As, sociationl may attenld the course of lectures w-hich lmav be delivered to the Mercantile Library AssociatiOll, on thle same termlls as are enljoyed by its melllmbels.-'Iw-.wi-tnslesss whereof, tlhe saLid' lparties lhave. respectively:caused.c thleir corporate.. seals to be hereunto ARITICLES OF A(TR1EEMENT. 25 affixedl, and these presents to be signed by their respective Presidents the third clay of November, one thousand eight hundred and fifty-three. THE CLINTOx HALL ASSOCIATION, By WT;ilso,, G. Hunt, President. [L. s.] THE MERCANTILE LIBRARY ASSOCIATION OF THE CITY OF NEW YORK, By W illard T. Felt, President. [L. S.] P ERMANENT C ATA A OGITE FUND. The President and C:orresponding Secretary of the Mercantile Library Association,,and the President of the Clinton Hall Association, ex o(ffcio, an(l two members of the Library, not officers, shall be the Trustees of said Fund. They shall be known as the Trustees of the " Permanent Catalogue Fun(d," and shall have power to supply any vacancy wihich may occur in their body until the next annual meeting of this Association, when a new Trustee shall be chosen. They shall also have power to appoint their own officers, and to make such by-laws and rules as may be necessary for their own regulation, and shall present an annual report to the Board of Directors at least one week before the Annual Meeting. It shall be the dutyi of said Trustees to invest the principal and accumulations of said Fund in such securities as they may approve, and to deposit all moneys belonging to said Fund, not thus invested, in whatever Savings Bank they mlay appoint. The Trustees shall, at the request of the Board of Directors, pay to them, from year to year, the inco11me of the Fund; said income to be expended under the direction of the Board to prepare a catalogue of the books of the Associations, and for no other purpose. PERMANENT CATALOGUE FUND. 2 7T Whenever, from time, to timle it nmay )be deemed expedient to print any catalogues thllat may lhave been prepared as above, the Trustees slhall advance to tllhe Board of Directors the amount necessary; said Tru;tees to be reimbursed by tlle proceeds of the sale of all Catalog'ues thus printed. and by mnoneys takell from the funds of the Association, sufficient to make the total reimbursement to the Trustees each year at least fifteen (15) per cent. on the amount they may have cadvanced fromI the principal of the fund. WuILsoN G. Hlr-T, Pres. of Clinton Hall Ass'i. M. C. D. BORDEn, " Ier. Lib)rary EDiAIrD HAsJ:LER, Co1. Sec. DA NIEI F. APPIIETrrON, chosen att Ann. Meetimn. ILLAR) L. FELT,' nT u'rse,.