PROCEEDINGS OF THE SOCIETY. • 241 



AN ORDINARY MEETING 



OF THE Society was held at 20, Hanover Square, W., on 

 Wednesday, April 17, 1918. 



The Minutes of the preceding Meeting, having been circulated, 

 were taken as read, confirmed, and signed by tlie President. 



The nomination papers of Messrs. Lancaster and Whitaker were read. 



The Financial Statement for the year 1917, which should have 

 been included in the Annual Report of the Council, was now presented 

 by the Treasurer and read by the Secretary, and is here inserted. 



Finance. 



The Revenue Account shows an excess of expenditure over income 

 of £141 16s. M. 



Compared with last year, the income of the Society again shows a 

 decrease, the revenue from subscriptions having again fallen, while the 

 total expenditure has increased by some £182 ; the increased cost of the 

 Journal alone being some £151. 



The value of the Society's Securities has been left at the same 

 figure as last vear, the investment account therefore remaining at 

 £1981 Us. 



The Society's holding of £400 of 4^ % War Loan was converted to 

 £421 of 5 % War Loan. 



During the year the sum of £75 19s. 6d. was expended on the 

 purchase of a Zeiss Optical Bench and Projection Apparatus, and this 

 amount has been added to the Property Account. 



: ' During the year one Ijife Composition fee has been received, and 

 the Council has decided to open a special Life Compositions Account. 



The balance from the Revenue Account has been charged against 

 the Reserve Fund, and this fund is therefore reduced by £141 16s. ^d., 

 and now stands at £71 18s. Sd. , 



The Council regret that the high cost of printing and the growing 

 scarcity of paper have compelled them to reduce the issue of the Journal 

 to four numbers per annum instead of six, and the first quarterly 

 number will be issued in March. 



The Balance-Sheet, which had been audited by Col. Clibborne and 

 Mr. Wilson, was exhibited, and is here inserted. 



