10 



more particularly of the Proprietary Members, to the 

 state of the Proprietary Account, which, having since 

 the commencement of the Society been allowed to accu- 

 mulate at compound interest, threatens at no very dis- 

 tant period to produce the most disastrous results. 



The Council regret that the Report of this Session 

 is somewhat unfavourable as regards pecuniary matters, 

 and that there is a considerable balance due to the 

 Treasurer, but hope that this will not be considered as 

 discouraging to the prospects of the ensuing Session, but 

 rather as a stimulus to exertion in endeavouring to in- 

 crease the number of Members and Subscribers. 



During the Session one additional ordinary Mem- 

 ber and seven Subscribers have been elected, but the 

 Council observe with regret that this number is not 

 sufficient to supply the vacancies occasioned by the death 

 of Members, and the loss of subscriptions caused by 

 some of the ordinary Members having purchased Pro- 

 prietary Tickets. 



On the whole, while the past year is not to be con- 

 sidered among the most brilliant in the history of the 

 Society, the Council have reason to feel convinced that 

 the same enthusiasm in the cause of science and litera- 

 ture which led to its formation twenty years since, sub- 

 sists in undiminished force in the breasts of many of 

 those who took part in its first proceedings, and that all 



