4 

 literary contributions; and to the other gentleman, 

 The Chevalier Michelotti, of Turin, the Society 

 owes its best thanks for the unasked present of an ex- 

 tensive and valuable collection of fossils characteristic 

 of the Tertiary formation, from the neighbourhood 

 of Turin. 



The Council has much pleasure in being enabled to 

 give so favourable an account of the fuHds of the 

 Society. Up to the year before last it will be in the 

 recollection of many, that the debt upon the Ordinary 

 Account was much on the increase, and although, it is 

 true, by the great exertions then made, the balance 

 was nearly paid off; yet the Treasurer's statement this 

 year offers for the first time, at least for many years, 

 the novel feature of a small surplus in the receipts 

 over the expenditure. It is highly desirable that 

 attention should scrupulously be given to this point, 

 in order that in future the expenses may, as nearly as 

 possible, be balanced by the income, so that there 

 may not again be the incubus of an accumulating 

 debt upon the ordinary funds. 



The debt upon the Proprietary Account, arising in the 

 first instance, from two shares in the Building being un- 

 appropriated, and which originally amounted to £200, 

 has now, by lying at compound interest, mounted up 

 to nearly double that sum, and unless some scheme 

 shall speedily be devised for paying it off, there appears 

 to be no other prospect, but that in the course of a 



