Otago InstiUite. 715 



The balance-sheet and annual report were then read and 

 adopted. 



Abstract. 



The revenue from subscriptions collected was £107 2s., making, with 

 the balance brought forward, £204 lis. The expenditure on the library 

 was £G5 6s. 9d., and sundries £26 10s. 8d. ; leavmg a credit balance of 

 £112 13s. 7d. There is also on fixed deposit a sum of £286 13s. 5d. The 

 liabilities amount to about £30. 



Ei.ECTiON OF Officees FOR 1892. — President — C. W. 

 Adams; Vice-presidents — Dr. T. M. Hocken and Professor 

 F. B. de M. Gibbons ; Council— Y. E. Chapman, D. Wilkin- 

 son, G. M. Thomson, Alexander Purdie, Dr. Belcher, and 

 Professors Scott and Parker ; Treasurer— Fi. Melland ; Secre- 

 tary — A. Hamilton; Auditor — D. Brent. 



The retiring President, Professor Gibbons, then delivered a 

 most intei'esting address " OntheEise and Development of the 

 Science of Political Economy." 



