76 Proceedings. 



consequently must be largely concerned with the work performed by the Institute 

 during the year, and must also take into consideration its financial position, it is 

 obvious that it is the duty of the President to give those explanations that are 

 necessary for a full knowledge of the doings of the society, and for the proper 

 comprehension of its finances. I therefore propose to deal with these two matters 

 first of all ; after which I shall pass to some general considerations respecting the 

 present position of the Institute and the various incorporated societies. 



At the present time the chief work of the Institute lies in the publication of 

 the annual volume of Transactions. I may therefore appropriately commence what 

 I have to say with some brief remarks in reference to the volume — the forty-third 

 of the series — which has been issued during the year. As members are aware, the 

 Proceedings, although still separately issued, are now also bound up with the Trans- 

 actions at the end of the year. The Transactions proper contain 680 pages and 32 

 plates (in addition to numerous figures in the text) ; the Proceedings extend to 128 

 pages. The entire volume thus comprises 808 pages, and is the largest single volume 

 that has yet been issued by the Institute. In the previous year (1909) the Trans- 

 actions covered 645 pages, and the separate Proceedings 160. In addition, two 

 lengthy papers stretching over 104 pages were printed separately as Bulletins, the 

 total publications for the year thus occupying no less than 909 pages. 



I think it can be said that the recent volume of Transactions compares favour- 

 ably with any of its predecessors. We all recognize that mere size has nothing to 

 do with the value of any scientific publication ; but an examination of the volume 

 will prove to any unprejudiced observer that the quantity of matter contained in it 

 has in no way depreciated in quality, and that the standard of merit of the various 

 papers or memoirs is, on the whole, somewhat higher than in previous years. Person- 

 ally, I think that one or two of the longer communications woidd have gained in 

 value by judicious condensation ; and I am inclined to doubt the expediency of 

 admitting two others of great length and of a very different character from those 

 usually printed. But these are minor matters and do not affect the value of the 

 Transactions as a whole. I consider that the Editor and Publication Committee 

 have discharged their duties in an efficient and admirable manner and deserve the 

 hearty approval of the Board. 



The index to the first forty volumes of the Transactions, first authorized at the 

 meeting of the Board held on the 30th January, 1908, has been completed and 

 printed. It has been compiled by Mr. Eiddick, of the Government Printing Office, 

 and consists of two parts — the first an index of authors, the second a classified 

 catalogue of papers. The total cost of preparation and printing has been a little 

 under £100. Those who have frequent occasion to use the Transactions will find 

 the index a great convenience, and I am much surprised to hear that but few copies 

 have been sold. 



The report of the Publication Committee, which will be duly placed before you, 

 contains several important suggestions, which will doubtless receive the careful con- 

 sideration of the Board. I would particularly draw attention to a recommendation 

 to the effect that theses for honours degrees should be pruned of all superfluous 

 matter before being published in the Transactions. Most of us can recall instances 

 where a regulation to the above effect would have been productive of much advantage. 



In this place I regret to announce that in October Dr. Chilton resigned his 

 position as Honorary Editor, on account of an approaching visit to Europe. With 

 my concurrence, the Publication Committee arranged with Mr. R. Speight to act 

 as Editor until the matter could be discussed by the Board. 



I will now offer some remarks on the financial position of the Institute, which, 

 I regret to say, is causing great anxiety to those who have the management of its 

 affairs. Without entering into details, which will be found in the balance-sheet 

 shortly to be placed before you, I will state that the amount to credit at the present 

 time is about £390. Against this must be placed the sum due to the Government 

 Printer for last year's Transactions and Proceedings, amounting to £'545. The 

 Institute is thus practically in debt to the extent of £155. Now, the reason for 

 this very undesirable state of affairs is perfectly plain, and is doubtless known to 

 all of you. It is simply due to the enlargement of the Transactions, to the separate 

 issue and great amplification of the Proceedings, and to the occasional printing of 

 Bulletins. If we inquire into the cost of the Transactions for the six years between 

 1902 and 1907 inclusive we shall find that it ranges from £350 to £480, the average 

 being £414. If we take the three volumes of the new series--that is, Vols. 41 to 43 

 — with their attendant publications, the result can be given as follows : Cost of 

 Vol. 41, £441 9s. 3d. ; of Vol. 42, £699 12s. ; of Vol. 43, £545 ; the average for the 

 three years being £565. In short, the average cost of the Transactions for the last 

 three years is greater by £151 per annum than the average cost of printing the volume 

 for the previous six years. 



