Report of the Porty-Sixth Annual General Meeting. 339 



The Chairman : I am extremely sorry to say that the honoured Chairman of the 

 Council has been taken ill and is unable to attend, and so I am suddenly called upon to 

 take the Chair. My first duty is to move the adoption of the Report and Statement of 

 Accounts, omitting for the time being par. 20 which will form the subject of a special 

 resolution. In performing this duty last year under similar circumstances, I gave an 

 address, but on this occasion I have received from Sir J. Bevan Edwards the notes of 

 the speech which he had intended to make, and with your leave I will read them to you, 

 " The Report gives very fully the work of the Institute last year, so I do not propose 

 to take up your time in going through the different subjects ; but will confine my 

 remarks rather to the work that is before us in the immediate future than to that which 

 has been accomplished last year. 



" A perusal of the Report shows that it has been, both as regards the increase of 

 members and of income, the most successful year in the life of the Institute, 2,350 

 Fellows and Associates have been elected, against 1,851 in 1912 ; and the income has 

 been £12,918 as compared with £11,217 for 1912. 



" Turning to the Statement of Receipts and Payments, the net expenditure for the 

 year was £12,979 lis. 2d., as compared with £9,981 17s. 8d. for 1912 ; and, notwith- 

 standing this large increase in expenditure, the Institute commenced the present year 

 with a balance of £1,812 6s. 8d. — including £1,000 added to the Reserve Fund which 

 now amounts to £1,250. 



" With reference to the question of expenditure, there has been an increase in nearly 

 every item, chiefly due to the expansion of our work and the large increase of Fellows. 

 " The Accounts show that, under the headings of Salaries, Pensions, Wages, Enter- 

 tainments, and Auditing, the payments were nearly the same as in 1912, On the 

 other hand, postages have increased by £390 12s. 5d. ; the Journal by £798 lis. 6d. ; 

 Year Book by £273 10s. 4(i. ; Furniture and Building Renewals and Repairs by 

 £218 16s. Id. ; and Lecturing Department by £292. 



" Then under the heading of ' Recruiting ' should be placed five items which are noAV 

 given separately, viz., £304 13s. 9d., being payments to Mr. Garrison on account of 

 recruiting Fellows and Associates, £292 10s. for the Secretary's visit to South Africa, 

 £131 10s. 2d. for Mr. Colquhoun's visit to South America, £50 to Lieutenant R. B, 

 Ward's expenses of his tour in parts of Europe, and £30 Os. id. for the expenses con- 

 nected with the formation of Local Committees. The total of these live is £808 14s. Zd. ; 

 but to compare the expenditure under this item in 1912, we must deduct the cost of 

 the Secretary's tour to Canada in that year, viz., £218 10s., making the actual increase 

 under this heading for 1913 £590 4s, 3d. 



" Then we have extraordinary and unforeseen expenditure in this year's accounts, 

 amounting to £429 8s, 6d. 



" If we turn to the Balance Sheet, you will see the soundness of our financial position. 

 Our only liabilities are £1,187 14s, 5d., due to outstanding accounts ; and, on the other 

 side, our Assets amounting to £72,107 4s. 8d., showing a Balance in favour of Assets of 

 £70,919 10s. 3d. 



" Now I should like to say a few words on the subj ect of the expenditure of £808 1 4s. 3d, 

 which I have already mentioned above under the head of ' Recruiting.' This sum 

 represents the amount expended during the year in obtaining new members over and 

 above those proposed by our Corresponding Secretaries or by other Fellows of the 

 Institute, It is not possible to state the exact number obtained from this source ; 

 but Mr, Garrison proposed 361, Mr, Colquhoun 36, and the Secretary, who is always 

 recruiting, was responsible for 240 as a result of his visit to South Africa, Both the 



y2 ■ 



