TREASURER'S REPORT. 151 



The expenses of the orchard commi'Ltee were also inconsicleiable, iu view of 

 the fact that this committee visited all sections of the State. By inspecting 

 the receipts it will be noticed that Prof. B^al donated 812.98 expenses, making 

 the cash expenditures of the committee only 831.35, — the balance was donated 

 by the members of the committee. 



Mr. Thompson received for his services 8800, Avhich, remembering the fact 

 that he paid his own expenses and devoted nearly all his time to the cause, 

 must be considered very reasonable. Mr. Thompson has my sincere thanks 

 for his valuable aid and co-operation in the management of the finances of the 

 Society. I take occasion to tender thanks to S. L. Fuller, W. Is. Cook, Wm. 

 J. Blakely, and Geo. H. Seymour, for assistance rendered in my department. 

 For my own services I have not charged the Society anything, grateful that I 

 am able to render aid in so good a cause. 



The debt of 1872, which has been paid, amounted to about $350. 



The shipping of reports from Lansing to Grand Rapids, and their distribution 

 from this point, has been the occasion of much labor, and some expense for 

 freight and cartage. This should be avoided hereafter, and a system of dis- 

 tribution from Lansing should be adopted. 



I paid 844.55 for boxing and packing the reports of the Society at Lansing; 

 this evidently is a bill the State should pay. We might with as much pro- 

 priety be called upon to pay for printing the reports, as for their distribution 

 and packing. January 20, 1874, 1 loaned $300 received for life memberships, 

 for one year, at 10 per cent interest. This is the nucleus of a permanent fund, 

 which I hope to see increased to at least 810,000. 



The revenue of this Society is gained from annual memberships, from its 

 fairs, from donations, and from life memberships. 



It is very evident that if we should expend the money received for life 

 memberships, we might eventually cut off a main source of revenue. But if 

 the 810 paid for a life membership is invested at 10 per cent interest, the pro- 

 duct is one dollar per year, just the price of an annual membership, so that 

 a life membership at 10 per cent is a perpetual life membership. No revenue 

 is lost. 



This fund should be increased to 810,000, and the Society should not be 

 satisfied with a cent less. To this fund the State should make an annual 

 appropriation, and every member should work for its increase with untiring 

 vigilance. Let this be done, and the society has a sound financial basis. 



Respectfully submitted, 



HENRY SEYMOUR, Treasurer. 



Grand Rapids, February 1, 1874. 



