PKOCEEDINGS OF THE SOCIETY. 109' 



Of the Ordinary Fellows — 



380 have paid the annual subscription, 

 of) have compounded, 

 (j have had subscriptions remitted. 



The deaths reported above were those of — 



Mr. Wynne E. Baxter. Elected 1890. 



Mr. John Davis. Elected 1875. 



Mr. William ^add, C.E. Elected 18.s<). 



The Hon. Thomas Kirkman. Elected 1898. 



Mr. Frank Lacy. Elected 1917. 



Mr. Francis E.^Eobotham. Elected 191G. 



Mr. AYynne E. Baxter, who was elected in 1890, became a Member 

 of the Council in 190;'), and was elected Treasurer in 1906, serving in 

 that capacity until 1913. The Society owes mncli to his energ-y and 

 continued active interest in its affairs. 



FINANCE. 



The Revenue Account shows the excess of the expenditure over 

 income as £280. Since the valuation of the Society's securities last year, 

 these have suffered a further depreciation of £177, and this amount 

 has therefore been written off the Investment and Capital Account. 

 The Investment Account, therefore, now stands at £1,(336. 



During the year two life membership fees have been received, and 

 these have been placed to the credit of the Life Membership Account, 

 which now stands at £181 2s. 6rf. 



Compared with last year the income of the Society shows a net 

 increase of £68, but the net expenditure has advanced by £349, the cost 

 of the publication of the Journal alone being increased by £200. 



Fellows of the Society will realize that it is impossible to meet post- 

 war expenses with pre-war subscriptions — unless the membership is 

 greatly increased. The reputation and success of the Society largely 

 depend on the maintenance of i the quality of the Transactions, and for 

 this reason the Council is anxious to avoid the necessity of further 

 reducing; the volume of Transactions. 



The extra commitments for the year 1921 are likely to be heavy, as^ 

 in addition to other necessary items, the Council wish to commence 

 printing a catalogue of the instruments and accessories. 



The Council has had untler serious consideration the advisability of 

 increasing the subscriptions, but have deferred taking action at the 

 present time in the hope that during the coming year the steady increase 

 of subscription and admission fee income will enable the Society to 

 balance its expenditure account. 



It has, therefore, been decided to open a voluntary fund to meet this 

 year's deficit, and all Fellows are invited to subscril)e at least 20s. to this 

 fund. A copy of this report and a special letter will be sent to all 

 Fellows. 



