10 president's address. 



had taken over the responsibility of only one portion of the en- 

 dowments, devised by Sir William Macleay. Since then, addi- 

 tional responsibilities have devolved upon the Council, in taking 

 over and carrying out in its entirety, Sir William's scheme of 

 endowments, the last item of which, namely, the endowment of 

 four Fellowships, is now almost on the eve of realisation. When, 

 therefore, in the early part of the year, the Council was approach- 

 ed by a private member, with some suggestions, it decided to con- 

 sider the advisability of a revision of the Rules upon all points, 

 which experience had shown to be capable of improvement. The 

 whole matter was referred to the Society's solicitors for advice, and 

 a Sub-committee was appointed to take action. Finally, after con- 

 sideration by the Council, a draft of the proposed alterations of 

 certain of the Rules, was put before the Members at a Special 

 General Meeting, convened for the purpose, on 27th November, 

 and carried; and subsequently confirmed at a Special General 

 Meeting on 18th December, 1912. The most important alterations 

 provide, if necessary, for a postal vote, instead o£ an ordinary 

 ballot at the Annual Meeting; and for a three-fourths majority in 

 the matter of any alteration in the Rules. As about 40 per cent, 

 of the Members reside outside the metropolitan and suburban 

 areas, in other countries or States, and are rarely able, or quite 

 unable, to attend any of the Meetings, in addition to those who 

 live nearer but are prevented, by professional or other engage- 

 ments, from being present, a more extended franchise than we 

 have hitherto had seemed to desirable, because the large amount 

 of money, whose investment is controlled by the Council, is derived 

 from the trust funds bequeathed by Sir William Macleay. The 

 existing Rules are a legitimate development of the Society's origi- 

 nal Rules, enlarged in scope, from time to time, to meet new con- 

 ditions, arising out of the old ones, as experience required. Just 

 as later Councils have endeavoured to carry out and develop, as 

 new conditions required, the policy of the original Council, when 

 Sir William Macleay was, as he has been described, "the head and 

 heart," as well as the financier, of the Society. And so, as the 

 Council of to-day, has had now more than twenty-one years' ex- 



