REPORT OF THE COUNCIL, MAY 1, 1852. 175 



Upon analysing the items in the Balance-sheet, and compar- 

 ing' them with tlie corresponding items in the accounts of last 

 year, it will be found that the receipts have been greater by the 

 sum of 558/. 0*. lOd., as shown by the folhjwing statement : — 



It will also be observed that in the present year the amount 

 of 241/. 10*. received for compositions is not included, although 

 84/. form part of the receipts called income in the previous 

 year. If this last sum is removed from the account, as it must 

 be if a fair comparison is to be instituted, the increase of real in- 

 come during the year will amount to 642/. Os. lOd. In sub- 

 scriptions there is a falling off of 291/. 14*. 8d., in great measure 

 on account of the small amount of old arrears left to be collected 

 after the operations of previous years. Such arrears in fact 

 amount, at the date of this Report, to no more than 672/. 5s. 4r/., 

 of which it is supposed that about 130/. is irrecoverable. On 

 the other hand, although the admission fees have been reduced 

 from 6/. 6*. to 21. 2*., the total received for them is 18/. 18*. 

 more than last year ; a very important feature in the account. 

 In fact while only 22 Fellows paid their admission fees in 

 1850-1, the number tliis year has increased to 51. 



The particulars of expenditure in ISoO-l and 1851-2 are 

 given in the following statement : — 



