SOCIETV AI'l'AlkS '^11 



111 the annual Lkxtinn of r.i'iO a tntal of ;i per cent of the votinji; 

 nienil)ership participated. Surely a healthy sij^n ! 



Tlie tellers appointed hy the President have certified to the Secretary 

 the follnwint; election results: President, R. C. Bryant; Vice I'resi- 

 dent. P. (".. Redin^ton ; Secretary. P. 1). Kelleter ; Treasurer. E. TI. 

 l-'rotliin^ham ; Member Executive Council, l\. Zon. 



Pall D. KKLurn-k. 



Rki'ort of thk Treasuki-r i-ok 1!)20 



It has only been with the helpful cooperation of the Editor that the 

 finances of the Society have been sufficient to carry on the work of 

 the Journal during the past year. The increased cost of publication 

 has made it necessary for him to restrict the size of some of the issues 

 and delay the publication of certain articles. 



It will be seen that the figure given m the following table for the 

 publication and distribution of the Journal ($5,147.82) includes 

 $1.118.8.'^ for the printing of the last two issues of the preceding vol- 

 ume. The average cost of printing and distributing the ten issues 

 covered in the present report was Sol 4.78 for each issue. This is an 

 average cost per copy of 43 cents as compared with 38 cents last year 

 and 32 cents the previous year. In other words the cost has increased 

 33 per cent during the two years, in spite of the fact that the size of 

 the magazine has been somewhat reduced. In this connection it should 

 be mentioned that bids were secured from printers in Baltimore, Phila- 

 delphia, and New York, but none were as satisfactory as that of the 

 Washington printer to whom the work was given. 



The receipts from advertising and from the sale of back numbers 

 of the magazine have increased encouragingly. The increase in the 

 subscription rate which was voted on at the last annual meeting will 

 be a greater source of revenue during the coming year than it was 

 last year, because the change did not go into eflfect until most of the 

 subscriptions had been paid. The excess of assets over liabilities is 

 $797.85 as compared with $()43.21 at the beginning of the year. 



On the whole the finances of the Society are in better condition than 

 they were a year ago, and unless the cost of printing continues to 

 advance, it should be possible to increase the size of the magazine and 

 the usefulness of the Society. 



