264 JOURNAL OF FORESTRY 



much to do with the Editorial Board's exceeding its allotment. The 

 abundance of good material available for publication, resulting in some 

 large but expensive editions, has also been a contributing factor. Even 

 though the Editorial Board exceeded its allotment, the actual cost of 

 the Journal has been only 34 cents per copy — a decrease of 4 cents over 

 that of the Proceedings in 1916. 



The postage and stationery allotments were exceeded simply because 

 of the increased activities of the Society. There has been a great deal 

 more correspondence during the past year than in the previous one, 

 with the consequent use of more stationery and postage. This is a 

 tendency which should be noted in the preparation of next year's budget 

 and due allowance made accordingly. Increased postal rates now in 

 effect will augment this tendency. 



The actual increase in receipts in each case, except from annual dues, 

 over those estimated has been gratifying. Although fully 88 of the 

 old subscribers to the Forestry Quarterly failed to subscribe to the 

 Journal of Forestry^ new subscriptions have nearly made up the loss. 

 A large number of these were due to the eft'orts of the advertising and 

 subscription manager. The sale of back numbers has been brisk and 

 the first year's advertising campaign has exceeded expectations. 



The Society should make a sustained effort for a number of years to 

 accumulate a comfortable bank balance. During the last two years 

 there has been some increase in this respect. It can be augmented 

 through an increase in membership and in subscribers, by an increased 

 number of advertisers, and last by curtailing expenses as much as pos- 

 sible. A greatly increased list of subscribers is desirable, particularly 

 subscriptions by institutions, such as public libraries and colleges. 

 These are perfectly reliable, will when secured probably continue in- 

 definitely upon the subscription list, and when the nature of the publi- 

 cation is revealed to them will in some cases wish to purchase complete 

 sets of back numbers. The supply of these now on hand will thus 

 become a tangible asset. 



With an increased subscription list, it is probable that it will be 

 easier to build up the number of advertisers. Such concerns as handle 

 sawmill machinery, rifles and revolvers, sporting-goods houses such as 

 Abercombie & Fitch, houses handling woodsmen's shoes and clothing, 

 and manufacturers of scientific instruments used by foresters should 

 eventually appear as advertisers in the Journal. 



In the purchase of supplies, such as stationery, and in letting out 

 printing contracts, the Secretary and Treasurer by carefully looking 

 into the possible sources of supply and of printing can effect a con- 

 siderable saving. 



