SOCIETY AFFAIRS 147 



Proceedings was followed this year in the preparation of the budget with 

 satisfactory results, since such sales yielded a net return of $45.84 after 

 providing for the reserve. 



So far as next year is concerned, while it would of course be out of 

 place for me to attempt to present a detailed budget at this time, a few 

 general statements regarding probable receipts and disbursements may 

 be of interest. I understand that the Editorial Board desires an 

 allotment of $2,600 to cover the pubHcation of the new Journal 

 of Forestry. At least $400 more should be allowed for running expenses 

 ($331.48 was actually used for the purpose during the past year), 

 making a total expenditure of $3,000. To meet this we have in sight, 

 roughly, the following receipts : 



Journal of Running 

 Forestry Expenses 

 Annual dues, 322 active members ($3 each 



allowed for Journal ; $2 for running expenses) $966 $644 



Subscriptions : 



25 associate members 75 



270 regular subscribers to Proceedings 810 



14 student subscribers to Proceedings 21 



370 subscribers to Forestry Quarterly 1,110 



Sale of back numbers of Proceedings 75 



Interest on bank deposit .... 15 



Miscellaneous .... 9 



Total . $3,057 $668 



This estimate assumes that all present subscribers to either the 

 Proceedings or the Forestry Quarterly will continue their subscriptions 

 to the Joiirnal of Forestry and that approximately half of the Asso- 

 ciate members will subscribe. On the other hand, it makes no allow- 

 ance for new members, new subscriptions, or advertising. I believe, 

 therefore, that it is safe to predict that if the Editorial Board is able 

 to issue the Journal for $2,600, as estimated, the Society will be able 

 not only to avoid a deficit, but even to add to its present balance. 



S. T. Dana, 



Treasurer. 

 Accounts audited and found correct. 

 C. G. Bates, 



C. F. KORSTIAN, 



Auditing Committee. 



