PBOCEEDIN"OS OF THE SCIENTIFIC SOCIETIES OF LOXDOiN-. 449 



members and two foreign members liacl also been elected since tlie 

 previous anniversary. The report then proceeded to state that the 

 Council had again the pleasure of reporting a considerable increase 

 in the income of the Society. The income of the year 18G3 had 

 amounted to £20,284. 12^ lid, a sum unexampled except in the 

 two Exhibition years ; but the income of the past year had 

 exceeded that sum by £1429, the total receipts for 1864 having 

 amounted to £21,713. 13<s lOd. This increase was due to the aug- 

 mentation of nearly all the principal sources of receipt, amongst 

 w^hicli that of admission to the gardens and annual subscriptions 

 (resulting from the increased number of members) were the most 

 noticeable. The number of visitors to the Society's Gardens had 

 also largely increased during the year 1864, the entrances having 

 amounted to no less than 507,169, a number which placed the year 

 18G4 as exhibiting a more favourable aspect, in this point of view, 

 than any of the preceding years, except the two Exhibition years. 

 After adding to the income of 1864 the sum of £2,043. 105 6^, 

 being the balance carried forward from the previous year, and the 

 sum of 562677. 10^, being the proceeds arising from the sale of 

 £3000. Eeduced 3 per Cents., there remained a total sum of 

 3626434. 145 4^d available for the expenditure of the year 1864. The 

 ordinary expenditure of the Society paid during the year 1864, under 

 which head had been placed every item necessary to keep the 

 Society's establishment in a perfect state of efficiency, had been 

 s817,207.105 7d. The extraordinary expenditure paid during the same 

 period had amounted to 367,681. 12s 9 J, making a total expendi- 

 ture of £24,889. Ss M, and leaving a balance in the banker's hands, 

 at the end of the year, of 361,544. 9* 6d. The report then stated that 

 the reserve fund of the Society invested in Three per Cents. Eeduced 

 amouDted to £10,000., and that while the Council had no intention 

 of diminishing this reserve fund, they did not think it necessary or 

 even desirable to increase it beyond that amount ; that the cash 

 assets of the Society, on the 31st of December, 1864, had amounted 

 to £10,900. 12s 4id, and that liabilities at the same period had been 

 estimated at 363434. 17^ 7d, leaving a balance in favour of the Society 

 of 368,871. 165 6d', that the sum of £403. 85 had been devoted to 

 expenses connected with the Society's library during the past year. 

 The Council had resolved on fitting up the upper portion of the 

 Old Museum building in the Society's Gardens as a gallery for the 

 exhibition of the Society's collection of water-colour drawings by 

 N.H.R.— 1865. ^ 2 H 



