REPORT FROM THE COUNCIL 



ANNIVERSARY MEETING, MAY 1, 1854. 



At the last Anniversary the Council had to report that the 

 debt of the Society had been increased by the sum of 121L 1 6s. 6d. 

 It is their duty now to state that, although the income of 

 the Society has improved, yet an addition has been unavoidably 

 made to the debt of 1Q21. 14s. 8(/. 



The Debt on April 1, 1853, was . . ,£7408 8 2 

 Since diminished by Compositions, to 



the extent of 367 10 



£'7040 18 2 

 But the Ordinary Income having been 

 less than the Expenditure by the 

 sum of 530Z. 4s. 8d., that sum has 

 to be added to the Debt . . . 530 4 8 



Making the Debt on April 1, 1854 . £'7571 2 10 



Showing a Balance against the Society upon the Year 

 of 162L 14^. Sd. 



On the other hand, they are able to announce the reduction of 

 the interest upon the Society's loan notes from five to four per 

 cent. ; the discontinuance of an allowance of 60Z. a year to the 

 late Mr. Munro, and an increase in the rents receivable from 

 the tenants of the House in Regent Street. 



The balance sheet as signed by the Auditors is as follows ; — 



