106 ANNUAL MEETING, 



S 



account of the latter has to be kept for the Commissiouers of 

 1851, as their rent depends upon the success of the Society. In 

 the Appendix the accounts will be found stated in this double 

 form. The first three accounts — called the Private Account, the 

 Capital Account, and the Statement of Assets and Liabilities 

 represent the affairs of the Society in its individual capacity. 

 The fourth account, entitled the Revenue Account, has reference 

 to the lease with the Commissioners alone- The accounts which 

 will more directly interest the Fellows are those of Capital and 

 Revenue, the Capital Account as showing the amount of money 

 which has been expended on the works in the Garden, and the 

 Revenue Account as explaining the ordinary working of the 

 Society. 



On referring to the Revenue Account it will be seen that the 



chief source of income is derived from the subscriptions of 

 Fellows. The Council feel that this is the mainstay of thq, 

 Society, and that its prospeiisy must depend upon its possessing 

 a sufficient number of regular subscribers to render it independent 

 of accidents or occasional reverses. The account in this respect, 

 although it does not yet realise all they expect^ gives very satis- 

 factory promise of its soon reaching such a point as will put 

 them at ease regarding it. The total sum derived from the" 

 Fellows in all ways since the 1st May, 1861, has been £8767, 

 but this includes £2373 paid for life compositions, which are 

 capitalised or placed in a separate account, for the purpose of 

 yielding a yearly fifteenth to revenue. Wliat had been paid prior 

 to the commencement of the lease was carried to the general 

 funds of the Society. The above receipts also include the whole 

 year's subscription up to the 1st May, 1862, the subscriptions 

 having hitherto been payable at that date, and thus one years 

 subscription applies to expenses in two years' accounts. This 

 undesirable complication is the consequence of the change in the 

 period of striking the yearly balance, rendered necessary by the 

 New Charter, which requires the accounts now to be balanced 

 each year on the 31st December. The Council, in order to 

 remove this inconvenience, have requested Fellows, in paying 

 their next subscription, to pay only wp to the 1st January, 

 ]863, so that at that date the accounts may start fair, the year's 



subscriptions and the year's expenses both running for the same 

 period. 



There is another complication which the Council are most 

 anxious, if possible, to remove. It will be seen in the statement 



