19 



tion ; and a negotiation is actually pending foi" the sale of 

 a part of it. 



The Council conclude their Report by referring to the 



Report of the Auditors 



for an abstract of the Receipts and Expenditure of the So- 

 ciety during the year 1834, and for a statement of its Assets 

 and Liabilities at the close of that year. To some of the facts 

 deducible from these statements the Council have already 

 taken occasion to advert while remarking on the subject of 

 Finance. 



On one point comprised in the statement of Receipts, the 

 Council think it necessary to observe in explanation, that 

 the Consolidated Stock therein reported as sold, is the 

 amount sold early in 1834 and reported by the Council at 

 the last Anniversary as having been at that time actually 

 replaced ; and that the £1000 Exchequer Bill sold is one 

 of the £2000 recorded on the opposite page as having been 

 purchased in the course of the year,— a purchase which was 

 effected with the especial view of securing a reserve to meet 

 the demands anticipated in the winter on account of the Con- 

 tracts Pending. 



The Members will bear in mind, that the Auditors deal 

 only with the moneys actually received and expended within 

 the year for which they act, and with the debts and assets at 

 its conclusion. Their Reports consequently do not include 

 a statement of the amount of expenditure actually incurred 

 within the year. This statement is exhibited by the Account 

 Books under the improved system which has been followed 

 for several years ; and as it will probably not be mthout in- 

 terest to many of the Members to trace the progress of the 

 Society's financial concerns, the Council subjoin a general 

 view of the moneys received and of the expenditure incurred 

 in each year of the Society's existence. 



