( xviii ) 



" We desire that the Bye-Laws of the Society be altered by 

 substituting in Chapter XIII, 3, for £15 15s. the figures £21, 

 and give notice under Bye-Law XXI accordingly. 



Gilbert J. Arrow. R. Meldola. 



R. Shelford. A. II. Jones. 



T. A. Chapman. Guy A. K. Marshall. 



Louis B. Prout. G. B. Longstaff." 



Mr. A. H. Jones, the Treasurer, then formally moved the 

 above amendment, seconded by Mr. H. Eowland-Brown, and 

 after some discussion the Meeting was adjourned to March 4th. 



SPECIAL GENERAL MEETING. 

 Wednesday, March 4th, 1908. 



Mr. C. O. Wateuhouse, President, in the Chair. 



Projyosed Alteration of a Bye-law. 



The discussion of the proposed alteration of Ch. xiii, 3, by 

 substituting for £15 15.s. the figures £21, adjourned from the 

 previous Special Meeting, was resumed, after the circulation 

 of the following data as to composition fees among the 

 Fellows present : — 



Data as to Composition Fees, Ent. Soc. Lond., to 

 January 1st, 1907. 



Up to 1849, 20 Fellows compounded, and enjoyed (average) 



38*4 years each. 

 1850-1869, 22 Fellows compounded, and enjoyed (average) 



38 years each, and 13 survive. 

 1850-1886, 48 Fellows compounded. Of these — 



20 have died with (average) 23-5 years. 

 28 survive, with ( ,, ) 35 „ 



Since 1886 (last 20 years) 37 have compounded, and only 3 

 have died. 

 Composition fees have been invested only since 1868: — 

 £870 18s. invested (includes £100 from sale of collections) in 

 £893 consols, present value £768 — a loss of 12% of capital. 

 Yield (after paying income tax) is 2-53 % on capital invested. 



On tliese figures, compounders pay for 18 years' fellowship 

 (less, if loss of capital be taken ipto account), and receive 38 



