o exii 
The number of volumes bound or rebound is 99, and this 
work will be continued in the present year as far as funds 
permit. 
From the records in the office, 184 Books and Separata 
have been borrowed during the year. In this connection, it 
may be mentioned, that the list of works (valuable, rare, 
bulky, and of frequent reference) not allowed out on loan 
has been revised by the Council. This may be consulted by 
Fellows in the Office. 
The Library has not been used for consultation during the 
year to the extent that was expected, but no doubt as its 
convenience becomes more known, more use will be made of 
it. At the present time a series of dictionaries is being 
obtained, and these will be available in a few weeks. 
The Report was adopted on the motion of Mr. T. H. L. 
GROSVENOR, seconded by Mr. Stantey Epwarps. 
The Treasurer’s Report. 
The TREASURER then read the following Report :— 
It is my great pleasure to be able to report at this the first 
Annual Meeting held in our new freehold home, that thanks 
to the generous assistance received from the Fellows, the 
finances of the Society have been placed upon a sound basis, 
and that there is every prospect of its being able to carry out 
its proper and necessary objects free of anxiety so far as 
finance is concerned. 
The organisation of expenditure during the past year has 
not been without difficulty; for the experience gained under 
the old conditions could not be relied upon, the new conditions 
being so different. For this reason it was necessary we 
should base our expenditure upon an estimate of the probable 
amount of income that would accrue during the year, and 
that we should keep it down as much as possible to avoid 
the unpleasant experience of the first year’s working showing 
a deficit. Thanks to certain unexpectedly favourable financial 
features, which will appear later, the result has been that 
the income for 1921 has exceeded the expenditure by the 
substantial sum of £124 4s. 9d., which I trust will be considered 
a very satisfactory commencement of the new conditions, 
