Report by the Council. 



The Secretary read the Annual Report of the Council as 

 follows : — 



I. Membership* 



At the close of 192 1 the membership stood at 1724 and 

 remained at the same figure at the close of last year. This 

 does not mean that there has been no change. On the 

 contrary, there have been 230 changes — 115 new members have 

 been elected and the same number have been removed ; 33 of 

 these by death, 37 by resignation, and 45 by lapsing. Amongst 

 those whose death has been recorded are John Mackay, late factor, 

 Lauderdale ; George Fraser, late factor, Dalzell ; A. F. Irvine 

 of Drum., Fres. Aberdeen Branch ; Alex. M'Pherson, forester, 

 Poltalloch; H. J. Elwes of Colesborne, Cheltenham: Prof. Sir 

 Isaac Bayley Balfour. 



2. Subscriptions. 



The Council is glad to report that the notice to members 

 requesting punctual payment of subscription has had a good 

 effect. It will be observed that a similar request has been 

 made this year. Subscriptions are payable on ist January, 

 and a great deal of unnecessary expenditure in printing and 

 postage would be saved if members would remit early. Those 

 still in arrear are urged to remit when their Transactions will 

 be forwarded. • 



3. Investments. 



As instructed at last Annual Meeting the Council consulted 

 the Stockbrokers with regard to the Railway Stocks held by 

 the Society, and the advice obtained was to the effect that these 

 investments should be retained. 



4. Transactions. 



Two Parts of the Transactions applicable to last year have 

 been issued, and it is expected that the usual two Parts will be 

 issued in the course of the current year. 



Some further conversation has taken place in the Council on 

 the subject of the proposed fusion of the Transactions with the 

 English Quarterly Journal of Forestry, but no formal proposal 

 was before the meeting. 



