10 



" The effect is that landowners who at the present time are 

 willing to meet the national demand for timber by largely 

 increasing their felling and sale of timber, can continue to be 

 assessed for income tax under Schedule B on an annual value 

 and run no practical risk of liability for Excess Profits Duty." 



Home Forest Industries. 



The Council has appointed a Committee to consider what 

 steps might be taken by the Society to encourage and foster 

 Home forest industries, such as Trade Nurseries, Home Nurseries, 

 and Home Timber concerns, and would welcome suggestions 

 from members on this subject. 



Home-Grown Timber Committee. 

 The Government has appointed a Committee — 



"To purchase and convert standing timber, to supply 

 such timber to Government Departments, and 

 generally to make arrangements for further utilisa- 

 tion of native timber resources." 



The Society is represented on the Committee by the Hon. 

 Secretary, Sir John Stirling-Maxwell, Bart. 



A small Consultative Committee for Scotland has also been 

 appointed to advise the Executive Committee, and the Society's 

 representative on this Committee is Mr Galloway, who has also 

 been asked to act as Secretary. 



Members having timber — either standing or manufactured — 

 for sale are recommended to communicate with the Home- 

 Grown Timber Committee, 29 St Andrew Square, Edinburgh. 



On the motion of the Chairman, the Council's report was 

 unanimously adopted. 



(The Chairman's speech, and the discussion which followed 

 upon it, are printed on p, 69 of the Transactiotis.) 



Finances. 



The Abstract of Accounts for the year ending 31st December 

 1915, which had been printed and circulated amongst the 

 members, and also the accounts in connection with the Dunn 

 Memorial Fund, both of which had been duly audited, were 

 formally submitted for adoption. 



Mr W. H. Massie, in moving the adoption of the accounts, 

 said : " We have suffered a little from the war. This year 

 especially Life Subscriptions have dropped very largely. In 

 1914 they were ;^i8o; this year they are only £2^. Of 



