of its publications again within the last year by nearly 30 per 

 cent. This question must receive the serious and careful 

 consideration of the Council during the coming year. 



The large stock of Publications which has been for several 

 years at the Natural History Museum, has hitherto stood in a 

 heap in one of the semi-public passages in the basement. It 

 was impossible from this to select any volumes required, or 

 to know what the heap actually contained. Through the 

 intervention of Mr. J. H. Durrant the authorities of the Museum 

 very kindly offered the Society a much more suitable position 

 in which to store this valuable property. Kacks were made and 

 the Publications were placed in such a position and in such 

 order that any particular volumes are always accessible. The 

 cost of this operation was £15 18s. M. 



The balance at the end of 1919 of £207 3s. Od. standing to 

 the credit of the General Account, has been during the year 

 transferred to the Housing Fund. In consequence of this, 

 and of certain unforeseen expenses which had to be incurred 

 towards the close of the year, there is a small deficit in the 

 General Account of £1 Os. 8d. On the other hand there are 

 satisfactory balances of £206 7s. Od. in favour of the Com- 

 pounding Fund which will be invested at once, and £51 5s. Id. 

 in favour of the Library Fund (New Books). 



I regret to report that in consequence of the general deprecia- 

 tion of stocks, there has been a further fall during the year in 

 the Society's holdings in Consols and Birmingham 3 per cent, 

 of £98 Is. Id. 



I should like here to say Something of the future financial 

 prospects of the Society, but there are certain factors which 

 are not yet su£S.ciently developed to enable me definitely to 

 do so ; so far, however, as I can see from present indications, 

 and providing certain sources of income and capital materialise 

 as they should reasonably be expected to do from information 

 I possess, I have no hesitation in saying that the Society is 

 in sight of the end of its very serious difficulties, and I trust 

 that in its new home it will develop to standards of prosperity, 

 progress, and usefulness far higher than it has risen to hitherto. 

 I hope to refer to this question again a year hence. 



The Treasurer also read the Financial Statement, and 



