22 WORCESTER COUNTY HORTICULTURAL SOCIETY. [1898. 



The expenditure for these purposes was about $10,000, but 

 the increased rent received for our stores makes it a good 

 investment. 



This year, too, the insurance on the building and its contents 

 had to be renewed at a cost of nearly $1,300 ; this was reduced 

 by a rebate in the premium for insurance, brought about by the 

 improvements I have referred to, about $300. 



The extensive alterations and repairs made on our building 

 the past year has involved the borrowing of about $13,000; of 

 this amount $5,350 remains unpaid. 



This is in addition to the mortgage loan, which now amounts 

 to $8,900. 



As will be seen by the detailed report, there is but a small 

 amount of cash on hand ; the annual premiums will soon have to 

 be paid, so that it will be necessary to temporarily borrow more 

 money, and the treasurer requests that he be given the necessary 

 power, under the direction of the Finance Committee. 



If the date for paying the premiums could be extended for a 

 short period, say till the first of January, it would delay the time 

 at which we should have to borrow and thus be a saving of 

 interest, and the sum received in the meantime from the rent of 

 the stores and hall would very materially reduce the amount we 

 should have to borrow. 



There should l)e some way devised to economize the current 

 year in order that our debt should not be increased, but if possi- 

 ble reduced. I would suggest that it might be advisable to 

 reduce the amount paid for premiums, certainly while the Society 

 has to borrow money to meet the annual expenses and the inter- 

 est on our loans. 



It is probable that the maintenance of our building the coming 

 year will not involve large expenditures, and the large item for 

 insurance will not be needed. 



As will be seen by the report the taxes for the past year have 

 been more than for previous years, and with the greatly in- 

 creased expenditures of the city will be likely to be higher 

 rather than lower. 



