TRANSACTIONS, «fcc. 53 



mittee of seven, wlio were instructed to erect the elegant and com- 

 modious Hall, in which we are assembled. This work was success- 

 fully accomplished, and in the autumn of last year the Society 

 celebrated a feast of dedication. 



The cost of the Lot was - - $6,847.30 



And the cost of the Building was - 11,278.35 



Making the cost of the Estate - - $18,125.65 



exclusive of the fixtures and furniture, for which, a very large sum 

 was expended. This sum, and the liberal expenses of the exhibi- 

 tions, without which they could not be attractive and successful, 

 exceeding in, amount $3000, have been charged to current expenses. 



The Society authorized a mortgage of this estate to the seven 

 members of the Building Committee, to secure them for their liabil- 

 ity, in signing a note to the Worcester County Institution for Savings, 

 for $12000, borrowed to pay for this estate ; and thereupon, these 

 seven members of the Society burdened their credit and their estates 

 with this obligation for $12000, which could not have been obtained 

 for the Society, without such personal liability. 



The debt of the Society on this day, consists of the 



Loan from the Wor. Co. Ins. for Savings and Interest, $12,160.00 

 A Loan from an individual and Interest, - - 1,183.16 



Cash advanced by the Treasurer, - - - 180.28 



Making the aggregate of debt, - - - $13,523.44 

 From this, assets are to be deducted, consisting of 

 A good Note and Mortgage with Interest, 



soon to be paid, - - - $888.14 



Rent to this day accrued, not due, - 368.99 



Net receipts at this Exhibition, probably 268.45 1,525.58 



Which leaves a balance of debt this day, - - $11,997.86 



The amount of the annual Rents of the building is $1,600 per 

 annum, which, after payment of interest, taxes, repairs, and annual 

 expenses, yields several hundred dollars to be applied to the reduc- 

 tion of the debt. But this reduction will proceed at a slower rate 

 than the signers of the $12,000 note, for the benefit of the Society, 

 have a right to claim, that a reduction should be made, to release 



