8 TRANSACTIONS OF THE AMERICAN INSTITUTE. 



as is required for the Annual Fairs anywhere within reasonable 

 distance from the business portion of the city, with the limited 

 means which the Institute can devote to that purpose, is, at the 

 present day, somewhat doubtful. 



For more than 30 years the Annual Fairs of the Institute have at- 

 tracted to the city many thousands of strangers, and the opinion has 

 long been entertained that the authorities recognizing the advan- 

 tages which the city has derived from the Fairs, would furnish 

 the necessary groujids on which the Institute might erect appro- 

 priate buildings. This hope is not yet abandoned ; the city has 

 it in its power to put the Institute into possession of grounds 

 admirably well adapted to its wants, and the Institute has suflS- 

 cient means to erect thereon the necessary buildings. 



It is ardently hoped that the mutual benefits so obviously to 

 be derived from this suggestion may lead to mutual co-operation, 

 and the desired result be consummated between the Common 

 Council and the American Institute within the coming year. 



The financial affairs of the Institute has improved during the 

 year ; there is now no floating debt against it, and its liabil- 

 ities are about $4,000 less than they were the previous year. 



The Library is in an improved condition, and continues to be 

 a popular and useful branch of the Institute. 



WILLIAM HALL, 

 JOHN GRAY, 

 DUDLEY S. GREGORY, 

 WILLIAM HIBBARD, 

 THOMAS McELRATH, 

 HENRY MEIGS, 

 BENEDICT LEWIS, Jr. 



Trustees. 



