372 



securities being the Bonds of the Corporation of London, or 

 Guaranteed Indian Railway Debentures, or Debenture Stocks. 



14c. All moneys i-eceived on account of the Institute shall be duly 

 paid to its credit at the Bankers, and all cheques shall be drawn, 

 under authority of the Council, and shall be signed by the Honorary 

 Treasurer and Honorary Secretary. 



15. The accounts shall be audited annually, by a Committee, con- 

 sisting of two Members, — one of whom may be on the Council, — to 

 be elected at an Ordinary Meeting of the Society preceding the 

 Anniversary Meeting. This Committee shall make a written Eeport 

 to the Council at the first Meeting after such audit, and also to the 

 Institute, upon the day of the Annual General Meeting, — stating 

 the balance in the Treasurer's hands and the general state of the 

 funds of the Institute. 



16. Both Members and Associates shall have the right to be 

 present to state their opinion, and to vote by show of hands at all 

 General and Ordinary Meetings of the Society ; but Members only 

 shall be entitled to vote by ballot, when a ballot is taken in order to 

 determine any question at a General Meeting. 



§ III. Bye-Laws (Privileges). 



1. A Member or Associate, when elected, shall be so informed by 

 the Secretary in a printed copy of the lettei's, Form B, in the 

 Appendix. 



2. Members and Associates shall not be entitled to any privi- 

 leges, or have the right to be present, or to vote at any of the 

 Meetings of the Society, till they have paid the contributions due 

 by them. 



3. Annual subscriptions shall be considered as in arrear, if not 

 paid on or before 31st March in each year, or within three months 

 after election, as the case may be. 



4. Should any annual subscription remain in arrear to the 

 30th June, or for six months after election, the Treasurer shall 

 cause to be forwarded to the Member or Associate from whom 

 the subscription is due, a letter. Form D, in the Appendix, unless 

 such Member or Associate reside out of the United Kingdom ; in 

 which case the Form D shall not be sent unless the subscription 

 continues unpaid till the 30th September. 



5. If any arrears be not paid within twelve months, the Council 



