10 



tl. Gcitcnil Stdte of I he Finances. 



Before concluding the financial part of their Report, the 

 Council think it right to acknowledge tliat the excellent 

 way in which the Society's accounts have been kept, which 

 has been repeatedly brought to their notice by the Com- 

 mittees of Finance and Audit, has been mainly due to the 

 assiduous and constant attention of Mr. John H. Leigh, 

 the Society's Accountant, who has now completed fifty 

 years in the Society's employment. In acknowledgment 

 of the great services thus rendered, the Coimcil have una- 

 nimously agreed to present Mr. Leigh with a memorial in 

 the shape of a gold watch and chain of the value of fifty 

 guineas, which will be delivered to him this day by the 

 Chairman of the present Meeting. 



3. Purchase of the Freehold of the Society's 

 House and of the House adjoining at the back. 



In their last Annual Report the Council announced 

 that the unusually favourable state of the finances in 1876 

 had determined them to commence a second Reserve Fund 

 for the special purpose of enabling the Society to procure 

 better accommodation for the Offices and Library than is 

 at present afforded by this House. With this view the 

 sum of £.3000 had been invested in the purchase of £3104 

 155. 9d. Consolidated .3 per Cents., to form the commence- 

 ment of a "New Offices Reserve Fund." In 1877 it 'was 

 determined to take more active steps to ascertain how the 

 necessary accommodation could best be provided, and a 

 special Committee of the Council was appointed for the 

 purpose. 



After much consideration and inquiry the Committee 

 came to the conclusion that the most convenient and 

 advantageous way of providing the necessary accommoda- 

 tion would be to pui'chase the freehold of the present house 

 (No. 11 Hanover Square) and of the house immediately 

 adjoining it at the back (No. 314^ Oxford Street), these 

 houses belonging both to the same owner, and the lease 

 of the Oxford-Street portion being terminable in about six 

 years. 



The Council accordingly entered into a contract with 

 Messrs. Cooper for the purchase of the freehold of the 



