It may be remarked that the estimate of Assets does not 

 include the value of the Society's Library nor that of the 

 collection of living animals, both of Avhich are of con- 

 siderable amount. 



The amount paid for the freehold of the Society's 

 premises (No. 11 Hanover Square and No. S\A\ Oxford 

 Street) was, as was stated in the last Report^ £22,225. 

 To this amount must be added the value of the lease of 

 the Hanover-Square portion held by the Society, which, 

 at the time of the purchase, was estimated to be £1500, 

 making the total value of the freehold at the date of the 

 purchase £23,725. To this sum, in order to arrive at the 

 total value of the freehold, an addition (of £225) is made 

 annually in respect of the increasing value of the premises 

 in Oxford Street, the lease of which will run out altogether 

 about 3^ years hence. 



d. Davis Trust-Fund. 



With the view of increasing the income of the Davis- 

 Fund, a change has been made in its investment since the 

 last Anniversary. The sum of £l994 9s. 2cl. Consols, 

 originally purchased by Mr. Davis's legacy, has been sold 



