It will be observed that the principal falling off has 

 been in the Garden Receipts and in the amounts received 

 for Admission and Composition Fees from newly elected 

 Fellows. There can be little doubt that the widespread 

 depression that has prevailed throughout the past year 

 was the cause of this diminution of the Society's Income 

 in common with that of other bodies of a similar character. 



b. Expenditure. 



After adding to the Income of 1885 the balance carried 

 forward from 1884 (£1247 10^. 2d.), it will be found that 

 the sum of £27,057 0*. 3c?. was available for the expen- 

 diture of 1885. This amount was disposed of in the 

 following manner: — The ordinary payments in 1885 

 amounted to £24,593 lis. 8d., and the extraordinary to 

 £491 Os. 6d., making a total expenditure of £25,084 

 12*. 2d. The sum of jglOOO was paid to Messrs. Drum- 

 mond in reduction of the Mortgage Debt of £11,000 

 secured on the Society's new freehold premises. This 

 left a balance of £972 8s. Id. on the 31st of December 

 last to be carried over for the benefit of the present year, 

 as will be seen by the following abstract of the Balance- 

 sheet : — 



