X \ 1 



GENERAL TREASURER'S ACCOUNT. 



July 1, 1921, to June 30, 1922. 



The General Treasurer is able to present a more satisfactory report 

 than was possible last year. 



This is chiefly due to : — ■ 



(1) The great generosity of Sir Charles Parsons. 



(2) The legacy of £450 from Mr. T. W. Backhouse. 



(3) The success of the Edinburgh Meeting. 



(4) The economies effected. 



The appreciation in the capital value of our investments is also 

 a matter for congratulation. 



We cannot, however, count on a recurrence of such favourable 

 events. It should be borne in mind that our administrative, print- 

 ing, and other expenses are certain to increase as the activities of 

 the Association are extended. I trust, therefore, that the favourable 

 report now presented will not banish from the minds of our members 

 the need for economy. 



E. H. GRIFFITHS, 



General Treasurer. 



