History of the Society. 37 



Societies kindred to our own, and a considerable number of 

 documents and pamphlets. 



Our collections are growing in importance ; besides a few 

 Birds, they comprise several interesting antiquities of the 

 district, an excellent collection of local Communion Tokens, 

 and a growing collection of Fossils. Our Herbarium, so 

 often referred to in the preceding remarks, is still an object 

 of interest to many ; but perhaps what will prove to be our 

 most interesting possession is that shown to-night by Miss 

 Dickson of Greenbank, Perth. It is " The National League 

 and Covenant " of 1638 signed in Dumfriesshire. We are 

 particularly proud to possess this unique memorial on account 

 of its local importance, and I am sure we accord Miss Dickson 

 a most hearty vote of thanks for her thoughtful presentation. 

 We have also to thank Mr W. J. H. Maxwell for his gift of 

 the manuscript of the first three volumes of our Transactions, 

 and Mr M. H. M'Kerrow for his donation of a collection of 

 portraits of our past Presidents. 



As regards our finances, it is necessary to make some 

 preliminary explanations. An extraordinary expenditure of 

 upwards of ;£^5o was incurred in our last financial year by the 

 production of a second volume of Transactions ; this was 

 necessary so as to bring- our publications up to date. 



I have already stated that up to 1907 the Life Membership 

 fees were improperly regarded as income. The present 

 occasion seemed an opportune one for putting this right : in 

 our balance sheet, therefore, we have shown as capital a 

 sum sufficient to represent the Life Membership fees which 

 have been paid to our Society since its institution. This fee 

 varied from jQi 2s to ^£,'5, in accordance as to whether it was 

 payable before or after 1896. The total amounts to ;^.8i 2s, 

 which has now been invested at 37} per cent., and which sum 

 will, I sincerely trust, for ever afterwards be regarded as 

 funded capital of the Society, the interest only on which can 

 be looked to as annual income. We have also the " Starke 

 Bequest " for special purposes of ^'150 as an investment at 

 35 per cent. 



It was decidcti, as will be remcmbcreti by our Members, 

 that the most useful way in which to permanently com- 



