370 PROCEEDINGS OF THE SOCIETY. 



died or resigned (1 compounder and 13 subscribers). The present 

 list of Fellows includes, therefore, 473 Ordinary Fellows, 50 

 Honorary, and 88 Ex-Officio Fellows, or 611 in all. 



Finances. 



The net increase of revenue during the year (exclusive of the 

 entrance fees of the new Fellows), has amounted to 64Z., and in 

 addition the Council have been able to invest a sum of 2601. — an 

 exceptionally large amount — received for Compositions, which, with 

 200Z. last year, and the cash in hand, has brought the capital account 

 to ui)wards of 2300Z. 



The Compositions received from existing Fellows, together with 

 the suras received from time to time by way of donations, amount to 

 1935Z., so that the invested capital is considerably in excess of this 

 amount, — the result of investing the whole of the Compositions 

 without, on the other hand, releasing a proportionate sum on the 

 death of a compounding Fellow. The Council are of opinion that, 

 having regard to the amount of the investments, it will not be neces- 

 sary any longer to adhere to this course, but that Compositions may 

 in future be dealt with as revenue, provided the full amount due to 

 living compounders at any time and all sums received for donations, 

 are represented by investments, and the capital account is not reduced 

 below its present amount. 



Library, Instruments, &c. 



The Donations during the past year have been acknowledged from 

 time to time in the Proceedings of the Meetings, and inckide 

 Maudl's ' Anatomic Microscopique,' 2 vols., from Dr. Carpenter, C.B. ; 

 an old model of a Microscope formerly belonging to Mr. John Quekett, 

 from Mr. C. F. White ; and, from Mr. Crisp, Smith and Sowerby's 

 'English Botany' (1st Ed.), 41 vols., two Microscopes, &c. 



The Council have decided that some of the books should be 

 allowed to circulate as soon as a catalogue can be prepared. 



Proceedings at the Meetings. 



The Council have been gratified to note the increase in the attend- 

 ance at the monthly Meetings. Taking the average for the five years 

 ending 1878 as a basis, the increase in 1879 was nearly 30 per cent., 

 and in 1880 50 per cent. 



The Council attribute this increase to the fact that the papers 

 presented to the Meetings have for the most part been simimarized 

 and not read in extenso, thus leaving more time for the shorter notes, 

 and allowing a greater variety of subjects to be dealt with, with 

 greater interest on the part of the Fellows generally. The number 

 of the pages of the ' Transactions ' proper has been somewhat reduced ; 

 but on the balance of advantage and disadvantage, the Council 

 understand the opinion of the Fellows to be in favour of the course 

 which has been adopted. 



