.-xiv PBOCEEDiyGS Of THE GEOLOGICAL SOCIETY, ^vol. Ixxvii, 



(6) As the only possible source of immediate material increase 

 in the income is raising the subscription of Fellows elected pre- 

 viously to the present Session, it is necessary to estimate the 

 probable increase which would result if this coui'se were followed. 

 The total number of Fellows on January 1st Avas 1203, of 

 whom 208 have compounded and cannot be touched ; there were 

 also 81 non -contributing Fellows from whom no subscription can 

 be expected. This leaves 982 contributing Fellows, some of whom 

 already pay at the rate of three guineas : there are consequently, 

 in round numbers, some 950 who might be affected. An increase 

 of a guinea ii-i the subscription would not, however, produce an 

 income of 9.50 guineas, for though a Special General Meeting m.ight 

 make it impossible for any one to retain his Fellowship, if he did 

 not pay the increased subscription, it could not prevent him from 

 resigning, or allowing his Fellowship to lapse, if he was unwilling 

 or unable to pay. The general experience is that any change in 

 subscription leads to a loss of about 20 per cent, of the member- 

 ship, and, if om- case is so far special that the percentage would 

 not be so lii^h, we must reckon on a certain loss of at least 100 and 



. a probable loss of 150. 



Takino- the last-mentioned fisrure, an increase from 2 to 3 oruineas 

 would mean a loss of 300 and a gain of 800 guineas, or a net gain 

 of £525 on the present income, an amount which is but a small 

 fraction of that needed. If the increase were to -1 guineas the 

 resignations would probably not be materially different, but the 

 net increase of income would be raised to some £'1300. An 

 annual conti'ibution of 5 guineas would produce the income needed 

 to maintain our pre-war activity, if there were no material increase 

 in the number of resignations, of which it is impossible to form an 

 estimate. A proposal of this character would indubitably lead to 

 a great upheaval in the Society, its consequences are incalculable, 

 and the risks too great for it to be considered in the present 

 circumstances. 



(7) The only possible means of raising the income to the level 

 required for maintaining the old standard of activity being im- 

 practicable, it is necessary to see whether it is not possible, by a 

 readjustment of expenditure and establishment, to cany on the 

 Society's activities, though in a less degree than formerly, without 

 chanofe in the existing rates of conti'ibution. 



In examining this possibility it will be convenient to take each 

 luajor heading of the Annual Accounts separately. 



House Expenditure. Most of the sub-heads are not susceptible 

 of material modification. On the two sub-headings Fm-niture & 

 Repairs, and House Kepairs tt Maintenance, the actual expendi- 

 ture in 1919 was £99 in all; this we consider inadequate as a 

 regular standard of expenditure. The Society's Apartments are 

 convenient and commodious, but needed a higher expenditure than 

 this for their maintenance before the War : they were put in 

 thorough order in 1911: by the expenditure of £69 J: on redecoration 



