6 



reduction in the balance to the Society's credit. Although the total income 

 for the year was £599 10s. lid., or much larger than that of any year since 

 1897, the total expenditure was no less than £684 Is. 4d., necessitating the 

 removal of £84 10s. 5d. from the balance in hand. To remedy this deficiency, 

 the Council propose to issue a comparatively small volume for the year 1905, 

 and they are fortunate in being able to use several plates which have been 

 drawn and paid for in former years. 



The financial position of the Society was carefully considered by a Committee 

 appointed by the Council, and two important changes in procedure were decided 

 upon. It was resolved that in future the Society's accounts be balanced on 

 31st December instead of 31st March as heretofore, so that the financial year 

 shall correspond exactly with the period for which the annual guinea is paid. 

 It was also resolved that the price of the annual volume to non-subscribers 

 (?'. e. to those who do not pay the guinea regularly in advance) be twenty-five 

 shillings net. 



Thanks are due to Miss Elles and Miss Wood for a donation of £5 to the 

 Society's funds. 



Thanks are also due to the Geological Society for permission both to store 

 the stock of back volumes and to hold the Council meetings and the Annual 

 General Meeting in their apartments. 



In conclusion, it is proposed that the retiring members of Council be Messrs. 

 Bell, Hudleston, and Eowe; that the new Vice-President be Mr. E. T. Newton; 

 that the new members be Prof. W. J. Sollas, Mr. F. W. Harmer, and Mr. Philip 

 Lake; that the President be Dr. Henry Woodward; the Treasurer, Dr. G. J. 

 Hinde ; and the Secretary, Dr. A. Smith Woodward. 



Annexed is the Balance-sheet. 



