11EP0RT OF THE COUNCIL, MAY 1, 1850. 



151 



Although, in considering the pecuniary position of the Society, 

 the Council do not possess an exact knowledge of the value of the 

 property existing in Regent- street and at the Garden, yet, assum- 

 ing as correct some of the data of former years, and reducing the 

 last valuation of other uncertain sums from 10 to 20 per cent., it 

 appears that the fixed and floating property possessed by the 

 Society at the date of the Auditors' report was as follows : — 



£. 



Lease of the house in Regent-street . . . . 4 , 000 



Library, &c., there ....... 900 



Furniture there 180 



Effects at the Garden, and lease of the Garden . . 12,000 

 Estimated value of stock of Transactions, Journals, 



Fruit-catalogues, copper-plates, wood-blocks, &c. . 865 

 Amount of unpaid subscriptions due May 1, 1849, sup- 

 posed to be good ....... 505 



Amount of unpaid subscriptions for the past year now due 2 , 730 

 Miscellaneous assets, consisting of rent due, unpaid divi- 

 dends, and sums due for Journals, &c. sold . . 60 



£ 21,240 



The debts then, amounting to 8034/. 5s. 3d., and the property 

 bearing the value of 21,240/., the balance in favour of the 

 Society is at least 13,205/. 14s. 9d. 



When the By-laws of 1849 were agreed to by the Society, 

 the Council was authorized to create a class of Associates with 

 fewer privileges than Fellows, and subject to a smaller admission- 

 fee and annual subscription. Upon full consideration, the Council 

 have not thought it expedient to make use of this power ; but 

 they have arrived at the opinion that the present amount of the 

 admission-fee is prejudicial to the interests of the Society, and 

 they therefore intend to take the earliest opportunity of proposing 

 to the Society that in future the admission-fee, for Fellows, shall 

 be two guineas instead of six guineas. 



The Garden. 



The Garden is held of his Grace the Duke of Devonshire, 

 upon a lease for sixty years, from September 29th, 1821, is 

 dated March 21st, 1822, and was re-executed for the purpose of 

 registration on the 14th April, 1823. The rent paid is 300/. a 

 year, and the lease is renewable every thirty years, for ever, on a 

 fine of 450/. It will be necessary to give notice before September 

 29th, 1851, of the Society's desire to renew the lease for a further 

 term of sixty years, provided it should appear desirable to do so ; 



