1919 inclusive) it seems fair to assume that the expenditures and the receipts 

 have about broken even. There is still a small amount in back dues that has 

 not been collected which is partly offset by the advance payments recorded. 

 The cost of printing has greatly inci eased, and a very decided economy has been 

 necessary in the matter of plates and the size of editions, as well as the number of 

 pages per issue. It seems to be possible to continue for a while at the present 

 rates for dues and subscriptions, but this may not prove possible much longer. 

 The Secretary is free to state that the apparent costs are as low as they are only 

 because certain members have most generously contributed without cost, ma- 

 terials for plates, and have refused to send in bills for expenditures in the way of 

 postage and supplies foi which they should by rights, have been reimbursed. 



In conclusion, the Secretary wishes to assure the members that he will do 

 all that is in his power to make the coming year a successful one for the Society. 

 He also wishes to extend to each member most cordial greeting and good wishes, 

 and regrets that the pressure of work necessitates taking this general method, 

 instead of the personal letter which he would prefer to write 



Summary of Accounts 

 Receipts 



Balance on hand, December i, 1918 S127.62 



Dues for current year 185.70 



Subscriptions for current year 68.44 



Arrears collected 6.20 



Advance payments 6.60 



Sales of back issues and sets 43.30 



Incidental receipts, advertising, etc 27.66 



Received through combinations, for Dr. Grout 8.05 



Receipts from Hasse Lichens 22.85 



S496.42 



Expenditures 



Minor printing and stationery $ 15.20 



Postage, bank fees, and incidentals 14.82 



Paid to Dr. Grout 8.50 



Herbarium expenses 7.19 



Purchases for members. 7.20 



Express and transportation charges 5.16 



Plates for the magazine 14.75 



Printing, seven issues Bryologist and Index 303.65. 



$376.47 



Balance on hand, November 30, 1919 $119.95 



I496.42 



Edward B. Chamberlain, Secretary-Treasurer 



