PREFACE 



DUPJNG the period included in last session a committee 

 was formed for investigating the financial position 

 of the Institute, with a view to equalising the income and 

 expenditure more nearly than at present. Owing to the excess 

 of the latter over the former, the Council requested the Trustees 

 to sell out a sum of £200 consols from the reserve fund, and 

 this, owing to the low price of consols, only produced £198 3s. Id. 

 At the same time, in order to still further meet our obligations, 

 an appeal was issued to Members and Associates, which up to 

 the present has brought in the sum of £46 lOs. M. I cannot 

 suppose that this sum represents the extent to which our 

 adherents are able and willing to help the Institute to maintain 

 its position. Amongst the numerous appeals which are con- 

 stantly being made to them for objects more or less worthy, 

 it is probable that this appeal may have escaped the notice of 

 many "who would be willing to subscribe. A list of subscribers 

 is appended to the Eeport, and is still open. Our main cause 

 of expense is the heavy rent of our offices. Yet, their desirable 

 and convenient situation, and their long association with the 

 Institute, induces the Council to hesitate before removing to 

 other offices less expensive but less eligible. Personally, your 

 Secretary, whom the Committee kindly took into their counsels, 

 feels the greatest disinclination to move to another office, and 

 has offered to relinquish a considerable part of his salary in 

 order to ease the financial situation. This proposal, however, 

 the Council w^ould not accept, and so the matter stands. It 

 should be stated that during the examination of the accounts 



