iv PROCEEDINGS OF THE ROYAL HORTICULTURAL SOCIETY. 



The Council have made contracts for : 



£ s. d. £ s. d. 

 The foundations .... 2,340 0 0 

 The building .... 32,440 0 0 



34,780 0 0 



and have paid to the contractors 



the sum of ... 10,379 7 10 



There is therefore a liability to the contrac- 

 tors amounting to 24,400 12 2 



and a deficiency as compared with the amount 

 collected to date of 11,399 2 1 



to which must be added the cost of furnishing the Hall. 



This amount will have to be met either by further donations, by a 

 mortgage, or by realising the investments of the Society. These invest- 

 ments are as follows : — 



Consols .... £8,310 13 9@ 861 = £7,199 2 7 

 Local loans . . . £5,800 0 0 @ 97£ = £5,655 0 0 

 Rupee paper . . . Rs. 37,000 @ 63§ = £2,349 10 0 



and I would suggest — 



(1) That so much of the investments as may be required should be 

 lodged with the bank as security for a temporary loan until it can be seen 

 what donations may be expected. 



(2) That after a time a mortgage be obtained, for so much of the deficit 

 as is necessary, from the North British and Mercantile Insurance Company. 



(3) That at a favourable opportunity some of the investments of the 

 Society be sold in order to pay off the mortgage. 



Financial Statement re New Hall Income. 



Our income last year, as by Report, was in excess of the expen- £ s. d. 

 diture by 3,641 0 0 



Assuming that we make the same income in the future as in the 

 past, there should be deducted therefrom : 



Less 



Hall expenditure : 







d. 





£ 



s. 



Ground rent .... 



690 



0 



0 



Insurance 



30 



0 



0 



Rates (on £1,500) 



525 



0 



0 



Water 



35 



0 



0 



Fuel and stoker . 



150 



0 



0 



Light 



55 



0 



0 



Repairs 



150 



0 



0 



Telephone 



7 



0 



0 



Caretaker at 30s. 



75 



0 



0 



Lift 



32 



0 



0 



Interest on, say, £16,000 at 4 









per cent 



640 



0 



0 



: Saving in rent of oflice . 



203 



3 



0 



Rent of Drill Hall . 



128 



14 



0 



2,389 0 0 

 332 0 0 



£2,057 0 0 



£1,584 0 0 



So that, without taking credit for any extra rentals which may be 

 received from letting the Hall at times when it is not in use by the Society, 

 our surplus income will be reduced by over £2,000. 



