Alteration of Bye-Lo ws. 
xxxi 
cost us 310/., as against 326/. Three 
items not in the 1888 account, viz., 
227/. for pamphlets on various 
practical subjects, 116/. for sundry 
expenses connected with the celebra- 
tion of the Society's Jubilee, and 50/. 
given towards the funds of the 
Mansion House United Association 
on Railwav Rates, bring the total up 
to 8,754/.," against 8.638/. in 1888. 
Adding the 5,000/., which we propose 
to place to the credit of the Windsor 
Show account, a net balance remains 
of 2,013/., which is carried to the 
balance-sheet. 
Summarising very rapidly our 
financial position now as compared 
with twelve months ago, we have, 
added to our funds a total of 2,047/. 
from revenue. Deducting 767/. for 
depreciation, at our accustomed libe- 
ral rate, of country meeting plant, 
books and furniture, and machinery, 
our total assets on December 31. 
18*9. were 38,056/., as against 36,775/. 
at December 31, 1888 (allowing for 
subscriptions and compositions paid 
in advance, but belonging to 1889). 
We are richer by 1,281/. in money, 
and by 2,000 in members than we 
were at the end of 1888. Every de- 
partment of our work has increased 
and is increasing in importance and 
usefulness ; and we shall, on March 
26 nest, complete our fiftieth year of 
corporate existence with a feeling 
that our position is now more con- 
solidated and secure than at any pre- 
vious period of the Society's history. 
In concluding this somewhat 
lengthy summary of the results of 
last year, it is only necessary to add 
that the detailed accounts of the 
Windsor Show were finally passed by 
the auditors on January 6 last, and 
that the auditors' final examination 
of the balance-sheet and ordinary 
receipts and expenditure will take 
place as soon as the cheques for the 
accounts belonging to 1889, which 
have been authorised to-day, have 
been issued and cashed. The ac- 
counts will then, in accordance with 
our customary usage and precedent, 
be published in extenso in the first 
number of the Journal of this year. 
[See pages xii to xix]. 
After some remarks by Mr. Stkat- 
TOX and Mr. Dext, the motion of 
Sir Nigel Kingscote was agreed to. 
Tickets for Stallion Show. 
On the motion of Sir Nigel KlKGS- 
COTE it was unanimously resolved : — 
That the Secretary be authorised 
to issue to any candidate for election 
as a new member, who may make 
application on or before Saturday, 
March 1, a ticket of admission to the 
forthcoming Horse Show at the Royal 
Agricultural Hall, provided that ihe 
usual form of undertaking has been 
previously signed by the candidate, 
and that his subscription for the cur- 
rent year has been paid. 
Alteration of Bye-laws. 
Sir Nigel Kingscote moved. Sir 
JoHX Tiiorold seconded, and it was 
unanimously resolved : — 
That Bye- law 3 (a) passed at the 
Council meeting held on May 1 last, 
be amended by the addition at the 
end thereof of the words " The 
Council may at their discretion elect 
any such Governor or Member, with- 
out further payment by him, as a 
Life Governor of the Society." 
Question of Life Composition. 
Sir Nigel Kixgscote formally 
moved, pursuant, to notice, and Sir 
John Thoeold seconded : — 
That Bye-law 6. passed at the same 
meeting, be amended by t lie addition 
of the words " may upon his election, 
or at any subsequent period, com- 
pound fur all future subscriptions 
(including that for the current year) 
by a single payment of 15/." 
Mr. Stkattox. in moving the fol- 
lowing amendment — 
" That the Life Composition be in 
future 15/. between the ages of 
twenty-one and thirty, and 10/^ above 
the age of thirty " — 
said he was not going to delay the 
Council with many more remarks on 
this subject, because he thought it 
had been sufficiently discussed. But 
he must say that 15/. was altogether 
too high, and that a uniform pay- 
ment for all ages was absolutely in- 
equitable. He thought a 10/. payment 
was sufficient, and had worked well. 
He was quite prepared to see a pay- 
ment of 15/. up to thirty years of age, 
and 10/. afterwards, which would 
meet the difficulties raised in regard 
