lieport  of  the  Finance  Committee. 
lili 
He  was  sure  tliat  it  would  be  the 
wish  of  the  Council  to  pay  their  tribute 
of  respect  to  the  memory  of  these  two 
distinguished  men,  who  in  tlieir  re- 
spective spheres  did  so  much  for  the 
Society  and  for  the  cause  of  agriculture. 
They  had  passed  to  their  rest  full  of 
years  and  honour. 
Unhappily  they  had  just  lost  another 
colleague  in  Mr.  Joseph  P.  Terry,  who 
died  on  Sunday  last.  Mi'.  Terry,  as  a 
member  of  the  Chemical  Committee, 
had  rendered  valuable  practical  assis- 
tance in  the  management  of  the 
AVoburn  Experimental  Farm,  and  he 
had  also  acted  as  steward  at  the  Shows. 
He  could  himself  bear  testimony  to 
the  value  of  Mr.  Terry’s  counsel  on 
the  Stock  Prizes  Committee.  He 
joined  the  Council  in  1890,  and  his 
loss  would  be  greatly  regretted. 
Election  of  New  Governors  and  Members. 
The  election  of  two  Governors  and 
1G3  Members  was  then  proceeded  with. 
Finance. 
Sir  IsiGEL  Kingscote  (Chairman) 
reported  that  the  accounts  for  the 
period  ended  July  23,  1904,  as  certi- 
fied by  the  Society’s  Accountants, 
showed  receipts  amounting  to  9,234Z. 
12.«.  lOrf.,  and  expenditure  amounting 
to  9,075/.  0.S-.  2d.  Accounts  amounting 
in  all  to  11,709/.  3.<.  2d.  relating  to 
the  recent  Show,  and  to  2,481/.  3.v.  Td., 
arising  out  of  the  ordinary  business  of 
the  Society,  had  been  passed  and  were 
recommended  for  payment.  As  to  the 
means  to  be  adopted  for  paying  these 
accounts,  and  as  to  the  position  of 
the*  Society  generally,  the  Trustees  of 
the  Society  had,  as  requested  by  the 
Council  at  their  meeting  hehl  on  the 
last  daj'  of  the  Show  (June  25),  held 
several  meetings,  and  had  drawn  up  a 
statement  which,  with  the  authority 
of  the  President,  had  been  circulated 
amongst  the  Council  in  anticipation 
of  that  meeting.  In  the  recommenda- 
tions made  in  the  statement  the 
Finance  Committee  concurred. 
On  the  motion  of  Earl  Egerton 
OF  Tatton,  seconded  by  the  Marquis 
of  Granby,  it  was  agreed  (with  the 
assent  of  Sir  Nigel  Kingscote)  that 
this  statement  should  be  regarded  as 
part  of  the  Report  of  the  Finance 
Committee,  they  having  concuiTed  in 
the  recommendations  made  by  the 
Trustees. 
In  the  sub.sequent  discussion  on  the 
Report,  and  matters  arising  thereon, 
Viscount  Baring,  Mr.  Stratton, 
Earl  Egerton  of  Tatton,  the  Mar- 
quis of  Granby',  Sir  Nigel  Kings- 
cote, Mr.  Sanday',  Mr.  Wheeler, 
Mr.  Ransoyie,  Mr.  Christopher 
Middleton,  Mr.  Bowen-Jones.  Mr. 
Ryland,  Earl  Cawdor,  Sir  Walter 
Gilbey,  Mr.  Crutchley',  Mr. 
Harrison,  and  others  took  part,  and 
eventually  the  Report  was  adopted 
unanimously  (as  below),  and  ordered 
to  be  circulated. 
Itejwrt  of  the  Finance  Comm  ittee. 
1.  Since  the  Council  last  met  at  Han- 
over Square  on  June  1,  the  situation  of 
the  Societj'  has  entirely  changed.  The 
second  Show  held  at  Park  RoY'al  has 
been  a very  great  disappointment,  and 
it  is  obvious  that  the  whole  question  of 
the  future  of  the  Society  must  come 
under  immediate  and  careful  review. 
The  Council  are  all  impressed  with  the 
necessity  of  economy  and  the  curtail- 
ment of  expenses,  whatever  may  be  the 
decision  as  to  the  future.  But  the  par- 
ticular directions  in  which  these  are  to 
be  effected  must  necessarily  depend 
upon  what,  after  collecting  the  views  of 
exhibitors  of  implements  and  stock  at 
the  Shows,  and  of  the  members  of  the 
SocietY’.may  be  decided  as  to  the  spheres 
of  usefulness  of  the  Societj'  after  the 
present  j-ear. 
2.  In  accordance  with  the  wish  ex- 
pressed by  the  Council  at  their  final 
meeting  held  in  the  Showyard  at  Park 
Royal  on  the  last  day  of  the  Show  (June 
25),  a meeting  of  the  Trustees  was  held 
on  WednesdavL  June  29,  “to  consider  the 
position  of  the  Society.”  At  this  meeting 
a general  discussion  topk  place,  and  the 
Trustees  decided  to  call  into  their  coun- 
sels certain  other  members  with  special 
experience.  A second  meeting  of  the 
Trusteesandof  their  coadjutors  was  held 
on  TuesdaY'.  Jul>^  5,  when  a statement 
was  laid  upon  the  table  showing  ap- 
proximatelj'  the  receipts  and  expendi- 
ture of  the  Show  of  19()4. 
3.  It  appeared  from  this  statement 
that,  w'hilst  there  would  probably  be  a 
net  economy  in  the  expenses  of  last 
month’s  Show  of  about  5,lii0/.,  as  com- 
pared with  the  Show  of  1903,  the  re- 
ceipts from  nearlj-  every  source  (entries 
of  implement.s,  admissions,  grand  stand, 
catalogues,  &c.)  had  shown  a shrinkage 
which  amounted  in  all  to  4,100/.  Thus 
the  Show  of  1904  would  on  balance  be 
only  1.000/.  less  co.stly  to  the  Society 
than  that  of  1903,  when  there  was  a 
deficit  of  9,680/. ; so  that  a loss  to  the 
SocietY'  of  from  8,500/.  to  9.00(1/.  must  be 
anticipated  from  the  holding  of  the 
Show  of  1904. 
4.  As  the  Council  will  be  aware,  it 
had  onlY'  been  possible  to  finance  the 
loss  caused  by  the  previous  Show  of 
