Monday , May 29 , 1893 . 
357 
necessarily cost more for editing, printing, postage, &c., than the 
half-yearly issue which it has succeeded, the Council believe that the 
advantages to the members of receiving their Journal at fixed and 
more frequent periods greatly counterbalance the increase of expense. 
It is satisfactory to note that, notwithstanding the greater size of 
the annual volume now presented to members, the cost per member 
of the annual production of the Journal is less than it was five 
years ago, before the introduction of the new printing and delivery 
arrangements. Comparing the three years (1890-92) with the last 
three years of the old printing arrangements (1885-87), it is found 
that the cost of the Journal per member is now 4s. 9 d., as against 
4s. 11 d. The Society now prints and circulates 12,000 copies of a 
volume of over 1,050 pages at a nett cost of 2,610/. (or 4s. Ad. per 
volume) on the average of the last three years, or only 400/. more 
than for 10,000 copies of a volume of less than 900 pages under the 
old system. 
10 . In consequence of the inadequacy of No. 12, Hanover Square, 
for the rapidly increasing operations of the Society, the House 
Committee have for some time been engaged in making inquiries 
as to more suitable premises, the necessity for which has become 
imperative. The Council are glad to be able to announce that the 
efforts of the Committee have at length resulted in the acquisition 
on very favourable terms to the Society of a part of the site of the 
adjoining premises known as Harewood House, through the generous 
action of the Duke of Westminster and Mr. Walter Gilbey in 
undertaking the responsibility of purchasing the property, in order 
to secure such portions of it as may be required for the purposes of 
the Society. 
11 . It is proposed to erect upon this site a new building for the 
accommodation of the Royal Agricultural Society and of such other 
kindred agricultural associations as may wish to be located therein. 
The sum required for the purchase of the freehold of the site and 
for the erection thereon of the new building is estimated at 65,000/. 
After careful consideration, and after consultation with the Society’s 
legal advisers, the Council have resolved to invite subscriptions for 
stock to be issued for an amount not exceeding 65,000/., to carry 
interest at the rate of three per cent, per annum, to be denominated 
Harewood House Debenture Stock, and to be secured upon the 
portion of the Harewood House premises about to be acquired by 
the Society, but without recourse to the Society’s general funds. 
The Duke of Westminster, Mr. Walter Gilbey, and Sir Nigel 
Kingscote have kindly undertaken to act as Trustees under a Trust 
Deed which is about to be executed for the administration of the 
Scheme, and the Council trust that those members of the Society 
who are in a position to do so will accord to it their financial sup- 
port by taking up the Debenture Stock. 1 
1 A copy of the Statement as to the Harewood House Debenture Stock will 
be found on page lxxix. 
