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securities being the Bonds of the Corporation of London, or 
Guaranteed Indian Railway Debentures, or Debenture Stocks. 
14c. All moneys received on account of the Institute shall be duly 
paid to its credit at the Bankers, and all cheques shall be drawn, 
under authority of the Council, and shall be signed by the Honorary 
Treasurer and Honorary Secretary. 
15. The accounts shall be audited annually, by a Committee, con- 
sisting of two Members, — one of whom may be on the Council, — to 
be elected at an Ordinary Meeting of the Society preceding the 
Anniversary Meeting. This Committee shall make a written Report 
to the Council at the first Meeting after such audit, and also to the 
Institute, upon the day of the Annual General Meeting, — stating 
the balance in the Treasurer’s hands and the general state of the 
funds of the Institute. 
16. Both Members and Associates shall have the right to be 
present to state their opinion, and to vote by show of hands at all 
General and Ordinary Meetings of the Society ; but Members only 
shall be entitled to vote by ballot, when a ballot is taken in order to 
determine any question at a General Meeting. 
§ III. Bye-Laws (Privileges). 
1. A Member or Associate, when elected, shall be so informed by 
the Secretary in a printed copy of the letters, Form B, in the 
Appendix. 
2. Members and Associates shall not be entitled to any privi- 
leges, or have the right to be present, or to vote at any of the 
Meetings of the Society, till they have paid the contributions due 
by them. 
3. Annual subscriptions shall be considered as in arrear, if not 
paid on or before 31st March in each year, or within three months 
after election, as the case may be. 
4. Should any annual subscription remain in arrear to the 
30th June, or for six months after election, the Treasurer shall 
cause to be forwarded to the Member or Associate from whom 
the subscription is due, a letter, Form D, in the Appendix, unless 
such Member or Associate reside out of the United Kingdom ; in 
which case the Form D shall not be sent unless the subscription 
continues unpaid till the 30th September. 
5. If any arrears be not paid within twelve months, the Council 
