Page:The journal of the Royal Geographic Society of London. Volume 34, 1864. (IA s572id13663720).pdf/11

Rh have had available for investment in the Funds a sum of 1,837l., for which there has been purchased 2,000l. amount of Stock in Three per Cents.

The differences between the estimated and actual receipts are occasioned by the collections for annual subscriptions, life compositions, recoveries of arrears and entrance fees, having exceeded the estimate made at the beginning of the year. The expenditure, on the other hand, as regards the cost of the Journal, and salaries and office expenses, has fallen below the estimate; whilst the portion of the expenditure in excess of the amount in the estimate in respect to the items of gratuities, rent, and taxes, is but trifling, the excess thereon having amounted to 80l.

No private money donations have been received this year.

The current accounts standing against the Society at the close of the year are all in course of liquidation, and every endeavour is to be made to pay all charges as they are incurred, or within the year; measures having been taken to ensure in future, as far as practicable, an immediate or at least a very early settlement of all liabilities, as well as to enforce a more speedy payment of sums due to the Society. And, in accordance with the suggestions of the Auditors, a monthly concurrent audit of the charges, receipts and transactions will be fully effected before the close of the year.

The Estimate (vide A. B.) for the present year, ending 31st December, has been carefully prepared; and, as no unusual expenses are anticipated, the Council hope to find the results of the year as favourable to the Society as for the past year, and the funds thus becoming available may be applied for more extensively carrying out the objects and general operations for which the Society was formed.

Arrears.—The arrears of subscription owing to the Society on the 1st January last, amounted to about the sum of 600l. due from various members, of which it has been found impossible to recover, up to the present date, more than 174l. Of the remainder the Council expect to recover about 250l., but regret to have to report that from various circumstances the recovery of the balance, amounting to about 150l., is very uncertain, and it will probably be lost. In order, however, as far as possible to limit any future increase to the number of defaulters, the Council have