him to compound for his future subscriptions at a reduced rate. In 1911 the receipts from the same source amounted to £454 15s. 0d., but in that year the Society received two life subscriptions of ten guineas each. The Council regret that there is no reduction in the amount due in respect of subscriptions in arrear, which now stands at £43.
It is proposed to amend Rule III. of the Society's Rules by making the terms of composition more elastic. At present any member after paying a single subscription may become a Life Member upon payment of the sum of Ten Guineas, no matter what his age may be, and it costs a member of 30 or 40 years' standing precisely the same sum to compound for his future subscriptions. The Council are accordingly summoning a special meeting of the Society to be held immediately after the Annual Meeting, at which it will be proposed to cancel the existing rule, and to substitute for it a New Rule under which no member will be allowed to become a Life Member until after he has paid five subscriptions to the Society, and a sliding scale is fixed for compounding future subscriptions — fifteen, ten and five guineas being the amount payable according as a member has subscribed to the Society for five, ten or fifteen or more years. The Council feel that this modification in the existing rule will meet an objection to which expression has on several occasions been given by some of the older members of the Society.
The salvage stock of the Society is not being disposed of so rapidly as the Council could wish. Applications for copies should be addressed to Mr. C. J. Tabor, The White House, Knotts Green, Essex, who undertakes to deal with them with the greatest despatch. The price is 4s. per volume, carriage free, with all faults.
The Accounts and Balance Sheet for the year are submitted herewith.
W. Crooke,
February, 1913.
