The balance-sheet and annual report were then read and adopted.

Abstract. The revenue from subscriptions collected was £107 2s., making, with the balance brought forward, £204 11s. The expenditure on the library was £65 6s. 9d., and sundries £26 10s. 8d.; leaving a credit balance of £112 13s. 7d. There is also on fixed deposit a sum of £286 13s. 5d. The liabilities amount to about £30.

Election of Officers for 1892. —President — C. W. Adams; Vice-presidents—Dr. T. M. Hocken and Professor F. B. de M. Gibbons; Council—F. R. Chapman, D. Wilkinson, G. M. Thomson, Alexander Purdie, Dr. Belcher, and Professors Scott and Parker; Treasurer—E. Melland; Secretary—A. Hamilton; Auditor—D. Brent.

The retiring President, Professor Gibbons, then delivered a most interesting address” On the Rise and Development of the Science of Political Economy.