1 will read you again the chief points. Last year the annual and Voluntary" subs. and the interest on debentures together totalled about $10,000.00, Against this we have to put a regular heavy expenditure for rental, taxes, salaries and office expenses, Which leaves a deficit the year's working of about $2,400.- 00,—not a large sum when think of the bers.
So far this deficit has been met by the 15 per cent. taken from the Favre money (the usual pereentag that is paid to the Headquarters fund from all entertainments that take place). This sum is nearly atanend, and we are faced with fa deficit at the end of the year, You will notice incidentally that though Headquarters. Fund is credited with a balance of $5,644.00 in the Report, $1,700.00 is really the sum, given by the Dramatic Section, which had not then Leen transferred to the Endowment Fund.
T am putting this before yous because it is the responsibility of each individual member, and not: fof the Executive Committee only, to see that the Association should be placed on a firm financial foot ing, and it is for all members—especially those who make great use of Headquarters,—to plan how this deficit may be met.
The voluntary subscriptions were unfortunately much less Iast_ year! than in 1924, owing partly to the: increased annual subscription, and partly to the fact that members did npt, I think, realize the true state affairs.
The annual subscription of $5 is such a small sum to pay, when you think of all that is provided, for, members. that it should surely be possible for each, to give a small amount, over and) above the subscription, to keep. the, Association on solid ground.
Text read from the printed page and cleaned; old type leaves the occasional error.