Passing on to the annual report and accounts, Dr, Murray said:—"The report and accounts having teen in your hands for som with your permission I will adopt the usual procedure and take them as read. You will see from the accounts that the society is in a satisfactory condition and that 01" activities are well maintained, St, Andrew's Day was celebrated by holding a ball which was a record in the annals of the society; as a social function it was an unqualified success and financially it enabled tus to add a considerable sum to our general funds for charitable pur-Poses. The Caledonian Ball has for many years become an annual feature in the life of Shanghai, and it has now reached such large proportions that I feel I cannot pass without taking this opportunity of expressing special thanks to' the ball committee, who devoted so much energy in order to achieve such a splendid result.
"You will observe that our expenses for the year are in the neighbourhood of $4,300, which is much the same as a year ago, and fare' composed of about $1,000 for necessary expenses and the balance applied to our charities. it will, therefore, be easy to realize that the society's sormal expenditure is out of all proportion to its ordinary income, and that the balance sheet depends largely on the success or otherwise of the annual ball and other social functions, "The other activities of "the society appear in the report -ani call for no comment from me, but before closing my remarks T wish to express my warmest thanks and gratitude to the outgoing committee for their loyal support and active assistance during my tenure of office."
Text read from the printed page and cleaned; old type leaves the occasional error.