The accounts, which are accompanied by a full report of the hono-vary treasurer, do not appear to call for any special comment from me, other than to draw attention to our urgent need for increased income. The funds of the society are at a low ebb and unless additional support is forthcoming the work for the ensuing year will be seriously hampered, Our commitments as regards fixed expenditure are fairly considerable, and it will be readily understood that they cannot be reduced without a grave curtailment of the work of the society. I therefore confidently express the hope that animal lovers will not fail to respond to the appeal which is made on behalf of those who are unable to speak for themselves and who rely solely on us humans to protect them from unnecessary suffering.
We have once again to record our appreciation of the financial support so generously given to us by the stewards and members pf the Shanghai Race Club, who have also continued to provide us with office accommodation in the public stand free of all charge.
Text read from the printed page and cleaned; old type leaves the occasional error.