Annual Meeting of the Board of Governors,
18th May, 1933.
The annual meeting of the Board of Governors of the New Zealand Institute was held on Thursday, 18th May, 1933, in the Biology Lecture Hall, Victoria University College, Wellington.
Roll Call: The Vice-President called the roll of members of the Board for 1933, and there were present the following:—Messrs B. C. Aston, M. A. Eliott, W. R. B. Oliver, Dr E. Marsden (representing the Government), Professor H. W. Segar, President, and Mr A. T. Pycroft (representing Auckland Institute), Professor H. B. Kirk and Dr E. Kidson (representing Wellington Philosophical Society), Dr C. Coleridge Farr and Professor R. Speight (representing Philosophical Institute of Canterbury), Professor T. H. Easterfield (representing Nelson Institute), Professor J. Park (representing Otago Institute), Mr G. V. Hudson (representing Hawke's Bay Philosophical Institute), Dr P. Marshall (member co-opted under Section 3 (b) Amendment Act, 1930.
His Excellency the Governor-General and the Rt. Hon. the Prime Minister were both absent from Wellington.
Presidential Address: Professor Segar read his presidential address, and in doing so referred to the loss sustained by the Institute in the death of several members and honorary members. He mentioned that three honorary members had passed away, namely, Professor J. W. Gregory, D.Sc., F.R.S., F.G.S., late of the University of Glasgow; Sir Ronald Ross, discoverer of the malarial parasite; and Sir Arthur Thomson, M.A., LL.D., Regius Professor of Natural History at the University of Aberdeen. At the conclusion of the address Professor Easterfield moved a hearty vote of thanks to the President for his address, and asked that he allow it to be printed in the Transactions. Carried unanimously.
Motions of Sympathy: Resolutions of sympathy with Mr G. M. Thomson, who had recently undergone a severe operation, and with Sir Thomas Sidey, who also was seriously ill, were carried on the motion of Dr Farr.
Notices of Motion were then called for and received.
Fellowship N.Z. Institute: The President then read the report of the Fellowship Selection Committee, which was as follows:—“As the number of Fellows may not at any time exceed 40 (Regulation 22), and the present number is 39, it was open to the committee to select only one. The committee selected Professor H. G. Denham, M.A., M.Sc. (N.Z.), D.Sc. (Liverpool), Ph.D. (Heidelburg).” On the motion of Professor Park, seconded by Professor Speight, the report was unanimously adopted.
It was resolved on the motion of Dr. Farr, seconded by Professor Kirk, that the procedure to be edopted in connection with the notification of subsequent vacancies in the Fellowship be left to the Standing Committee to arrange.
Incorporated Societies Reports and Balance Sheets: The reports and balance sheets of the following incorporated societies were laid on the table:—Auckland Institute, for the year ending 31st March 1933; Wellington Philosophical Society, for the year ending 31st October, 1932; Philosophical Institute of Canterbury, for the year ending 30th September, 1932; Otago Institute, for the year ending 30th November, 1932; Nelson Institute, for the year ending 30th September, 1932; Hawke's Bay Philosophical Institute, for the year ending 31st December, 1932.
Manawatu Philosophical Society: On the motion of Professor Segar, seconded by Mr Eliott, it was resolved that it be recorded with regret that the Manawatu Philosophical Society is no longer in active operation. The Board hopes that steps may soon be taken to resuscitate it.
Report of the Standing Committee for the Year Ending 31st March, 1933.
Meetings: Six meetings of the Standing Committee were held during the year, the attendance being as follows:—Mr B. C. Aston, Wellington, 6; Mr M. A. Eliott, Palmerston North, 1; Dr C. Coleridge Farr, Christchurch, 2; Mr G. V. Hudson, Wellington, 6; Dr E. Kidson, Wellington, 6; Professor Kirk, Wellington, 4; Dr E. Marsden, Wellington, 2; Dr P. Marshall, Wellington, 2; Mr W. R. B. Oliver, Wellington, 5; Professor H. W. Segar, Auckland, 1; and Professor D. M. Y. Sommerville, Honorary Editor, 5.
Board of Governors: Owing to the resignation of Dr L. Cockayne, F.R.S., C.M.G., a vacancy occurred in the Government representation on the Board of Governors. Mr M. A. Eliott, who had previously represented the Manawatu Philosophical Society, which has now ceased to exist, was appointed by the Government to fill the vacancy.
Under the Amendment Act, 1930, the Board of Governors has power to co-opt an additional member, and at the wish of the last annual meeting Dr P. Marshall, on the 3rd August, 1932, was appointed to the Board.
Finances: Several meetings of the Finance Committee have been held during the year and strict control of the reduced finances has been kept. A limited amount has been authorised from time to time to be spent on each part of Volume 63, and the Secretary's salary has been still further reduced. Administration expenses have been kept as low as possible largely owing to the generous assistance of incorporated societies in paying their share of the pooled travelling expenses of members of the Board attending the annual meetings.
The grant of one thousand dollars (with favourable exchange amounting to £289 Os 2d) from the Carnegie Corporation of New York is being spent in publishing Volume 63, Part 1 (exclusive of the Proceedings), Part 2, and a portion of Part 3. A statement was forwarded to the Carnegie Corporation at its request showing how the grant is being utilised.
Publication Matters: The Otago Daily Times Company continues to print the Transactions, and although this firm increased its price for printing by 2s per page, it was considered that this increase was reasonable in view of the fact that the volumes being printed are so much smaller than those upon which the tender of this firm had been based. The first two parts of Volume 63 have been published, and Part 3 is in the press.
Sales: £29 9s was obtained from the sale of the Institute's publications during the year, and in accordance with a resolution of last year this amount has been credited to the Endowment Fund. In order to increase the sales of Transactions it was decided to accept annual overseas subscribers at 30s per annual volume instead of £2 as at present. The question as to whether this reduced annual subscription should be accepted from New Zealand subscribers who are not members of an incorporated society was referred to the societies for consideration. Auckland Institute was the only one which objected to the concession on the plea that it would militate against people becoming members of an incorporated society. No definite action has been taken in the matter, and a decision by the Board is desired.
Exchange List: On the recommendation of the Library Committee the following were added to the exchange list:—Massey Agricultural College; Department of Scientific and Industrial Research, London: Museo Nacional. Rio de Janeiro; Academy of Sciences, Allahabad; and Academy of Sciences, U.S.S.R.
Partial Sets: Partial sets of the Transactions were presented to Mr H. Hill, who had lost several copies in the Napier earthquake, and to the Research Ship Discovery II.
Library: The Library Committee recommended that £25 be expended on binding some of the more important publications in the Library. The binding was very satisfactorily done by a local firm, the N.Z. Home Libraries Bindery. An additional bookstack was also erected at a cost of £3 3s, and this has slightly relieved the congestion in the Library.
The Library is being used very freely by the staff and Honours students of the College, and many volumes have been posted to research workers residing out of Wellington.
Incorporated Societies: The following reports and balance sheets have been received:—
Wellington Philosophical Society for the year ending 30th September, 1932.
Philosophical Institute of Canterbury for the year ending 31st October. 1932.
Otago Institute for the year ending 31st October, 1932.
Nelson Institute for the year ending 30th September, 1932.
Auckland Institute for the year ending 31st March, 1933.
Hawke's Bay Philosophical Institute for the year ending 31st December. 1932.
Fellowship New Zealand Institute: Nine nominations for the Fellowship were received from the incorporated societies. These nominations were submitted for selection to the Fellows, and the voting papers have been considered by the Selection Committee, and its recommendation will come before the annual meeting.
Carter Bequest: Negotiations between the City Council and the Institute were during the year reopened at the former's request. Professor Kirk, convener of the Institute's Carter Bequest Committee, in a letter to the President of the Institute states:—
“You will remember that at the annual meeting in 1931 the committee set up to meet the City Council's Observatory Committee reported that the terms agreed upon by the Joint Committee for acquiring the City Telescope as a Carter Telescope and for building an observatory in which to house it had not been accepted by the City Council, and that it was concluded that negotiations were at an end.
“Later the City Council asked that negotiations might be reopened. The Standing Committee of the Institute thereupon set up again a committee of which I have the honour to be convener, and negotiations were renewed. The result has been that terms in keeping with those formerly agreed upon were formulated by the Joint Committee, and have now been endorsed by the City Council.
“The terms are as follows:—
“1. That the New Zealand Institute as Trustees of the Carter Bequest be granted a lease in perpetuity at a rental of Is per annum (if demanded) of a one-quarter acre section in the Botanical Gardens, Kelburn, for the purpose of erecting there an observatory at a cost of approximately £3000 (Three Thousand Pounds).
“2. That the New Zealand Institute shall, when it has secured the necessary sanction by Act of Parliament, procéed with the building, and shall purchase from the City Council its telescope at a price not exceeding £500 (Five Hundred Pounds).
“3. That the governing body be the Carter Observatory Committee, which shall consist of five members, three being representatives of the New Zealand Institute as Carter Trustees, one being a representative of the Wellington City Council as providing the site, and one being a representative of the New Zealand Astronomical Society as providing the staff and upkeep.
“4. That the telescope be available for the use of the public for at least one night a week at a small charge to be fixed by the Carter Observatory Committee from time to time.
“Your committee recommends that the terms as set forth above be agreed to, that an empowering Act be sought at the forthcoming session of Parliament, and that a committee be set up to propose for sanction by the Standing Committee all necessary arrangements for carrying out the undertaking.”
Hector Award: On the 2nd September, 1932, Dr Peter Buck wrote from New Haven, Connecticut, thanking the New Zealand Institute for the Hector Medal and prize, and stating: “I am greatly flattered at the honour which the New Zealand Institute has conferred upon me. When I saw the monument to Sir James Hector in the Kicking Horse Pass on my way through Canada I felt proud to think that I had shared in the monument that New Zealand had created to the memory of that great man.” The medal was publicly presented to Dr Buck at a function at Yale University.
Hutton Award: On the 5th July, 1932, Dr P. Marshall, convener of the Hutton Award Committee, wrote: “I beg to inform you that the Hutton Award Committee has decided to recommend that the medal this year be awarded to Professor J. A. Bartrum, of Auckland, for research work in geology.” The recommendation of the Award Committee was adopted at a meeting of the Standing Committee held on the 3rd August, 1932.
The medal was presented to Professor Bartrum at a meeting of the Auckland Institute held on the 5th September. Professor Segar, President of the New Zealand Institute, in making the presentation, referred to the researches in geology which had worthily earned the award to Professor Bartrum.
Hutton Grants: Three applications for grants from the Hutton Fund referred by the last annual meeting to the Standing Committee were considered at a meeting of the committee held on 15th June.
Mr L. C. King was granted £20 to enable him to conduct a field study of the tertiary rocks of the Awatere Valley, Marlborough.
Dr O. H. Frankel was granted £25 for the continuation of cytological research.
The Waitemata Harbour Survey Committee was granted £25 for the continuation of an ecological survey of the Waitemata Harbour.
The reports from these grantees are attached to the Research Grants report.
Two applications have been received this year for grants from the Hutton Fund, and in accordance with a resolution passed at last annual meeting have been considered by the Standing Committee. An application from Mr G. M. Thomson for a grant to enable him to purchase some literature and to pay for necessary transcriptions in connection with the preparation of an illustrated catalogue of the Crustacea of New Zealand is recommended for approval by the annual meeting. An application from Mr K. M. Rudall, of Massey College, for a grant of £5 to cover the cost of photographic material is also recommended for approval.
T. K. Sidey Summer Time Fund: The Declaration of Trust of the T. K. Sidey Summer Time Fund approved by the Board of Governors and by Sir Thomas Sidey at the last annual meeting has now been engrossed and executed.
On the 24th August, 1932, Dr Marsden, convener of the Summer Time Award Committee, reported that his committee could not agree in making an award, and he suggested that a new committee be set up. The following committee was thereupon set up by the Standing Committee, and its report will be presented at the annual meeting:—Dr P. Marshall (convener), Dr C. C. Farr, Professor H. W. Segar, Professor W. B. Benham, and Dr P. Clennel Fenwick.
Title of the New Zealand Institute: On the 14th July, 1932, his Excellency the Governor-General wrote stating that his Majesty the King had been graciously pleased to approve of permission being granted to use the prefix “Royal” in the title of the Institute. At a meeting of the Standing Committee held on the 14th August some discussion arose as to the form of the new title, and it was considered that members of the Board should have an opportunity of expressing their opinion on the matter. At the next meeting of the Standing Committee the replies from individual members of the Board were read. A large majority was in favour of adopting the title “Royal Society of New Zealand,” and it was unanimously decided to make fresh application to his Excellency for permission to adopt that title. This has occasioned a good deal of delay, as it has been found necessary to again send to England for permission to use the amended title. When that permission is finally obtained an amendment of the Act will be necessary.
Australian and N.Z. Assoc. for the Adv. of Science: On the 10th May, 1932, a letter was received from the General Secretary of the A. and N.Z.A.A.S. in which he stated that the 1935 meeting of the Association will be held in Melbourne, and normally the Melbourne meeting is followed by a New Zealand meeting, and he asked whether New Zealand will wish to invite the Association to meet in New Zealand in 1937. It was ascertained that Auckland, whose turn it is for the next New Zealand meeting, would be prepared to organise the meeting provided Government assistance is assured. Subsequently the Right Hon. the Prime Minister promised that, “subject to financial conditions being in any way normal, the desired assistance will be forthcoming from the Government. It is understood that the total assistance involved in regard to printing, railway facilities, visits to places of scientific interest, and the printing of the report will be approximately £1000.”
Dr Marshall, who attended the 1932 meeting, was therefore authorised to convey the invitation to the Association to meet in New Zealand in 1937.
At a meeting of the Standing Committee, held on the 15th June, Dr P. Marshall and Dr Raymond Firth were appointed to represent the New Zealand Institute at the 1932 meeting of the Association. Dr Marshall's report is attached.
Pacific Science Congress: Intimation was received that the Pacific Science Congress, postponed from 1932, is to be held in June, 1933, at Victoria and Vancouver. It is regretted that New Zealand will not be represented at the Congress.
Several papers have been forwarded for presentation at the Congress.
National Research Council: At a meeting of the Standing Committee held on the 3rd August the following were appointed to form the nucleus of the National Research Council:—Dr C. Coleridge Farr (convener), Professor Easterfield, Professor Kirk, Dr P. Marshall, and Mr F. W. Furkert. The convener. Dr Farr, will report to the annual meeting.
Apia Observatory: On the 29th November it was reported that Apia Observatory had been maintained by grants from the Carnegie and Rockefeller Foundations and a small grant from the New Zealand Government. The former grants were now exhausted, and there was danger of the Government grant being curtailed. The following resolution was forwarded to the Government:—“That this Institute desires to place on record its most lively appreciation of the value to world science and to New Zealand in particular of the researches in the domain of geo-physics carried out since its inception by the Apia Observatory, and its keen anxiety that the work of this important station should be continued permanently unimpaired in all its branches.”
On the 10th March, 1933, a representative deputation waited on the Right Hon. the Prime Minister to ask for a continuation of the grant to the Apia Observatory, and were sympathetically received.
On the 24th March it was reported that the Rockefeller Foundation had consented to contribute 2500 dollars to the Apia Observatory.
Entomological Society of London: An invitation to the centenary meeting of the Entomological Society of London, to be held in May, 1933, was received. It was decided to ask Dr J. G. Myers and Mr E. Meyrick to represent the Institute.
International Geological Congress: An invitation to the International Geological Congress, to be held in July in Washington, was also received. It was decided to ask Dr J. M. Bell, at one time Director of the New Zealand Geological Survey, to represent the Institute.
Waipoua State Forest: On the 18th June the Institute of Horticulture wrote seeking the co-operation of the New Zealand Institute in endeavouring to secure the retention, intact, of the existing kauri areas in the Waipoua forest. A letter was forwarded to the Hon. Minister in charge of State Forests. The letter drew attention to the representations made in 1928 asking that the kauri forest be preserved for all time, and that no trees should be removed from the area except under the authority of and by the officers of the Forestry Department, and stated that on further consideration the New Zealand Institute now urges with regard to the block of 9000 acres containing the bulk of the remaining large kauri trees, that no removal of dead or mature trees be permitted, no regeneration experiments carried out, and above all, that no bleeding experiments or other utilisation experiments of any kind be allowed. In fact, that effective steps be taken at once to ensure that this special area shall remain permanently untouched.
The letter stressed the necessity for such measures being taken, pointing out the very great loss to the State in the last of the kauri being endangered.
The Hon. Minister replied on the 4th November that the representations of the Institute would receive careful consideration.
Arthur Pass National Park Board: The Lands Department advised that the appointment of the Arthur Pass Park Board was under consideration, and that provision could be made for representation of the New Zealand Institute. It was decided to recommend for appointment Professor R. Speight and Professor A. Wall to represent the Institute, and subsequently they were gazetted members of the Board.
Dominion Museum: At a meeting of the Standing Committee held on the 29th November some discussion took place on the scope of the Dominion Museum. Mr Aston pointed out that at present it was a Natural History and Ethnological Museum, and suggested that exhibits of agriculture and industry would widen interest in it. Mr Oliver, Director of the Dominion Museum, replied that at the present time no provision could be made in space for such exhibits, but that extension in that direction would be a desirable thing. Mr Oliver further stated that maintenance grants for the new museum would need to be considerably increased, and he made a suggestion as to how this could be effected. It was resolved that Mr Oliver and the Institute's representatives bring the matter before the Board of Trustees.
Portrait of Lord Rutherford of Nelson: A suggestion emanating from his Excellency the Governor-General that a copy of a picture of Lord Rutherford recently painted by Birley and presented to the Royal Society by the Fellows of that society be obtained for Wellington was considered, and subsequently it was decided to write to the Board of Trustees of the National Art Gallery and Dominion Museum suggesting that a certain gentleman be authorised to collect subscriptions to purchase this picture, which would be hung in the National Art Gallery, and asking for the Board's support in the matter. The Board of Trustees replied that whilst entirely sympathising with the object in view, it was considered that the time was not an opportune one for the raising of money, and suggested that the matter be deferred for reconsideration twelve months hence.
International Catalogue of Scientific Literature: The incorporated societies having expressed their willingness to assist in the compilation of classified references, the Smithsonian Institution was informed that the New Zealand Institute would co-operate in supplying material for the International Catalogue in the event of its being revived.
Natural Science in Schools: The report submitted to the last annual meeting by Mr G. M. Thomson and Prefessor Kirk was forwarded to the Hon. Minister of Education, to the Registrar of the University of New Zealand, and to the Director of Education. The Director referred the report to the secondary and technical school inspectors, and a discussion on this subject took place at the concluding session of the conference of primary, secondary, technical, and Native school teachers held in September, 1932, when it was decided that every effort should be made to increse the efficiency of the teaching of this subject.
Spectrohelioscope: At the last annual meeting a committee was set up to look into the matter of an offer of a spectrohelioscope which Dr Adams reported to that meeting had been made to New Zealand. Dr Kidson as convener of that committee reports that at a meeting of the committee a scheme for housing the spectrohelioscope was devised. Dr Adams secured from the Astronomical Section of the Wellington Philosophical Society a promise of sufficient funds to erect the proposed shelter. A cable was, therefore, sent to Dr Hale saying that use would gladly be made of the spectrohelioscope if provided. Although one had previously been offered, Dr Hale stated in his reply that unfortunately none was then available. It is probable that further efforts will be made either to obtain or to make an instrument for Wellington.
Mr G. V. Hudson's Book: On the 20th March, 1933, Mr G. V. Hudson wrote applying for financial assistance in the publication of an introductory book on “New Zealand Beetles and Their Larvae.” This book is to contain 17 coloured plates. Mr Hudson asked that the New Zealand Institute purchase 100 copies at a cost of £100 and recoup itself by the sale of them as occasion offered. In view of the work that Mr Hudson has done and of his reputation as an author, it was decided with the approval of the Finance Committee to purchase 100 copies at £100, the selling price per copy to be determined later.
Walter Burfitt Prize: The secretary of the Royal Society of New South Wales wrote intimating that the Walter Burfitt Prize had been awarded to Dr Charles Kellaway for his contribution, “Snake Venoms and Their Effect on Human Beings.” The Institute wrote congratulating Dr Kellaway.
The foregoing report of the Standing Committee was then taken clause by clause. On the motion of Mr Aston it was resolved that the report of the Carter Observatory Committee be deleted from the report. He stated that the report had not been considered by the Standing Committee, and that it would come up later on in the Agenda.
With this amendment the report was adopted.
Arising out of the Report—
Subscribers to the Transactions: On the motion of Mr Eliott, seconded by Mr Pycroft, it was resolved to accept at 30s per volume annual subscribers to the Transactions resident in New Zealand but non-members of an incorporated society.
Honorary Member: An election for one honorary member was held, and resulted in the election of Sir Guy Marshall.
Vacancies in Honorary Members' List: The following vacancies in the list of honorary members were declared:—Professor J. W. Gregory, Sir Ronald Ross, Sir John A. Thomson, and Professor Johannes Schmidt.
Hector Award: The President read the report of the Hector Award Committee as follows:—“The committee recommends that the Hector Award for this year be made to Dr W. N. Benson, Dunedin, and Dr J. Marwick, Wellington. That a medal be issued to each recipient, and that the prize be divided equally.—(Signed) R. Speight, Convener.”
The report was unanimously adopted.
Amount of Hector Prize: On the motion of Mr Eliott it was resolved that the amount of the Hector Award be £40 each recipient.
T. K. Sidey Summer Time Award: The President then read the report of the convener of the T. K. Sidey Summer Time Award Committee, which was as follows:—“I beg to report as follows in regard to the proposed award of the Sidey Medal. Four of the five members of the committee are in favour of recommending that the medal be awarded to Mr G. V. Hudson. The fifth member of the committee thinks that Mr Hudson's work on summer time does not come within the scope of the Trust Deed.—(Signed) P. Marshall, Convener.”
The meeting went into committee.
After some discussion the President moved the adoption of the committee's report.
On its being put to the meeting the following voted:—For the motion: Professor Segar, Mr Aston, Dr Marshall, Mr Hudson, Mr Oliver, Professor Park, Mr Eliott. Against the motion: Dr Farr, Dr Kidson, Mr Pycroft, Dr Marsden, Professor Kirk, Professor Speight, Professor Easterfield.
The casting vote of the Chairman was given in favour of the motion. Dr Marsden's amendment therefore lapsed.
Professor Segar congratulated Mr Hudson on the award.
The meeting was resumed in open Board.
Carter Bequest: The President read the report presented by the Carter Observatory Committee. Mr Aston moved that the report be referred to the Standing Committee for consideration and report to next annual meeting. He stated that the report had not been before the Standing Committee. Professor Kirk, convener of the Carter Observatory Committee, replied that he did not consider that the matter should be delayed in that manner. Although the written report of the committee had not actually been before the Standing Committee, the contents had been known to members of the Standing Committee, and the terms were practically those which had been agreed to by the Board at the annual meeting in 1927. Dr Kidson supported Professor Kirk, stating that the procedure proposed by Mr Aston would delay any action for eighteen months. It was asked whether there was any special reason for deferring action. Mr Aston replied that he had received information that the price of telescopes had been greatly reduced, and he considered that further time was necessary to obtain additional information regarding prices. He stated that he was of the opinion that the Carter Observatory
Committee had agreed that there should be a six months' option. Professor Kirk said that he had no recollection of any such agreement having been suggested.
Mr Hudson stated that since attending the Carter Observatory Committee meetings he had learned that prices of telescopes had come down, and he did not want the Institute to make a bad bargain. Dr Kidson said that there was no evidence that the bargain would be a bad one. Dr Marsden considered that the project should be proceeded with along the lines of the report. Professor Easterfield stated that while something more in keeping with the testator's wishes had been hoped for, it seemed the attainment was so remote that the Board would be wise to agree to the next best thing along the lines of the committee's recommendation. Professor Segar urged delay so that in time an observatory of which New Zealand could feel proud could be erected. Professor Kirk pointed out that negotiations had been reopened with the City Council in all good faith and with the consent of the Standing Committee, and he hoped that if the Board did not wish to proceed along the lines of the recommendations of the committee, it would pass a resolution to that effect and not allow the matter to be merely delayed. Dr Marshall raised the question of the suitability of the suggested site.
It was finally decided to refer the report to the Standing Committee.
At a later stage the following motion, moved by Professor Kirk and seconded by Mr Hudson, was carried:—“That the Institute instruct the Standing Committee as to whether it wishes any further steps to be taken in negotiation with the Wellington City Council or oherwise in the direction of setting up a Carter Observatory.”
Consequent upon the motion, it was further resolved on the motion of Professor Kirk, seconded by Dr Marsden:—“That the Institute authorises the Standing Committee to continue negotiations if they think it desirable with the Wellington City Council for purchase of the city telescope or some other, and to take such steps as it may think desirable to establish a Carter Observatory on lines such as those indicated in the report submitted to the Institute.”
Still further, on the motion of Dr Marsden, seconded by Dr Farr, it was resolved:—“That in the matter of the proposed Carter Observatory the Standing Committee be empowered to take all necessary action to give effect to its resolutions following negotiations with the City Council, etc.”
Honorary Treasurer's Report.
The balance sheet for the twelve months ending 31st March, 1933, shows a balance of assets over liabilities of £1067 11s 11d, as compared with £799 15s 3d on the 31st March, 1932.
The Income Account discloses that the statutory grant was £500, a reduction of £250 from the previous year. Levy and sales produced only £57 5s, as compared with £251 19s 2d, but on the other hand an unexpected although welcome addition to revenue was a grant from the Carnegie Corporation of
New York of one thousand dollars, which, together with a favourable rate of exchange, produced £289 0s 2d.
Turning to the expenditure side, owing to the reductions in the statutory grant, drastic cuts had to be made in cost of printing the Transactions. This has been reduced to £262 5s 4d during the past year, as compared with £1500 a few years ago. The printing of Part 2 of Volume 63 has been completed, the cost being £131 plus postage. The Finance Committee has authorised the expenditure of £240 on Parts 3 and 4. The Levy for Volume 63 has not yet been called up.
Notwithstanding the diminution in receipts, the rigid economy carried out by the Finance Committee has placed the finances of the Institute in a sounder position to-day than they have been for many years.
The various Trust Accounts administered by the Institute maintain their satisfactory condition. The Carter Bequest Capital Account now stands at £8946 12s 7d as compared with £8504 12s 7d twelve months ago, and the Endowment Fund is £948 4s 6d as against £748 2s. Shortly before the close of the financial year all the funds invested in New Zealand Government Inscribed Stock and Post Office Inscribed Stock were converted in accordance with the Government loans conversion scheme into 4% Inscribed Stock. In compliance with the New Zealand Loans Act, 1932, the total amount of the funds thus invested has been divided equally between the various maturity dates, 1940, 1946, 1949, and 1955. The amount converted stands in the balance sheet at £12,994 6s 2d. As a result of this conversion, revenue from interest will be reduced by approximately £153 per annum.
The books and accounts have as customarily been kept in an excellent way by the Secretary.
M. A. Eliott,