regularly it is important that the income from these two sources be preserved.

Sundry creditors for printing charges need to be explained. They cover the printing charges for the 1973 and 1974 journals together with two symposium brochures.

Looking to the future I am grateful to those who have responded to the call to pay an additional $20 by way of increased subscription, agreed upon 2 years ago. Several of you have decided to become Life Members. Looking further ahead, however, there is no doubt that expenditure will increase because the Society has now undertaken to pay for secretarial assistance, and also there will be certain financial obligations towards the Hong Kong Arts Centre. Looking further ahead the Society hopes to rent premises in the Hong Kong Arts Centre but this will depend on the financial conditions. This, to my mind, will benefit the Society enormously and one cannot rule out the possibility of further subscription increases or alternatively an appeal to all current annual and life members for the initial capital outlay.

24th March, 1975

D. A. Gilkes

Hon. Treasurer

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