The Honorary Treasurer has submitted a statement of accounts which appears eminently satisfactory. It shows an excess of income over expenditure of $1,708.18. I wish, however, to stress the point that the income from the annual membership fees is $4,779.55 from 240 members but the expenses of the Society amount to $6,605.15. The deficit is made good partly by the receipts from the sale of journals but mainly by the income from capital investments derived from the gift of $10,000 made by a generous and anonymous donor in memory of the late Arthur de Carl Sowerby on the re-establishment of the Society. It is the Council's aim to reserve the income from investments, to build up a fund for a library and for the permanent interests of the Society, and to increase the income from annual subscriptions to meet our annual expenses. For the present annual subscription of $20 members receive all the benefit of the lectures during the year and a free copy of the Journal, which together cost the Society nearly 40 per cent over the amount of their subscriptions. In order to enable the Society to work on a steady basis we need an addition of another 100 members. At the end of 1962 we had on our books 33 life members and 247 ordinary members including 8 overseas members. There has been a gratifying and steady increase each year, but each year many resign on their departure from the Colony, while too many go away on leave and forget to pay their subscriptions. The Treasurer and the Secretary are both busy people who have neither the time nor the staff to collect past dues, and it would greatly lessen their burden if members would make their subscriptions payable by Banker's Orders or become life members.
The present membership of somewhat over 240 members represents a permanent nucleus of those who are interested in our cultural heritage in the Colony; but as H.E. Sir Robert Black, our patron, said two years ago: "There are many times this number who are interested both in the cultural life and history of this part of the world, which has great riches to offer to anybody interested in research, or in studying and inquiring about the inheritance which we all enjoy who live here." Hong Kong provides the greatest opportunity in the world today for a meeting of minds between East and West. East may remain East and West, West, but here, more than anywhere else, if the world is to be one, they must meet.
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The Honorary Treasurer has submitted a statement of accounts which appears eminently satisfactory. It shows an excess of income over expenditure of $1,708.18. I wish, however, to stress the point that the income from the annual membership fees is $4,779.55 from 240 members but the expenses of the Society amount to $6,605.15. The deficit is made good partly by the receipts from the sale of journals but mainly by the income from capital investments derived from the gift of $10,000 made by a generous and anonymous donor in memory of the late Arthur de Carl Sowerby on the re-establishment of the Society. It is the Council's aim to reserve the income from investments, to build up a fund for a library and for the permanent interests of the Society, and to increase the income from annual subscriptions to meet our annual expenses. For the present annual subscription of $20 members receive all the benefit of the lectures during the year and a free copy of the Journal, which together cost the Society nearly 40 per cent over the amount of their subscriptions. In order to enable the Society to work on steady basis we need an addition of another 100 members. At the end of 1962 we had on our books 33 life members and 247 ordinary members including 8 overseas members. There has been a gratifying and steady increase each year, but each year many resign on their departure from the Colony, while too many go away on leave and forget to pay their subscriptions. The Treasurer and the Secretary are both busy people who have neither the time nor the staff to collect past dues, and it would greatly lessen their burden if members would make their subscriptions payable by Banker's Orders or become life members.
The present membership of somewhat over 240 members represents a permanent nucleus of those who are interested in our cultural heritage in the Colony; but as H.E. Sir Robert Black, our patron, said two years ago: "There are many times this number who are interested both in the cultural life and history of this part of the world, which has great riches to offer to anybody interested in research, or in studying and inquiring about the inheritance which we all enjoy who live here." Hong Kong provides the greatest opportunity in the world today for a meeting of minds between East and West. East may remain East and West, West, but here, more than anywhere else, if the world is to be one, they must meet.
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