Honorary Treasurer's Report for Year Ending 31St December, 1923. The statement of assets over liabilities shows a very satisfactory position. The credit balance has increased from £233 1s. 5d. on the 31st December, 1922, to £869 15s. 3d. on the 31st December, 1923, the surplus from the year's working being £636 13s. 10d. With regard to the Government research grants, the total amount paid out to various applicants, less refunds, amounts to £285 6s. 10d.; and, as no further grants have been received from the Treasury, the fund has now been reduced to £971 5s. 8d. The various trust accounts are in a healthy state. The Carter Bequest Capital Account has grown from £5,155 1s. 10d. to £5,455 15s., the revenue for the year, earned from investments in Government bonds, amounting to £320 17s. 2d., which is equal to 6.2 per cent. on the amount standing to the credit of the Capital Account on the 31st December, 1922. This fund will continue to grow, as the interest is being reinvested in Government bonds as it accumulates. The investments of the Hector and Hutton Memorial Funds give a return of 5.82 per cent. The books and accounts have been well and accurately kept by the Assistant-Secretary. M. A. Eliott, Hon. Treasurer. New Zealand Institute.—Statement of Receipts and Expenditure for the Year Ending 31st December, 1923. Receipts. £ s. d. Balance as at 31st December, 1922 2,168 4 6 Petty cash as at 31st December, 1922 6 3 10 Statutory grant 1,000 0 0 Publications sold 131 17 11 Refunds by research grantees 41 7 10 Interest, Post Office Savings-bank 64 1 1 Interest on Endowment Fund invested in inscribed stock 5 0 0 Contributions to Publication Fund 2 10 6 Interest, Carter Legacy, £50 2 5 0 Interest on Carter Bequest 318 15 0 Interest on Hector Fund 68 10 0 Interest on Hutton Fund 58 10 0 Interest on Hamilton Fund 1 2 6 Refund from Carter Bequest, Post Office Savings-bank Account 155 5 6 Refund from Hutton Memorial Fund 9 0 0 £4,032 13 8 Expenditure. £ s. d. Government Printer 449 17 3 Petty cash (postages) 15 15 2 Salaries 258 6 8 Charges (bank commission, premiums) 4 13 4 Travelling-expenses 39 11 4 Adlard and Son (plates) 3 6 9 Library removal (cartage assistance) 22 4 9 Hector Prize for 1922 45 0 0 Carter interest reinvested 300 13 2 Hutton Fund research grant 40 0 0 Research grants, as per list 326 14 8 Endowment Fund invested 198 19 4 Hamilton Prize 4 0 0 Carter Fund—Interest to Account 180 5 8 Hutton Fund—Interest to Account 27 10 0 Balance as under 2,115 15 7 £4,032 13 8