JANUARY 1955 THE CHRISTMAS DINNER AND FESTIVAL ...

September 1 9 5 5THE ANNUAL MEETINGOfficers for 1955-1956The results of the Annual Meeting held on May 14th, 1955, were purposelyomitted from the May Monthly Letter in order to have the list of officers, etc.,presented freshly at the beginning of the Fall season.After dinner the meeting was called to order by the Vice-President, CleeveHome, who had acted as President since the death of Alec Panton. The usual reportswere called for from the chairmen of committees and were adopted.It was gratifying to note that the financial report of the House Committeeunder the chairmanship of Irving Forster showed a considerable improvement on theprevious year, and the report of the Treasurer showed the Club to be in excellentfinancial condition.In presenting his report, Treasurer Wardropper said there had been an excessof expenditure over revenue on current account for the past financial year of$4012, but that there had been a notable improvement in the proceeds from the cateringand refreshment sections, due to a combination of increased charges and improvedefficiency in administration. We were faced, he said, with ever-increasing expensesin replacements, renewals and repairs; and to pay for improvements and increasedfacilities it had been found necessary to increase the annual fees, though this wouldnot come into effect until the next financial year. He presented a rosier picture inthe capital account of the Club. Apart from the receipts from entrance fees, interestand dividends, and profits on the sale of investments, which are placed to the Surplusaccount, there was a special windfall this year in the shape of a substantial bequestfrom the estate of Mabel H. Shaw.He paid tribute to the outstanding contributions made to the present financialstanding of the Club by R. L. Defries, the late George Pepall and GeorgeMcMurtrie, the only previous treasurers the Club has had since its inception. Theircareful husbanding of the Club's resources, farsighted investment policy and devotionto their particular function throughout the years, had resulted in bringing us to ourpresent fortunate position.The Treasurer again recalled our indebtedness to the work of our honoraryauditors, H. T. Jamieson, LeMay & Company, who have served the Club so well for somany years.