| Description | Present at a Council
The President
Lord Charles Cavendish; Charles Stanhope Esq; Dr Mead; Mr John Ellicott; William Jones Esq; Robert Paul Esq; Dr Mortimer
Mr Stanhope was Sworn of the Council, after which the minutes of the last Council on Wednesday the 11th of this present November were read.
Mr Jones in the Name of the Auditors of the Treasurers Accounts, chosen on the part of the Council, reported that they together with the Auditors also chosen on the part of the body of the Society, had met together at the Presidents House in Queens Square, on Saturday the 21 of this Month, where the Said Accounts being read before them, and found to agree with their Several Vouchers, it appeared that the Receipts Since the last Audit on the 22nd of November 1746, to the present time, including the ballance then remaining in his hands of £71.3.8, amounted in all to the Sum of £860.7.8 and that the payments during the Same Time amounted in all to the Sum of £405.13.3, So that the ballance remaining in the hands of the Treasurer at the Time of the Auditors this last Account did ammount to the Sum of £454.14.5.
Which ballance was over and above the Sum of £500. secured by 5 bonds of the East India Company for £100 each, which were purchased for the Society Some Years Since.
The thanks of the Council were ordered to the Treasurer for his care in the management of this affair and to the Auditors for their trouble in the Auditing of these Accounts.
The President then acquainted the Council that the Gentlemen present at the Audit, had desired him to move at this meeting that £400 part of the money now remaining upon ballance of the last Account might be laid out, in the purchase of 4 more bonds of the East India Company, or upon Some other good Security bringing in Interest to the Society.
Whereupon a Gentleman present proposed, that as, at this time the Bank Annuities of the Year 1747, are cheaper than any other publick funds bringing in the Same Interest ; the Said money might be laid out in Such annuitys : which being taken into consideration and approved off, the board were further of Opinion that it was for the advantage of the Society,
That the £500 of their money now vested in East India, should also be changed into the Same Sort of Bank Annuitys. And it was accordingly Ordered,
That Mr Treasurer be desired to cause the five East India Bonds now in his hands, to be converted into money and that he be further desired with the money so arising and with so much as shall be necessary of what he has in Cash upon the ballance of the last account, to cause one Thousand pounds capital in the Joynt Stock of Bank Annuities of the year 1747 to be purchased at the market price, and to be transfered in the Books, to the Name of the President, Council and Fellows of the Royal Society of London, for improving Natural Knowledge.
And Mr Treasurer not being present at this Council, the President was desired to acquaint him with this Order, and to call another Counil for the Setting the Seal of the Society, to a proper Letter of Attorney for acepting the Same Annuitys, and for receiving the Dividends which Shall become due thereon, so soon as Such Letter of Attorney should be necessary. |