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Furthermore, it is calculated that we shall need an additional $2,500 to carry us through the fiscal year 1917-18, and the Council of the Institute at the St. Louis Meeting, December 30, 1916, authorized the executive officers to raise this amount by asking the present guarantors to renew their contributions for one more year, and by inviting other members of the Institute to enroll as guarantors. (See Bulletin, Vol. VII, Minutes.) ART AND ARCHAEOLOGY is growing steadily in excellence and popular favor and no class magazine in recent years has made greater progress in so short a time. What we have accomplished is owing chiefly to the enthusiastic interest and co-operation of our guarantors and of our steadily enlarging ART AND ARCHAEOLOGY circle. If the present rate of increase in the number of subscribing members continues and we should attain success as an advertising medium, we expect to be on a self-sustaining basis by the close of the next fiscal year. We write, therefore, to ask that you will kindly permit us to enroll you as a guarantor for one or both of the fiscal years during which we shall need further assistance, by signing and returning the card enclosed. With great respect, we are Very truly yours F.W. Shipley PRESIDENT Mitchell Carroll GENERAL SECRETARY ART AND ARCHAEOLOGY Statement of Receipts and Expenditures-July 1, 1914-June 30, 1915 ASSETS Guaranty Fund, 1914-paid ... $5,250.00 Institute Appropriation ... 750.00 Subscriptions to date: (Remitted to Treasurer) ... 2,250.00 $8,250.00 EXPENDITURES Vol. I, Nos. 1-6 ... $4,765.73 General Expenses ... 2,030.84 Total Expenditures ... $6,796.57 Balance on hand ... 1,453.43 $8,250.00 Statement of Receipts and Expenditures-July 1, 1915-June 30, 1916 ASSETS Balance on hand, July 1, 1915 ... $1,453.43 Guaranty Fund, 1915-paid ... $5,500.00 Institute Appropriation ... 750.00 Subscriptions to date: (Remitted to Treasurer) ... 3,800.00 $11,503.43 EXPENDITURES Vol. II, Nos. 1-3 ... $1,621.01 Vol. III, Nos. 1-6 ... 5,040.00 General Expenses ... 1,632.28 Records of The Past ... 500.00 Total Expenditures ... $8,793.29 Balance on hand ... 2,710.14 $11,503.43 Estimated Receipts and Expenditures-July 1, 1916-June 30, 1917 ASSETS Balance on hand, July 1, 1916 ... $2,710.14 Balance Guaranty Fund: (Being completed) ... 4.250.00 Subscriptions and Sales ... 5,000.00 Institute Appropriation ... 1,000.00 $12,960.14 Deficit ... 119.86 $13,080.00 EXPENDITURES Vol. IV, Nos. 1-6 ... $5,040.00 Vol. V, Nos. 1-6 ... 5,040.00 General Expenses ... 3,000.00 $13,080.00 $13,080.00 Estimated Receipts and Expenditures-July 1, 1917-June 30, 1918 ASSETS Balance on hand, July 1, 1917 ... ... Institute Appropriation: From Active Members ... $4,000.00 From Subscribing Members ... 7,500.00 Sale of back numbers ... 500.00 Guaranty Fund-To be raised ... 2,500.00 $14,500.00 EXPENDITURES Deficit ... $119.86 Vol. VI and VII, 12 nos. as per Contract ... 10,080.00 General Expenses (including commissions) ... 4,000.00 Balance, June 30, 1918 ... 300.14 $14,500.00 Circulation Statement-April 1, 1917 Membership, United States ... 2,744 Membership, Canada ... 262 Subscribers ... 2,287 Exchange and Free Lists 162 Reserved 545 Total ... 6,000
