Annual Report and Accounts (1967)

COUNCIL The following served on Council during the year under review: Office bearers: Prof D. D. Howat (President), Dr J. P. Hugo and P. W. J. van Rensburg (Vice-Presidents), V. C. Robinson (Immediate Past President) and D. G. Maxwell (Honorary Treasurer). Ordinary Members of Council: H. P. Carlisle, R. C. Espley-Jones, G. H. Grange, Dr D. I. Legge, W. W. Malan, Prof R. P. Plewman, Dr R. E. Robinson, Dr M. D. G. Salamon, L. W. P. van den Bosch and P. A. von Wielligh. Branch Chairmen: A. Bain (Witbank-Middelburg Branch), J. M. Meyer (O.F.S. Branch). Past Presidents serving on Council: R. J. Adamson, M. Barcza, H. Britten, H. E. Cross, J. K. E. Douglas, R. C. J. Goode, P. Lambooy, Prof J. de V. Lambrechts, Dr J. T. McIntyre, J. F. Reid and H. Simon (until March 1972). Ten Council meetings were held during the year with an average attendance of nineteen, and the standing committees held 27 meetings. FINANCE The annual accounts which are attached to this report show an excess of income over expenditure of R21 519. It is very gratifying to be able to report that Council's efforts to stop the depletion of our accumulated funds are meeting with success. The most important contributors to our surplus this year are symposia and colloquia, sales of publications, Company Affiliate subscriptions and the profit on the journal. While we do not expect continued profits from all these sources in the future we do feel that we are now in the process of accumulating a substantial financial foundation. This will give the Council the necessary confidence to initiate the new developments in the activities of the Institute which are now under consideration. The decision to create a new grade of membership, Company Affiliate, is dealt with elsewhere in this report. There has been a generous initial response from companies and this is the cornerstone of our improved financial expectations. The MacArthur Forrest Memorial Fund shows an excess of income over expenditure of R91 and the total fund was, therefore, increased by this amount to R4 502. The balance sheet shows that the market value of quoted shares and debentures increased during the year from R9 160 to RH 331, which is R2 134 in excess of the book value. Accumulated funds now amount to RH 529 compared with R23 010 a year ago. MEMBERSHIP Sixteen Fellows, twenty Members, six Graduates, nine Associates, twelve Students and twenty-four Company Affiliates were elected during the year. One Member and two Associates were reinstated. Twelve members were admitted to retired membership. Transfers: Member to Fellow, three. Graduate to Member, seven Associate to Fellow, one. Student to Member, one. Student to Graduate, four. Student to Fellow, one. Your Council records with deep regret the death during the year of the following: Dr A. J. Orenstein (Honorary Life Fellow), R. A. Cooper, R. J. Spargo, H. Simon and F. Meyer (Life Fellows), S. D. Loxton, W. P. Arnold, G. C. Needham, W. G. Pyne-Mercier, J. Innes and O. T. Wright (Fellows), E. P. Mennell and O. B. Prentis (Members), J. Brits (Associate). After careful consideration of all the implications it was decided during the year to create a new grade of membership to be known as Company Affiliate, in order that there might be a formal and permanent channel for companies to contribute to the important work of the Institute. As recorded above, 24 companies had joined by the end of the year and many further applications have been received since. We extend a hearty welcome to all our new members. A comparative statement of membership as at 30th June, 1972, and the end of the previous year is shown in the following tabulation:-