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the year was the sum of £ 50 towards the excavations at Haverford- west Priory, voted at the Oswestry Meeting in 1923. I would suggest that when the Committee come to deal with the splendid balance now in hand ( £ 224 10s. 8d.), they reserve £ 74 10s. 8d. for future contingencies. A sum of £ 10 of the balance is specially earmarked for the proposed new Index. Would it not be well to supplement this small sum by a special contribution of £ 100, for the purpose of promoting this commendable object and appealing to the generosity of the Members to subscribe liberally to that end ? It may be felt, now that there is a balance in hand of £ 119 3s. 7d. in the Publications Fund, let us say, £ 110 for immediate use, the time has come for active preparations to be made for the publication of the Menevia Sacra," especially as the Committee may see their way to recommend that a further sum of £ 40 be devoted from the balance of £ 224 odd towards hastening that intention. The balance in hand of the Excavation Fund is £ 106 5s. lid., and having regard to the recommendation of the Excavations Committee, which was adopted at Auray last year, the Committee may deem it a pleasure to pay over, at once, two out of the three equal instalments of the grant of £ 100 then made towards the Gaer excavations, near Brecon, namely, £ 66 13s. 4d., the instalments for last year (1924) and this (1925), leaving the third instalment ( £ 33 6s. 8d.) for future payment. [The Statement of Accounts was published in the June number.] Mr. Morris added that the sum of £ 10 earmarked for the new Index (being the last item in the Income" column of the General Account, had been contributed by Major Breese and Mr. Richard LI. Lloyd, of Pentypark, Pembrokeshire, who had each subscribed £ 5. The Committee had considered his suggestion that £ 100 be subscribed out of the Funds for the purpose of the new Index, but the matter had been deferred for the time being. He hoped that, in the meantime, members specially interested in the publica- tion of a complete and satisfactory Index would come forward with special donations for this very necessary purpose. The publication of the Menevia Sacra was also overdue. General Sandbach moved, and Mr. Ivor Pryce seconded the adoption of the report, which was carried unanimously. On the motion of Mr. Lleufer Thomas, it was resolved, That the Editorial Committee be requested to consider the publication of Menevia Sacra,' and to proceed with the work if it seem desirable, and that a sum of £ 100 be placed at their disposal for this purpose." The Editor's Report was read by Canon Fisher, as follows:- There is not much to report, in so far as the Editor's work is concerned, since our last Annual Meeting. The work has gone on quite smoothly. There has been no dearth of good copy," as may be gathered from the contents of the two last parts. The variety