Calendar: 1864-1865 Page 49

annual report 49 vigorously carried forward during the last two years viz the re-construction of the College Chapel very large portion of this work is now completed and the building will it is hoped be re-opened for service in about two months What has been already done confirms the expectation expressed in previous reports that under the directing hand of Mr Scott King's College will now possess for the first time Chapel of which it need not be ashamed and which without aiming at any excess of decoration will yet be admirably fitted by its structure proportions beauty and convenience for the reli- gious services of the Institution It will be satisfactory to the Court to learn that contributions for the completion of the work have come in from all departments of the College and from pupils in the School and the Council confidently appeal to the Governors and Proprietors to help forward according to their means the good work which has been thus begun If those who are thus interested in the College and the large numbers of Students who have passed from its walls into the world were to contribute even the smallest sum towards the work in hand they would soon free from the burden of their liabilities those members of the Chapel Committee who have made themselves responsible for the cost of the present contract The Council regret that they cannot this year report quite so favourably of the finances of the Institution as they could wish The receipts have been generally little lower than usual The credit balance is however sufficient when added to the profit of the two preceding years to make an average annual sinking fund of 500 towards the liquidation of the liabilities of the College It will be source of satisfaction to the Court to learn that heavy as these liabilities still are they have been reduced in the last eleven years from December 31st 1852 when they stood at their highest by the sum of 719 8s 5d It is the earnest desire of the Council steadily to reduce the debt still hanging over them but the claims on them are so pressing for enlargement of expenses generally and especially for increase of salaries-claims unurged by the individuals themselves but all the more recognised by the