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  Item Reference: KCLCAL-1867-1868-51

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ANNUAL REPORT 51 called away to his rest he has left behind him memory which will long be cherished His Grace the Visitor has appointed the Right Hon Earl Powis to succeed Lord Feversham and names will presently be submitted to the Court for filling up the several vacancies in the Council During the past year The Rev Major for 36 years Head-Master of the School The Rev John Fearnley for 34 years one of the Masters in the School Dr Francis Nottidge Macnamara twice Scholar in the Medical Department and now Professor of Chemistry in the Calcutta Medical College have been elected Honorary Fellows New rules have lately been adopted strictly limiting this diploma to former students who have conferred honour on the College by their subsequent distinctions the number never to exceed 60 at any one time and to those who have materially benefited the Institution by their services The Council have also under certain re- strictions opened the Associateship to former Pupils of the School The Finances of the College exhibit considerable improve- ment over those of 1865 when the necessary surplus of £500 was only obtained by means of munificent donation of £260 made for this purpose The Accounts of 1866 show without any such assistance surplus of £501 10 Avery careful consideration of the financial position of the College and of the reduction of expenditure which they have long been endeavouring to make and which the invest gations referred to at the last Meeting have assisted to bring about has lately terminated in resolution to increase the salaries of the Masters of the School This step was urgently required and has been but too long delayed The Council are sanguine in believing that tbe necessary annual surplus of £500 will be still maintained
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