Calendar: 1885-1886 Page 26

22 king's college london act 1882 classes for occasional students and considerably more than thousand students of all kinds are now educated at the College And whereas bye-laws were duly made under the Charter by which it was among other things provided that if after payment of all the annual expenses and outgoings of the College any surplus remained dividend not exceeding Four per centum per annum on the shares and donations then existing might be declared out of such surplus at the Annual Court unless such Court should decide otherwise but that such dividends should be payable only to Proprietors and the dividends on donations should be applicable to the general purposes of the College And whereas there has never been any such surplus but on the contrary the College has always been in debt for money borrowed for its buildings from time to time and no dividend has ever been declared and the College has never been carried on with view to profit to the Proprietors and the right to any dividend is purely nominal and during the last Seven years the number of shares transferred by sale has been none except such as have been purchased at nominal price in order to qualify for seat on the Council and out of total of Three hundred and fifty-one registered proprietors only Ninety-five are still living and have their residences known and the number of Proprietors and Donors who attend the Annual Courts is very small and such Courts often have to be adjourned for want of the quorum prescribed by the Charter And whereas the Council began in the year One thousand eight hundred and forty-seven to elect Honorary Fellows consisting of former professors and other officers of the College and of students who have been distinguished at the Universities or in public life but such Fellows are not as such members of the Corporation and it is expedient that they should be And whereas it is expedient that the objects of the College should be extended to provide education for women and girls as well as men and boys and that any doubt whether they may provide education elsewhere than in the premises afore-