Calendar: 1964-1965 Page 413

xiv Annual Report During the present year the total income amounted to £14 397 compared with £13 425 in 1961-62 Expenditure for the current year was £15 471 compared with last year's figure of £16 161 Wages have increased as has the cost of heat and light The result of the year's working was deficit of £1 074 compared with deficit of £2 736 last year The net accumulated surplus carried forward at July 31st 1963 was £727 GENERAL The Council decided that the time has come to make public announcement of its intention to endow professorship of Moral and Social Theology They propose to call it the Frederick Denison Maurice Professorship as tribute to this former member of the College whose writings have become increasingly influential with the years as well as an indication of the area of concern for which the professorship is being established The fund at present stands at £37 229 and further £16 000 has been promised An additional £47 000 is needed and the Council hopes that the announcement of its intention will encourage donors to make the further gifts needed to complete the endowment