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3 lacs. The fixed assets of the Institute at present amounts in round figures to ⁠10+1/2⁠ lacs of rupees.

These results of the first year's existence of the Institute are the more encouraging in view of war conditions, and it is thus reasonable to hope that of the large initial cash endowment aimed at, as explained below, a substantial proportion of the balance still required, say 16 lacs, in addition to those already invested may be obtained in the coming year. The wide interest already expressed in different parts of India is here of favourable augury.

Government Grant.

The Board of Managers take this opportunity to make their acknowledgments for the liberal grant made by the Government of India and the Government of Bengal under the sanction of the Secretary of State, and also for the creation of six Scholarships for the Institute. The Secretary of State and the Governments of India and Bengal have further expressed their desire to extend their grants which will be influenced by the extent to which private donations are forthcoming.

The Board also offer their special thanks to His Excellency Lord Ronaldshay, Governor of Bengal, for his keen interest in the success of the Institute, and for making over to the Trustees a large plot of valuable land for the extension of the Institute.

Scholarships and Annual Subscriptions.

The Board also wish to express their thanks for the Nowroji Scholarship received through Mr. Kanga on behalf of the donor; also for the Urmila Devi Scholarship. They also wish to make their acknowledment to Mr. Jamnadas Dwarkadas for the first instalment of Rs. 15000 of his donation of Rs. 24,000, to be used for a Scholarship Fund or any other objects of the Institute. Rao Bahadur Jamnalal Bajaj of Wardah, besides his subscription of Rs. 5,000, has made a provision for the annual payment of the interest from a Fund of Rs. 20,000. The eminent firm of publishers, Messrs. Longmans, Green and Company, have made a provision for the annual payment of Rs. 250; such practical interest in the success of the Institute from outside India is matter of gratification.

Finally the Board records the help of the Municipal Corporation of Calcutta, who have generously resolved that the buildings and

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