This advertisement, which was repeated in the Academy catalogue of 1780, would seem at the first sight to suggest that the Academicians had failed to comprehend their exact position. Or had the King in his enthusiasm for their cause led them to believe that he intended to defray their expenses wholly from the privy purse without aid from the public? However this may be, it has long been understood that the amounts taken at the doors of the exhibition for admission, and the sales of catalogues, form the real support of the Academy. A gross income of at least L10,000 is thus produced, half of which amount, as clear profit, the Academy is enabled every year to add to its ever increasing store of wealth.[11] [11] Out of its accumulated riches the Academy has defrayed, the cost of its new Galleries in Burlington Gardens, first opened in 1869. Concerning the destinies of the rival institutions but brief mention must suffice. Their downfall dates from the rise of the Royal Academy. Still, they died lingering deaths. The Incorporated Society struggled gallantly though vainly against the superior advantages and the royal preference enjoyed by the Academy. In 1772, the Society built the large room, the Lyceum, in the Strand, at an outlay of L7500. But in a year or two the decrease in its revenues compelled it to part with the building at a sacrifice. In 1776, the Society held no exhibition. In 1777 and 1778 it exhibited at a room in Piccadilly, near Air Street. In 1779, it again did not exhibit. In 1780, it appeared once more at its old quarters in Spring Gardens. But its existence now was of a very intermittent kind. In 1781 and 1782 it made no sign. In 1783, and again in 1790, it held exhibitions at the Lyceum. In 1791, it made its farewell appearance in public at the rooms in Spring Gardens. In 1836, Mr. Robert Pollard, the last surviving member of the Society, being then 81, handed over its books, papers, letters, documents, and charter, to the Royal Academy. This was the formal surrender of the Incorporated Society; but in truth the struggle had been decided against it long and long before. The Free Society dragged on its existence, making feeble annual exhibitions until 1779 inclusive; but at that time it had long outlived public notice. In 1769, it had built a room next to Cumberland House, Pall Mall. But this, ill-fortune probably compelled it to surrender, as in 1775 its exhibition was held in St. Alban's Street. The provident, praiseworthy, modest aims of the Free Society ought to have saved it from ruin--ought to have excited public sympathy on its behalf. But this was not to be. The Royal Academy was left master of the field. In the success of the King's exhibition, the older institutions were forgotten and lost. WIDOW HOGARTH AND HER LODGER.