the Society’s books for over twenty-one years, having been elected in September 1897 on the retiral of Mr Allan Gray. The work of many others, who in one way and another helped while they could, has gone to build up the Society. They are gone, leaving often not even a name behind them, but the result of their labours is preserved as by a monument in the strong, virile Society of which we speak so familiarly as “The U.C.B.S.” STATISTICS. In general readers do not care much for statistics, but no record of the Society would be complete which did not give in some statistical form the growth which the Society has made during fifty years. The table given is not long, however, nor is it difficult to follow. It gives the position of the Society at the end of the first year, and at the end of each tenth year thereafter. In addition there are given the first balance-sheet issued by the Society and that issued for the 200th quarter. Readers can thus see for themselves the marvellous growth which we have tried, however inadequately, to picture. _Statistical Statement showing the development of the Federation during the Jubilee Period._ ──────────────────────────────┬──────────┬───────┬───────────── TEN-YEAR PERIODS. │ No. of │ │ │Federated │Shares │ Shares and │Societies.│ Held. │ Deposits. ──────────────────────────────┼──────────┼───────┼───────────── │ │ │ £ s. d. 1869 (Commencement of Society)│ 8│ │ 1869 (January 1870) │ 8│ │ 193 12 0 1878 (January 1879) │ 23│ 4,217│ 6,251 6 7 1888 (January 1889) │ 39│ 10,037│ 33,209 9 10 1898 (January 1899) │ 94│ 80,231│143,681 12 3 1908 (January 1909) │ 169│155,915│356,254 19 3 1918 (January 1919) │ 211│241,643│556,841 16 6 ──────────────────────────────┴──────────┴───────┴─────────────