We have compared the receipts with the official list of members and find complete agreement. We have compared the disbursements with the vouchers for the same and find them to have been duly authorized and correctly recorded. We have examined the bank account and compared the checks accompanying the same. We have compared the balance in the hands of the Treasurer as shown by the ledger ($626.70) with the balance as shown by the bank book ($644.70) and found them consistent, the difference being explained by the fact that a check for $18 drawn in favor of the Secretary of the Cosmos Club has not yet been presented for payment. We find the condition of the accounts entirely satisfactory. Very respectfully, S. H. KAUFMANN. G. K. GILBERT. ANNUAL REPORT OF THE SECRETARIES. The first step toward the organization of the National Geographic Society was the circulation of the following invitation, on Jan. 10, 1888. "Dear Sir: You are invited to be present at a meeting to be held in the Assembly hall of the Cosmos Club, Friday evening, January 13, at 8 o'clock, for the purpose of considering the advisability of organizing a society for the increase and diffusion of geographical knowledge. Very respectfully yours, GARDINER G. HUBBARD, HENRY MITCHELL, A. W. GREELY, HENRY GANNETT, J. R. BARTLETT, A. H. THOMPSON, and others." In response to this invitation 33 gentlemen met at the appointed place and time. The meeting was called to order by Prof. A. H. Thompson, who stated its objects and nominated Capt. C. E. Dutton as chairman. The formation of a geographic society was discussed by Messrs. Hubbard, Bartlett, Thompson, Mitchell, Kennan, Gannett, Merriam and Gore. The following resolution, introduced by Prof. Thompson, was adopted: _Resolved_, 1. As the sense of this meeting that it is both advisable and practicable to organize at the present time a geographic society in Washington; 2. That this society should be organized on as broad and liberal a basis in regard to qualifications for membership as is consistent with its own well being and the dignity of the science it represents. 3. That a committee of nine be appointed by the chairman to prepare a draft of a constitution and plan of organization, to be presented at an adjourned meeting to be held in this hall on Friday evening, January 20, 1888. A committee was appointed by the chair, consisting of Messrs. Hubbard, Greely, Bartlett, Mitchell, Kennan, Thompson, Gore, Tittman and Merriam for formulating a plan of organization. A subsequent meeting was held on January 20, at which it was decided to incorporate the society, and the same committee was continued to carry out that purpose. On January 27 the society was incorporated, the following gentlemen signing the certificate of incorporation: