U. S. Naval Institute. Annapolis, Md., Jan’y 7th, 1880.
I beg leave to submit the enclosed report of the receipts and expenditures of the Institute, from Jan’y 7,1879, to Jan’y 7, 1880; and in connection therewith, I would state that there are 378 names borne on the books of the Treasurer, 10 of which are over two years in arrears; and by the Constitution will be dropped from this date; thus leaving
368 paying members, at $ 3.00 $ 1,104
7 associate “ “ 1.00 7
giving a total income of $ 1,111
There is now in the printer’s bands work to the amount of (probably) nearly S'300.00. And there is the coming "Prixe Essay” and Medal to provide for, to the amount of $ 150.00; which will leave in hand only about $ 75.00 of the $ 525.70 shown in the tabulated report.