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This item is filmed at the reduction ratio checked below/ Ce document est filmi au taux de reduction 'ndiquA ci-dessous. 10X 14X 18X 22X 26X 30X vy 12X 16X 20X a4x 28X 32X ails du tdifier une nage The copy filmed here has been reproduced thanks to the generosity of r Douglas Library Queen's University The images appearing here are the best quality possible considering the condition and legiblllty of the original copy and In keeping with the filming contract specifications. Original copies In printed paper covers are filmed beginning with the front cover and er ding on the last page with a printed or illustrated impres- sion, or the back cover when appropriate. All other original copies are filmed beginning on the first page with a printed or illustrated Impres- sion, and ending on the last page with a printed or Illustrated impression. The last recorded frame on each microfiche shall contain the symbol ^^ (meaning "CON- TINUED"), or the symbol V (meaning "END"), whichever applies. 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Tous les autre* exemplaires orlglnaux sont fiimij en commen^ant par la premlAre page qui comporte une emprelnte d'Impression ou d'iilustratlon et en terminant par la derniAre page qui comporte une telle emprelnte. Un des symboles suivants apparaltra sur la dernlAre Image de cheque microfiche, selon le cas: le symbols -^ signlfie "A SUIVRE", le symbols V signlfie "FIN". Les csrtes, planchss, tableaux, etc., peuvent Atre filmte A des taux de r6duction diffArents. Lorsque le document est trop grand pour Atre reproduit en un seul ciichA, 11 est film« « partir de I'angle supArieur gauche, de gauche A droite, et de haut en bes, en prenant le nombre d'images nAcessairs. Les diagrammes suivants iiiustrent le mAthode. ata ilure, 1 tx 1 2 3 1 2 3 4 5 6 A THI 260 ^-; 1882. AN N UAL REPORT AND FINANCIAL STATEMENTS, FROM THE MANAGERS OP THE TEMPORALITIES' BOARD, For the Year ended 3l8t December, 1881, For the information op the Beneficiaries. * 260 St. James Street, Montreal. JAMES CROIL, Secretary- Treasurer, P :f; f p V i? w ffi I I \l i .J ■' i ANNUAL UKPORT. To THE UkNKKICIAKIIS ()!•' IIIK 'I'kM I'OKAI.mKS HoAKI). As intiiiintcd in last report, the suit of " Dobic versus the 'I'cni|X)ralitiL's Hoard," which liad l)ecn decided in favour of the IJoard in the Court of (Queen's HeiK h, was appealed to Her Majesty's I'rivy Council towards the close of i8So. In the month of July, i8Si, the case was argued before the I'rivy Council : present, Lord IJlackburn, Lord Watson, Sir Harnes Peacock, Sir Montague Smith, Sir Robert V. (Jollier, Sir Richard Couch, Sir Arthur Hobhouse. The Solicitors for the board were Messrs. IJompas, Hischoffand Dodgsonof London, and Mr. John L. Morris of Montreal. On the 2ist of January, 18S2, their Lordships delivered their judgment in the case. Inter aliiX : ( i ) That the Act of the Legislature of the Province of Quebec, 38 N'ict. ch. C4, amenchng the Act ol the Province of Canada, 22 Vict. ch. 60, under which the Tem|)oralities Hoard was incorporated, was ultra I'lres, and that conse(|uently the Hoard by which thv Fund was administered subsetpient to the Union was not duly constituted. (2) Their Lordships declined to declare that the Temporalities Fund should be vested in the minority who did not inter into the Union. (3) Their Lordships further de- clined to declare that the ministers who went into the Union ceased to be members of the I'resbvterian Clnirdi of Canada in connection with the Church of Scotland, or that they had no longer any right to the benefits o!" the remi)t)ralities Lund. (4) Their Lordships stated that "the Parliament of Canada is |he only Legislature having power to modify or repeal the pro- visions of the act of 1858. (5) " Their Lordships are of opinion that neither the respondents' (/'. e. the Hoard) own costs, nor those in which they are found liable to the appellant, ought to come out of the trust fund. The appellant's costs must there- fore be paid by the members of the respondent corporation as individuals." // I I u ii^rr Application having been made to the Dominion Legisla- ture for an Act to amend the Act of the late Province of Canada, 22 Vict. ch. 66, an Act was passed during the last session of said Legislature, and assented to by His Excellency the (lOvernor-Cieneral on the i8th of May. The provisions of the said Act are identical with t!»ose of the Act of the Quebec l-cgislature 38 Vict, cb 64, save and except that the clause in section 2, i)roviding " that the successors of ministers of con- gregations in the Province of Quebec, existing at the time of the union, which do not enter into such union, shall retain the same rights to the benefits of the Temporalities Fund which they would have had if such union had not taken jjlace," is omitted ; and the following clause was inserted respecting the final disposition of the Fund : " After the first and third classes of payments named in section one shall have been extinguished and provision shall have been made for the annual receipt in perpetuity of the sum provided for in the second class gf pay- ments (viz. Queen's College), each congregation which declined to become a party to the union and which shall not have entered the union before the time of the extinction of such payments; shall be entitled to a share of the residue, such share to be in the proportion of one to the whole number of congre- gations on the Synod roll on the fourteenth day of June, 1875, the date of the union." 'J1ie Act further jirovides for a meet- ing of the Beneficiaries within 12 months from the passing of this Act. Finance. The payments made to ministers since the date of last report partially cover the claims of three half-years. Acting under the advice of its Solicitor and tiic written opinion of Mr. Strachan Bethune, Q.C., at a meeting held on the ryth day of May, 1881, the Board instructed the Secretary to make the usual payments to all the Beneficiaries that became due on 31st December, 1880, but which had not been paid at that time, and also to issue cheques for the usual amounts to the commuting and privileged ministers and to Queen's Col- lege on the 30th June and 31st December, 1881. 'I'he expen- diture for the year, including as already stated one full half- year's payments and the partial half-yearly payments, was $41,659.87 — of which there was paid to the ministers $33,91 7 ; to Queen's College, $3,000; for law expenses, $2,707.50; ordinary expenses of management, $831.77; and transferred to the contingent account, $1,200 ; interest on overdrawn account, $3.60. The balance due the bank, as per statement of account at the ist of May, was $444.62 ; to which must be added two outstanding cheques for $219 each ; making the balance due the bank $882.62 the ist of May last. T at this liquida The ot are tw at 6 p. ■^ The Assets, as per accompanying memorandum, amount at this date to $307,805.38. There was real'zed from the liquidation of the Consolidated Bank of Canada, $5256.96. The only new investments made during the last twelve months are two mortgages, one for $3700 and one for $12,000 — both at 6 p. c. The Changes on ttie Rom, arc as follows : The Rev. Walter Ross, of Beckwith, died on 7th July, 1881, aged 48; Rev. James C. Muir, D.D., of Georgetown, died on the 9th of July, 1 88 1, aged 83 ; Rev. Thomas .Scott, of Plantagenet, died 7th August, 1881, aged 65 ; Rev. Alexander Forbes, of Water- down, died on 30th October, 1881, aged 68 ; Rev. Telesphore Brouilette, removed to Centreville, Washington Territory, U.S.. in 1881 ; and Rev. H. I). Steele joined the Church of England in 1 88 1. The aggregate amount paid to these ministers yearly was $1900. The number of commuting ministers now on the roll is tiveiity-sereii. 'J'wo of these are ))rofessors in Queen's College. Intimation has been received, however, that one of them, the venerable Dr. Williamson, has retired from active duty in the College. Of privileged ministers there are nine, one of whom is a professor in Queen's College. Of non- privileged ministers there are ninety, three of whom obtained leave from the General Assembly to retire from the active duties of the ministry. The Names of the Managers are as follows :- ^"~ ,Mr. William Darling, Chairman. Rev. John Cook, D.D. Sir Hugh All.aii. Rev. John Jenkins, D.D. Mr. James Michie. Rev. D. M. Gordon, U. D. Mr. Alexander Mitchell, kev. Gavin Lang. Mr. John L. Morris. Rev. Koliert Campbell, M.A. Jmlge Dennistoun. Mr. William Walker. The Auditors are Messrs. James Mitchell and Alexander Macpherson, who have the thanks of the Board for their effi- cient and gratuitous services in examining the books and accounts for the year, and which they have attested as being correct. WILLIAM DARLING, Chairman. Montreal, 2Sth May, 1882. //I ir .: % f A TKMrOUAMTIKS' IIOA HI)— INVESTMENTS, At iHt May, IH82. It ( SliiticM MrnliiiiitH Itunk of ('iiiuidti $41,400.U0 Kiii'liour HdikIh, il|^ |)i r cent. iiitorcHt R8,n()().flO Ooipoiation IIuihIm (! " " 60,000.00 Coiponition Stock 7 " '• 14,200,00 MoitKiiKCH, $10,0110 lit 7 piT cent. an(i$li;,7oo atO per cent. 20,700.00 Deposit ill Hank of Toronto at 4 per cent p(!r annum 7ti,.''>00 . 00 CiihIi at Credit of Contingent account U90.00 $308,250.00 LcnH Balanc(! due Hank Hccoiint $444.(52 Two Outstanding CheckH to be paid 43H.OO fiR2.G2 Availalde asHetn $307,367.38 Tlio amount at tlie Credit of late Miss Fi8iier'n legacy account in tliu MercliantH Dank, Kavin^H department, iH $339.53. .lAMES CROIL, Montreal, lnt May, 1H82. Sficretaii/- Treasurer . TKMP0UALITIE8' HOAllD— AUSTUACT OF ACCOUNT, 1881-82. 1881 HcreiplK. May I— Balance from last year $109.98 Corporation Bonds — interi^st on $(50,000 at 3 p.c. for six months •••• 1800.00 Corporation Stock — interest on $14,200 at 3|^ p.c. for six niontliH 497.00 Draft on Caidtal 16,129.80 Tune 1 — Dividend Merchants liank on $41,400 at 3 p.c. for six montiiH 1242.00 2 — Interest on $10,000 Mortfrage at 3^ p.c. for six months 350.00 12 — Stock Divid(!nd, Consolidated Bank, 10 p.c. on 3H4 Shares, each $(50 2304 . 00 July 6 — Harbour Bonds — interest on $88,500 at 3^ p.c. for six months 2876 . 25 Aug. 29 — Stock Dividend, Consolidated Bank, being nearly 1 3 p.c. on 384 Shares 2952 . 96 Nov. 2 — Corporation Bonds — interest on $60,000 1 800 . 00 " Stock— » on $14,200 497,00 30 — Interest on Bank account 26. IT Dec. 1 — Dividend Mercliants Bank on $41,400 at 3^ p.c. for six montliH 1449.00 17— Draft on CapitiU .3653.20 Interest on Deposit $80,153 at 3 p.c. per annum for II m(mths 2190.64 31 — Interest on $10,000 Mortgage at 3^ p.c 350.00 1882 .Tan. 5 — Harbour Bonds — interest on $88,500 2876.25 Interest on $3,700 Mortgage, at 3 p.c. for 6 months. 1 1 1 . 00 Feb. 28 — Balancft due the Merchants Bank 444 . 62 $41,653.87 I Dec. T 1881 Kxiiendifum. May 18 — Paid Miiiisti.iH foi luilf-yt-ar fiidod :ilnt DL'tem- licr, !«H0, pur littiiiliMl Htiiteiin-nt $17,475.00 Quoon'K C()ll(!Kt' '<"' liMll-ji'iir 1000.00 July 1 — Mr. .Idlin I<. MoiiiH, triivrlliiig iix|H!nHi.'H 500.00 SoliiitdiH ill liori'idii, KiikIuikI 1401 .67 KxpoDHOH of Maiiii^eiiKUit : Hrcnitaiy-Tri-amin^i- twiilvti montliH $100.00 Oftlco Fmnitiirn 21.00 Mcmherrt' travttlliiif{ rxpuiiHOH 10.00 Pi'intiiif; Aiiniiiii H*t|)<)rt 15.00 PoHtago uiul Stutloiicry . TiO 401.50 Commiitinp and I'livilcfrcd MiiiistoiH aK per de- tai lod Ntatcincnt 7075 . 00 Qiicen'H C()ll('t;(i for half-year (jiidliij^ SOtii Juno. 1000.00 K. l{(!t>iun(! for l('Kal opinion 20.00 Aug't 1 — Solit'itorH in London, Kn^land 725.83 Interest on ov<'r-i'll t)4 JiiiiK'H i*1 James McCaiil, B.A Duncan McDonald, MA 94 James B. Muir, M.A. . 94 John Jenkins, D.D ,, 94 Joshini Fraser, V \ 94 Donald Boss, B.L (Luuhine) 'J ) William Aitken 94 Ale.x. Macdonald, B.A 94 M. W. McLean, M.A 94 John S. Lochead 94 Evan Macaulay 94 Henry Edmison, M.A 94 D. .1. Mac