\^ * 'V^. IMAGE EVALUATION TEST TARGET (MT-3) 1.0 I.I itt itt lit u 12.2 US 12.0 I 1I& 6" f^ Sdenoes CorpQratiQn V M WIIT MAIN STRUT WltfTm,N.Y. I4SM (7U)t72-4S03 4^ ^ CIHM/ICMH Microfiche Series. CIHM/ICMH Collection de microfiches. Canadian Instituta for Historical IMicroraproductiont / Institut Canadian da microraproductions historiquas Tachnical and Bibliographic Notas/Notas tachniquat at bibliographiquas Tha inatituta has attamptad to obtain tha bast original copy availabia for filming. Faaturas of this copy which may ba bibliographically uniqua, which may altar any of tha imagas in tha raproduction. or which may significantly changa tha usual mathod of filming, ara chackad baiow. n D D D D Colourad covars/ Couvartura da coulaur pn Covars damagad/ Couvartur*' andommagto Covars rastorad and/or lamlnatad/ Couvartura rastaur4a at/ou paiiiculAa □ Covar titia missing/ La titra da couvartura manqua [~~| Colourad maps/ Cartas gAographiquas an coulaur □ Colourad ink (i.a. othar than biua or black)/ Encra da coulaur (i.a. autra qua biaua ou noira) □ Colourad piatas and/or illustrations/ Pianchas at/ou illustrations •n coulaur E Bound with othar matarial/ Rail* avac d'autras documants Tight binding may causa shadows or distortion along intarior margin/ La re liura sarria paut causar da i'ombra ou da la distortion la long da la marga int^riaura Blank iaavas addad during rastoration may appaar within tha taxt. Whanavar possibia, thasa hava baan omittad from filming/ 11 sa paut qua cartainas pagas blanchas ajouttes lors d'una rastauration apparaisaant dans la taxta, mais, lorsqua cala 4talt possibia, cas pagas n'ont pas At* filmAas. Additional comments:/ Commantairas supplimantalras; L'Institut a microfilm* la maillaur axamplaira qu'il lui a At* possibia da sa procurer. Las dAtaiis da cet exempiaira qui sont paut-Atre uniques du point de vue bibliogr^iphique, qui peuvent modifier une image reproduite, ou qui peuvent exiger une modification dans la mAthode normale de fiimage sont indiquAs ci-dessous. n D n D n n Coloured pages/ Pagas de couleur Pages damaged/ Pages endommagAes Pagas restored and/or laminated/ Pages reataurAas at/ou pelliculAes Pages discoloured, stained or foxed/ Pagas dAcolorAes, tachatAes ou piquAas Pages detached/ Pagas dAtachAes Showthrough/ Tranaparance Quality of print varies/ QuaiitA inAgaia da I'impression Includes supplementary material/ Comprand du matAriel supplAmentaira Only edition available/ Saule Adition disponible Pagas wholly or partially obscured by errata slips, tissues, etc., hava baan raf limed to ensure the best possible image/ Les pages totalement ou partiallement obscurcias p^r un fauiilet d'vrrata. una pelure, etc.. ont AtA filmAes A nouveau de fa^on A obtenir la meilleure image possible. TIM tttt Tha poa oft fllm Ori| b^ tha alor oth( fifat •lor or II Tha •ha TIN rtgh rM|i This itam is filmed at tha reduction ratio chackad balow/ Ce document est filmA au taux da rAduction IndlquA ci-dessous. 10X 14X 18X zzx MX 30X 1 12X lex aox 24X 28X 32X ails du difier Lin* lage TIm eopy fNmMI hun hM bMii raproduMd thanks toth* gwNirotlty of : Univtriity of BritMi ColumMc Library Th* imaoM appMring Imt* art th* b«tt quality poat l b i a eonsMaring tha condition and iaglMlitv of tha original copy and In kaaplng with tha fliming eontraet apaoifleationa. L'axamplaira f ilni4 f ut raproduit grioa A la g4n4roaiti da: Univaraity of Britiih Columbia Library Lao imagaa tuivantaa ont 4t4 raproduitoa avac la pliia grand soin, eompta tanu da la condition at da la nattatA da l'axamplaira fiimA, at an conformltA avac iaa conditions du eontrat da filmaga. Original copiof In printad papar covara ara flimad haginning wifh tha front cover and anding on tha laat paga wHh a printad or illuatratad impraa- •lon, or tha back cover whan appropriate. All othar original coplao ara flimad beginning on the first paga with a printad or lliuatrated impree- slon. and ending on the leat page with a printad or illuatratad impreesion. Lee exempleires origineux dont ie couverture en pepler eet imprimie sent fllm4s en commen9ent per Ie premier plot et en termlnent solt per ie dernlAre pege qui comporte une empreinte d'Impreeslon ou d'iliustrstlon, solt per ie second plot, scion ie ces. Tous lee sutres exempleires origineux sent (limAs en commenpent per Ie premlAre pege qui comporte une empreinte d'Impreeslon ou d'illustretloA et en termlnent per Ie dernlAre pege qui comporte une telle empreinte. The leet recordec^ freme on eech microfiche sheH contain the symbol -^ (meenlng "CON- TINUED"}, or tht, symbol ▼ (meenlng "END"). Un dee symbdes suhrents epperettre sur Is demlAre Imege de cheque microfiche, sdon ie caa: la symbols -^ signifle "A 8UIVRE", ie symbols V signifle "FIN". pietee. cherts, etc.. mey be fNmed et different reduction retios. Those too ierge to be entirely included in one expoeure ere filmed beginning In the upper left hend comer, left to right end top to bottom, es meny fremes es required. The foitowing diagrams illustrate the method: Lee certes, pisnches. tsMeeux, etc.. peuvent itre fllmAs A dss tsux de rAductlon diffArents. Lorsqus ie document est trop grend pour Atre reproduit en un ssui clichA. 11 est f limA A pertir de I'engie supArieur gauche, de geuche A droite. et de heut en bes. sn prenent ie nombre d'imagas nAcsssrirs. Lss diegremmes suivsnts iilustrsnt Is mA*:iode. rata slurs, A 1 2 3 3 I2X 1 2 3 4 8 e 4 J..^^.-.,t.^.-A.A^v., 1878. I. FKOM THE MANAOEUS or THE TEMPORALITIES' BOARD. ANNUAL REPORT and FINANCIAL STATEMENTS, For the yoar ouding 3l8t Decomber, 1877, FOR THE INFORMATION OF THE BENEFICIARIES, In conformity with the Act of the Legislature of Quebec, j8 Vict. Cap. 64. 210 St. James Stkset, Montreal, JAMES CROIL, Sec.-Treaturer, II. FKOM THE BOARD OF MANAGERS or THE MINISTERS' WIDOWS' AND ORPHANS' FUND, Of the Presbyterian Church of Canada in connection with the Church of Scotland. ANNUAL REPORT and FINANCIAL STATEMENT, For thu year ouding 3l8t May, 1878, FOR THE INFORMATION OP THE GENERAL ASSEMBLY OF TUS PRESBYTERIAN CHURCH IN CANADA. 210 St. James Strbbt, Moiitreal. JAMES CROIL, See,' Treaturer '«MHaii ANNUAL REPORT. To THE Beneficiaries of the Temporalities Board. In accordance with the provisions of the Act of the Legislature of Quebec, regulating the administration of the Tenjporalities Fund, the Chairman begs leave to transmit to the Beneficiaries the following Report and accompanying Statements. Investments. — As appears from annexed Statement (A) the par value of the investments at this date is $402,398.75. The deficiency as compared with last year is largely due to the shrinkage in the value of the stock of the Merchants Bank of Canada, which has lately been reduced by authority of the Dominion Parliament from one hundred dollars to sixty-six and two-third dollars per share. The investment of the Board in this stock is thus reduced from $70,000 to $46,600, entailing a loss of about $25,000. It is with deep regret the Managers make this announcement. It has been their desire, and they have endeavoured for some yeair past, to replace investments of this class with others of a less fluctuating kind, but they were prevented from doing so by the unfavourable state of the market ; and the commercial crisis which has arisen has been attended with such a depreciation, not only in the value of bank stocks but of real estate also, as seemed to make it impossible meanwhile to effect any changes advantageously to the interests of the Fund. Notwithstanding the loss which this Fund, in common with many other interests, has thus sustained, the Managers believe that the course pursued by the Bank authorities has been the best in the circumstances for all parties concerned, and they are not without hope that the issue of the matter may prove less disastrous than was at first apprehenried. The temporary suspension of dividends from the Merchants Bank has rendered the drafts upon capital larger than they would otherwise have been. For the year ending 31st May, however, the Bank has declared a dividend of seven per cent., which benefits the Fund to the extent of $3,263. The total expenditure for the year is $683.32 less than for the previous year. _ir,_, , 'A I ) r Changes in the Roll of Beneficiaries. — Since the date of last report the names of four ministers have been re- mo» ' from the roll, as follows : (i) The Rev. John Rannie, formerly of St. Andrew's Church, Chatham, Ont., who was appointed to the parish of All Saints at New Amsterdam, British Guiana, by the Colonial Committee of the Church of Scotland ; (2) The Rev. William Snodgrass, D.D., late Prin- cipal of Queen's University and College at Kingston, who was inducted to the parish of Canonbie, Dumfriesshire, Scotland, on the 23rd November last ; (3) The Rev. Malcolm McNeil, late of St. Andrew's Church, Simcoe, Ont, now in Scotland ; and (4) the Rev. William Barnhill, for sometime an ordained Missionary within the bounds of the Presbytery of Toronto, now residing in the United States. The Rev. James Herald of Dundas having retired from the active duties of the ministry, with the leave of the General Assembly, has had his name placed on the list of ministers receiving $400 per annum. One minister under temporary suspension, having been re-in- stated by his Presbytery, his name has been replaced on the roll. The number of Commuting Ministers on the roll is at present thirty-two ; of Privileged and Retired Ministers, thirteen ; and of others, ninety-eight. In all, there are one hundred and forty-three names on the roll — a decrease of fen since the Union. No vacancies have occurred in the Board of Management during the past year. The names of the Managers are as follows : — Mr. William Darling, Chairman. Rev. John Cook, D.D. .Sir Hugh Allan. Rev. J. H. Mackerras, M.A. Mr. James Michie. Rev. John Jenkins, D.D. Mr. Alexander Mitchell. Rev. D. M. Gordon, B.D. Mr. John L. Morris. Rev. Gavin Lang. Judge Dennistoun. Mr. William Walker. The Auditors are Messrs. James Mitchell and Alexander Macpherson, who again have the thanks of the Board for their services in examining the books and the financial statements hereto appended, and which they have attested as being correct. ^ WILLIAM DARLING, Chairman, Montreal, 15th May, 1878. A TEMPOBALITIES BOARD— INVESTMENTS On the lit o/ May, 1818. 466 Shares Merchants Bank of Canada $46,600.00 296 " Consolidated Bank of Canada 29,600.00 15 per cent, paid on 88 Shares New Stock Consolidated Bank, at par 1,320.00 Montreal Harbonr Bonds for 88,500.00 Montreal Corporation Bonds, 6 per cent 214,000.00 City of Montreal Inscribed Stock, 7 per cent 20,900.00 Mortgages 1,400.00 Cash in Bank 78.75 §402,398.75 In addition to the above, the Board hold in trust the proceeds of Miss Fisher's legacy, namely, 12 Shares of the Consolidated Bank of Canada, of the par value of $1200, together with accrued interest, amounting in all to the sum of $1577.77. JAMES CROIL, Secrff.ari/-Treasurer, Montreal, 1st May, 1878. TEMPORALITIES BOARD— ABSTRACT OF ACCOUNT, 1877-78. 1877. Receipts. April 28 — Balance from last year $677.00 May 1 — Interest on $29,300 City Corporation Stock for 6 months at 3j p. ct 1,026.50 Interest on $9,000 Corporation Stock for 6 months at 3 p. ct 270.00 Interest on $214,000 Corporation Bonds at 3 p. ct. for 6 months 6,420.00 June 2 — Interest on Bank account 20.43 Proceeds of 3 Shares Montreal Corporation 7 p. ct. stock at 116J, less brokerage J p. ct. . . 348.75 One month's interest on the above 3 shares ... 1.78 Proceeds of $4,000 Montreal Corporation 6 p. ct. at 101, less brokerage ^ p. ct 4,030.00 Interest on above $4,000, 1 month 4 days 22.36 6 — Proceeds $6000 Montreal Corporation 6 p. ct. Stock at 101, less brokerage J p- t'* 5,037.50 Interest from 1st May to 7th June on above. . . 30.41 Dividend Consolidated Bank on $30,920 for 6 months at 3 p. ct 927.60 July 7 — Interest on $88,500 Harbour Bonds for 6 mo's. at 3J p. ct 2,876.25 Novr. 2 — Interest on $29,000 City Corporation Stock for 6 months at 3^ p. ct 1,015.00 Interest on $214,000 Corporation Bonds at 3 p. ct. for 6 months 6,420.00 "-' ^"^ '"■" T^ 6 V Deer. 1— Dividend Consolidated Bank on f 30,920 for 6 months at 3J p.ct 1,082.20 27 — Proceeds 81 shares Montreal Corporation 7 p. ct. Stock at 11 7 J, less brokerage J p. ct 9,477.00 Interest on above from 1st Nov. to Ist Jan. . . . 94.76 1878. Jan. 5— Interest on $88,500 Harbour Bonds for 6 mo's. at 3J p.ct 2,876.25 Feb. 28 — Interest on 8t. Andrew's Church Mortgage to date 60.00 March 1 — Balance from special account in Merchants' Savings Bank 66.96 $42,779.75 1877. Expenditure. May 30 — Payments to Ministers, per detailed statement. $20,419.00 Queen's College for 6 months 1,000.00 Expenses : Secretary, 6 months 200.00 M Office Rent 50.00 •♦ Members' travelling expenses 45.00 ' it Printing 14.00 <| Postages 8.00 Deer. 30 — Payments to Ministers, per statement 19,700.00 Queen's College for 6 months 1,000.00 Expenses : Secretary, 6 months 200.00 " Office Rent 50.00 « Members' travelling expenses 35.00 « Stationery 33.50 " PostageH, &c 10.60 Balance in Merchants Bank 14.75 $42,779.75 Montreal, Ist May, 1878. Examined and found correct. JAMES CROIL, Secretary- Treaturer, James Mitchell, I j //■/ Alexander Maci'Hkrson, / *'*"""<"'•• # I 1 i TEMPORALITIES' BOARD,— PAYMENTS TO MINISTERS, For half-yeart ending 30tA June and 30