The Committee beg to report that there is a further loss of income of £38.17s.0d. owing to subscriptions lapsing, this of course is only natural under War conditions, many members are laying up their cars for the period. It is however satisfactory to note that the excess of income over expenditure amounts to £16.11s.11d.
Again there is appreciation of our investments amounting to £31.11s.6d on the year. To make the position of the club clear to the members the loss of revenue since 1939 amounts to £257.5s.0d, under the circumstances it will be realised that due care has been observed in the management of the club’s affairs. In many cases members resigning have expressed their intention of resuming membership as soon as general conditions improve and the committee entertain no doubt that the membership of the club will regain its strength as soon the war period passes.
Our relations with the R.A.C. remain upon most amicable
lines and their assistance has been given freely to members both in the “get
you home scheme” and legal matters.