Or more briefly :-
Estimated liabgilities, $4,211.73
Estimated assets, 3,421.26
Leaving an excess of liabilities
over, assets, $790.47
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It will be seen that if our estimate is correct, and unless there is some unexpected falling off in the receipts, that the total indebtedness of the boat Club at the close of the year will be $790.47; thus effecting a reduction of the debt of $1,264.44.
Very respectfully,
A. T. FRENCH. Pres.J. J. STORROW, Capt.W. R. WILSON, Treas.