e of the
Institution, our warmest thanks for the kindness and courtesy of
the Lord Mayor in allowing us to hold our meeting in this hall.
It is indeed a peculiarly fitting place in which to hold such a
meeting, closely connected as the Institution is with the City
of London. Very nearly half a century ago the Institution
originated in this city. In 1850 the late Duke of Northumberland
became its president. My lamented father was also a vice-patron,
and took the warmest interest in its prosperity. I am happy to
say the respected secretary, Mr. Lewis, occupied that position
at that time, as, indeed, he had long before that time. He has
held it ever since, and much of the success of the Institution
is owing to his long experience, and the energetic manner in
which he has directed its working has raised the Institution to
its present high state of efficiency.

"I may say that there are 174 lifeboats afloat, and that in the
course of the past year 33 have been called into existence, at a
cost of no less than L17,000, the whole of which has been
defrayed by benevolent individuals. Before concluding the brief
remarks which I have addressed to you, however imperfectly, upon
this occasion, I call upon you once more to offer your support
to so excellent an Institution. I am certain you must be
convinced that it is one which is really a necessity for a great
maritime nation like this. I congratulate you that it has
arrived at so efficient a state, and I feel quite sure that you
would be the last to wish it to decay from want of funds."

The Secretary having read the Report, and various speeches having been
delivered, donations were announced to the amount of L1200. At the
luncheon, which was afterwards given in the Long Parlour, the Prince
hoped that the proceedings of that day would advance the prosperity of
the Institution, the benefits of which had only to be more widely known,
to be more largely supported.

We may add that the receipts, as stated in last year's report (1887),
were L56,970, and the expenditure L74,162. During the year 368 lives had
been saved by the Society's boats, and ten vessels saved from
destruction. Besides medals and other testimonials, L3345 had been
granted in rewards. Since the formation of the Society it has voted as
rewards 97 gold and 996 silver medals or clasps, 139 binocular glasses,
15 telesco