The last number of THE LIFE-BOAT gave the news that the Institution's deficit in 1967 was likely to exceed £400,000. This has now been confirmed, and the accounts showed that the final figure was £400,084.

The previous number included a special appeal from Captain Wyndham-Quin.

The direct response to this appeal has been limited, and contributions sent to the editor of THE LIFEBOAT have amounted to only about £100. On the other hand, there is encouraging evidence that more and more of our supporters are taking advantage of the covenant scheme.

As those who see the Institution's advertisements will have noticed, a campaign is being run with the slogan 'Give your income tax to the life-boat service'.

This is, in effect, what happens when contributors sign deeds of covenant. For example, a subscription of £2 2s. per year under deed of covenant is worth £3 11s. 6d. to the R.N.L.I., because the Institution is able to recover income tax paid by the donor on £3 1 Is. 6d., at the rate of 8s. 3d. in the pound. The system applies to contributions of any amount on which the standard rate of income tax is paid. The R.N.L.I. receives contributions by covenant ranging from 5s.

to £3,000 per year, and all are most welcome. If the contributor dies within seven years of entering into a deed of covenant payment ceases automatically, and there is no question of any charge on his estate.REMITTANCE FROM BRANCHES One consequence of the deficit in 1967 was that the Institution was obliged to sell investments to meet the excess of expenditure over income. It frequently happens that in the first half of the year investments have to be sold to meet day-to-day cash requirements pending the receipt of the main branch remittances in September and October. Such sales may well result in losses to the Institution, which could be avoided in part if branches were to remit cash at more frequent intervals. Even when cash is placed by branches at banks on deposit the rates earned are usually lower than those which can be obtained centrally by the Institution.

It is appreciated that some branches like to hand over a cheque representing the year's revenue at their annual general meeting or at some other function, and there is no reason why a notional cheque should not be presented at these pleasant ceremonies after remittances have been sent to headquarters.

NEW FAST RESCUE CRAFT A new inshore rescue boat has been developed for the Institution at Atlantic College, Llantwit Major, Glamorgan. The boat was designed by pupils of the college under the supervision of its headmaster, Rear-Admiral D. J. Hoare, C.B., M.I.MECH.E., M.R.I.N.A.

She is now undergoing evaluation trials at Lyme Regis and was shown to the press on 16th April. The boat has been the result of four years' work. Admiral Hoare's aim was to combine the advantages of the soft tube inflatable with a rigid buoyant underwater body which would reduce maintenance to a minimum and allow higher speeds to be achieved. A detailed description of the boat appears on page 53.

LIFE-BOAT SOUVENIRS As most supporters of the R.N.L.I. know, the Institution has a number of attractive souvenirs for sale, including linen tea cloths, head scarves, pens and pencils, children's badges and toy life-boats. These souvenirs were originally sold in small quantities at boathouses where it was felt they might attract people who might not otherwise be disposed to give money to the R.N.L.I. So long as sales were limited in volume a very simple system of accountancy was used and branches were credited with the gross takings from the sale of souvenirs. As more and more souvenirs were sold it became increasingly evident that this system was misleading, and it was therefore decided to credit branches with net takings. At the same time it became apparent that sales of souvenirs on many occasions, so far from producing a profit for the Institution, actually produced losses.

NOTICE All contributions for the Institution should be sent either to the honorary secretary of the local branch or guild, or to Stirling Whorlow, O.B.E., Secretary, Royal National Life-boat Institution, 42 Grosvenor Gardens, London, S.W.I.

All enquiries about the work of the Institution or about this journal should be addressed to the Secretary.

The next number of THE LIFE-BOAT will be published in September, 1968.Because of the high cost of postage, loss or damage in transit, and the hidden expenses of handling at the depot, sales of small quantities of souvenirs at branch events were frequently found to be uneconomic, and voluntary workers were putting in considerable efforts without, in fact, increasing the Institution's revenue. For these reasons, it was decided as a general policy to confine the sale of souvenirs to boathouses, major shows and similar functions to which depot transport would have to be sent in any event.Channel Islands Visit The Chairman of the R.N.L.I., Admiral Sir Wilfrid Woods, G.B.E., K.C.B., D.S.O., and the Secretary, Mr. Stirling Whorlow, O.B.E., visited the Channel Islands on 16th-17th April, 1968, for discussions with both the fund-raising and operational branches of the Institution.

They also visited the life-boat stations at St. Helier and St. Peter Port and met a number of leading citizens who are keenly interested in the life-boat service..