THE

Journal of Obstetrics @ Gynaecology of the British Empire

VOL. 57, No. 6 ,YEW SERIES DECEMBER I 9 5 o

TRANSFER OF THE JOURNAL TO THE ROYAL COLLEGE OF OBSTETRICIANS AND GYNAECOLOGISTS

AT an Extraordinary General Meeting of the shareholders held in London on 9th November, 1950, it was resolved that the Journal be sold to the Royal College of Obstetricians and Gynaecologists.

In submitting the resolution, the chair- man of directors, Sir Eardley Holland said :

“ It is obvious that this meeting is a land- mark in the history of the Journal. The Journal was founded 50 years ago by the gynaecologists of Great Britain and Ireland as a limited liability company. The original capital was L5,ooo in 1,000 shares of A5 each. In 1931, having suffered consider- able losses, the capital was reduced to its present level of A2,715 in 905 shares of A3 each, of which 880 have been issued.

“Since 1931 the financial position has steadily improved until, at the date of the last published accounts, the assets of the Company stood at the figure of ,&5,756 of which A4,715 was represented by trustee securities. Against the figure of A5,756 must be set the sum of A367 for accrued expenses and an estimated A350 expenses of the proposed sale of the Journal and liquidation of your Company, leaving approximately ;f;5,000 at current market values for distribution amongst the share- holders.

“From the first the venture was a journalistic success and justified the object

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and the spirit of its founders. The growing subject of Obstetrics and Gynaecology clearly had to have its own journal. I t may be said that the Journal played a powerful role in the establishment of our specialty on a firm basis

‘‘ It was a journalistic success but it was not a financial one in the sense of being a dividend payer. I t has never paid its share- holders a dividend. But its annual balances of income over expenditure have accumulated a certain amount of capital. This capital has been wrung out of the voluntary efforts of certain people. Its editors have never been paid a salary. To successive editors we owe a great debt. Their names, in order, are Champneys, Fairbairn, myself, Cornyns Berkeley, and the present editor, James Young. Until recently the abstracting staff and the review- ing staff have done their work for nothing and the contributors of papers published in the Journal have shared to a considerable extent in the cost of their illustrations and tables.

“ In addition, the Journal has been for- tunate in having friends outside the ranks of gynaecology. First, we are fortunate in having Messrs. John Sherratt and Son as our publishers. In the difficult years of the 1914-1918 war and of the period of recovery this firm, in the person of Mr. John Sherratt, was a good and true

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JOURXAL OE' OBSTETRICS AND GYNAECOLOGT 874 and gcnerous friend. We can never forget the debt we owe to this firm. John Shcrratt took a great pride in the Journal and in its good narne.

" We have good and generous friends, too, in our solicitors, Messrs. Lawrancc, Messcr and Co., who have done such routine legal business as was required with- out charge. We cannot thank them enough for these generous services.

" Our auditors, also, Messrs. Auker, chariered accountants, have looked after our accounts and finances for a purely nominal charge and we owe them our warm thanks.

" I wish especially to thank the present editor, James Young. For ten years he has cclited the Journal with remarkable success and has raised it to the rank of one of the two most successful journals of its kind in the world. During his reign the number of subscribers has more than doubled. I should like also to mention his devoted assistant, Dr. Meave Kenny.

"Now let me say a few w-ords on the resolution. When the College approached your directors of the Journal two years ago we were not all convinced that the owner- ship of- the Journal by the College would be altogether for the good of the Journal. But since then therc have been conferences betwecn your Board of Directors and reyrcsentatives of the College which h a w resulted in this resolution being put before you.

"I feel sure that no one here has any doubt that the Journal, if owned arid managed by the College, would be in safe hands and that its present high standards and reputation would be maintained. You will be pleased to hear that the present editor is remaining in his office, and mill bc paid a salary by the College.

(' On the whole your directors feel that the future of the Journal is safer in the ownership of a powerful body like the College than continuing in the form of a private company."