THE MARINE BIOLOGICAL LABORATORY. 279 



VIII. The consent of every Trustee shall be necessary to dissolution 

 of the Marine Biological Laboratory. In case of dissolution, the 

 property shall be given to the Boston Society of Natural History, or 

 some similar public institution, on such terms as may then be agreed 

 upon. , 



IX. These By-Laws may be altered at any meeting of the Trustees, 

 provided that the notice of such meeting shall state that an alteration 

 of the By-Laws will be acted upon. 



X. Any member in good standing may vote at any meeting, either 

 in person or by proxy duly executed. 



IV. TREASURER'S REPORT. 1 



Harvey S. Chase & Company, 

 Certified Public Accountants, 84 State Street, Boston. 



January 21, 1922 

 MR. D. BLAKELY HOAR, 

 161 Devonshire Street, 

 Boston. 



Dear Sir: We have completed our audit of the accounts of the 

 Marine Biological Laboratory for the year ended December 31, 

 1921, as kept both at your office in Boston and at Woods Hole, 

 and report thereon in the accompanying exhibits and schedules : 



Exhibit A Balance Sheet as of December 31, 1921. 



Exhibit B Income and Expense for the Year ended December 



31, 1921. 



Schedule I Investments (Book Values). 

 Schedule II Cash Receipts and Disbursements on Account 



of Funds. 



Schedule III Land, Buildings, and Equipment. 

 Schedule IV Supply Department Income and Expense Ac- 

 count for the Year ended December 31, 

 1921. 



We certify that, subject to the comments herewith, the balance 

 sheet and income and expense statement shown in Exhibits A and 



3 Only a part of the audit is included in the Treasurer's report. The com- 

 p'cle audit is on file at the Laboratory and may be examined by any member. 



