14 MARINE BIOLOGICAL LRBORATORY. 



side of current expenses the Laboratory would be approaching 

 a self-supporting basis. The annual subvention of $20,000.00 

 a year from the Friendship Fund provides both for the excess 

 of current expenses and also for necessary annual improvements 

 and additions. The net assets of the Laboratory increased from 

 $430,251.28 in 1921 to $436,110.60 in 1922; and the liabilities 

 decreased from $30,474.15 in 1921 to $25,438.72 in 1922. 



The increase of income over 1921 amounting to $10,393.99 

 is due to a relatively slight increase of the receipts of all depart- 

 ments and a large increase in the income of the Supply Depart- 

 ment from $42,774.78 in 1921 to $49,368.07 in 1922. 



Great encouragement in our plans for the new buildings pro- 

 posed since 1919 was received during the year from the Rocke- 

 feller Foundation, from the Carnegie Corporation, and from 

 Mr. C. R. Crane. Early in January the Board of the Rockefeller 

 Foundation voted to authorize negotiations with the Marine 

 Biological Laboratory on the basis of one-half of the total sum 

 called for in our estimates, viz.: $1,000,000 for completing the 

 Laboratory, library, and auditorium building and providing 

 endowment for its maintenance. This was conditioned upon 

 the total sum being raised, the continuance of the sum of $20,000 

 annually from the Friendship Fund, and making of satisfactory 

 arrangements for reversion of endowment in case the work of the 

 Laboratory were to be radically changed or abandoned. In 

 February the Trustees of the Carnegie Corporation appropriated 

 the sum of one hundred thousand dollars ($100,000) to the Marine 

 Biological Laboratory for the purpose of creating a fund the 

 income of which shall be used for the maintenance of its build- 

 ings and laboratories provided gifts to the total amount of one 

 million dollars ($1,000,000) be secured for the joint purpose of 

 providing for buildings and for their maintenance. Mr. Crane 

 also assured the Director that the maintenance of $20,000 a 

 year from the Friendship Fund would be guaranteed as soon as 

 the other conditions were met. Circumstances during the re- 

 mainder of the year did not permit an active campaign to secure 

 the additional funds needed though inquiries have been made 

 that should inform us during the session of 1923 just what efforts 

 will be required. 



