THE REPORT OF THE TREASURER. 5 



VII. The President shall annually appoint two Trustees, who shall 

 constitute a committee of finance, to examine from time to time the 

 books and accounts of the Treasurer, and to audit his accounts at 

 the close of the year. No investments of the funds of the Corpora- 

 tion shall be made by the Treasurer except approved by the finance 

 committee in writing. 



VIII. The consent of every Trustee shall be necessary to dissolu- 

 tion 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. THE REPORT OF THE TREASURER. 1 



HARVEY S. CHASE & COMPANY 



Certified Public Accountants 

 84 State Street, Boston. 



February 9, 1925. 

 MR. LAWRASON RIGGS, JR., 



25 Broad Street, 

 New York. 



Dear Sir: We have audited the accounts of the Marine Bio- 

 logical Laboratory for the year ended December 31, 1924 and 

 report thereon in the following exhibits and schedules, together 

 with our comments, viz: 



Exhibit A Balance-Sheet, December 31, 1924. 



Exhibit B Income-and-Expense, Year ended December 31, 



1924. 



Schedule I Securities held by Central Union Trust 

 Company of New York as Trustees under 

 Agreement dated January 22, 1924. 

 Schedule II Lucretia Crocker Fund, December 31, 1924. 



1 Schedules IV and V are not included in this report. The complete audit is on 

 file at the Laboratory, and may be examined by any member. 



