TREASURER S REPORT. 351 



18 shares Vermont and Massachusetts Railroad Company .$2,416.50 



I share American Telephone & Telegraph Company 125.02 



3 shares General Electric Company 364-85 



i share West End Street Railway Company 83.00 3,484.12 



Library Fund 



$300 Liberty Loan Bonds, 4M's $ 300.00 



5 of Si.ooo American Telephone & Telegraph Company, 4*5. 779.00 



3 shares American Telephone & Telegraph Company 37S-O4 



I share American Smelting & Refining Company Preferred 



(receipt on file) 122.00 



3 shares General Electric Company 362.10 



5 shares United Shoe Machinery Company, Preferred 140.63 



3 shares Massachusetts Gas Companies, Preferred 269.38 $2,348.15 



Total, Exhibit A . % $11,768.83 



HARVEY S. CHASE & COMPANY CERTIFIED PUBLIC ACCOUNTANTS, 



84 STATE ST., BOSTON 



MR. D. BLAKELEY HOAR, February n, 1919 



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, 



1918, 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, 1918. 



B Income-and-Expense for the year ended December 



31, 1918. 

 Schedule I Investments (Book Values). 



II Cash Receipts and Payments on account of 



Investments. 

 Ill Summary of Inventory of Land, Buildings and 



Equipment. 



IV Depreciation Reserve. 



We certify that, subject to the comments herewith, the bal- 

 ance-sheet and income-and-expense statement shown in Ex- 

 hibits A and B are in accordance with the books and correct to 

 the best of our knowledge and belief. 



Very respectfully, 

 HARVEY S. CHASE & COMPANY, 



Certified Public Accountants. 



