TREASURER S REPORT. 7 



MARINE BIOLOGICAL LABORATORY INVESTMENTS (BOOK 

 VALUES), DECEMBER 31, 1919 



Reserve Fund 



$2,ooo American Telephone & Telegraph Company, 4's 



(represented by receipts for same as collateral) $2,921.25 



500 Western Telephone & Telegraph Company, s's 496.88 



6 shares American Smelting and Refining Company, Pre- 

 ferred (receipt on file) 732.00 



8 shares General Electric Company 948.05 



14 shares United Shoe Machinery Company, Preferred 393-75 



5 shares Massachusetts Gas Companies, Preferred 444-63 $ 5,936.56 



Lucretia Crocker Fund 



$300 Liberty Loan Bonds, 4%'s 300.00 



1/5 of $1,000 American Telephone & Telegraph Company, 4's 194.75 



18 shares Vermont & Massachusetts Railway 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 



4/5 of $1,000 American Telephone & Telegraph Company, 4's 779.00 



3 shares American Telephone & Telegraph Company 375-4 



i share American Smelting and Refining Company, Pre- 

 ferred (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 $i 1,768.83 



January 22, 1920 

 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, 



1919, 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, 1919. 



B Income-and-Expense for the Year ended December 

 31, 1919. 



