THE REPORT OF THE DIRECTOR. 31 



improvements are as necessary a part of the upkeep of a de- 

 veloping institution as the expendable supplies. The ' ' Balance of 

 Income carried to Current Surplus" has been expended, or in- 

 vested in such ways, mostly on real estate; and liabilities on 

 future "Current Surplus" have also been acquired mostly in 

 the form of mortgages on newly acquired properties such as the 

 Drew property, the Danchakoff property and Devil's Lane 

 Tract. These mortgages must be discharged in the course of 

 time, and some at least of future current surplus must be used 

 for this account. Another charge on such funds consists of the 

 annual payment of 5 per cent, of the payroll into the newly 

 established retirement fund. Certain badly needed improve- 

 ments in various departments of the Laboratory are also out- 

 standing for which our current surplus has so far proved in- 

 adequate. Members should therefore not receive the impression 

 that the surplus shown in the condensed statement of income and 

 expense in the Treasurer's report represents money that could be 

 used for luxuries. 



7. The Library. During the year Mrs. Montgomery was pro- 

 moted to be Librarian. Her report (pp. 10-17) gives the actual 

 progress for the year. The bound volumes on the shelves have 

 increased from about 13,000 to about 15,000 and the reprints 

 similarly placed on the shelves from about 10,000 to about 25,000 

 during the year. The Laboratory has now seriously undertaken 

 the task of bringing the library service up to the level of the other 

 services of the Laboratory to the scholar, an undertaking fore- 

 cast by the splendid quarters provided in the new building and 

 referred to in past reports. The Library Committee has ac- 

 cordingly in the last two or three years cooperated with the 

 Librarian in a study of needs, and preparation of a report on the 

 subject. This was made the basis of an appeal to the General 

 Education Board for $50,000.00 to be expended as a capital 

 sum in a five year period to complete the foundations of a really 

 comprehensive research library in biology. This amount was 

 appropriated by the Members and Trustees of the General 

 Education Board at their meeting held November 19, 1925, 

 and was accepted with hearty appreciation and thanks by the 

 Executive Committee acting for the Laboratory. Together with 



