TREASURER'S REPORT. 137 



Woods Hole trust property 7,750.00 



Permanent improvements 6,381.24 44,131.24 $122,537.53 



B. Buildings, January i, 1917 163,848.88 



Woods Hole boathouse $3,500.00 



Permanent improvements 1,768.56 5,268.56 169,117.44 



C. Equipment, January i, 1917 $73,303.36 



Permanent improvements 3,423.97 76,727.33 



$368,382.30 



MARINE BIOLOGICAL LABORATORY DEPRECIATION RESERVE 



Buildings 

 Balance, January i, 1917 $3,276.96 



2 per cent, depreciation, 1917 3,312.35 



$6,589.31 

 Less upkeep charges 3,092.05 $3,497.26 



Equipment 



Balance, January i, 1917 $3,665.16 



5 per cent, depreciation, 1917 3,836.36 



$7,501.52 

 Less upkeep charges 2,116.96 5,384.56 



Total reserve, Exhibit A .............. $8,881.82 



February 6, 1918. 

 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, 



1917, 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, 1917. 



B Income-and-Expense for year ended December 



Schedule I Investments (Book Values). 



II Cash Receipts and Payments on account 

 of Investments. 



III Summary of Inventory of Land, Build- 



ings and Equipment. 



IV Depreciation Reserve. 



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

 sheet and income-and-expense statement shown in Exhibits A 



