APPENDICES 357 
Src. 7. Medals and prizes may be established, and the means of bestowing them 
accepted by the academy upon the recommendation of the council, by whom all 
the necessary arrangements for their establishment and award shall be made. 
Bequests and trusts having for their object the advancement of science may also 
be accepted and administered by the academy. 
ARTICLE VI.—OF THE PROPERTY OF THE ACADEMY 
Sec. 1. All investments shall be made by the treasurer in the corporate name of 
the academy with the approval of a finance committee of three members, to be 
appointed annually by the president, of which the treasurer shall be one. Invest- 
ments shall be made in bonds of the United States, in state bonds, or bonds or 
notes secured by first mortgages on real estate, in investments legal for savings 
banks under the laws of Massachusetts or New York, or in other bonds recom- 
mended to the treasurer by the fiscal advisers of the academy. 
The council shall, at its annual meeting in each year, designate one bank or 
trust company in Washington, D. C., and one in New York city, to act, when 
requested by the treasurer, as the fiscal advisers of the academy. 
The treasurer shall have the authority, with the approval of the finance com- 
mittee, to change any investment held by him in the corporate name of the 
academy. 
Src. 2. No contract shall be binding upon the academy which has not been first 
approved by the council. 
Src. 3. The assessments required for the support of the academy shall be fixed 
by the academy on the recommendation of the council. 
ARTICLE VII.—OF ADDITIONS AND AMENDMENTS 
Additions and amendments to the constitution shall be made only at a stated 
meeting of the academy. Notice of a proposition for such a change must be 
given at a stated meeting, and shall be referred to the council, which may amend 
the proposition, and shall report thereon to the academy. Its report shall be con- 
sidered by the academy in committee of the whole for amendment. 
The proposition as amended, if adopted in committee of the whole, shall be 
voted on at the next stated meeting, and if it receives two-thirds of the votes cast 
it shall be declared adopted. 
Absent members may send their votes on pending changes in the constitution 
to the home secretary in writing, and such votes shall be counted as if the members 
were present. 
RULES 
I. In the absence of any officer a member shall be chosen to perform his duties 
temporarily, by a plurality of viva voce votes, upon open nominations. 
II. On the first day of each stated session, immediately after calling the roll 
of members, a recording secretary shall be elected, by a plurality of members pres- 
ent, to assist the home secretary in keeping the records of the session. 
