REPORT OF THE EXECUTIVE COMMITTEE. 37 



REPORT OF*EXECUTIVE COMMITTEE. 



To the Trustees of the Carnegie Institution of Washington. 



Gentlemen : In compliance with Article V, section 3, and Arti- 

 cle VI, section 3, of the 05' laws of the Carnegie Institution of 

 Washington, the Executive Committee herewith respectfully sub- 

 mits its report for the year 1904- 1905. 



The Executive Committee organized December 20, 1904, by the 

 election of Mr. Wright as chairman and Mr. Walcott as secretary. 

 The committee began consideration of the various directions and 

 authorizations given by the Board of Trustees at its meeting, De- 

 cember 13, 1904 ; also of matters recommended by the committee 

 and approved by the Board. 



The results of the work of the Institution for the fiscal year 

 1 904- 1 905 are shown in the President's report. 



During the fiscal year the committee held six meetings. 



The by-laws provide, Article IV, section 2, that — 



"He [the President] shall submit to the Board of Trustees at 

 least one month before its annual meeting in December a written 

 report of the operations and business of the Institution for the pre- 

 ceding fiscal year with his recommendations for work and appropri- 

 ations for the succeeding fiscal year, which shall be forthwith 

 transmitted to each member of the Board." 



In addition, the by laws provide, Article VI, section 3 : 



' ' The Executive Committee, at least one month prior to the annual 

 meeting in each year, shall cause the accounts of the Institution to 

 be audited b) r a skilled accountant, to be appointed by the chairman 

 of the Board, and shall submit to the annual meeting of the Board 

 a full statement of the finances and work of the Institution and a 

 detailed estimate of the expenditures for the succeeding year." 



The interpretation assumed for the by-laws is that the President 

 shall submit a report of past operations of the fiscal year of the Insti- 

 tution, with his recommendations for the succeeding fiscal year, and 

 that the Executive Committee shall approve the President's report 

 and recommendations and indorse it as their report, or submit a 

 distinct report and recommendations if the committee does not 

 approve of the President's report and recommendations. With this 

 interpretation the committee herewith approves the report of the 

 President and his recommendations as the report and recommenda- 

 tions of the committee. 



There is also submitted a cash and a financial statement. 



