l8 CARNEGIE INSTITUTION OF WASHINGTON. 



It has been an honor and a privilege to be so closely associated 

 as I have been with the organization and progress of an institution 

 which bids fair to be a most potent factor in the advancement of 

 knowledge and in the encouragement of scientific men. 

 I am, gentlemen, very respectfully .yours, 



Daniel C. Oilman. 



The following motion was then offered and passed : 



Resolved, That the resignation of President Oilman be accepted ; 

 and in thus severing the harmonious relations which have existed 

 between the President and the Board and the President and the 

 Executive Committee the Trustees desire to express their full appre- 

 ciation of the prestige that the retiring officer has brought to the 

 Carnegie Institution of Washington hy his presidency. 



The Secretary referred to various details of business and submitted 

 the cash statement and financial statement as shown on pages 19 

 and 20. 



The Secretary also reported that since October 31, 1904, he had 

 collected on sales of publications I1589.01, and expended $31,895.21, 

 leaving a cash balance on hand of $438,654.97 to date. 



The consideration of the by-laws was next taken up. The by- 

 laws as amended and adopted are printed on pages 13-16. 



After discussion and various suggestions as to the qualifications 

 needed by a president of the Carnegie Institution of Washington, a 

 ballot resulted in the election of Dr. Robert S. Woodward, Dean of 

 the Scientific Faculty of Columbia University, New York. 



The election of members of the Executive Committee to fill the 

 vacancies caused by the expiration of the terms of Messrs. Billings 

 and Walcott resulted in their re-election to the class of 1907. 



On submission of the report of the Executive Committee the Chair- 

 man and Secretary made a general statement of the plan of work and 

 financial outlook. After discussion and some minor changes, resolu- 

 tions were passed making the following general appropriations : 



Reserve fund ^50,000 



Publication fund, to be continuously available 40,000 



Administration 50,000 



Grants for departments and large projects . 310,000 



Grants for miscellaneous researches 168,000 



At 4.50 p. m. the Board adjourned. 



