REPORT OF AUDITOR. 



Washington, D. C, December 6, 1910. 

 The Executive Committee, Carnegie Institution of Washington: 



Gentlemen : The books and accounts of the Carnegie Institution of 

 Washington have been audited by us from November 1, 1909, to October 31, 

 1910, by authority of the Chairman of the Board of Trustees. 



We did not, however, audit the books of the various Departments, as that 

 is done by the Bursar and his associates, but we did verify the totals as car- 

 ried from the subsidiary books to the general books. 



The income from the Endowment Fund and from Investments has been 

 duly accounted for and the expenditures have been regularly authorized, and 

 are supported by proper vouchers. 



On Tuesday, December 6, 1910, the undersigned, Mr. Otto Luebkert, in 

 company with the Chairman of the Board of Trustees, attended at the vaults 

 of the Hudson Trust Company, Hoboken, N. J., and examined the bonds of 

 the Endowment Fund, finding same on hand and in proper order. 



On Friday, November 18, 1910, Mr. Luebkert, in company with the Bursar, 

 Mr. John L. Wirt, and the Assistant Secretary, Mr. W. M. Gilbert, visited 

 the vaults of The American Security and Trust Company, Washington, D. C, 

 and examined and found correct and in good order the securities comprising 

 the Investment account. 



Respectfully submitted, 



The American Audit Company, 

 By Otto Luebkert, Resident Vice-President. 



Approved : 



F. W. Lafrentz, President. 



[Seal of the American Audit Company of New York.] 



Attest : 



A. F. Laerentz, for Secretary. 



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