FORTY-FIFTH ANNUAL REPORT. 173 



ANNUAL EEPORT OF J. SATTERLEE, SECRETARY OF THE 



BOARD OP TRUSTEES OF THE LYON 



MEMORIAL FUND. 



To the Members of the Michigan State Horticultural Society: 



During the last clay of the Annual meeting of the State Horticultural 

 Society held at Kalamazoo in 1914, the Board of Trustees of the Lvou 

 Memorial Fund held a joint meeting with the Executive Board of the 

 Michigan State Horticultural Society. At this meeting, at which all 

 the members of the two boards were present, various matters pertain- 

 ing to the relations and Avork of the two boards were discussed, and 

 the probable permanent income to be derived from the Lyon Memorial 

 Fund, anti the slowly increasing Life Membership Fund was made 

 clear. It was voted by the Executive Board of the State Horticultural 

 Society' to turn over Ss250.00 of the general fund then on hand to the 

 credit of the Life Membership Fund. This brings the Life Membership 

 Fund up to $750.00 Since that time this board has had no regular or 

 special meeting. 



I have received the following report from Chas. W. Garfield, treas- 

 urer of the Board of Trustees of the Lyon Memorial Fund. 



Grand Rapids, Mich., Nov. 18, 1915. 



James Satterlee, Secretary of the Board of Trustees of the Lyon Me- 

 morial Fund, Lansing, Mich. : 



My Dear Sir: — In accordance with my usual custom in carrying 

 out the spirit of the trust which has placed the management of the 

 Lyon Memorial Fund in our hands, I herewith present you with 

 my annual report as treasurer of that fund. 



There is no change in the permanent securities v»diich make up the 

 volume of this fund, so I will not list them in this report. (They are 

 found in full in the report for 1914.) 



The aggregate of securities |8,335 00 



Cash in Bank 516 23 



Total • 18,851 23 



The Lyon Memorial Fund |7,600 00 



Life Membership Fund 750 00 



18,350 00 



Leaving a balance due State Society 501 23 



For the purpose of record and to give you an idea of the manner in 

 which the funds have been received and disbursed since my last report, 

 I give you here a list of the transactions as recorded in our Savings- 

 Book in the Grand Rapids Savings Bank: 



