REPORT OF AUDITOR. 



Washington, D. C, November 22, ipj2. 



The Executive Committee, 



Carnegie Institution of Washington, Washington, D. C. 



Gentlemen : The books and accounts of the Carnegie Institution of 

 Washington have been audited by us from November i, 191 1, to October 31, 

 1912, by authority 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 carried from the subsidiary books 

 to the general books. 



The income from the Endowment Fund Investments and other sources 

 has been duly accounted for and expenditures have been authorized and are 

 supported by proper vouchers. 



The securities representing the Endowment, Reserve, and Insurance Funds 

 were produced to us, the cash in hand was verified by count and the cash on 

 deposit with banks was verified by properly authenticated certificates. 



Respectfully submitted, 



The American Audit Company, 

 By Otto LuEbkert_, Resident Vice-President. 



Approved : 



F. W. LaFrentz, President. 



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



Attest : 



Theo. Cocheu, Jr., Secretary. 



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