REPORT OF AUDITORS. 



I 



Washington, D. C, November 20, 1922. \ 



To THE Board of Trustees, \ 



Carnegie Institution of Washington, i 



Washington, D. C. I 



Dear Sirs: We have audited the books and records of the Carnegie Insti- 

 tution of Washington for the year ended October 31, 1922. We did not audit 

 the books of the various departments, as this is done by the Bursar and 



Assistant Bursar. i 



The income from investments and other sources has been duly accounted '' 



for and disbursements were supported by proper vouchers. ■ 



We counted the cash on hand, and the cash in banks was verified with cer- , 



tificates from the despositaries. I 



The securities representing the investments were exhibited to us. ■ 



We certify that the balance-sheet, the schedules of securities and real estate ; 

 and equipment, and the statement of receipts and disbursements printed on 



pages 40 to 45 of the Year Book for 1922 are in accordance with the books. i 



Respectfully submitted. ^ 



The American Audit Company, = 



By C. R. Cranmer, Resident Manager. ] 



[seal.] I 



Approved : j 



F. W. Lafrent25, I 

 President. 



Attest : 1 

 W. H. Pickett, 

 Ass't Secretary. 



37 



