52 STATE HOKTICII.TUKAL SOCIETY. 



t'xainined the liat of investment securities presented by Treasurer Gar- 

 field. There have been some changes made in the Hst and the market 

 vakie has fluctuated but the interest has been paid promptly. A full 

 report of these securities and the income received therefrom is appended 

 herewith in the report of Treasurer Garfield. 



The arrangement for the use of the South Haven land, by the State 

 Board of Agriculture, has been continued but the rent received there- 

 from has nearl}^ all been used in the paj'ment of a special tax levy made 

 by the Village of South Haven for a sewer passing through oi- near the 

 property. 



The following is Treasurer Garfield's report to nic which was made on 

 December 2. 1021. 



Grand Kapids, Michigan. 



Doc. 2nd, 1921. 

 Mr. James Satterlee, 



Secretary Board of Trustees, Lyon Memorial I'uiid, 

 Lansing, Mich. 



My dear sir: — 



The year for closing up the account of our trusteeship has arrived, 

 and I am enclosing the following statement which in your discretion 

 you can use for your annual report as Secretary. The investments have 

 changed somewhat, })ecause some of the securities were maturing, and 

 it seemed to me that now was a good time to make a shift, and I think 

 in every case improvement has been made. The following is a list of 

 the permanent investments: 



United States Government Bonds S 150.00 



Swiss Federation Bond 1 ,000.00 



Savannah Electric Co. Bond 500.00 



Commonwealth Power Co. Bond 500.00 



Consumers Power Co. Preferred Stock 1,500.00 



Worden Grocer Co. Preferred Stock 2,000.00 



Dykema Note 335.00 



Brazil 4's 400.00 



Cities Service Debentures 100.00 



Montcalm Co. Bond 1,500.00 



Rio Janerio Bond 1,000.00 



Total $8,985.00 



The funds entrusted to our care are — 



Lyon Memorial Fund $6,600.00 



Life Membership Fund 2,310.00 



Total $8,910.00 



This makes an over investment of seventy-five ($75.00) dollars. l)ul 

 stocks nowadaj^s vary so much in price from week to week that this 

 margin probably had better be maintained. 



There has been no report made of additions to the Life Membership 

 Fund, from the Secretary of the State Society, during the ye&v. 



