REPORT OF THE EXECUTIVE COMMITTEE. 



To the Trustees of the Carnegie Institution of Washington: 



Gentlemen: Article V, Section 3, of the By-Laws provides that the 

 Executive Committee shall submit, at the annual meeting of the Board 

 of Trustees, a report for publication; and Article VI, Section 3, pro- 

 vides that the Executive Committee shall also submit, at the same time, 

 a full statement of the finances and work of the Institution and a 

 detailed estimate of the expenditures for the succeeding year. In 

 accordance with these provisions, the Executive Committee herewith 

 respectfully submits its report for the fiscal year ending October 31, 

 1921. 



During this year the Executive Committee held nine meetings, 

 printed reports of which have been mailed to each Trustee. 



Upon adjournment of the meeting of the Board of Trustees of De- 

 cember 10, 1920, the members of the Executive Committee met and 

 organized by the re-election of Mr. Walcott as Chairman for 1921, and 

 by voting that the Administrative Secretary of the Institution act as 

 secretary of the Committee for the same period. 



The President's report gives in detail the results of the work of the 

 Institution for the fiscal year 1920-1921, together with itemized 

 financial statements for the same period and a summary of receipts and 

 expenditures of the Institution to date. The President also submits a 

 report and an outline of suggested appropriations for the year 1922. 

 The Executive Committee hereby approves the report and recommenda- 

 tions of the President, upon the basis of which additional recommenda- 

 tions respecting appropriations for the year 1922 were authorized by 

 the Committee at its meetings of November. 



The Board of Trustees, at its meeting of December 10, 1920, ap- 

 pointed Messrs. Price, Waterhouse & Co., of New York, to audit the 

 accounts of the Institution for the fiscal year ending October 31, 1921. 

 The report of the auditor, including a balance-sheet showing the assets 

 and liabiUties of the Institution on October 31, 1921, is herewith sub- 

 mitted as a part of the report of the Executive Committee. 



There is also submitted a statement of receipts and disbursements 

 since the organization of the Institution on January 28, 1902. 



It is reported that Messrs. Howe, Swayze and Bradley, of Washing- 

 ton, D. C, have been appointed local attorneys of the Institution, 

 under the general direction of Messrs. Cadwalader, Wickersham and 

 Taft, Counsel of the Institution, for the submission of opinion on 

 questions which it may not be essential to refer to counsel. 



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