350 CALIFORNIA ACADEMY OF SCIENCES. 



of August, and thereupon an order was made granting per- 

 mission to execute said mortgage. Accordingly, on tiie 2d 

 of September, a note and mortgage for 5^^300,000 i were 

 signed, the interest upon previous notes adjusted to that 

 date, and the difference received in cash ; of which amount, 

 $150,000 not considered necessary for immediate use was 

 loaned out on demand with good security. 



A settlement was made with Miss Flood, the owner of 

 the adjoining building, for the ownership of the party wall, 

 according to a contract which had been made in 1887, and 

 14,500 was paid. 



The receipts from the Crocker Scientific Investigation 

 Fund have amounted to $1,200, and the disbursements for 

 expenses properly chargeable to it were 1960.00. 



The Museum, Library, and all personal property of the 

 Academy is in good condition, but we realize that the com- 

 pletion of the new building, and removal of the books and 

 collections of specimens to a dry and fire-proof building 

 will be a great advantage. 



The Bank of California was selected as a depository for 

 the funds of the Academy. The bonds belonging to the 

 Crocker Scientific Investigation Fund, deeds, contracts and 

 all valuable papers are kept in a box rented for the purpose 

 in the vaults of the Safe Deposit Company. 



Inasmuch as some discussion and communication has 

 been had between members of the Academy and the Board 

 of Trustees, relative to certain matters of detail in the 

 construction of the new building, and more particularly 

 relative to a contract which was made for concrete beams 

 and flooring, your Trustees have thought proper to make 

 reference to the matter in this report, saying that the most 

 careful and searching inquiry was made into this manner of 

 construction, in which all of the Trustees, as well as the 

 architect, took part, and subsequently, after portions of the 

 work had been finished, it was submitted to practical tests, 

 which were successful in every particular, and the Trustees 

 Avere unanimous in adopting this method of construction. 



