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 pubhcation; and Article VI, Section 3, provides 

 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 year 1914-1915. 



During the fiscal year ending October 31, 1915, the Executive Com- 

 mittee held eleven meetings, including joint meetings with the Finance 

 Committee on January 23, 1915, and March 18, 1915. Printed reports 

 of these meetings have been sent to the Trustees of the Institution. 



Upon the adjournment of the Board of Trustees on December 11, 

 1914, the members of the Executive Committee met and organized by 

 the election of Mr. Welch as Chairman for 1915, and by voting that the 

 Assistant Secretary of the Institution act as Secretary of the Com- 

 mittee for the same period. 



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

 Institution for the fiscal year 1914-1915, together with itemized finan- 

 cial 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 1916. 

 The Executive Committee hereby approves the report and the recom- 

 mendations of the President as the report and recommendations of 

 the Committee. 



The Board of Trustees at its meeting of December 11, 1914, appointed 

 Messrs. Heins and Whelen of Philadelphia to audit the accounts of the 

 Institution for the fiscal year ending October 31, 1915. This firm was 

 dissolved shortly afterward, however, and the Executive Committee 

 at its meeting of January 23, 1915, appointed the firm of Messrs. 

 Lybrand, Ross Brothers, and Montgomery, of Philadelphia, as auditors 

 for the past year. The report of this company is herewith submitted 

 as a part of the report of the Executive Committee. 



There is also submitted a balance sheet, showing the condition of 

 the assets and UabiUties of the Institution on October 31, 1915, 

 together with statements of receipts and disbursements for the fiscal 

 year and of aggregate receipts and disbursements since the organiza- 

 tion of the Institution on January 28, 1902. 



Mr. Henry L. Higginson submitted his resignation as a member of 

 the Finance Committee and it was accepted with regret by the Execu- 



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