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 pubUcation ; 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 1915-1916. 



During the fiscal year ending October 31, 1916, the Executive Com- 

 mittee held eight meetings. Printed reports of these meetings have 

 been mailed to each Trustee of the Institution. 



Upon the adjournment of the Board of Trustees on December 10, 

 1915, the members of the Executive Conmaittee met and organized by 

 the re-election of Mr. Welch as Chairman for 1916, 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 1915-1916, 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 outhne of suggested appropriations for the year 1917. 

 The Executive Comjnittee 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 10, 1915, in- 

 structed the Executive Comanittee to appoint either Messrs. Price, 

 Waterhouse & Co., of New York, or Messrs. Arthur Young & Co., of 

 Chicago, to audit the accounts of the Institution for the fiscal year 

 ending October 31, 1916. Proposals were obtained from these firms, 

 and at its meeting of February 17, 1916, the Executive Conunittee 

 selected Messrs. Price, Waterhouse & Co. 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 habihties of the Institution on October 31, 1916, together 



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