REPORT OF EXECUTIVE COMMITTEE 103 



We have verified the record of receipts and disbursements maintained by 

 the Institution and the agreement of the book balances witli the bank balances. 



We have examined all the securities in the custody of the Institution and in 

 the custody of the banks and found tliem to agree with the book records. 



We have compared the stated income of such securities with the receipts of 

 record and found them in agreement therewith. 



We have examined all vouchers covering disbursements for account of the 

 Institution during the fiscal year ended June 30, 1936, together with the 

 authority therefor, and have compared them with the Institution's record of 

 expenditures and found them to agree. 



We have examined and verified the accounts of the Institution with each 

 trust fund. 



We found the books of account and records well and accurately kept and 

 the securities couvenieutly filed and securely cared for. 



All information requested by your auditors was promptly and courteously 

 furnished. 



We certify the balance sheet, in our opinion, correctly presents the financial 

 condition of the Institution as at June 30, 1936. 



Respectfully submitted. 



WnxiAM L. Yaegee & Co., 

 William L. Yaegee, 



Certified Public Accountant. 



Respectfully submitted. 



Frederic A. Delano, 

 R. Walton Moore, 

 John C. Mereiam, 



Executive Committee. 



