REPORT OF EXECUTIVE COMMITTEE 139 



We have verified the record of receipts and disbui'sements maintained by the 

 Institution and the agreement of the book balances v?ith tlie bank balances. 



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

 the custody of the banks and found them 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, 1939, 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 conveniently filed and securely cared for. 



All information requested by your auditors was promptly and courteously fur- 

 nished. 



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

 condition of the Institution as at June 30, 1939. 



Respectfully submitted. 



WrrxiAM L. Yeager & Co., 

 WiXLiAM L. Yeageu, 

 Certified Public Accountant. 



August 31, 1939. 



Respectfully submitted. 



Frederic A. Delano, 

 R. Walton Moore, 



Executive Committee. 



