41 



Revised Report of the Committee 



Appointed To Consider the Kstablishnient of a Research 

 Kndowment Fund. 



To THE Members of the Indiana Academy of Science : 



At the r.lonniinston mooting of tho At-adoniy. 1 (ocombor, 1917, tlio reiH)rt 

 of tho (((imiiittoo jiitiiuiutod t(i coiisichT the advisahility of estHblishing )i 

 research fund, was referred hack to the committee for further revision, 

 final action being postiwned in order to give both tlie committee and the 

 membership of the Academy ample time to consider the important project. 

 Ck)pies of the original report were sent to all members early in 191S. As a 

 result of suggestions which have l)eon received from many sources, the com- 

 mittee respectfully suluiiits tlio following revised report. 



R. W. McBKIDE, 



J. S. WRIGHT, 



II. L. P.RUNER, Chairman, 



Committee. 



A PLAN FOR THE ESTABLISHMENT AND ADMINISTRATION OF A 

 FUND FOR THE PROMOTION OF RESEARCH 



Financial Managcmcut of the Fund. 



Trustees — Election — Appointment — • 



The Academy shall organize a board of three trustees for the custody and 

 financial management of a research endowment fund. 



The treasurer of the Academy shall be ex officio a member of this board, 

 and the other two members shall be nominated by the executive committee 

 and elected by vote of the Academy membership. 



The first board shall be constituted as follows: The treasurer of the 

 Academy and one member elected for a term of three (3) years, and one 

 member elected for a term of four (4) years. 



Thereafter the trustees, other than the treasurer of the Academy, shall 

 be elected for terms of four years. Vacancies in office caused by death or 

 resignation shall be filled by appointment by the president of the Academy, 

 but the appointment shall be merely to fill the unexpired term. 



Bonds — 



The trustees shall be required to furnish bonds in accordance with the 

 amount of the funds intrusted to their keeping, the amount of bonds re- 

 quired to be subject to revisicm annually or with every accession to the fund 

 of an amount of one thousand dollars ($1.000.(X)) or more. 



The fees for bonding the trustees shall be paid out of the current funds of 

 the Academy, likewise all other expenses of administering the research 

 endowment fund, until it shall reach an amount yielding twenty-five hun- 



