328 JOURNAL OF FORESTRY 



But the old contract basing commissions on net profit was not satis- 

 factory to the Secretary who desired a more Hberal arrangement. In 

 January, 1915, Mr. Quincy, in whose hands the general guidance of 

 the finances had come to center was empowered by the Board to draw 

 up a new contract. When Mr. Quincy brought the matter of this con- 

 tract before the Board for its approval the terms of the contract were 

 not read nor were the directors furnished with copies, but a blanket 

 approval was requested and given by the Board members present. This 

 contract gave to the Secretary a salary of $5,000 per year plus 20 per 

 cent of the gross income of the Association for five years, with certain 

 reservations concerning donations and existing current income. The 

 contract was signed for five years and expired on January 1, 1920. 

 When a copy of this contract was finally obtained by him in Feb- 

 ruary, 1915, an efifort was made by one of the directors to have its 

 terms reconsidered but this came to nothing. The nature of this con- 

 tract is such that by increasing the gross expenditures of the Associ- 

 ation, and by that means increasing the gross income, the Secretary's 

 compensation is increased, regardless of whether a profit or loss is 

 shown by such expenditure. 



Meanwhile in the year 1915 Mr. Quincy put through a long con- 

 sidered plan of expanding the Association by raising and expending a 

 sum of money through selling Association bonds bearing 6 per cent 

 interest. Fifteen thousand two hundred and fifty dollars worth of 

 these bonds w^ere sold, but during the year only $2,000 of this fund 

 was permitted by the directors to be spent on the membership campaign. 



In January, 1916, the Secretary asked the approval of the Board 

 to expend $10,000 of this fund to secure new membership. This was 

 objected to on the ground that there was no guarantee that under the 

 existing contract the money so spent would be replaced from net earn- 

 ings. The matter was dropped. The new President, Mr. Pack, later 

 in the year made a donation of $11,500, and the bonds were retired. 



Under this contract the Secretary has very vigorously pushed the 

 work of expanding the membership of the Association, which on Janu- 

 ary 1, 1921, reached a total of 10,402, a net gain in 1920 of 2,584. The 

 general business principles originally adopted in seeking this expansion 

 were sound and had produced a safe and satisfactory growth. The six 

 years following the adoption of the new contract, while producing this 

 further doubling of the membership, has at the same time wrecked the 

 finances of the Association, undermined its policies and destroyed its 



