128 Annals Entomological Society of America [Vol. XIII, 



SECURITIES HELD. 



Bonds reported last year $550 . 00 



10 War Savings Stamps, present value 43 . 50 



U. S. Bond, No. 9,938,349 50.00 



U. S. Bond, No. 1,747,437 50.00 



U. S. Bond, No. 14,145,890 50.00 



Cash balance, carried in current fund 50.51 



Total $794.01 



Respectfully submitted, 



J. M. Aldrich, Treasurer. 

 Washington, Dec. 17, 1919. 



REPORT OF THE MANAGING EDITOR. 



It will very likely be taken for granted that in the publication of 

 the Annals we have had to meet some of the difficulties and discourage- 

 ments that seem to have troubled most of the enterprises of the year. 

 It will not be necessary to detail them here but we trust that those who 

 have been inconvenienced by delays or errors will accord the charity 

 that is granted other delinquents. In spite of unfavorable conditions 

 our subscription list has been well maintained, a number of back vol- 

 umes have been sold and a number of authors have very generously 

 assisted in the expense of providing illustrations for their papers. 



Our expenses have been kept at the lowest point possible with due 

 regard to creditable publication and we have been fortunate in con- 

 tinuing contracts for printing with but slight advances in certain 

 details. However, a readjustment involving an advance to cover higher 

 cost of paper will have to be met the coming year. 



Receipts of the office have amounted to $422.70, of which $398.77 

 have been ttuned over to the Secretary-Treasurer, the balance being 

 used for minor items of expense indicated in the following summary: 



RECEIPTS. 



Subscriptions $259.00 



Sale of back volumes 117.75 



Reprints and engravings 45.95 



Total $422.70 



DISBURSEMENTS. 



Stamps and postal deposits , $ 17 . 43 



Labor 2.50 



Refund on double subscription 4.00 



By balance paid to Treasurer 398.77 



Total $422.70 



I believe we may feel proud of the character of articles published 

 •during the year and there is in hand a supply of excellent material for 

 the coming year. If we are to enlarge the Annals to take care of the 

 desirable papers offered we will need a larger income and this must be 

 sought in a larger membership, an advance in membership and sub- 



