PROCEEDINGS OF THE BOARD OF REGENTS. XV 



Ave7y hegiiest. — Offers have been received during the year from 

 private parties for the purchase of several of the Avery properties, 

 but as they were deemed inadequate, the proposals were not consid- 

 ered. An appraisement of these properties shows an estimated total 

 valuation of $35,500. 



Sprague and Reid hequests. — There have been no changes in the 

 status of the Sprague and Reid bequests during the year. 



On motion the report was accepted. 



REPORT OF THE EXECUTIVE COMMITTEE ON THE DEFALCATIONS OF 



W. W. KARR. 



Doctor Bell, on behalf of the executive committee, presented a 

 report based upon their examination into the defalcations of W. W. 

 Karr, in compliance with the resolution of the Board of December 5. 

 1005. The methods emploj^ed by the former accountant in abstract- 

 ing funds and the amounts embezzled were fully set forth. The pecu- 

 lations consisted mainly in appropriating miscellaneous receipts 

 derived from the sale of publications, repayments of moneys, etc., 

 tliough approximately $4,000 had been taken from funds received for 

 the International Catalogue of Scientific Literature and $7,400 from 

 (xovernment appropriations for the National Museum. The latter 

 sum, however, was immediately repaid by the company by which 

 Karr was bonded. The capital of the Institution, in view of the 

 manner of its investment, could not be touched. 



Immediately upon the discovery of the defalcation Karr was appre- 

 hended. Later he was indicted, pleaded guilty, and was sentenced to 

 five years' imprisonment in the penitentiar3\ 



The report concluded with a statement of the safeguards which had 

 been adopted to prevent the further misappropriation of funds, and 

 Avith a draft of the following resolution : 



Resolved. That the executive committee be authorized to employ an expert 

 jiccountant to act as clerk of the committee iu counection with its examination 

 of accounts. 



The resolution was agreed to and the report accepted. 



Doctor Bell expressed the opinion that the Institution was respon- 

 sible for the amount abstracted by the accountant from the funds of 

 the International Catalogue of Scientific Literature, which amount 

 should have been forwarded to the London office by the Institution, 

 in accordance with its agreement to act as the American representa- 

 tive for the collection and transmission of subscriptions. This view 

 was accepted by the Board, and on motion of Judge Gray the follow- 

 ing resolution was adopted : 



Resolved, That the executive committee be instructed to make application to 

 Congress, as they may see fit, for an appropriation to cover the amount col- 

 lected by the Institution for the International Catalogue of Scientific Literature 

 and embezzled by its former accountant. 



