﻿REPORT 
  OF 
  THE 
  SECRETARY 
  107 
  

  

  The 
  organization 
  was 
  started 
  on 
  very 
  limited 
  and 
  borrowed 
  cap- 
  

   ital, 
  which 
  greatly 
  added 
  to 
  the 
  cost 
  of 
  production, 
  as 
  it 
  was 
  neces- 
  

   sary 
  to 
  have 
  all 
  printing 
  done 
  by 
  private 
  firms. 
  The 
  cost 
  of 
  sub- 
  

   scription, 
  $85 
  per 
  year, 
  placed 
  the 
  work 
  beyond 
  the 
  means 
  of 
  many 
  

   small 
  libraries 
  and 
  individual 
  workers. 
  It 
  was 
  originally 
  intended 
  

   to 
  make 
  the 
  several 
  volumes 
  yearbooks 
  of 
  their 
  respective 
  fields, 
  and 
  

   much 
  of 
  the 
  value 
  and 
  use 
  of 
  the 
  work 
  was 
  lost 
  owing 
  to 
  the 
  fact 
  

   that 
  many 
  of 
  the 
  volumes 
  were 
  delayed 
  in 
  their 
  publication. 
  This 
  

   vital 
  defect 
  may 
  be 
  remedied 
  by 
  having 
  editing 
  and 
  publishing 
  done 
  

   by 
  the 
  same 
  organization. 
  To 
  accomplish 
  this, 
  it 
  will 
  be 
  necessary 
  

   to 
  own 
  a 
  printing 
  plant 
  designed 
  and 
  equipped 
  solely 
  for 
  this 
  pur- 
  

   pose. 
  This 
  will 
  make 
  possible 
  continuous 
  and 
  prompt 
  printing 
  at 
  

   a 
  minimum 
  cost 
  and 
  so 
  reduce 
  the 
  cost 
  that 
  it 
  will 
  be 
  possible 
  to 
  

   offer 
  the 
  catalogue 
  to 
  subscribers 
  for 
  $50 
  per 
  set 
  instead 
  of 
  $85, 
  if 
  

   an 
  edition 
  of 
  1,000 
  sets 
  can 
  be 
  sold. 
  

  

  Estimates 
  of 
  the 
  cost 
  of 
  equipping 
  and 
  operating 
  a 
  suitable 
  print- 
  

   ing 
  plant 
  have 
  been 
  made 
  by 
  several 
  printers 
  and 
  publishers 
  in 
  this 
  

   country 
  and 
  by 
  the 
  two 
  leading 
  manufacturers 
  of 
  typesetting 
  ma- 
  

   chines. 
  These 
  estimates 
  were 
  almost 
  identical, 
  and 
  from 
  them 
  it 
  

   appears 
  that 
  a 
  suitably 
  equipped 
  plant 
  can 
  be 
  installed 
  for 
  less 
  than 
  

   $30,000, 
  in 
  which, 
  when 
  properly 
  manned, 
  a 
  catalogue 
  aggregating 
  

   10,000 
  pages 
  a 
  year 
  can 
  be 
  published 
  for 
  $17,500 
  in 
  an 
  edition 
  of 
  

   1,000. 
  This 
  sum 
  includes 
  cost 
  of 
  labor, 
  paper, 
  repairs, 
  and 
  inci- 
  

   dentals. 
  To 
  this 
  sum 
  must 
  be 
  added 
  $15,000 
  for 
  the 
  annual 
  expenses 
  

   of 
  the 
  central 
  bureau 
  for 
  one 
  year 
  with 
  which 
  to 
  pay 
  rent 
  and 
  the 
  

   executive 
  and 
  editorial 
  staffs 
  and, 
  say 
  $12,500 
  as 
  a 
  liberal 
  reserve 
  to 
  

   meet 
  incidental 
  and 
  unforeseen 
  expenses 
  which 
  always 
  occur 
  in 
  be- 
  

   ginning 
  any 
  new 
  enterprise. 
  It 
  thus 
  appears 
  that 
  the 
  money 
  needed 
  

   is 
  — 
  

  

  For 
  installing 
  and 
  equipping 
  the 
  printing 
  plant 
  $30, 
  000 
  

  

  Expenses 
  for 
  printing 
  and 
  publishing 
  for 
  one 
  year 
  $17, 
  500 
  

  

  Maintenance 
  of 
  central 
  bureau 
  for 
  one 
  year 
  15, 
  000 
  

  

  Allowance 
  for 
  unforeseen 
  incidentals 
  12, 
  500 
  

  

  45,000 
  

  

  Total 
  capital 
  needed 
  for 
  first 
  year 
  75, 
  000 
  

  

  After 
  the 
  first 
  year, 
  to 
  continue 
  the 
  work 
  would 
  cost 
  approximately 
  

   $35,000 
  per 
  year, 
  leaving 
  a 
  margin 
  of 
  $15,000 
  per 
  year 
  between 
  the 
  

   cost 
  of 
  production 
  and 
  the 
  estimated 
  receipts 
  if 
  the 
  total 
  edition 
  of 
  

   1,000 
  copies 
  can 
  be 
  sold. 
  This 
  amount, 
  together 
  with 
  sums 
  derived 
  

   from 
  the 
  first 
  year 
  sales 
  already 
  included 
  in 
  the 
  estimates, 
  could 
  be 
  

   made 
  a 
  sinking 
  fund 
  with 
  which 
  to 
  repay 
  donors. 
  

  

  Should 
  publication 
  be 
  resumed 
  it 
  is 
  expected 
  that 
  a 
  demand 
  for 
  the 
  

   first 
  14 
  annual 
  issues 
  will 
  arise, 
  and 
  as 
  there 
  is 
  a 
  large 
  supply 
  of 
  

   them 
  now 
  at 
  the 
  central 
  bureau, 
  money 
  received 
  from 
  this 
  source 
  

  

  