REPORT OF THE TRUSTEES. 9 



warded to the various foreign societies and kindred domestic 

 associations with whom the Institute have arranged for niutual 

 exchanges. 



The Trustees regret that they are unable to show the same 

 improvement in the financial affairs of the Institute which they 

 were able to present in their last Annual Report. It will be seen 

 by the Report of the Finance Commitlee that while the expenses 

 have been materially lessened during the year, the receipts for 

 rents have fallen off nearly or quite one half. 



The present unsettled state of our country has affected the 

 operations of this Institute as well as of kindred associations 

 throughout our land. But it is confidently hoped that when 

 prosperity again prevails, that the Institute will feel its genial 

 influence and again take its position among the most energetic 

 and enterprising of the Industrial institutions of the country. 

 The oldest of its kind in the United States, and the one from 

 which has sprung all the Farmers' Clubs, and most of the Mechan- 

 ical associations of the country, it will still seek to maintain its 

 pre-eminence as the pioneer in all advance movements having for 

 their object the general improvement of the Mechanic Arts, and 

 the Agricultural developments of the Nation. 

 New York, February 5, 1862. 



WILLIAM HALL, 

 JOHN GRAY, 

 D. S. GREGORY, 

 WILLIAM HIBBARD, 

 THOMAS McELRATH, 

 BENEDICT LEWIS, Jr., 



Tiustees. 



