NINETEENTH ANNUAL REPORT 97 



pension plan, and the data gathered was utilized by the Execu- 

 tive Committee and the Actuary employed by the Society. 



The new position of Stock Accountant, which was first pro- 

 vided for in the maintenance appropriation for 1914, was filled 

 on the first of January by Mr. William Mitchell. Mr. Mitchell's 

 acquaintance with the park organization and its methods was 

 of great assistance in getting the system of Stock Accounting 

 under way without great difficulty or delay. 



Accounts and Audit. — The financial transactions with the 

 various funds of the Society for the year 1914 as set forth by 

 the books and vouchers kept in the Chief Clerk's office under- 

 went the usual examination and audit by the Society's certified 

 accountants. The Treasurer's statements prepared therefrom 

 and the Auditor's certification covering same, appear elsewhere 

 in full. In order to prevent any delay in the preparation and 

 printing of the Annual Report through the time required for the 

 audit of accounts, arrangements were made to have the books 

 examined and checked quarterly. In this way it will be possible 

 to have the various annual statements and a certificate ready 

 for printing by the third week in January. The Privilege Ac- 

 counts were checked at the same time, and in the same man- 

 ner, and a balance sheet covering them was submitted to the 

 Society's Audit Committee at the close of the year. 



Several new accounts were opened during the year, among 

 them the Carnegie Pension Fund, covering Mr. Carnegie's en- 

 dowment for pension purposes; the Pension Fund Income Ac- 

 count, for handling of contributions of the Society and its em- 

 ployees, for pensions ; and the Improvement and Repair Account, 

 to which Park Gate Receipts are transferred and disbursed in 

 Improvement and Repair work at the Park as authorized by the 

 Executive Committee. 



Privileges. — While the business of the Privilege Depart- 

 ment has shown some falling off in volume during the last half 

 of the past year, and there has been a shrinkage in net profits, 

 the reduction is due to the unusual conditions that have affected 

 all lines of business during that period. 



Under ordinary conditions, a normal increase would have 

 been made corresponding with the increase in attendance. 



Privilege Building. — The difficulties in connection with the 

 execution of the contract for the construction of this building 

 have been referred to in previous reports. This case has fur- 



