REPORT OF 

 THE PENSION BOARD 



TO THE BOARD OF MANAGERS. 



THE personnel of the Pension Board for 1921 remained the 

 same as that of the previous year with the exception of 

 the appointment of Mr. W. Osgood Field in place of Mr. Wm. 

 Woodward, and Dr. W. Reid Blair in place of Mr. R. L. Ditmars. 



Mr. Wm. Pierson Hamilton continued as Chairman and 

 Mr. H. W. Merkel as Secretary, Mr. H. R. Mitchell as Assistant 

 Treasurer, and with Mr. Percy R. Pyne, Dr. Lewis R. Morris, 

 Dr. Geo. Bird Grinnell, Dr. W. Reid Blair, Mr. W. Osgood Field 

 and Dr. Chas. H. Townsend constituted the Board. 



The details of bookkeeping and pension deductions con- 

 tinued in charge of Mr. W. I. Mitchell. 



The meetings of the Pension Board were held at the office 

 of Mr. Wm. Pierson Hamilton, at 23 Wall St., who extended to 

 the Board the same courtesies in the use of hie office as in pre- 

 vious years. 



Despite the increasing number of pensioners, the Board is 

 able to report that the Pension Fund Income Account continues 

 to increase, the funds available at the close of the year being 

 $77,888.99 as against $67,464.39, at the end of 1920; an increase 

 of $10,424.60. Again, during the past year, the assessment of 

 2 per cent of the salaries of the members of the Pension Fund 

 has been more than sufficient to cover the pension roll. 



There were at the end of the year thirteen pensioners on 

 the roll, requiring an annual expenditure of $4,310.64. 



Four pensions were granted during the year to the follow- 

 ing persons: 



Josephine De Nyse, widow of W. I. De Nyse. .$28.47 per mo. 

 Mrs. Nellie McNulta, incapacitated for service. 25.00 per mo. 

 Wm. H. Hollingen, incapacitated for service. . 28.50 per mo. 

 Henry F. Barlach, incapacitated for service. . 33.35 per mo. 



