APPENDICES 357 



SEC. 7. Medals and prizes may be established, and the means of bestowing them 

 accepted by the academy upon the recommendation of the council, by whom all 

 the necessary arrangements for their establishment and award shall be made. 



Bequests and trusts having for their object the advancement of science may also 

 be accepted and administered by the academy. 



ARTICLE VI. OF THE PROPERTY OF THE ACADEMY 



SEC. I . All investments shall be made by the treasurer in the corporate name of 

 the academy with the approval of a finance committee of three members, to be 

 appointed annually by the president, of which the treasurer shall be one. Invest- 

 ments shall be made in bonds of the United States, in state bonds, or bonds or 

 notes secured by first mortgages on real estate, in investments legal for savings 

 banks under the laws of Massachusetts or New York, or in other bonds recom- 

 mended to the treasurer by the fiscal advisers of the academy. 



The council shall, at its annual meeting in each year, designate one bank or 

 trust company in Washington, D. C., and one in New York city, to act, when 

 requested by the treasurer, as the fiscal advisers of the academy. 



The treasurer shall have the authority, with the approval of the finance com- 

 mittee, to change any investment held by him in the corporate name of the 

 academy. 



SEC. 2. No contract shall be binding upon the academy which has not been first 

 approved by the council. 



SEC. 3. The assessments required for the support of the academy shall be fixed 

 by the academy on the recommendation of the council. 



ARTICLE VII. OF ADDITIONS AND AMENDMENTS 



Additions and amendments to the constitution shall be made only at a stated 

 meeting of the academy. Notice of a proposition for such a change must be 

 given at a stated meeting, and shall be referred to the council, which may amend 

 the proposition, and shall report thereon to the academy. Its report shall be con- 

 sidered by the academy in committee of the whole for amendment. 



The proposition as amended, if adopted in committee of the whole, shall be 

 voted on at the next stated meeting, and if it receives two-thirds of the votes cast 

 it shall be declared adopted. 



Absent members may send their votes on pending changes in the constitution 

 to the home secretary in writing, and such votes shall be counted as if the members 

 were present. 



RULES 



I. In the absence of any officer a member shall be chosen to perform his duties 

 temporarily, by a plurality of viva voce votes, upon open nominations. 



II. On the first day of each stated session, immediately after calling the roll 

 of members, a recording secretary shall be elected, by a plurality of members pres- 

 ent, to assist the home secretary in keeping the records of the session. 



