made as rapidly as possible at the same rate of interest, this fund 

 ultimately will be in no wise impaired. 



Earnest effort has been constantly made to raise funds during the year. 

 Numerous letters have been written to effect sales of Transactions and to 

 secure new members, and some success has resulted. Also a circular was 

 addressed to the members on June 20, 1921, soliciting contributions. 

 Another circular was mailed directing attention to the prize contest. 



It is suggested that for at least a year or two the annual dues for 

 regular members be increased from $2.00 to $3.00; of state commissions 

 from $10.00 to $25.00; and life members from $25.00 to $50.00. Also dues 

 of fish and game clubs and of dealers might be increased from $5.00 to 

 $10.00. One of Qur enthusiastic members. Dr. W. P. Manton, of Detroit, 

 suggests an increase in dues to $5.00 or even $10.00, and that there be a 

 diffei-ence in the membership created, those who prefer to pay $5.00 to be 

 designated as Members, and those paying $10.00 designated Fellows, 

 privileges being the same in either class. This is a valuable and timely 

 suggestion. 



The present membership of the Society is as follows : Honorary, 66 ; 

 corresponding, 11 ; patrons. 53 ; active, 502 ; total, 632. 



Ward T. Bowee, 



Executive Secretary. 



The report of the Executive Secretary was adopted. 



Report of the Treasurer. 



Boston, Mass., September 3, 1921. 

 TO THE AMERICAN FISHERIES SOCIETY: 



Herewith is my annual report as Treasurer from the meeting in 

 September, 1920, to August 10, 1921. 



This report presents the anomaly of an organization which, if it is 

 to be square with the outside world, must go in debt to itself. The imme- 

 diate cause is that this year bills have come in for printing the Transac- 

 tions for two years ; that for the 1920 meeting at Ottawa was presented 

 promptly on publication of the volume, while the bill for the 1919 meeting 

 at Louisville did not come in until June of this year. A further cause is 

 that the 1920 volume was much larger than any report in recent years and 

 costs of printing were unusually high. 



If these two bills, as well as bills for running expenses, were to be paid, 

 as they naturally should be, it would leave the treasury more than bank- 

 rupt. In order to pay the bill the Treasurer, with the advice and con- 

 sent of the President and Executive Secretary and other oflScials, decided 

 that the only avenue open was to draw temporarily upon the Permanent 

 Fund. This was done. Such action was not supported by the Constitution, 

 but it was felt that good judgment was used and that the action would 

 have your hearty endorsement. It is proposed to reimburse the Permanent 

 Fund with interest, so that eventually the fund will once more be intact. 



Some comment may be made upon the apparently large bill for print- 

 ing the Transactions of the Fiftieth Anniversary Meeting at Ottawa, 

 Canada, but I am confident that consideration of the articles therein con- 



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