500 



SCIENCE. 



[N. S. Vol XII. ISTo. 301. 



10. Decisions in regard to the awarding 

 of prizes are without appeal. It is for- 

 bidden to insert a difference of opinion in 

 the proces verbal, or to reveal it in any- 

 other manner. 



11. Corporations have the right to es- 

 tablish scientific institutions and other 

 establishments, in order to secure assistance 

 for the examination which must precede 

 the distribution of the prizes, and to serve, 

 from other points of view, the aim of the 

 endowment. These institutes and estab- 

 lishments, which form part of the endow- 

 ment, shall be called ' Nobel institutes.' 



12. Every Nobel institute is placed 

 under the direction of the body which 

 founded it. They are independent as re- 

 gards their exterior situation and their 

 finances ; consequently, their revenues can- 

 not be utilized by the corporations award- 

 ing the prizes, nor by any other institution 

 to cover the expenses of their private budg- 

 ets. Professors having a fixed salary in a 

 Nobel institute can not hold a like position 

 at the same time in any other institution, 

 unless by special authorization of the King. 

 Corporations may install Nobel institutes 

 on a common site, giving them a uniform 

 organization; they can attach foreigners, 

 men and women, to the institute. 



13. One-fourth of the revenues of the 

 principal fund, which each section disposes 

 of annually, is reserved. After the pay- 

 ment of the immediate expenses for the 

 distribution of the prizes, the rest of the 

 amount reserved is employed in defraying 

 the expenses of the Nobel institute in each 

 section. The balance, after paying the ex- 

 penses of the year, is set aside for the future 

 needs of the institute. 



MANAGEMENT OF THE ENDOWMENT FUND. 



The board of administration is composed 

 of five Swedish members, one of whom — 

 the president — is named by the King ; the 

 others are chosen by representatives of the 



corporations. The managing director is 

 chosen by the board from among its own 

 members. Members and substitutes are 

 elected for a term of two years, commencing 

 May 1st. The board of administration 

 manages the endowment fund and all 

 property common to the sections, pays the 

 prizes and the expenses attendant on their 

 distribution, the expenses of the Nobel in- 

 stitutes, engages all employees, determines 

 the amount of their appointments and of 

 their pensions ; is empowered to appoint 

 proxies, to prosecute and to answer, to 

 plead and to act in the name of the endow- 

 ment. The corporations awarding the 

 prizes appoint fifteen representatives for 

 two civil years. The Academy of Sciences 

 chooses six and designates four substitutes ; 

 the other corporations each appoint three, 

 with two substitutes. The representatives, 

 called together by the oldest representative 

 of the Academy of Sciences, elect one of 

 their number as president. Nine votes, at 

 least, are necessary to make a decision. A 

 corporation failing to send representatives 

 does not prevent the others from acting. 

 The management and accounts of the board 

 are examined every civil year by five ex- 

 aminers ; each corporation appoints one, the 

 King naming the fifth, who acts as presi- 

 dent. The report upon the management 

 must be given to the president before the 

 end of February. The examiners must pre- 

 sent their report to the representatives of 

 the corporations before April 1st. This re- 

 port, giving a resume of the employment of 

 the diiferent funds, will be published in the 

 newspapers. The failure of any corpora- 

 tion to appoint an examiner, or of an ex- 

 aminer to act, does not prevent the other 

 members from proceeding with the exami- 

 nation. Examiners, and also the head of 

 the Department of Public Instruction and 

 Worship, have free access to all books, 

 accounts and documents of the endow- 

 ment. 



