secretary's report 561 



The bills to regular subscribers for volume 17 have not been sent, and 

 the above table includes only advance payments. In another year the 

 total receipts from the sale of the Bulletin will considerably exceed 

 $10,000. 



The publication cost of volumes 1-16 is $30,629.55, the average cost 

 being $1,914.35. This does not include the expense of distribution. 

 The receipts to date from the sale of the same volumes are $9,382.34, or 

 an average of $586.40 per volume. The receipts from sale of these vol- 

 umes approach one-third the cost of publication; but for the past six 

 shears the annual receipts have averaged $727.05, which is considerably 

 more than one-third the expense of publication. The present income 

 from sales of the Bulletin and from interest on funds, taken together, 

 amounts to nearly 70 per cent, or more than two-thirds of the cost of the 

 Bulletin. This would seem to be good financing for a society of small 

 membership, depending on moderate dues for its income. 



Exchanges. — Three addresses have been added to the list of ex- 

 changes — one in Mexico, one in Vienna, and one in Manila. The full 

 list is given with the list of Library accessions, at the close of each volume 

 of the Bulletin. 



Expenses. — The following table gives the cost of administration and of 

 Bulletin distribution during the past year: 



EXPENDITURE OF SECRETARY'S OFFICE DURING THE FISCAL YEAR ENDING NOVEMBER 



30, 1906 



Account of Administration 



Postage and telegrams $27 90 



Expressage 6 36 



Printing (including stationery) 109 66 



Meetings (expenses of Cordilleran Section) 14 00 



Total $157 92 



Account of Bulletin 



Postage $81 40 



Expressage and freight 109 86 



Wrapping material 4 13 



Addressograph links 1 91 



Binding three copies of volume 15 3 00 



Printing 3 25 



Collection of checks 3 50 



Total 207 05 



Total expenses for the year $364 97 



