treasurer's report 499 



Account of Bulletin 



Postage $69 00 



Expressage and freight 74 86 



Wrapping material . ... 40 



Collecting of checks 4 40 



Total 148 66 



Total expenses for the year $803 46 



Respectfully submitted. 



H. L. Faihchild, 

 Rochester, X. Y., December 20, 1902. Secretary. 



Treasurer's Report 



To the Council of the Geological Society of America : 



The Treasurer herewith submits his annual report for the year ending 

 December 1, 1902, along with other statements of general interest. 



One Fellow has been dropped from the roll for non-payment of dues, 

 while only eight (8) are delinquent for two years and eighteen (18) for 

 one year. This is the smallest delinquent list in the Society's history. 



Of the eleven (11) Fellows elected at the June meeting in Pittsburg, 

 five (5), viz., K R. Buckley, W. S. T. Smith, W. C. Mendenhall, George D. 

 Louderback, and A. W. G. Wilson, have been enrolled for life by the 

 payment of $100 commutation fee, thus increasing the entire number of 

 Life Commutations to fifty-eight (58). 



The price of first-class investment securities has ruled so high during 

 the year that the committee appointed at 3^our last meeting to secure 

 additional permanent investments for the publication fund has deemed 

 it unadvisable to purchase. Hence the funds ;that would have been 

 invested have remained on deposit with the Security Trust Compan}^ of 

 Rochester, New York, where the Society gets four (4) per cent interest 

 on monthly balances, a rate higher by more than 1 per cent than could 

 have been secured from the purchase of government bonds or other high- 

 class securities. 



The interest item of $151.83 has accrued from this source. 



The number (15) of uninvested commutation fees now amounts to 

 $1,500, and some action should betaken to invest this sum for the publi- 

 cation fund during the coming year. 



The amount of invested funds is the same as last year, $4,300. 



The Society has been receiving dividends at the rate of 6 per cent on 

 the ten (10) shares of stock owned in the Iowa Apartment House Com- 

 pany of Washington, D. C, and the Treasurer thinks it would have been 

 wise had more of this stock been purchased, as recommended in his last 

 report. 



