treasurer's report 517 



No permanent investments have been made during the year, owing to 

 the high price of all desirable securities, the Texas Pacific first mortgage 

 bonds, which were purchased last year at less than par, being now quoted 

 at 115 ; hence the surplus funds have been kept with the Security Trust 

 Company of Rochester, New York, where the Society realizes 4 per cent 

 on monthly balances, which is quite as much interest as could be secured 

 from first-class securities at present prices. 



The Treasurer will continue this polic}^ until there is some change in 

 the security market, unless instructed otherwise b} T Council. 



The interest item of $60.28 shows the income from this source, which 

 added to $273, the amount realized from the invested fund of $5,000, 

 makes $333.28, a very good addition to the Society's resources. 



The detailed financial operations of the treasury may be read in the 

 table on the preceding page. • 



This balance for the year, $3,030.02, is much larger than usual be- 

 cause of the delay in the publication of volume 10, and also because so 

 many Fellows have paid life commutations, which, for reasons already 

 given, have not yet been expended for permanent investments. 



Respectfully submitted. 



I. C. White, 



Morgantown. West Va., December 22, 1899. Treasurer. 



Editor's Repoet 



To the Council of the Geological Society of America: 



It is to be regretted that the final material for volume 10 was not 

 forthcoming in time to enable the Editor to complete the Bulletin and 

 present his report to the Council at the usual date in December. This 

 report, which is made at each winter meeting, is necessarily based on 

 the published volume. Owing to the delay in placing material in the 

 Editor's hands, volume 10 was not disposed of until January 19, 1900 5 

 three weeks after the Council meeting at which reports are submitted, 

 hence it was impossible to have the report ready at the proper time. A 

 little. promptness on the part of some of the publishing members would 

 have avoided this undesirable result. The Bulletin could have been 

 issued well within the publication year, and the persistent effort being 

 made by the officers of the Society to secure prompt printing of papers, 

 approved as. it is by the Society as a whole, ought to have the hearty 

 cooperation of individual members. 



Volume 10 consists of 534 pages of text and xii pages of preliminary 

 matter and is illustrated with 54 plates and 83 text figures. In pages 

 it compares favorably with any volume issued except numbers 2 and 5, 

 while in illustrations, both plate and text, it surpasses them all. In cost 



