Liberty Loan Subscriptions 39 



WELFARE OF EMPLOYEES 



The Fifth Annual Report of the Pension Board has appeared 

 and bears testimony to the efficient management of the Pension 

 Fund under the Chairmanship of Mr. Felix M. Warburg. 



The operation of the pension system is proving very satis- 

 factory and is on a financially sound basis. There are now 256 

 subscribers to this fund. The invested funds amount to 

 $76,000, derived from the personal contributions of em- 

 ployees and Trustees since the establishment of the fund in 

 1913. The receipts through contributions of employees and 

 the Board of Trustees for 1917 amounted to $20,361.38. The 

 disbursements during the year in pensions and gratuities 

 amounted to $5,434.66. 



The requirement that all employees shall undergo physical 

 examination before being accepted as permanent was under- 

 taken primarily to safeguard the funds and has had an unfore- 

 seen beneficial result as it has brought to the attention of 

 individual employees slight physical defects or tendencies, 

 which, when treated under the advice of the medical examiner 

 of the Board, have been either remedied or controlled. 



Further steps have been taken in providing for the well-being 

 of employees. Through friends of the Museum, endowed beds 

 in the Mount Sinai and Presbyterian Hospitals have been 

 placed at the disposition of the Pension Board for occupancy 

 by employees in need of surgical or medical attention. 



In June the President appointed Mr. Felix M. Warburg, Mr. 

 Adrian Iselin, Mr. Frederick H. Smyth, and Mr. George N. 

 Pindar, a Special Committee to formulate a plan 

 Liberty Loan w hereby all the employees might have an oppor- 

 tunity to subscribe to the Li6erty Loans. Under 

 the plan evolved, each employee was permitted to subscribe for 

 as many bonds as he wished, up to the amount of his accumu- 

 lated contributions to the Pension Fund, and to pay for them 

 by having $2.50 a month on each $50 bond deducted from his 



