To the President and Trustees of The American Museum of 

 Natural History and to the Subscribers to the Fund: 



In accordance with the Rules and Regulations, I have the 

 honor to transmit to you herewith the Sixth Annual Report of 

 the activities of the Pension Board and of its financial opera- 

 tions for the fiscal year ending December 31, 1918. 



Felix M. Warburg, 



Chairman. 





February 1, 19 19 



219 



