February 10, 1905.] 



SCIENCE. 



203 



Receipts. 



1903. 



October 31. Balance 



lQt6T6Sti ' 



U. S. steel Corporation. $500,000 



Atctiison, Topeka and 

 S. Fe Ry. Co 5,000 



N. Pacific Ry. Co 4,.500 



N. Pacific-Gt. Northern 2,500 



Lake Shore and Mich- 

 igan Southern 2,000 



Deposit U. S. Trust Co. 18,926 87 



Deposit Am. Sec. and 



Trust Co 77 39 



$533,004 26 



Sales of publications : 



Index Medicus 2,370 47 



Year Book 52 85 



Other publications 12 76 



2,436 07 



Revertments 329 33 



Marine Biol. Lab., Tortugas, Fla. : 

 A. G. Mayer 669 70 



Amount. 



8445,471 69 



536,439 36 

 981,911 05 



Disbursements. 



Investments : 



$50,000 N. Pacific Gt. Northern 



4 f> Joint Bonds g 46,500 



$50,000 N. Pacific Ry. Co. Prior 



L. Ry. and L. Grant 4's 



$50,000 Atchison, Topeka and S. 



Fe. Ry. Co. G. Mtg. 4's 



$50,000 Lake Shore and Mich. 



Southern 4 D. Bonds 



51 ,312 50 

 50,125 



48,222 22 



Large grants. . . 

 Minor grants . 

 Special grants. 



Publication 



49,848 46 

 187,634 53 

 29,749 20 



Administration . 



fU. 



3^Na 



S. Trust Co., N. Y. 461,902 46 

 Balance^; Nat'l City Bank, N. Y. 7,746 67 

 (.Am. Sec. and Trustee. 312 04 



Amount. 



$196,159 72 



267,232 19 

 11,590 82 



36,967 15 



511,949 88 



469,961 17 

 981,911 05 



REPORT OP EXECUTIVE COMMITTEE ON THE 

 WORK OF THE YEAR. 



The executive committee began consid- 

 eration of the various directions and au- 

 thorizations given by the board of trustees 

 immediately after the adjournment of the 

 board, December 8, 1903 ; also of matters 

 recommended by the committee and ap- 

 proved by the board. 



The work of the committee and its 

 recommendations for the fiscal year 1904— 

 1905 are shown in this report. 



During the fiscal year, the committee held 

 eight meetings. Its organization continued 

 the same as for the fiscal year 1902-1903. 

 Mr. Gilman acted as chairman and Mr. 

 Walcott as secretary. 



APPROPRIATIONS. 



At the annual meeting of the board, De- 

 cember 8, 1903, the following appropria- 

 tions were made for large projects: 



Tropical Pacific exploration *$40,000 



Department of Experimental Biology 70,000 



Department of Terrestrial Magnetism 20,000 



Trans-Caspian Expedition, archeological exploration 18,000 



Geophysical research 25,000 



Investigation of mineral fusion and solution 

 under pressure $50 ,012 



* It being impracticable to secure the services of 

 the person whom the executive committee expected 

 to take charge of this work, the project was 

 abandoned and the appropriation not drawn upon. 



Chas. D. Walcott, 



Secretary. 



Study of elasticity and plasticity of solid 

 bodies upon finite deformation 7,500 



Preparation of a bibliography of geophysics 5,000 



Department of Economics and Sociology 30,000 



Bureau of Historical Research 8,500 



$211,500 



REPORTS ON LARGE PROJECTS. 

 DEPARTMENT OF EXPERIMENTAL BIOLOGY. 



The subject of research in zoology was 

 before the executive committee at its earli- 

 est meetings, and was under consideration 

 for nearly two years before the specific 

 recommendations for any large projects 

 directly in charge of the Carnegie Institu- 

 tion were presented to the board of trus- 

 tees. In Year Book No. 1 the special ad- 

 visory committee on zoology made several 

 recommendations of a broad bearing, one 

 of them being that of establishing a per- 

 manent biological laboratory as a central 

 station for marine biology in general. In 

 the same Year Book there were printed 

 two schemes for the establishment of bio- 

 logical experiment stations for the study 

 of evolution— one by Dr. C. B. Davenport, 

 who favored Cold Spring Harbor, Long 

 Island, and a second by Professor Roswell 

 P. Johnson, who favored a protected ma- 

 rine shore near fresh-water ponds. The 

 executive committee consulted with many 

 experts and carefully investigated the feasi- 

 bility of making the Marine Biological 



