June 30, 1905.] 



SCIENCE. 



971 



therefrom, shall be submitted to the Cor- 

 poration concerned and approved by it be- 

 fore being finally adopted, it being under- 

 stood that students' fees shall be deemed 

 to be furnished by the Institute, and that 

 no change shall be made in those fees with- 

 out its approval. 



The said Executive Committee shall keep 

 records of its proceedings, and shall make 

 reports to the Corporation of the Univer- 

 sity and the Corporation of the Institute 

 annually, and at such other times as either 

 Corporation may request. 



IV. 



The President of the Institute for the 

 time being shall be the President of the 

 said Executive Committee, and shall pre- 

 side at its meetings, when present. His 

 salary, as fixed by the Corporation of the 

 Institute, shall be paid from the funds fur- 

 nished by the Institute. He shall be the 

 Chairman of the Faculty, shall have the 

 superintendence of the several depart- 

 ments, and shall act as general executive 

 and administrative officer, subject to the 

 direction and control of said Executive 

 Committee. He shall annually make a re- 

 port to the Corporation of the University 

 and to the Corporation of the Institute. 

 Whenever a person shall vacate the ofSce 

 of President of the Institute, he shall there- 

 upon cease to be a member of the said 

 Executive Committee. 



V. 



The Treasurer of the Massachusetts In- 

 stitute of Technology shall be ex officio the 

 Treasurer of the said Executive Committee. 

 He shall, as Treasurer of the said Execu- 

 tive Committee, have charge of the funds 

 put at the disposal of said committee, shall 

 make such payments as the committee may 

 authorize, shall keep accurate accounts of 

 all money received and expended, and shall 

 make report of his doings annually, or 

 oftener if required, to the said committee, 



and to the Corporation of the University 

 and to the Corporation of the Institute. 



VI. 



The Faculty shall consist of all the pres- 

 ent professors, associate professors, and as- 

 sistant professors of the Institute, and all 

 professors, associate professors, and assist- 

 ant professors of the University who now 

 give courses of instruction leading to de- 

 grees in industrial science, and such officers 

 hereafter appointed as said Executive Com- 

 mittee may designate. The present pro- 

 fessors, associate professors, and assistant 

 professors of the University as aforesaid 

 shall not be removed nor have their present 

 salaries reduced without the consent of the 

 Corporation of the University. 



Subject to the supervision and direction 

 of the said Executive Committee the Fac- 

 ulty shall have charge of instruction and 

 discipline. 



VII. 



Subject to the reservations hereinafter 

 set forth the University shall place at the 

 disposal of said Executive Committee, as 

 above provided, the net income of all funds 

 which are now credited on its books to the 

 credit of the Lawrence Scientific School, 

 also the use of all machinery, instruments, 

 and equipment which the University holds, 

 and the income of all property which it 

 may hereafter acquire for the promotion of 

 instruction in industrial science, and also 

 three fifths, but no more, of the net income 

 which may accrue from the bequest and 

 devise of the late Gordon McKay. 



VIII. 



Subject to the reservations herein set 

 forth, the Institute shall place at the dis- 

 posal of the said Executive Committee the 

 net income of all funds and the use of all 

 property and equipment which the Insti- 

 tute may hold for the promotion of instruc- 

 tion in industrial science, reserving only 



