To the Officers and Members of the Institute:
Gentlemen:—I have the honor to submit the following report for the year ending December 31, 1901 :
Itemized Cash Statement.
[TABLE]
Expenditures During the Year 1901.
[TABLE]
Summary.
Balance of cash unexpended January 1, 1901................ $3713 54
Total receipts for 1901................................................. 7663 33
Total available cash, 1901........................................ $11,376 79
Total expenditures, 1901............................................. 6135 28
Cash unexpended January 1, 1902............................... $5241 54
Held to credit of reserve fund.......................................... 389 14
True balance January 1, 1902...................................... $4852 37
Bills receivable for dues, 1901........................................ 837 85
“ “ “ back dues............................................ 808 00
“ “ “ binding.................................................. 27 00
“ “ “ subscriptions....................................... 130 49
“ “ “ sales.................................................... 145 82
“ “ “ advertisements.,.................................. 325 75
Value of back numbers, estimated.................................. 925 00
“ “ Institute property............................................... 180 00
“ “ extra publications............................................. 2300 00
10,532 19
Liabilities for publications other than Proceedings............ 411 54
Total assets exclusive of reserve fund....................... $10,120 68
Reserve Fund.
United States 4 per cent consols, registered................. $900 00
District of Columbia 3.65 per cent registered................. 2000 00
“ “ coupon bonds........................................ 650 00
$3550 00
Cash in bank uninvested............................................... 389 14
Total....................................................................... $3939 14
Number of paper bound copies of the Proceedings on hand at the
.................................................... end of the year 9908
Number of cloth bound copies........................................... 1554
................................................................ Total 11462
Very respectfully,
L. S. Van Duzer, Lieutenant, U. S. Navy,
Secretary and Treasurer.