To The Officers and Members of the Institute:
Gentlemen :—I have the honor to submit the following report for the year ending December 31, 1902.
Receipts During the Year 1903.
Items. | First | Second | Third | Fourth | Totals. |
Dues........................ | $270 00 | $239 25 | $1067 75 | $994 50 | $2571 50 |
Subscriptions............ | 249 84 | 283 36 | 170 48 | 161 28 | 864 96 |
Sale of proceedings... | 36 93 | 126 46 | 78 18 | 102 78 | 344 34 |
“ “ extra publications. | 521 28 | 792 71 | 139 23 | 4520 14 | 5973 36 |
Advertisements......... | 84 25 | 365 90 | 207 50 | 348 75 | 1006 40 |
Interest ................... | 36 50 | 168 11 | 45 50 | .... | 250 11 |
Binding..................... | 4 80 | 7 60 | 19 50 | 14 00 | 45 90 |
Postage..................... | 50 | 78 | .... | 1 30 | 2 58 |
Life members fee....... | 30 00 | 30 00 | .... | 60 00 | 120 00 |
Expressage............... | .... | 90 | .... | .... | 90 |
Premium on money order. | .... | 05 | .... | 01 | 06 |
Credits...................... | .... | .... | .... | 3 91 | 3 91 |
Totals.................... | $1234 09 | $2015 12 | $1728 14 | $6206 67 | $11,184 02 |
Expenditures During the Year 1902.
Items. | First Quarter. | Second Quarter. | Third Quarter. | Fourth Quarter. | Totals. |
Printing and binding proceedings | $551 93 | $623 98 | $683 94 | $1414 31 | $3274 16 |
Printing and binding extra publications | 570 99 | 740 81 | .... | 2793 66 | 4105 46 |
Salaries..................... | 345 00 | 345 00 | 345 00 | 420 00 | 1455 00 |
Expense of drill books.. . | .... | .... | 10 00 | 416 00 | 426 00 |
Postage.................... | 51 98 | 76 45 | 86 61 | 91 64 | 306 68 |
Expressage............... | 5 52 | 4 70 | 8 02 | 15 77 | 34 00 |
Cost of articles published. | 119 00 | 55 00 | 199 00 | 102 00 | 475 00 |
Purchase of text-books... | 3 02 | .... | 6 85 | .... | 9 87 |
Freight and hauling... | 5 12 | 4 47 | 14 25 | 8 26 | 32 10 |
Discount on checks... | 95 | 90 | 2 00 | 1 61 | 5 46 |
Stationery................. | 58 65 | 29 81 | 4 50 | 80 42 | 173 38 |
Office expense.......... | 4 00 | 6 10 | 22 10 | 32 89 | 65 09 |
Furniture.................. | 24 55 | 25 91 | 95 | 76 | 52 17 |
Telegrams................ | 1 35 | 1 00 | 75 | 1 85 | 4 95 |
Brassey’s annual....... | .... | 4 00 | .... | .... | 4 00 |
Check returned for endorsement | .... | 6 00 | .... | .... | 6 00 |
Purchase of back Nos. proceedings | .... | 6 50 | .... | .... | 6 50 |
Clerk’s business trip to Baltimore | .... | 2 00 | .... | 3 50 | 5 80 |
Commission to Advertising Agent | .... | 50 00 | 50 00 | .... | 100 |
Check voted clerk by Board of Control | .... | .... | 50 00 | .... | 50 00 |
Safe for office............ | .... | .... | 68 50 | .... | 68 50 |
Secretary and Treasurer’s trip to Baltimore | .... | .... | 2 00 | .... | 2 00 |
Rent of safe deposit box.. | .... | .... | 5 00 | .... | 5 00 |
Insurance ................ | .... | .... | 20 50 | .... | 20 50 |
Sub. Navy and Marine Corps Directory | .... | .... | .... | 5 00 | 5 00 |
Rebate...................... | .... | .... | .... | 3 25 | 3 25 |
Totals.................... | $1742 00 | $1982 03 | $1579 97 | $5390 72 | $10,695 38 |
Summary.
Balance of cash unexpended January 1, 1902, including $389.14 held
to credit of Reserve Fund............................................ $ 5,241 51
Total receipts for 1902......................................... 11,184 02
Total available cash, 1902................................... $16,425 53
Total expenditures, 1902..................................... 10,695 38
Cash unexpended January 1, 1903............................. $ 5,730 15
Held to credit of reserve fund.................................... 509 14
True balance January 1, 1903 .................................... $ 5,221 01
Bills receivable for dues 1902.................................... 733 62
“ “ “ back dues...................................... 566 65
“ “ binding.............................................. 21 80
“ “ “ subscriptions................................... 95 88
“ “ “ sales........................................... 8,441 41
“ “ “ advertisements.............................. 353 00
Value of back numbers, estimated.......................... 1,050 00
“ " Institute property....................................... 300 00
“ “ extra publications........................................ 2,893 27
$14,676 64
Liabilities for publications other than Proceedings..... 1,967 94
Total assets exclusive of reserve fund.................. $12,708 70
Reserve Fund.
United States 4 per cent consols, registered............... $ 900 00
District of Columbia 3.65 per cent registered.......... 2,000 00
“ “ coupon bonds ..................................... 650 00
$ 3,550 00
Cash in bank uninvested........................................... 509 14
Total........................................................................... $ 4,059 14
Very respectfully,
E. L. Beach, Lieutenant, U. S. Navy,
Secretary and Treasurer.