To the Officers and Members of the Institute:
Gentlemen.—I have the honor to submit the following financial report for the year ending December 31, 1915 :
Itemized Cash Account
Receipts for the Year 1915
Items | First Quarter | Second Quarter | Third Quarter | Fourth 1 Quarter | Totals |
Dues.................... | $1,871 95 | $1,108 32 | $333 05 | $341 35 | $3,654 67 |
Subscriptions.......... | 470 67 | 293 07 | 221 07 | 385 05 | 1,369 86 |
Extra Publications..... | 12,636 25 | 8,221 93 | 3,321 47 | 8,167 25 | 32,346 90 |
Proceedings............. | 17 65 | 38 25 | 28 81 | 83 33 | 168 04 |
Advertisements ...... | 358 50 | 73 30 | 364 59 | 49 87 | 846 26 |
Interest on money in- |
|
|
|
|
|
vested .................. | 647 SO | 650 08 | 692 50 | 768 50 | 2,758 58 |
Binding................. | 16 20 | 19 90 | 17 00 | 11 50 | 04 60 |
Postage................ | 99 19 | 114 96 | 93 24 | 130 48 | 437 87 |
Credits................... | 10 29 | 10 21 | 7 10 | 4 40 | 32 00 |
Purchased books ..... | 39 00 | 94 66 | 89 77 | 106 17 | 329 60 |
Sundries ............... | 2 12 | 22 | 431 69 | 510 67 | 944 70 |
S. P. Essay check-Lip- |
|
|
|
|
|
pincott .................. | ........ | ........... | .............. | 1,000 00 | 1, 000 00 |
Life membership fees | 30 00 | 30 00 | 30 00 | 30 00 | 120 00 |
Totals ................... | $16,199 32 | $10,654 90 | $5,630 29$ | $11,588 57 | $44,073 08 |
Expenditures During the Year 1915
Items | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | Totals |
Printing and binding Proceedings ......... | $2,220 65 | $1,324 14 | $1,321 17 | $2,739 70 | $7,605 66 |
Printing and binding extra publications.. | 5.439 66 | 5,354 $3 | 2,283 35 | 4,186 27 | 17,264 11 |
Salaries ................ | 1,005 00 | 1,035 00 | 1,035 00 | 1,035 00 | 4,110 00 |
Contributors .......... | 495 00 | 659 50 | 371 00 | 922 00 | 2,447 50 |
Authors of hooks...... | 3,646 40 | 1,121 40 | 212 00 | 1,082 80 | 6,062 60 |
Postage and telegrams.............. | 218 83 | 314 79 | 228 69 | 214 27 | 976 58 |
Expressage ........... | 28 89 | 7 11 | 7 41 | 57 67 | 101 08 |
Board meetings....... | 84 60 | 71 40 |
| 66 40 | 222 40 |
Office expense ........ | 40 50 | 150 59 | 2 15 | 3 62 | 196 26 |
Stationery ............. | 62 15 | 183 20 | 17 93 | 38 35 | 301 63 |
Purchase of books..... | 301 67 | 949 00 | 109 80 | 664 92 | 2,025 39 |
Advertising ........... | 32 40 | 13 05 | 8 70 | 62 75 | 116 90 |
Prize Essay award..... | 230 00 | 5 00 | .......... | ............. | 235 00 |
Honorable mention award................... | 330 00 | .......... | ........... | ............... | 330 OO |
Sundries .............. | 5 32 | 10 06 | 27 00 | 5 19 | 47 57 |
Checks deposited with proposals....... | ............ | ............ | 425 00 | 589 00 | 1,014 00 |
Insurance on property | ............. | ........... | ............ | 80 00 | 80 00 |
Totals ................. | $14,141 07 | $11,199 07 | $6,049 20 | $11,747 34 | $43,136 68 |
Summary
Assets
Balance unexpended January 1, 1915........................................................ | $13,642.27 |
Total receipts for the year 1915............................................................... | 44,073.08 |
| $57,715-35 |
Total disbursements for the year 1915...................................................... | 43,136.68 |
|
|
Balance on hand January 1, 1916............................................................ | *$14,578.67 |
Bills receivable for back dues.................................................................. | 1,260.20 |
“ “ “ subscriptions............................................................................. | 56.20 |
“ “ “ advertisements......................................................................... | 251.32 |
“ “ “ extra publications....................................................................... | 1,494.53 |
Certified checks outstanding................................................................ | 215.00 |
Value of back numbers of Proceedings................................................... | 200.00 |
“ “ Institute property (office)............................................................... | 300.00 |
“ “ extra publications at cost of printing................................................. | 13,161.78 |
| $31,517.70 |
| 36 |
| 84501 |
Liabilitles
Lord Baltimore Press.......................................................................... | $5,608.85 |
Royalties due authors of books............................................................ | 1,482.40 |
Special Prize Essay award—Lippincott.................................................... | 1,000.00 |
Adams Express Co............................................................................. | .64 |
Postal Telegraph Co........................................................................... | .21 |
Montague Mailing Machinery Co............................................................. | 49.00 |
George W. Jones................................................................................ | 4.20 |
Chesapeake & Potomac Telephone Co..................................................... | .75 |
Wells Fargo Express Co....................................................................... | 8.07 |
Western Union Telegraph Co................................................................. | 1.68 |
Spon & Chamberlain............................................................................ | 2.30 |
Houghton, Mifflin Co............................................................................ | 1.98 |
Macmillan Co...................................................................................... | .83 |
| 8160.91 |
| $23,356.79 |
Seamen’s Bank for Savings.................................................................... | $3,000.00 |
Rhode Island Hospital Trust Co............................................................... | 3432.14 |
Society for Savings, Hartford, Conn......................................................... | 3,482.36 |
Farmer’s National Bank......................................................................... | 4,664.17 |
| $14,578.67 |
Securities (Bonds) December 31, 1915
Southern Railway 5 per cent Registered Gold............................................ | $6,000.00 |
Washington Railway & Electric Co., 4 per cent........................................... | 2,000.00 |
Northern Pacific and Great Northern Co., 4 per cent................................... | 18,000.00 |
Potomac Electric Power Co., 5 per cent.................................................... | 2,000.00 |
Northern Pacific 3 per cent................................................................... | 12,000.00 |
Baltimore & Ohio (*$7,233.14 of these bonds is the Reserve Fund †).............. | 9,000.00 |
New York City, Registered 4½ per cent.................................................... | 7,000.00 |
| $56,000.00
|
B. C. Allen,
Lieut. Commander, U. S. Navy,
Secretary-Treasurer.
Audited and found correct.
H. H. Christy, Commander, U. S. Navy.
Richard Wainwrigiit Jr., Lieut. Commander, U. S. Navy.
R. S. Edwards, Lieutenant, U. S. Navy.
* The balance ($14,578.67) unexpended January 1, 1916, is distributed as follows:
† Reserve Fund.—This, by the Constitution, is composed of $3,050.00 originally credited to it, together with all life fees which have been or may hereafter be received, and the principal of this fund shall be held in perpetuity to guarantee the future interest of the life members (*7,233.14).