To the President and Members of the American Library Association:
The Trustees of the Endowment Funds in presenting their annual report
for the year ending January 15, 1912, desire to say that there has been
no change in the securities held by the Board. The market price of most
of them remaining about the same, changes could not be made to the
advantage and desired betterment of the fund.
The Trustees are pleased to state that all interest has been promptly
paid.
Mr. E. H. Anderson of the New York public library was again deputed
to audit the accounts of the Board and inspect the securities, and he
gives to the Trustees, as the result of that examination, the following
letter:
Dear Mr. Appleton:
Enclosed herewith are the vouchers from Mr. Roden, Treasurer of
the American Library Association, and the receipt for the rent of
the safety deposit box in the vaults of the Union Trust Company.
I have written the chairman of the Finance Committee that I have
examined these vouchers and found them in accordance with your
type written statement.
The four type written sheets which you gave me yesterday I have
checked as correct as to the bonds in your custody, as to the
vouchers referred to above, and as to the cash balance on hand. I
have certified to Mr. Andrews, the chairman of the Committee on
Finance, that to the best of my knowledge and belief the reports
contained on these sheets are correct.
Very sincerely,
(Signed) E. H. ANDERSON.
The General Endowment Fund has been increased during the year by the
taking of seven life memberships by the persons named, adding to the
Fund, $175.00.
Respectfully submitted,
W. C. KIMBALL,
WM. W. APPLETON,
W. T. PORTER.
Trustees of A. L. A. Endowment Fund.