Papers and Proceedings of the Thirty-Fifth General Meeting of the American Library Association / Held at Kaaterskill, N. Y., June 23-28, 1913

by Unknown

REPORT OF THE TRUSTEES OF THE CARNEGIE AND ENDOWMENT FUNDS

To the President and Members of the American Library Association:

The Trustees of the Endowment Fund of the American Library Association beg leave to submit the following statement of the accounts of their trust—the Carnegie and General Funds—for the fiscal year ending January 15, 1913.

There has been no change in the investments, and all interest has been promptly paid. The Trustees are pleased to call attention to the credit to the General Endowment Fund of nine life memberships, and would recommend that more of such memberships be taken as they are about the only source of addition to that Fund.

On January 31, 1913, the usual audit of the investments and accounts of the trust was made by Mr. E. H. Anderson, of the New York public library at the request of the chairman of the Finance committee of the Association. As evidence of the audit, Mr. Anderson furnished the Trustees with the following copy of his report made to the Finance committee:

Feb. 1, 1913.

My dear Mr. Andrews:

Yesterday, January 31st, I went to the vaults of the Union Trust Company at Fifth avenue and Thirty-eighth street, this city, and with Mr. Appleton and Mr. Kimball, trustees of the endowment fund of the American Library Association, checked up the bonds now in their custody. I enclose herewith their typewritten statement concerning the funds in their hands, and I certify to the correctness of the figures as to the bonds on hand. These I have checked in black ink after a personal count of them at the vaults aforesaid. At their par value they amount to $102,500 for the Carnegie Fund, and $7,000 for the general endowment fund.

I have not examined the bank book of the trustees nor the vouchers for the amounts transmitted to Mr. Roden, the treasurer. Mr. Roden's records should verify the amounts transmitted to the treasurer. If you think it worth while I can examine the bank book of the trustees, but personally I do not think it necessary. If you feel that it should be done, however, return the enclosed typewritten statement for comparison with the bank book. Mr. Roden will also be able to check the receipts for life members. I think Mr. Appleton said that two more had been received since January 15th.

I hereby certify that to the best of my knowledge and belief all of the accounts on the typewritten sheets enclosed herewith are correct.

Very sincerely yours,

(Signed) E. H. ANDERSON.
Respectfully submitted,
W. W. APPLETON,
W. C. KIMBALL,
W. T. PORTER,
Trustees Endowment Fund A. L. A.

May 1, 1913.