REPORT OF FINANCE COMMITTEE.
To the American Library Association:
In accordance with the provisions of the constitution the finance committee submit the following report:
They have duly considered the probable income of the association for the current year and have estimated it at $19,450, and have approved appropriations made by the Executive Board to that amount. The details of the estimated income and of the appropriations are given in the January number of the Bulletin. The committee have also approved the appropriation to the use of the Publishing Board to any excess of sales over the amount estimated. The receipts and expenditures of the Publishing Board have been included in the figures given, so that they now exhibit the total financial resources and expenditures of the association.
On behalf of the committee the chairman has audited the accounts of the treasurer and of the secretary as assistant treasurer. He has found that the receipts as stated by the treasurer agree with the transfer checks from the assistant treasurer, and with the cash accounts of the latter. The expenditures as stated are accounted for by properly approved vouchers. The bank balance and petty cash, as stated, agree with the bank books and petty cash balances. The accounts of the assistant treasurer have been found correct as cash accounts.
On behalf of the committee Mr. E. H. Anderson has examined the accounts of the trustees for 1911, has checked the securities now in their custody, and certifies to the correctness of the figures, to the bonds on hand, and the balance in bank. He finds that at par value the bonds and securities amount to $102,500 for the Carnegie fund, and $7,000 for the Principal account.
He has examined the vouchers for the amounts transmitted to the treasurer and has compared the reports of the treasurer and trustees in regard to the number of new life memberships. He certifies that to the best of his knowledge and belief all of the accounts as submitted to him are correct.
All of which is respectfully submitted for the committee.
CLEMENT W. ANDREWS, Chairman.
The following reports which had been previously printed, were read by title and accepted.
[A. L. A. PUBLISHING BOARD]
With the issuance of the A. L. A. Catalog, 1904-11, which is now in press, the Publishing Board practically completes an important group of bibliographical aids which has been in process of compilation or publication during the past five years. The chief publications embrace the following:
A. L. A. Catalog, 1904-11, to be issued in 1912.
List of subject headings for use in dictionary catalogs, 3rd edition revised by Mary Josephine Briggs. 1911.
Small library buildings; a collection of plans with introduction and notes by Cornelia Marvin. 1908.
Guide to the study and use of reference books, by Alice B. Kroeger. 1908.
Supplement to the above, compiled by Isadore G. Mudge. 1911.
Foreign book lists, embracing to date German, French, Hungarian, Norwegian and Danish, and Swedish.
550 Children's books; a purchase list for public libraries, by Harriet H. Stanley. 1910.
Selected list of music and books about music for public libraries, by Louisa M. Hooper. 1909.
Hints to small libraries, by Mary W. Plummer, 4th edition. 1911.
This list does not include a number of new tracts and handbooks, nor the tentative chapters of an A. L. A. Manual of library economy which it is proposed upon completion to assemble in book form. An index to annual library reports, which is well under way, will probably be put into type before the expiration of the calendar year. In addition, during the quintennial period now closing, the Board has been instrumental in securing the publication of the following important bibliographical aids bearing the imprints of other organizations: Index of economic material in documents of the states of the United States, prepared by Adelaide R. Hasse; A. L. A. Portrait index, edited by W. C. Lane and Nina E. Browne.
New chapters of the Manual of library economy are noted in another paragraph.
Directions for the librarian of a small library (3000 copies), by Zaidee Brown was reprinted for the League of library commissions from the type used by the Free public library commission of Massachusetts.
The library and social movements; a list of material obtainable free or at small expense (1250 copies), compiled by Ono Mary Imhoff, of the Wisconsin free library commission, was reprinted for the League from the type used for the edition of the Wisconsin free library commission.
Subject index to vol. 7 of the A. L. A. Booklist (2500 copies) was printed in June, 1911. Although proportionately valuable to vols. 1-6 the sale has been very unsatisfactory and is not an encouragement to prepare future yearly indexes.
During the past year the following publications have been reprinted: A. L. A. Index to general literature, edited by W. I. Fletcher, 1905 edition (500 copies); Cataloging for small libraries, by Theresa Hitchler (Handbook No. 2) (1000 copies); Binding for small libraries, compiled by the A. L. A. Committee on Bookbinding (Handbook No. 5) (1500 copies); Guide to reference books, by Alice B. Kroeger (1000 copies); and Cutter's Notes from the art section of a library (Tract No. 5) (1000 copies). A new edition of Miss Stearns' Essential in library administration (2000 copies) is now in press. It has been brought up to date by the author.
Publications out of Print—Several publications for which plates were not made have recently become out of print. Magazines for the small library, by Katharine MacDonald Jones, and Graded list of stories for reading aloud, by Harriot E. Hassler were both League publications which had been turned over to the Board. There is a steady demand for them and they should be either brought up to date and reprinted or something else issued on the same subject.
Questions of Policy—The work now nearing an end has engaged the attention and absorbed the resources of the Publishing Board to an extent that precluded entry into new fields calling for large expenditures. The editorial work involved in the compilation of the third edition of Subject headings, extending over a period of several years, and the editorial expenses incident to the publication of the A. L. A. Booklist have practically exhausted the current funds available for such service. Beginning with the new fiscal year, the funds derived from sales will doubtless care for all outstanding obligations, and the income from the Carnegie endowment can be devoted to maintain and to further strengthen the Booklist, and to undertake new enterprises.
Out of the great labor involved, and time required in the preparation of Subject headings, and of the A. L. A. Catalog, has developed the suggestion that work for new editions of the former compilation should be continuous, and that the Booklist bears a logical relationship to the A. L. A. Catalog. While the members of the Publishing Board are not fully prepared at this time to urge a definite permanent policy in this connection, an interesting suggestion comes from Mrs. Elmendorf, which well merits consideration in having an important bearing on future development. Her suggestion, in her own words, is this:
"Would it not be well to consider the publication of the A. L. A. Catalog in loose-leaf form on something the same principle as Nelson's Cyclopedia? Different parts of it might then be revised from time to time and the parts or pages might be for sale separately.
"It could be so printed that the pages might be mounted and arranged in a vertical file, headings being suggested at the bottom for arrangement as any library preferred, in regular classed order or in alphabetico-classed. A card index to the vertical file might be made to minimize the difficulties of the classed arrangement. The notes should be attractive notes, letting the presence of the book in this "Choice Catalog" vouch for its worth and in a general way for the treatment, for the choice should be guided by the best popular, readable treatment. I am more and more thinking that effective helps to awakened personal interest are needed and are lacking. The A. L. A. Catalog has always been too bulky, too costly, too much directed to the buyer for effective personal service. I have long been convinced that the greatest popular service can be performed even in the large libraries with quite a limited number of books, I think not more than 20,000, perhaps not more than 10,000. I should like to advertise that many adequately and attractively and watch the results.
"I know that there are many objections and difficulties to be met, and yet I believe that there is the germ of a workable scheme present."
List of Subject Headings—The chief publication of the year has been the new List of subject headings, revised and edited by Mary Josephine Briggs, cataloger of the Buffalo public library. After nearly five years of labor this third edition appeared October 1st, 1911 and has met with a most appreciative reception. 3000 copies were printed as a first edition. 1312 copies have already been sold (to June 1), and a steady demand continues. The reviews have been almost uniformly favorable.
A. L. A. Catalog, 1904-11—The new A. L. A. Catalog, 1904-11, although not yet off the press as this report is written, will be distributed we hope about the date of the Ottawa meeting. It contains a selection of about 3000 of the best books published since the A. L. A. Catalog of 1904, with a list of books now out of print which appeared in that Catalog, and also of new editions. Children's books are listed separately. Five thousand copies are being printed as a first edition, of which nearly 3000 have been subscribed for in advance of publication. From the preface written by the editor, Miss Elva L. Bascom, the following extracts are selected:
"The general plan of the Catalog and the routine of co-operation in the selection of titles practically coincide with those of the original work except that the whole routine, from the preliminary selection to the final preparation for printing, has remained in the hands of one person.
"All titles have been submitted to the publishers for latest information, so that the list should be dependable for prices.
"The sixth edition (1899) of the Decimal Classification has been followed. This decision was made on the information that the smaller libraries had not to any extent adopted the seventh edition. It is to be hoped that when the time comes to revise the 1904 Catalog there may be at hand a complete revised edition of the "D. C." simplified for the requirements of the smaller libraries.
"The addition of subject headings (not given with the titles in the 1904 Catalog) was determined on before the decision to print only a class list was made. It has been a frequent request from the librarians of smaller libraries, who need help in this matter and who found it difficult to find the headings chosen for the Dictionary list in the 1904 Catalog. The new edition of the List of subject headings has been followed with some additions. Where the subjects of analytics are easily ascertainable, they are only recommended.
"While in the beginning the attempt was made to adhere fairly closely to the proportion of titles to each subject given in the 1904 Catalog, it was found impossible to do so without impairing the usefulness of the list. The output of books in the subjects grouped under Sociology has been so great, and the demand for them so heavy, that it seemed better to include a larger number than was originally planned rather than risk weakening the usefulness of the section. The greatest increase has been in Useful Arts, and this was intentional, since there is no division where the average librarian is more in need of help, nor where it is more difficult to find the "best book" on short notice.
"Two special lists are incorporated in the Catalog, both in answer to definite requests. One is a selection of about 50 titles of religious books specially chosen for Catholic readers. Two preliminary selections were made, one by an assistant in the St. Louis public library at the request of the librarian, Dr. A. E. Bostwick, and a second by the Rev. W. J. McMullen of Pittsburgh, at the request of the librarian of the Carnegie library of Pittsburgh, Mr. H. W. Craver. Both lists were then incorporated into a much more extensive one, covering all subjects, compiled by Mr. William Stetson Merrill, of the Newberry library. The final selection, limited to religious books, was submitted to Archbishop Ireland, and at his request was examined by the Rev. J. A. Ryan, of the St. Paul Seminary, St. Paul, Minn."
The second list consists of 50 titles of modern drama and books about it. It was impossible to get any unanimity of opinion on such a brief selection and the editor is aware that it will satisfy a very small proportion of libraries. It is allowed to stand, however, for the suggestion it may give to the perplexed librarian of the smaller library.
"It is hardly to be imagined that any one ever prepared a list of this character and extent without wishing to ask the indulgence of possible critics and to explain why it is so much farther from perfect than it was expected to be. It seems a fairly simple task to select 3000 titles from the books published in eight years, but a list based on the co-operation of about 75 librarians and 100 experts, all fully engaged with their own work, and selected, edited and prepared for printing in the intervals between work having a prior claim, is bound to progress but slowly and to suffer many changes of fortune. One needs to be this sort of clearing house of opinion but once to realize how far apart our libraries are in the matter of book selection. In many cases what is one library's meat seems to be another's poison, and one soon reaches the conviction that there are no "best books" on any subject for a library of any size—if librarians alone are to be consulted. Happily, professors, special students and experts in general are less at variance. It is only fair to say that the Fiction and Children's lists represent librarians' votes only. It is to be doubted if the Fiction, at least, would have retained the proper amount of "light reading" if it had passed through the hands of literature professors. If it does not prove a good "working" selection the editor will be greatly disappointed, for it was on that ground alone that many titles escaped the deleting pencil."
A. L. A. Booklist—With the current number of the A. L. A. Booklist, volume 8 is completed. Since the initial number appeared in January, 1905, the Booklist has come to be regarded as an indispensable tool in every library. There has been no deviation from the original policy of furnishing to the libraries, and the numerous small libraries particularly, an unbiased guide in selection of books currently published. The number of titles listed from the 2500 annually examined, has been expanded from time to time, but the general character of the publication has been retained. Suggestions have come to the Board for change of name, for change of form and size, and for other changes that might lead to a larger use of the list by the general public. While the members of the Board have given careful consideration to the arguments presented, they have deferred reaching a final conclusion until practical unanimity can be arrived at as to the wisdom of the changes sought. A total of 7729 titles has been included in the 2456 pages which comprise the eight volumes of the Booklist:
A. L. A. BOOKLIST
| Volume | No. of Titles | No. of Pages | Nos. in Vol. |
|---|---|---|---|
| 1 | 500 | 144 | 8 |
| 2 | 690 | 256 | 8 |
| 3 | 681 | 238 | 8 |
| 4 | 643 | 317 | 9 |
| 5 | 739 | 197 | 6 |
| 6 | 1,417 | 424 | 10 |
| 7 | 1,583 | 456 | 10 |
| 8 | 1,476 | 424 | 10 |
| Total | 7,729 | 2,456 |
Manual of Library Economy—Six chapters of the Manual were printed and ready for distribution previous to the Pasadena conference, namely:
1. American library history, by C. K. Bolton.
2. Library of Congress, by W. W. Bishop.
4. The college and university library, by J. I. Wyer, Jr.
17. Order and accession department, by F. F. Hopper.
22. Reference department, by E. C. Richardson.
26. Bookbinding, by A. L. Bailey.
During the latter half of 1911 the four following chapters were printed, also each in a separate pamphlet, appearing in the order here named:
20. Shelf department, by Josephine A. Rathbone.
15. Branch libraries and other distributing agencies, by Linda A. Eastman.
9. Library legislation, by W. F. Yust.
12. Library administration, by A. E. Bostwick.
Since their publication the following number of copies of each chapter have been sold (to March 31):
| Chapter | 1 | 528 | copies |
| 2 | 473 | ||
| 4 | 589 | ||
| 9 | 251 | ||
| 12 | 267 | ||
| 15 | 475 | ||
| 17 | 591 | ||
| 20 | 474 | ||
| 22 | 617 | ||
| 26 | 671 | ||
| Total | 4,936 |
Manuscripts for two more chapters, The library building, by W. R. Eastman, and Proprietary and subscription libraries, by C. K. Bolton, are ready and in the secretary's possession, but funds for printing are not in hand at present, owing to the heavy obligation incurred by the printing of Subject headings and the A. L. A. Catalog, 1904-11, within so short a time of each other. It is hoped, however, to print these and perhaps some others before the end of the year.
Periodical Cards—The shipments of periodical cards sent out since the close of the last report of the Board (May 1, 1911) have comprised 3,009 titles and 180,241 cards, not including reprints of cards in which errors have been discovered after the cards have been distributed.
Copy is received regularly by the editor, Mr. William Stetson Merrill, every two weeks, on the fifth and twentieth of the month from the following libraries:—Columbia, Harvard, John Crerar, New York and Yale. This copy is edited promptly and prepared for the printer.
Advertising—The Board's publications have been regularly advertised in Library Journal and Public Libraries and in one special number of The Dial. For the rest circularization and correspondence from the headquarters office has been relied upon. During the year over 15,000 pieces of circular matter have been mailed from headquarters office in the interest of our publications.
Particular effort has been made to advertise widely the new List of subject headings and the A. L. A. Catalog. For the latter in addition to circularizing the libraries descriptive postal cards were addressed to 7,000 high school and normal school principals. From these circulars only about 100 orders for the Catalog can be directly traced. It seems plain that it does not pay to advertise our publications among the high schools. Slips advertising the Catalog were sent to the librarians of all the leading colleges, requesting that these slips be distributed to members of the faculty interested in book selection. This resulted in getting orders from many college libraries addressed, but very few from the teaching staff. Experience would indicate that libraries and librarians are the only classes to which advertising can profitably be addressed. We have endeavored to keep the state library commissions regularly informed on all our publications and all of them which issue monthly or quarterly bulletins list our new publications therein, generally with appreciative annotations and descriptions. Exhibits of publications have been made at several state library meetings visited by the secretary.
During the past year the principal libraries of England, Scotland and Ireland have been circularized with lists of our publications, and a very gratifying number of orders have been received as a result. When the revised edition of Subject headings appeared copies were sent to nearly all the library periodicals of the various countries of Europe with the result that they reviewed the book and quite a number of continental orders have been directly traceable to these reviews. Copies of Subject headings and the new A. L. A. Catalog have been ordered from almost every important country in the world.
This report would be incomplete without hearty acknowledgment of the excellent work of the Secretary, Mr. George B. Utley. To his good business judgment and careful and judicious management is due in great measure the splendid financial showing recorded in the accompanying fiscal statement. The affairs of the Board have never been in better shape than now. The sales are increasing encouragingly, the inventory shows a salable stock with less "dead" material than at any time for years back, and the office organization is now well systematized and effective.
HENRY E. LEGLER, Chairman.
FINANCIAL REPORT
| Cash Receipts June 1, 1911, to May 31, 1912. | |||
|---|---|---|---|
| Balance, June 1, 1911 | $2,337.70 | ||
| Interest on Carnegie Fund | 4,524.33 | ||
| Receipts from publications: | |||
| Cash sales | $3,781.47 | ||
| Payments on account | 7,690.89 | 11,472.36 | |
| Interest on bank deposits | 4.53 | ||
| Sundries | 1.98 | $18,340.90 | |
| Payments June 1, 1911, to May 31, 1912. | |||
| Cost of publications: | |||
| A. L. A. Booklist | $1,940.35 | ||
| Library and social movements (1250 copies) | 25.50 | ||
| Supplement to Guide to reference books, 1909-10 (3000 copies) | 220.12 | ||
| Subject headings, second edition reprint (200 copies) | 132.30 | ||
| Subject index to Booklist Vol. 7 (2500 copies) | 223.00 | ||
| Copyright on Hints to small libraries | 1.03 | ||
| Copyright on Supplement to Guide | 1.03 | ||
| Directions to librarian of a small library (3000 copies) | 76.49 | ||
| Government documents in small libraries, reprint (1000 copies) | 25.50 | ||
| Manual of library economy, Chap. 1, 2, 4, 17, 22, 26 | 376.55 | ||
| Manual of library economy, Chap. 20 | 48.80 | ||
| Manual of library economy, Chap. 15 | 62.80 | ||
| Manual of library economy, Chap. 9 | 43.40 | ||
| Manual of library economy, Chap. 12 | 37.55 | ||
| Binding for small libraries, reprint (1500 copies) | 29.00 | ||
| Reprints from Bulletin | 40.91 | ||
| Cataloging for small libraries, reprint (1000 copies) | 64.00 | ||
| Library statistics tables | 2.25 | ||
| A. L. A. Index to general literature (part of reprint) | 108.00 | ||
| Notes on the art section of a library, reprint (1000 copies) | 20.00 | ||
| Guide to the use of reference books, reprint (1000 copies) | 259.08 | ||
| Subject headings, third edition (3000 copies) | 3,518.96 | ||
| Periodical cards | 1,516.38 | $8,773.00 | |
| Addressograph machine supplies | 21.84 | ||
| Furniture and fixtures | 103.00 | ||
| Advertising | 282.15 | ||
| Postage and express | 631.49 | ||
| Rent at Madison office | 300.00 | ||
| Travel | 281.35 | ||
| Salaries | 3,670.00 | ||
| Expense at headquarters | 2,000.00 | ||
| Supplies and incidentals | 1,066.36 | ||
| Printing (stationery, etc.) | 43.25 | ||
| Balance on hand, May 31, 1912 | 1,168.46 | $18,340.90 | |
SALES OF A. L. A. PUBLISHING BOARD PUBLICATIONS
[REPORT OF THE CARNEGIE AND ENDOWMENT FUNDS]
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.
CARNEGIE FUND, PRINCIPAL ACCOUNT
| Cash donated by Mr. Andrew Carnegie | $100,000.00 | ||||
| Invested as follows: | |||||
| June 1, 1908 | 5,000 | 4% Am. Tel. & Tel. Bonds | 96-1/2 | $ 4,825.00 | |
| June 1, 1908 | 10,000 | 4% Am. Tel. & Tel. Bonds | 94-3/8 | 9,437.50 | |
| June 1, 1908 | 15,000 | 4% Cleveland Terminal | 100 | 15,000.00 | |
| June 1, 1908 | 10,000 | 4% Seaboard Air Line | 95-1/2 | 9,550.00 | |
| June 1, 1908 | 15,000 | 5% Western Un. Tel. | 108-1/2 | 15,000.00 | |
| June 1, 1908 | 15,000 | 3½% N. Y. Cen. (Lake Shore Col) | 90 | 13,500.00 | |
| June 1, 1908 | 15,000 | 5% Mo. Pacific | 104-7/8 | 15,000.00 | |
| May 3, 1909 | 15,000 | 5% U. S. Steel | 104 | 15,000.00 | |
| Aug. 6, 1909 | 1,500 | U. S. Steel | 106-7/8 | 1,500.00 | |
| July 27, 1910 | 1,000 | U. S. Steel | 102-1/2 | 1,000.00 | |
| 102,500 | 99,812.50 | ||||
| Jan. 15, 1912 | Union Trust Co. on deposit | 187.50 | |||
| $100,000.00 | |||||
In addition to the above we have on hand at the Union Trust Company $150 profit on the sale of the Missouri Pacific Bonds, which we have carried to a special surplus account.
CARNEGIE FUND, INCOME ACCOUNT
| 1911 | ||
| January 15, Balance | $2,487.76 | |
| February 15, Int. N. Y. Central | 262.50 | |
| March 1, Int. Missouri Pacific | 375.00 | |
| March 1, Int. Seaboard Line | 200.00 | |
| May 2, Int. U. S. Steel | 437.50 | |
| May 2, Int. Cleveland Terminal | 300.00 | |
| July 5, Int. Amer. Tel. & Tel. Co. | 300.00 | |
| July 5, Int. Western Union Tel. Co. | 375.00 | |
| August 9, Int. N. Y. Central | 262.50 | |
| September 1, Int. Seaboard Line | 200.00 | |
| September 1, Int. Missouri Pacific | 375.00 | |
| November 1, Int. U. S. Steel | 437.50 | |
| November 1, Int. Cleveland Terminal | 300.00 | |
| December 31, Int. Union Trust Co. | 54.33 | |
| 1912 | ||
| January 2, Int. Western Union Tel. Co. | 375.00 | |
| January 2, Int. Am. Tel. & Tel. Co. | 300.00 | $7,042.09 |
| Disbursements: | ||
| 1911 | ||
| March 2, Carl B. Roden, Treas. | $2,487.76 | |
| August 15, Carl B. Roden, Treas. | 2,000.00 | |
| October 6, Carl B. Roden, Treas. | 1,000.00 | |
| December 27, Rent Safe Deposit Co. | 30.00 | |
| January 15, 1912 Cash on hand | 1,524.33 | $7,042.09 |
ENDOWMENT FUND, PRINCIPAL ACCOUNT
| 1911 | ||
| January 15, On hand, Bonds and Cash | $7,111.84 | |
| April 1, Life membership Mary E. Hawley | 25.00 | |
| April 1, Life membership Mary F. Isom | 25.00 | |
| May 1, Life membership H. W. Craver | 25.00 | |
| August 9, Life membership M. S. Dudgeon | 25.00 | |
| August 28, Life membership F. K. Walter | 25.00 | |
| October 4, Life membership R. G. Thwaites | 25.00 | |
| November 1, Life membership R. B. Stern | 25.00 | $7,286.84 |
| Invested as follows: | ||
| 1908 | ||
| June 1, 2 U. S. Steel Bonds | 98½ | $1,970.00 |
| October 19, 2 U. S. Steel Bonds | 102-5/8 | 2,000.00 |
| November 5, 1½ U. S. Steel Bonds | 101 | 1,500.00 |
| 1910 | ||
| July 27, 1½ U. S. Steel Bonds | 102½ | 1,500.00 |
| January 15, 1912 Cash on hand, Union Trust Co. | 316.84 | $7,286.84 |
ENDOWMENT FUND, INCOME ACCOUNT
| 1911 | ||
| January 15, Cash on hand | $448.41 | |
| May 2, Int. U. S. Steel | 175.00 | |
| November 1, Int. U. S. Steel | 175.00 | $798.41 |
| Disbursements: | ||
| 1911 | ||
| February 15, C. B. Roden, Treas. | $448.41 | |
| July 5, C. B. Roden, Treas. | 175.00 | |
| January 15, 1912 Cash on hand | 175.00 | $798.41 |