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.
CARNEGIE FUND, PRINCIPAL ACCOUNT
| Cash donated by Mr. Andrew Carnegie | $100,000.00 | ||||
| Invested as follows: | |||||
| June 1, 1908 | 5,000 | 4% | Amer. Tel. & Tel. Bonds | 96½ | $ 4,825.00 |
| June 1, 1908 | 10,000 | 4% | Amer. 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 | 95½ | 9,550.00 |
| June 1, 1908 | 15,000 | 5% | Western Un. Tel. | 108½ | 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 | 102½ | 1,000.00 | |
| 102,500 | 99,812.50 | ||||
| Jan. 15, 1913 Union Trust Co. on deposit | 187.50 | ||||
| $100,000.00 | |||||