Executive Committee of the American Institute of Physics
Minutes of Meeting
October 2, 1964
Members Present: Ralph A. Sawyer – Chairman, S. A. Goudsmit, W. W. Havens, Jr., R. B. Lindsay, Vincent E. Parker, S. L. Quimby, Mary E. Warga
AIP Staff Present: Elmer Hutchisson, Wallace Waterfall, Mary M. Johnson
The Chairman called the meeting to order at 2:50 p.m.
Upon motion made, seconded and passed without dissenting vote, the minutes of the meeting of 5 June 1964 were approved as distributed.
2. Recommendation re Investment of Tate Fund
The Secretary reported that as of 3 June 1964 there was $16,258.28 in the John T. Tate Fund earning 3 ½% interest at Bankers Trust Company. The Karl T. Compton Fund was put into Loomis-Sayles Mutual Fund several years ago and has been earning approximately 7 ½% a year. After investigating the market carefully, the staff recommends that the John T. Tate Fund be invested in the Scudder, Stevens & Clark Balanced Fund which has a performance record and other features comparable with the Loomis-Sayles Fund. The following motion was made, seconded and passed without dissenting vote:
MOVED that the staff be authorized to invest the John T. Tate Fund in the Scudder, Stevens & Clark Balanced Fund.
3. Authorized Signatures for AIP Bank Accounts
The Secretary stated that, with our recent changes in officers, it is necessary for us to change the lists of people authorized to sign Institute checks. Names and titles will be changed to reflect our current officers and there will be no change in our policy requiring two signatures in most cases. The specific signatures for each account were indicated and are attached to these minutes. The following motion was made, seconded and passed without dissenting vote:
MOVED that the staff be empowered to revise the lists of authorized signatures on AIP bank accounts to conform with recent personnel changes as indicated.
4. Salaries of Officers – Changes Effective 1 October 1964
The Secretary reported that the determination of salaries of the principal officers of AIP has always been the responsibility of the Executive Committee. It is now in order to establish a salary for the Acting Director and consider the salaries of the Secretary and Acting Deputy Director and the Acting Treasurer. The Secretary stated the current salaries and their history and indicated the recommendations which he and the Acting Director had agreed upon. The two then withdrew from the meeting to permit discussion by the Committee. On being recalled they were informed that the following motion had been passed:
MOVED that Mr. Sawyer’s compensation for part-time services as Acting Director be $15,000 per year and that the salaries of Mr. Waterfall and Mr. Gilbert each be increased by $1,500 per year, all effective 1 October 1964.
Mr. Sawyer indicated that he would prefer to be paid as a consultant with headquarters in Ann Arbor and that none of the standard AIP fringe benefits were to apply in his case.
Mr. Waterfall said he hoped he would be relieved of administrative responsibilities at the end of 1965 and that he could continue as Secretary only for a few years thereafter at a reduced salary.
Report of Committee to Select Editor for JAP and APL
Since the last meeting of the Executive Committee Mr. Crawford had asked to be replaced as Editor of JAP and APL, and a committee consisting of Herbert I. Fusfeld – Chairman, Henry Hurwitz, Jr., J. E. Goldman, Sidney Millman and W. W. Havens, Jr., had been appointed to select a new editor. Mr. Havens reported that the committee met on 28 August and recommended that Elmer Hutchisson be appointed Editor of JAP and APL to replace Mr. Crawford. Mr. Hutchisson said he has been offered office space at Stanford University in Palo Alto and he would plan to engage an associate editor to take primary responsibility for APL. Upon motion made, seconded and passed without dissenting vote, Mr. Hutchisson was appointed Editor of JAP and APL.
Editors and Editorial Boards
Mr. Hutchisson stated that the appointment of editorial boards for AIP journals for next year was being brought up at this time, instead of in December as usual, so that the names of members can be included in the January issues. The only nominations received to date were from the Editor of THE JOURNAL OF CHEMICAL PHYSICS. Upon motion made, seconded and passed this subject was tabled until the next meeting.
Representative to AAAS Council Beginning 15 January 1965
The Secretary reported that Horace Trent’s term as one of our two representatives on the AAAS Council will expire on 31 December. Upon motion made, seconded and passed without dissenting vote, Mr. Trent was appointed for another two-year term.
New Member of RSI Board
Mr. Hutchisson stated that Louis F. Drummeter had resigned as a member of the Editorial Board of THE REVIEW OF SCIENTIFIC INSTRUMENTS. The Editor has recommended that Robert E. Hopkins replace him and a letter formally appointing Mr. Hopkins has been mailed. There were no objections.
6. Recommendations from Joint Meeting of Finance Committee and Committee of Society Secretaries and Treasurers
The Secretary reported that a joint meeting of the above committees was held on 30 September to consider the following suggestions which were proposed by the staff. (Action taken by the Joint Committee is indicated in each case and details are given in the minutes of that meeting):
New method of allocating costs of back number operations including a surcharge for billing low cost items. Approved.
New method of allocating costs on editorial mechanics. It was felt this should be discussed with journal editors and final action was deferred. Letter ballot to be taken in January.
New method of allocating administrative expense. Approved.
Policy on supplying missing issues. The policy statement offered for approval was not sufficiently clear and it is to be revised and resubmitted by letter ballot.
Back copy service on late non-member subscriptions. Action was taken to the effect that non-member subscriptions for the current year will not be accepted after 1 October in the case of calendar year subscriptions unless they are accompanied by a subscription for the following year.
Acceptance of multiple-year non-member subscriptions. The Committee considered but rejected the idea of accepting non-member subscriptions for more than one year, except under conditions as stated in “e” above.
All of the above decisions were unanimous and, unless there are objections, they will be adopted or incorporated in the 1965 budget which will be presented to the Executive Committee for approval in December. Upon motion made, seconded and passed without dissenting vote, the Executive Committee endorsed the decisions made at the subject meeting.
7. Change in Pension Plan and Group Life Insurance
The Secretary reported that the AIP Pension Committee, which was set up to administer our present pension plan, recommended at its meeting on 7 February 1964 that a study be made to determine whether the plan should be improved. This study was authorized by the Executive Committee on 20 March 1964 and Marsh & McLennan was engaged to make the survey. They have presented some specific recommendations which include improvement of pension benefits and substitution of an improved group life insurance plan for the death benefit feature in the present pension plan. Our present pension plan with group insurance costs AIP less than 3% of total payroll. A study of other pension plans, some of organizations similar to AIP, shows that 5% of payroll is not unreasonable. If a change is to be made in our pension plan soon, it should be made effective not later than January 1965. The staff has studied the details of the proposed plan and the Secretary suggested that a committee consisting of S. L. Quimby – Chiarman, Mark W. Zemansky and Brunson S. McCutchen be appointed to study the recommendations and settle on a plan. The following motion was made and passed without dissent:
MOVED that the recommended committee be appointed with power to adopt a new pension and group life insurance plan for AIP employees with the stipulation that the annual cost thereof to AIP shall not exceed 5% of annual payroll.
8. Plan to Operate Translation Program 1965-1966 Without NSF Subsidy
The Secretary recited some history of AIP’s financial experience with the Russian Translation Program briefly summarized in the following table:
|Year||Number of Russian Pages||Total Expenses Incl. AIP Overhead||NSF Subsidy Required||Ratio of Subscription & Back Number Income to Expense|
For the year ended 30 June 1964, the NSF subsidy required was $64,316 and, of this amount, $64,050 was used to cover the 15% AIP overhead allowed.
For the current year (1 July 1964 to 30 June 1965) we decided to operate three of the journals without subsidy and requested and were granted by NSF a subsidy of only $64,681 for the other five journals. The grant stipulates that we are to receive 15% overhead on “in-house” operations but only 5% for “out-of-house.” The definitions of the two types of operations leave us in doubt as to how our various activities would be classified but we suspect that we would be allowed only 5% on most of them.
Estimated expenses, without overhead, for the current year’s operations on the five journals under subsidy are $260,940. Subscriptions have come in well and we estimate income from these and back number sales to exceed $270,500. We also expect net income on the three journals not under subsidy of about $15,000.
NSF requested our estimates for the 1965-66 year several months ago. Our calculations indicated our income from subscriptions and back number sales should exceed expenses by at least 15% and we have advised NSF that we expect to need no subsidy for that year.
None of the $64,681 granted for the current year’s operations has been requested to date and, in view of the accounting and other difficulties of operating under the terms of the present NSF grant, the staff is considering the desirability of returning the grant. More solid figures will be available when books are closed for the third quarter and, if these support the position indicated, the staff recommends that NSF be requested to cancel the grant.
After some discussion and questions, the following motion was made and passed without dissent:
MOVED that the staff be authorized to proceed as suggested if it appears financially feasible to do so.
9. Personnel Survey
The Secretary reported that the personnel survey, which was authorized by the Executive Committee on 26 September 1962, has been started. The firm of Smythe & Murphy has been retained to conduct the survey and their report will be presented to the Executive Committee as soon as it is completed.
In answer to a question, the Secretary stated that annual turnover has gone down from 40% a year ago to approximately 30%.
10. Future Meetings
The following dates were approved for future meetings through June 1965:
|Executive Committee||Saturday, 12 December|
|Executive Committee||Friday, 29 January (APS-AAPT breakfast)|
|Annual Meeting||Friday, 19 February|
|Executive Committee||Friday, 19 March|
|Governing Board||Saturday, 20 March|
|Executive Committee||Friday, 11 June|
11. Rental of Apartment
The Secretary reported that the Institute has been negotiating with the Beaux Arts Hotel on East 44th Street for the rental of a one-room apartment to be used by Mr. Sawyer and Society officers whenever the need arises. The rental would be $220 per month and we have been requested to sign a one-year lease. The following motion was made, seconded and passed without dissenting vote:
MOVED that the Institute sign a one-year lease with the Beaux Arts Hotel for the rental of a one-room apartment at $220 per month.
12. Report of Committee to Survey Activities of the Institute and Select Candidates for Director
Mr. Lindsay stated that the subject committee is making progress in its search for a Director of the Institute and will make a formal report at the next meeting of the Executive Committee.
The meeting adjourned at 4:00 p.m.