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Governing Board of the American Institute of Physics

Minutes of Meeting

April 7, 1934

I. The Board of Governors met in response to call of the Chairman at nine thirty-five a.m., April 7, 1934, at the office of the American Institute of Physics Incorporated, 11 East 38th Street, New York, New York.

Present: Chairman Compton, Messrs. Bingham, Crittenden, Dodge, Foote, Hunter, Klopsteg, Knudsen, Palmer, Pegram, Richtmyer, Tate, Waterfall, and Director Barton and Treasurer Buffum.

Absent: Messers. Fletcher and Sheppard.

II. Approval of the Minutes of the Meeting of April 15, 1933 was voted.

III. REPORT OF CHAIRMAN

The Chairman stated that he had no formal report to make to this meeting, that a formal report had been made to the Annual Meeting of the Corporation on February 23, 1934, and that numerous matters would be reported from the March 3, 1934 meeting of the Executive Committee of the Governing Board.

IV. REPORT OF SECRETARY

The Secretary reported the death on July 10, 1933 of Dr. Harold D. Arnold, member of the Governing Board on nomination of the Acoustical Society of America.

The Secretary reported also that by mail ballot on September 27, 1933 Dr. Wallace Waterfall, Secretary of the Acoustical Society of America, had been elected a member of the Governing Board, to succeed Dr. Arnold, and to serve until the annual meeting of the corporation in February 1934.

V. REPORT OF TREASURER

The Treasurer submitted a report in two schedules, one, a condensed summary of 1933 operations, and two, a comparison of estimates with actual operations, as follows:

CONDENSED SUMMARY OF 1933 OPERATIONS
Income
Total Non-JournalR.S.I.Mem. Soc. JournalsaJ. Aero. Sci.
Institute:
service charge$7,581.58$7,581.58
misc.101.37101.37
Journals:
subscrip.37,050.81224.1736,826.64
per page charge12,331.001,176.0011,155.00
advertis.6,408.696,408.69
misc.b6,348.40541.935,806.47
Totals69,821.857,682.958,350.7953,788.11
Expense
Institute:11,251.1511,251.15
Journals:
publish.75,874.7319,365.5756,419.8889.28c
service charge7,581.587,581.58
reprints6,439.17530.605,908.57
Totals101,146.6311,251.1519,896.1769,910.0389.28

aincluding J. Chem. Phys.
bincluding reprint and single copy sales
cpreliminary work for first issue, not complete Dec.31.

COMPARISON OF ESTIMATES WITH ACTUAL OPERATIONS
Income
ABC
Estimated 1933 income to be collected for journal by A.I.P.Actual income collected exclusive of reprint salesEstimated Pages
Phys. Rev.$22,100.00$20,591.302300
Physics8,170.006,029.41700
Rev. Mod. Physics6,600.006,598.15400
J. Opt. Soc.a4,637.00d4,350.85400
J. Acous. Soc.a1,900.00e1,875.75300
Am. Phys. Teacher105.91144
J. Chem. Phys.6,750.007,608.551000
Rev. Sci. Inst.6,850.008,005.321000
$57,007.00$55,165.246244
Expense
DEF
Estimated CostsActual PagesActual costs without reprints, handling and differential charges
Phys. Rev.$25,386.002250$25,785.42
Physics6,600.005205,562.95
Rev. Mod. Physics4,966.003104,636.67
J. Opt. Soc.a5,148.005066,413.89
J. Acous. Soc.a2,735.003822,601.42
Am. Phys. Teacher1,256.001521,489.97
J. Chem. Phys.10,353.0095210,309.28
Rev. Sci. Inst.20,243.00102818,985.85
$76,687.006100$75,785.45

aOptical and Acoustical Societies not on standard basis
dnot including settlement of $3738 for members
eincluding portion of income turned over to Society during first half of year

1933 JOURNAL OPERATIONS
GHIJ
Total actual expense including reprint costs, differential and handling chargesTotal actual incomeNet amount remaining to be paid by society in lieu of member subscriptionsSociety outlay per member on list
Phys. Rev.$32,067.30$22,448.29*$9,619.01$3.96
Physics6,926.216,330.75*595.46
Rev. Mod. Phys.5,487.026,872.301,385.28
J. Opt. Soc.acd6,952.76d4,675.06
J. Acous. Soc.a3,314.252,033.36*1,280.891.72
Am. Phys. Teach.1,944.99189.28*1,755.714.00
J. Chem. Phys.13,217.508,252.77*4,964.73
Rev. Sci. Inst.19,896.178,350.79*11,545.38
$89,806.20$59,152.60$28,375.90

* red
aOptical and Acoustical Societies not on standard basis
cno differential or handling charge included
dnot including settlement of $3738 for members

There was general discussion of the Treasurer’s report.

The Treasurer stated that the deficit on the Journal of Chemical Physics was less than might have been expected. Mr. Barton stated that the Journal of Chemical Physics had been recognized quickly as the proper medium for papers in its field for which accomplishment much credit should go to the editor, Mr. Urey; that it had published 952 pages for the year and its circulation was about 300 at the beginning of the year and 550 at the end of the year.

On motion it was voted:

that the Treasurer’s report be accepted.

VI. REPORT OF DIRECTOR

The Director submitted a report supplementary to the report of the President to the annual meeting of the corporation in February, this supplementary report dealing with matters of immediate interest particularly some of the items from the action of the Executive Committee.

The report is as follows:

“Mr. Chairman:

At previous meetings I have made a fairly complete report about the situation of the Institute. This year, the highlights of the present situation have been covered by the report you presented on February 23rd to the Societies’ proxies. This report, without the financial part, has been sent to each member of the Board. Further information is contained in the reports of the Executive Committee and its sub-committee on a plan for support from industries. To save time, I will cover now only what these other reports omit and add to that only such background as it seems the Board might want to have freshly in mind in considering matters requiring decisions today.

In a nutshell, the background is this. The Institute is a New York membership corporation chartered for non-profit educational activities. Its main work is the publication of journals for its members. It also acts as a mouthpiece and agent for the science and profession of physics in America, attempting, by dignified publicity, by intercession with public officials and by cooperation with other national groups, to promote the progress of physics and the welfare of its followers. The Institute is one year and ten months old from the date of incorporation, two years and five months old from the time we first opened an office and has been in its present quarters just two years even. It publishes nine scientific journals, eight of these for its members and itself, the other as a paid service for the Institute of Aeronautical Sciences. The eight journals contain 6100 pages in 1933 and cost $89,806.20 to publish, all charges included. The Institute has contractual relations with its members under which they assume financial responsibility for six of these journals. Of the other two, THE JOURNAL OF CHEMICAL PHYSICS is tacitly backed by the Chemical Foundation and THE REVIEW OF SCIENTIFIC INSTRUMENTS is our own responsibility. The Executive Committee will report fully about the last.

To do its work, the Institute maintains this office, now somewhat crowded, and a staff of nine girls. Eight of these work on the journals, handling copy preparation, proof-reading subscription business, collections, mailing lists, single copy and back number orders, reprint orders and the collection of the $3 per page publication charge. Detailed income books are kept in this office but Mr. Buffum, as Treasurer, keeps control and expense books and makes all payments. This is an onerous job for which he receives no salary and inadequate appreciation.

The year 1933 was the first in which the Institute’s business got on a reasonably stable routine. Thus we are now in possession of costs and statistics which mean something. The books have been audited and a copy of the auditor’s report has been sent to each Society. It was not possible to send financial reports to each member of the Board along with the Chairman’s Report but the figures are now available here.

FORECAST

The Institute picked a desperate time to start out in life. With the help of the Chemical Foundation, now decreasingly required, we are successfully pulling through. All the journals but THE REVIEW OF SCIENTIFIC INSTRUMENTS and THE JOURNAL OF CHEMICAL PHYSICS are self-supporting and, with the increase in subscriptions which has already started, should be able to expand provided the NRA does not increase costs too much. THE JOURNAL OF CHEMICAL PHYSICS will have to hold down its pages – it is already sizeable – against pressure for publication in it, for another two years. Then it should be self-supporting. The difficult problem of the R.S.I. for 1934 will be discussed by the Executive Committee but I want to urge that Committee to hold another meeting – in July perhaps – to lay out the plan for 1935 and beyond.

Some of the salaries paid in this office are adequate but several are too small to retain the services we get for them as times improve. No great increase in our total expense will be necessary but some suitable system for raises should be adopted. Last year I spoke of a weakness in our organization that we were too dependent on Miss Mitchell. If she got sick I had no idea how the journal business would go on. The Board authorized the use of a part of my salary, saved during two months leave of absence, to employ on trial Miss Griffin in the hope that she would be competent to serve as Miss Mitchell’s understudy. I’m happy to report that she is a success and we are fairly secure from disaster to the journal publication end of our business. Our business increased so much during 1933 that we needed her services anyway and have no(w) added her to the regular payroll.

I wish I had someone in my own office to help with routine cost accounting, preparation of reports and other routine items which I am at present the only one who can handle. They occupy time which could otherwise be used in writing releases for newspapers and R.S.I. editorials explaining and urging Institute aims, in appealing to manufacturers for advertisements and to industries for financial assistance, and engaging in promotional work for the journals, for the science of physics and for the profession as well as for science and scientists in general. Except for short emergency periods, however, I don’t think the Institute’s pocketbook would stand the necessary salary.

Mr. Chairman, a number of detailed matters will require comment later in the meeting but for the present this report can close with the statement that the future of the Institute on a stable self-supporting basis seems readily feasible providing the R.S.I. can be run without a deficit. As to that, we’ll hear more later.”

VII. REPORT OF ANNUAL MEETING OF THE CORPORATION

The Secretary reported that at the annual meeting of the American Institute of Physics Incorporated on February 23, 1934, at Columbia University, New York, New York, the Chairman made a report on the state of the Institute and a tentative financial report stating that the full audit would be sent out to each of the member societies in a short time after the meeting.

The Directors or members of the Governing Board were elected as follows:

American Physical Society:

  • George B. Pegram to succeed himself – term until 1937

Optical Society of America:

  • E.C. Crittenden to succeed Loyd A. Jones – term until 1937

Acoustical Society of America:

  • V.O. Knudsen to succeed Wallace Waterfall – term until 1936
  • Wallace Waterfall to succeed D.C. Miller – term until 1937

Society of Rheology:

  • S.E. Sheppard to succeed W.P. Davey – term until 1935
  • E.C. Bingham to succeed himself – term until 1935
  • A. Stuart Hunter to succeed himself – term until 1935

American Association of Physics Teachers:

  • Frederic Palmer Jr. to succeed himself – term until 1937

VIII. REPORT OF EXECUTIVE COMMITTEE

  1. Foreign postage:

    The Minutes of the meeting of the Exectutive Committee of the Governing Board of March 3, 1934 were read.

    In accordance with the action of the Executive Committee on motion it was voted:

    that the Committee recommend to the member Societies that they consider the desirability of increasing the foreign subscription price of their journals by ten percent (10%) which amount will approximately cover the extra cost of foreign postage on the journals and on the subscription to the Review of Scientific Instruments.

    In accordance with the action of the Executive Committee on motion it was voted:

    that the Institute of Physics increase the foreign subscription rates for the Journal of Chemical Physics and Review of Scientific Instruments in order to meet the additional cost of sending the journals abroad, the increase to be one dollar (1.00) for the Journal of Chemical Physics and fifty cents (0.50) for the Review of Scientific Instruments.

  2. Differential charge:

    On the subject of the action reported from the Executive Committee, namely, “that we recommend to the Governing Board that the differential charge be discontinued” there was full discussion and on motion it was voted:

    to appoint a committee to report on the subject later in the meeting.

    The Chairman appointed as the Committee the following:

    Messrs. Tate, Barton, Richtmyer, and Pegram, Chairman.

  3. Report of Committee on Research Associates:

    The Committee on Research Associates appointed by the Executive Committee was as follows:

    Messrs. Barton, Richtmyer, and Fletcher, Chairman.

    Mr. Richtmyer reported that under instructions of the Executive Committee this Committee on Research Associates had met and considered the question of how best to solicit and maintain the continuing support of industrial research laboratories and other organizations and individuals as contributing associates of the Institute. The Committee decided that the Director of the Institute, Mr. Barton, was the person best qualified to present the claims of the Institute to the prospective associates. Mr. Barton then submitted a report of a plan for contributing associates copy of which is attached to the official copy of the Minutes, which report contained certain resolutions.

    On motion it was voted:

    that these resolutions be adopted as follows:

    1. that the Institute shall immediately endeavor to enlist industrial and other organizations (primarily those maintaining research laboratories) as “Associates” of the American Institute of Physics Incorporated;
    2. that the annual dues for such Associates shall be $175;
    3. that such Associates shall be privileged to receive one subscription to each journal published by the Institute for itself or for any of its members;
    4. that the Institute shall pay to the credit of each journal so furnished the amount of a full rate subscription;
    5. that such Associates shall also receive Science Abstracts “A”;
    6. that such Associates shall receive all notices and bulletins of the Member Societies (assuming the will cooperation of the Member Societies in furnishing them gratis);
    7. that if, in any year, a deficit has to be made up or the expense of some extraordinary project has to be met, the Associates may be requested to add voluntarily an extra contribution to the flat dues payment;
    8. that the names of Associates should be properly listed on organization charts of the Institute and published in THE REVIEW OF SCIENTIFIC INSTRUMENTS;
    9. that full information as to the finances and accounts of the Institute shall be made available to the Associates; and
    10. that an expenditure of $1500., or as much as needed, be authorized in addition to the regular 1934 budget to conduct an immediate drive for Associates and contributions.

    The Committee on Research Associates recommended certain changes in the Rules of Institute, and on motion it was voted:

    that the Rules of the By-Laws of the American Insitute of Physics Incorporated be amended as follows:

    1. amend the title of “Article IV – Associated Societies” to read: “Article IV – Associated Societies and Other Associates.”;
    2. retain the present wording of Article IV as sub-paragraph number 1 (arabic) of the article; and
    3. add a new paragraph to the article as follows: “2. The Governing Board or its specified representative shall have power to designate any individual, group or corporation an “Associate” and may extend to such an Associate any privileges or services consistent with the Constitution which may advance the purposes for which the Institute was formed. The Governing Board shall have power to withdraw this designation at any time. Such an Associate may refer to himself to itself as an 'Associate of the American Institute of Physics Incorporated.'”

    On motion the Secretary of the Board was appointed to designate Associates and to notify those so designated of such designation.

    On motion it was voted:

    that the Institute should make no approach to prospective associates which might hazard present contributing relationship of such prospective associates with any one of the member societies.

IX. NOMINATION OF OFFICERS FOR ENSUING YEAR

On motion a nominating committee was appointed as follows:

Messrs. Foote, Klopsteg, and Bingham.

On motion the following appointments were made:

  • E.C. Bingham to be member of the Executive Committee vice W.P. Davey;
  • H.A. Barton to be Director of the Institute from September 30, 1933, to September 30, 1934 or until further action by the Board;
  • John T. Tate to be Adviser on Publications from September 30, 1933 to September 30, 1934 or until further action by the Board; and
  • W.W. Buffum to be Treasurer from September 30, 1933 to January 1, 1935 and thereafter or until further action by the Board.

X. REPORT OF DIRECTOR ON NRA CODE

The Director reported that the new NRA code for printing in the Graphic Arts will mean some increase in printing costs but that the indications are that the increase will not be as large as twenty percent as first feared.

XI. REPORT OF COMMITTEE ON PRINTING CONTRACTS

The Director for this Committee spoke of the necessity for continuing to guard the interests of the Institute and raised the question as to whether the Board felt that new bids should be called for within the year.

On motion of Mr. Tate it was voted:

that bids be not called for in the present calendar year.

XII. REPORT ON QUESTION OF CLUB RATES FOR JOURNALS

The Director discussed the possibility of club rates for the journals published by the Institute.

On motion of Mr. Bingham it was voted:

to refer the question to the Executive Committee.

XIII. Statement of Mr. Buffum in regard to the illness of Mr. Howard Blakeslee in Florida.

Mr. Richtmyer and Mr. Buffum were requested to send a telegram of best wishes and flowers to Mr. Blakeslee at St. Petersburg, Florida.

XIV. RESOLUTION OF RESPECT

Mr. Tate offered the following resolution which was voted unanimously:

RESOLVED: that the members of the Governing Board express to the Acoustical Society of America their deep appreciation of the wise counsel which Mr. Harold D. Arnold gave to the organization and initial activities of the American Institute of Physics, since his keen analytical mind and rich experience were of invaluable assistance during the difficult and critical formative period of this Institute.

At this point the Governing Board adjourned for luncheon. After luncheon the Committee appointed to report on the question of the differential charge made its report.

XV. REPORT OF COMMITTEE ON DIFFERENTIAL CHARGE

This Committee made its report and on motion the following resolution was adopted:

RESOLVED: that a committee be appointed to make a study of the cost of publications under the Institute as compared with previous cost and to consider the advisibility of making representations to the American Physical Society that may lead to the desirable end of the abolishment of the differential charge clause in the present contracts and if it appears advisable to bring the matter appropriately to the attention of the American Physical Society.

The Chairman appointed as this Committee the following:

Messrs. Tate, Barton, Richtmyer, and Pegram, Chairman.

XVI. REPORT OF NOMINATING COMMITTEE

The Nominating Committee reported nominations as follows:

  • For Chairman: Mr. Compton
  • For Secretary: Mr. Pegram

Mr. Compton stated that he would be very glad to be relieved of the chairmanship and that he felt the Institute might do better to have a new chairman. There seemed to be unanimous disagreement with the views of the Chairman on that point.

On motion the Secretary was authorized to cast a ballot for the nominees.

The ballot was cast and Mr. Compton was declared elected Chairman and Mr. Pegram Secretary.

Mr. Richtmyer at this time reported that the telegram and flowers had been sent to Mr. Blakeslee.

XVII. BUDGET OF REVIEW OF SCIENTIFIC INSTRUMENTS

The Director submitted a memorandum showing the result of the replies to 800 questionnaires sent out early in March to subscribers of the REVIEW OF SCIENTIFIC INSTRUMENTS as follows:

ScoreAverage Rank
Instrument Articles19712.5
Physics Forum23582.9
Current Literature25653.2
Physics News31493.9
Instrument Abstracts33734.2
Book Reviews35004.4

In discussing the question of how to handle the current deficit the Director stated that about $2000 had been received as contributions in response to the notice and request sent to all subscribers; that $1498 had come from the Optical Society of America representing what in the judgement of the Society could be considered the share of the Review of Scientific Instruments in the surplus in the accounts of the journal before it was taken over by the Institute; that the anonymous underwriter had furnished $1653.28; that a request was pending for a contribution from the National Academy of Sciences.

The Director submitted the following proposed budget for the Review of Scientific Instruments:

R.S.I. BUDGET – 1934
These costs do not include cost of printing adv. pages or salaries in Editor’s or Institute’s offices for handling advertising.
1933Old Costs 1934New Costs 1934
Pages (other than ads)860542542
I.Engraving$632.67$400.00$500.00
Composition3,025.221,900.002,000.00
Paper, printing, binding body2,959.23 1,900.002,000.00
covers1,162.871,150.001,300.00
Mailing and stencils684.29700.00800.00
Postage (non ad. portion)1,279.79800.00800.00
Misc. and year end adjustments411.99400.00400.00
II.Editor's Salary500.00a500.00a500.00
Editor's assistant500.00a450.00a450.00
Abstractors549.56100.00
III.Editorial Mechanics1453.07900.00900.00
Subscription work2,449.752,500.002,500.00
IV.Miscellaneous55.7550.0050.00
Differential (non ad. pp.)322.72
$15,986.93$11,750.00$12,200.00

aremainder charged to advertising

R.S.I. – ESTIMATED INCOME 1934
19331934
Advertising (net)$3,288.05$4,000.00b
Pub. charge & reprints (net)768.37400.00
Single copy sales (net)156.53200.00
Paid subscriptions and misc.228.60300.00
$4,441.55$4,900.00
Excess of expense over income$11,545.38$7,300.00

bincreased by 30% in number of pages sold but decreased by 10% by added discounts.

Emergency income anticipated or received:
19331934
Rockefeller Foundation$1,653.28
Optical Society$1,448.98
Contributions from subscribers2,000.00
$1,653.28$3,448.98
Net deficit$9,892.10$3,851.02

On motion it was voted:

that the Review of Scientific Instruments’ budget as submitted be approved.

The Director also submitted a memorandum on classified contents for the Review of Scientific Instruments for 1933-1934:

R.S.I. CONTENTS
Section19331934Future Normal
1st four issuesavg. issue henceforthtotal for year
Instruments:
Articles3929720257300
Abstracts1091717
News and Views:
Physics Forum10433681110
News and Views511133550
Book Reviews451612424
Current Lit.832667484
Miscellaneous:
Index351620
Contents12411212
Blanks & Obit.52
Covers I & II24822424
86021244542624
Advertisements:
White pp.1425417190348
Cover IV.12411212
Index (Cover III)12411212
Covers & Pages1,02627460756996
alternate issues
48 pages64 pages
4 covers4 covers

Mr. Tate raised the question of the possibility of charging a one dollar subscription for the Review of Scientific Instruments. Without objection this matter was referred to the Executive Committee.

Mr. Barton commented on replies to questionnaires and discussed in some detail the possible future of the Review of Scientific Instruments. Without objection this subject was referred to the Executive Committee for the summer meeting.

XVIII. BUDGET OF INSTITUTE FOR 1934

The Director submitted a proposed budget for the Institute for 1934 as follows:

INSTITUTE BUDGET – 1934
As approved by Executive Committee except for reduced R.S.I. deficit
Salaries:
Director$4,000a
Secretary820b
Mueller1,200
Share other salaries250$6,270.00
Organization and educational (including proofs to newspapers, Expenses on February 22nd, etc.)2,000.00
Office Expenses and miscellaneous (same as 1933)1,500.00
Travelling Expense (Board, Executive Committee and Director)1,200.00
$ 11,970.00
Add: R.S.I. deficit7,300.00
Total$19,270.00
ESTIMATED ORDINARY INSTITUTE INCOME 1934
Handling Charges$8,000.00
Interest and Miscellaneous100.00
$8,000.00 ($8,100.00?)

Excess of expense over income – $ 11,170.00

In 1933$13,653.28
In 193223,775.03
EXTRAORDINARY INCOME NOW IN SIGHT
Old J.O.S.A. and R.S.I. balance$1,448.00
Contributions from subscribers2,000.00

a$3,000 charged to journals
b$740 charged to journals

On motion it was voted:

that this budget be approved as presented.

XIX. REQUEST OF SURGEON GENERAL’S OFFICE

Mr. Richtmyer stated that Major Hume of the Surgeon General’s Office, U.S. Army, had requested a gift of a subscription for the Review of Scientific Instruments.

Without objection Mr. Richtmyer was authorized to furnish a subscription if the journal were to be used for abstracting purposes by the Surgeon General’s Office.

XX. QUESTION OF OFFICE SPACE

The Director discussed the question of office space at the end of the present lease which runs until May 1, 1935. Without objection this was referred to the Executive Committee.

XXI. APPOINTMENT OF BOARD OF EDITORS FOR JOURNAL OF CHEMICAL PHYSICS AND REVIEW OF SCIENTIFIC  INSTRUMENTS

On motion the appointment of this editorial board was referred to the Chairman with power.

XXII. PROBLEM OF MEETING THE COST OF PUBLICATION OF RESEARCH

The Chairman discussed for the Committee the possibility of getting the research institutions of the country to agree on the principle now partially established that it should be the responsibility of the institutions supporting research to provide for putting their research papers in type, a cost which means about five dollars a page or one cent a word; that there seems to be strong support for this general principle and that it will be considered at the National Research Council conference on May 19th; that investigations are being made of the financial effect on institutions.

Following the remarks of the Chairman there was general discussion. Mr. Foote pointed out the very distinct difference of relationship of publication between universities and scientific laboratories on the one hand and industrial research laboratories on the other hand, the chief satisfaction and reputation of research departments in universities and of scientific research institutions being gained through the very publications so that they are always eager to publish, while the industrial laboratories though eager to have publications from all other sources nearly always publish themselves with reluctance and with much red tape as to the release of articles for publication. The point was made that while a three dollar or a five dollar charge per page might operate very well with universities and scientific research laboratories it would be difficult to operate in connection with industrial laboratories except in a few outstanding cases; that it would probably be much easier to get contributions from industrial laboratories to support publication in general than to get them to contribute through a per page charge to the publication of their own articles.

Mr. Knudsen spoke of the effect of the per page charge in the Journal of the Acoustical Society in keeping away all papers from the RCA Laboratories.

XXIII. AMERICAN ASSOCIATION OF PHYSICS TEACHERS

Mr. Palmer stated that the American Association of Physics Teachers approved the three dollar per page charge in the American Physics Teacher. It was agreed that it was appropriate to apply the anonymous underwriter to this journal.

XXIV. REMARKS OF CHAIRMAN

Before adjournment the Chairman expressed for the Board its appreciation to the Director and through him to the staff for the successful way in which they had carried through the work of the Institute since its beginning.

XXV. ADJOURNMENT

Finally on motion the Board adjourned at five-fifteen p.m.