December 10, 1943

Executive Committee of the American Institute of Physics

Minutes of Meeting

1. In accordance to notice sent at the request of the Chairman, the Committee met at 2 p.m. in the office of the Institute, 175 Fifth Avenue, New York City. Members present: Mr. Klopsteg, Chairman; Messrs. Gibson, Pegram. Absent: Messrs. Fletcher, Tate. Present by invitation: Mr. Barton, Miss Mitchell, and Mr. Burnham of the Institute Staff, and Mr. Joseph C. Morris.

2. The minutes of the meeting of January 20, 1943, were read and approved by the Committee.

3. Report by Director Barton on the Building Fund and the Physics Building at 57 East 55th Street, New York City:

  1. Mr. Barton reported that after the purchase of the building, in accordance with the directions of the Governing Board, it appeared desirable to have appointed a sub-committee on preparation of the building for occupancy by the Institute, and that the Chairman had designated Mr. Joseph C. Morris and Mr. Wallace W. Waterfall as such a committee to assist the officers in making arrangements for suitable preparation of the building for use by the Institute.

    On motion it was voted to ratify the appointment of the sub-committee on preparation of the building as already appointed by the Chairman, consisting of Messrs. Morris and Waterfall.

  2. The Committee through the Director recommended the employment of a good contractor to carry out the work of renovating the building and of making such changes as may be necessary to meet the City regulations for conversion of a dwelling into a business building. The Committee recommended the employment of the firm of Vermilya-Brown Co. Inc. to do this work. Under an estimate already made by this firm it appeared that the cost of the work necessary to put in order the services in the building, to clean it thoroughly, to make certain changes such as removal of the kitchen range, etc., might run not above $15,000; that, depending on what the City may require, the cost of making changes to convert the building from a residence to a business building may run to $4,000; and that the cost of moving from the present quarters will be approximately $500. The terms of the arrangement with Vermilya-Brown Co. Inc. would be for them to do the work at net cost plus 10%.

    On motion it was voted to appropriate from contributions for the purpose and, in addition, so far as may be necessary, from the surplus of the Institute, a sum of not more than $20,000 to meet the cost of preparing the building for occupancy, of making such modifications as may be necessary to meet the New York City requirements, and of moving from the present offices.

  3. The Director called upon the Treasurer to present a resolution prepared in cooperation with the Auditor relating to the method of accounting with respect to the value of the land and building at 57 East 55th St.

    On motion the following resolution was adopted:

    “RESOLVED that the value of the land and building, 57 East 55th Street, New York City, including necessary renovations and repairs and incidental moving expenses, shall be stated on the books of the Institute as the amount equal to the total costs less the amount received in cash or securities as contributions to the building fund.”

  4. Disposal of lease on offices at 175 Fifth Avenue, New York City: Director Barton reported that there appeared to be a good opportunity to get the managers of the building at 175 Fifth Avenue to agree to cancel the present lease of the Institute, which runs to April 30, 1946, if we can arrange for a responsible tenant to take over the lease, and that such a tenant is in prospect, namely, a certain church organization. The Director stated that it would probably be necessary to make some concession to the new tenant.

    After discussion it was voted to authorize the Director to offer a concession of three months’ rent and, if necessary, a fourth month in lieu of decoration, to any tenant who would be acceptable enough to the management of the building to cause the management to release the Institute entirely from its lease.

3. Budgets: The Director presented schedules which with minor revisions made after discussion are as follows:

  1. Operations and Maintenance, showing in the first column of figures the 1943 budget as adopted, in the second the estimate of actual income and expenditures made on the basis of operations for the year up to October 1, and in the third a tentative estimate of income and expenses for 1944:

    Schedule I
    Operations and Maintenance December 10, 1943
    Income Budget 1943 Oct. 1 Est. of 1943 Tentative Estimate for 1944
    Support from Societies $6,700.00 $7,000.00 $7,000.00
    Dues – Associate Members 3,300.00 3,900.00 3,900.00
    Grants for War Projects National Research Council 2,000.00 1,200.00 —
      Rockefeller Foundation 7,000.00 7,500.00 2,000.00
    Total Income $19,000.00 $19,600.00 $12,900.00
    Expense      
    Operations Salaries $10,000.00 $12,000.00a $13,400.00b
      Travel: Gov. Board & Staff 1,100.00 1,800.00 2,000.00
      Office Expense 1,600.00 1,800.00 2,000.00c
      Information Services 500.00 500.00 500.00
      Auditing and Insurance 100.00 150.00 300.00
      Miscellaneous 200.00 150.00 200.00
    Special Projects National Research Council 2,000.00 1,200.00 —
      Rockefeller Foundation 7,000.00 7,500.00d 2,000.00
      Other 300.00 600.00e 1,000.00h
    Maintenance Depreciation 800.00 800.00 1,500.00f
      Amortization 100.00 100.00 —
      Repairs 300.00 300.00 500.00g
    Total Expense $24,000.00 $26,900.00 $23,400.00
    Profit -$5,000.00 -$7,300.00 -$10,500.00

    Notes:

    a. The salary budget for 1943 assumed refunds for time devoted to NRC and WPC war projects.  The relationship with NRC ended Sept. 30 because OSRD cancelled contract with NRC for OSP which carried these charges. At the same time it was decided to reduce salaries charged to WPC to enable it to contribute $3,000 to NRC for continuation of OSP. Thus for the last part of the year, salary items which ran approx. $1,000 each quarter were carried by “Operations” unexpectedly.

    b. Estimated, assuming no refunds from any source and continuation of present rate.

    c. Extra allowance against confusion of moving and waste of stationery because of changed address but $800 less rent.

    d. Includes $3,000 passed on to National Academy of Sciences.

    e. Includes $550 staff time on Building Fund Campaign.

    f. Depreciation estimate very uncertain depending upon how much of building cost and furnishings are capitalized and how annual charge is apportioned between Operations and the Publications Department.

    g. Depends on manner of charging early repairs to new building.

    h. $300 plus additional $700 for WPC now covered by residue in Rockefeller Grant.

  2. Combined Report, Departmental Profits:

    Schedule II
    Combined Report (Departmental Profits) December 10, 1943
      1943 Budget Oct. 1 Est. of 1943 Tentative Estimate for 1944
    Operations & Maintenance -$5,000.00 -$7,300.00 -$10,500.00
    Advertising 9,600.00 11,800.00 11,000.00
    Review of Scientific Instruments 100.00 3,900.00 2,500.00
    Journal of Chemical Physics 1,400.00 2,600.00 2,000.00
    Journal of Applied Physics -2,400.00 900.00 —
    Net Operating Profit $3,700.00 $11,900.00 $5,000.00
    Surplus at end of 1942 $29,084.45
    Estimated surplus at end of 1943 40,984.45
    Estimated surplus at end of 1944 45,484.45a

    aAssuming no net effect from fund raising and capital expenditure.

    After discussion it was voted to amend the budget for Operations and Maintenance for 1943 in accordance with the estimate of October 1, 1943, shown in the second column of Schedule I.

    After discussion of the tentative estimate for 1944, in the third column of Schedule I, it was voted that the Executive Committee would present to the Governing Board a budget for 1944 based for Operations and Maintenance on the third column of Schedule I and would authorize operation on such a budget in 1944 until the meeting of the Governing Board.

4. The Director called upon the Treasurer to offer a resolution ratifying certain actions of the Treasurer and Assistant Treasurer with respect to investments.

Accordingly the following motions were adopted:

  1. That the Executive Committee approve the reinvestment in short term (to December 1, 1944) United States Treasury certificates of the $15,000 that had been invested in 7/8% U.S. Treasury certificates maturing on December 1, 1943.

  2. That the Executive Committee approve the investment of funds from the surplus of the Institute in any government bonds received as contributions to the Building Fund.

5. Industry Associates and Associated Societies

  1. The Director reported that the following firms had in 1943 become Associates of the Institute:

    • American Cyanamid Company
    • Armour Research Foundation
    • Central Scientific Company
    • Curtiss-Wright Corporation
    • Leeds and Northrup Co. Inc.
    • Pittsburgh Plate Glass Co., Glass Division
    • Polaroid Corporation

    On motion it was voted that each of these companies be approved as an Associate of the Institute.

    Also that the following companies are prospective Associates:

    • Atlantic Refining Company
    • The Hoover Company
    • B. F. Goodrich Company
    • Spencer Lens Company

    On motion it was voted that each of these companies be approved as eligible to be an Associate of the Institute.

  2. The Director reported that the Physics Club of Chicago had asked to be permitted to become a society associated with the Institute.

    On motion it was voted that the Physics Club of Chicago be accepted as an associated society of the Institute.

6. Appointment of Editors:

Appointment of the following associate editors of journals was authorized:

Journal of Chemical Physics (to serve until December 31, 1946):

  • K. Fankuchen
  • Paul J. Flory
  • Joseph H. Frazer
  • Joseph O. Hirschfelder
  • W. F. Libby
  • Walter H. Stockmayer

Review of Scientific Instruments (to serve until Dec. 31, 1944):

 

  • J. A. Becker
  • D. W. Bronk
  • F. K. Harris
  • L. N. Ridenour
  • W. A. Wildpack (?)

Journal of Applied Physics (to serve until Dec. 31, 1944):

 

  • R. B. Barnes (?)
  • Otto Beeck
  • W. F. Busse
  • Clark Goodman
  • Selig Hecht
  • W. J. Lyons
  • Morris Muskat
  • Thomas H. Osgood
  • Paul E. Sabine
  • Frederick Seitz
  • J. R. Townsend

7. Date of Governing Board meeting:

 

It was pointed out by the Director hat on account of disturbance due to the contemplated move in January and also to shortage of help in the office, it might not be possible to have the completed financial report and audit of the Institute ready for the Governing Board if it should meet in the first half of March. It was suggested that it might be desirable to meet on or about March 24, 1944, but that suitable inquiry should be made first of the members of the Board.

8. Miscellaneous:

  1. Proposal of F. M. Turner:

    Mr. Barton presented a letter from Mr. F. M. Turner of the Reinhold Press making the suggestion that the publication of a series of Physics Monographs might be undertaken by the Reinhold Press to correspond to the Chemical Monograph series. It was suggested that the matter be referred to the Adviser on Publication and to the Editors of the Institute.

  2. Representation of Associated Societies at Governing Board meetings:

    It was voted that each Associated Society be invited to have, if it so desires, one of its officers attend as a guest the annual meeting of the Governing Board of the Institute. (It was stated that the motion did not mean that the Institute would meet the travel expenses of such a guest.)

  3. A letter from the Acting Secretary of the American Chemical Society was read.

    A letter from the Acting Secretary of the American Chemical Society was read. The letter was one of congratulations to the American Institute of Physics Incorporated for its success in acquiring a building as a permanent home, thus following the example of the American Chemical Society.

  4. Newspaper clippings:

    Miss Mitchell exhibited a considerable number of newspaper clippings which seemed to indicate an increasing public interest in physicists and their work.

  5. Appointment of counsel:

    The Director stated that in connection with the purchase of the Physics Building and also in connection with certain matters relating to Government regulations, it had been necessary to employ a lawyer and that Mr. Robert E. Lawther of the firm of Robinson and Henson, 120 Broadway, had been called upon for this work in which he had taken a great interest. The question had been raised as to whether it might be better to employ Mr. Lawther for a period on an annual retainer to Robinson and Henson of Five Hundred Dollars.

    On motion it was voted that the Institute should employ as legal counsel the firm of Robinson and Henson, particularly as represented by Mr. Lawther, at a retainer of $500 for the year 1944, with no commitment beyond that.

9. On motion the Executive Committee adjourned at 4:15 p.m.