Institute Reports for the Year 1932

GENTLEMEN : It is my privilege to transmit herewith the reports for the calendar year 1932 of your Treasurer and the Chairmen of the following Standing Committees: Finance, Admissions, Membership, Papers and Publications, Library, and Mining and Metallurgy. To these reports you are referred for additional details of the year's activities. Finances.-Continuation of depressed conditions in the mining industry (in common with other industries) caused the income of the Institute to decline from $168,274 in 1931 to $138,331. However, economies were effected so as to reduce expenditures from $171,198 to $135,977. As a consequence the net result of the operations for the year was a-surplus of income amounting to $2,354 compared with a deficit of $2,924 in 1931. This gratifying result is accounted for in large measure by the foresight of the Finance Committee in anticipating a substantial decline in income and preparing the budget accordingly. Incidentally, the tentative budget for 1933 has been balanced at $125,000.