Institute Reports for the Year 1932 (6b8958a5-a343-462e-afd9-f955f4e9da41)

GENTLEMEN : Herewith are transmitted the reports of your Treasurer and the Chairmen of your standing committees on Admissions, Membership, Papers and Publications, and Library for the calendar year 1931. To these reports you are referred for further details of the year's activities. Finances.-Depressed industrial conditions prevailing throughout the year were reflected in a substantial decline in current revenue. Aside from interest on sundry special funds (but including that from the Life Membership, Library, and General Reserve Funds) total receipts amounted to $168,274, compared with $194,636 in 1930. The principal items of decrease were $17,000 in advertising income from the monthly magazine MINING AND METALLURGY, and about $9,600 in dues and initiation fees. Of this shrinkage $4,000 is accounted for by decrease in the number of new members enrolled; and $5,600 by diminished income from current dues and arrearages. This naturally has coincided with an \ increase in delinquency and "drops" or suspensions for nonpayment of dues. The decline in advertising income, amounting to 38 per cent as compared with that of 1930, in general paralleled the experience of all technical and trade publications; and it is problematical whether 1932 will show as large a return from advertising as did 1931.