REPORT OF THE TRUSTEES OF THE CARNEGIE AND ENDOWMENT FUNDS
Reading edition
To the President and Members of the American Library Association:
The Trustees of the Endowment Fund of the American Library Association beg leave to submit the following statement of the accounts of their trust—the Carnegie and General Funds—for the fiscal year ending January 15, 1913.
There has been no change in the investments, and all interest has been promptly paid. The Trustees are pleased to call attention to the credit to the General Endowment Fund of nine life memberships, and would recommend that more of such memberships be taken as they are about the only source of addition to that Fund.
On January 31, 1913, the usual audit of the investments and accounts of the trust was made by Mr. E. H. Anderson, of the New York public library at the request of the chairman of the Finance committee of the Association. As evidence of the audit, Mr. Anderson furnished the Trustees with the following copy of his report made to the Finance committee:
Feb. 1, 1913.
My dear Mr. Andrews:
Yesterday, January 31st, I went to the vaults of the Union Trust Company at Fifth avenue and Thirty-eighth street, this city, and with Mr. Appleton and Mr. Kimball, trustees of the endowment fund of the American Library Association, checked up the bonds now in their custody. I enclose herewith their typewritten statement concerning the funds in their hands, and I certify to the correctness of the figures as to the bonds on hand. These I have checked in black ink after a personal count of them at the vaults aforesaid. At their par value they amount to $102,500 for the Carnegie Fund, and $7,000 for the general endowment fund.
I have not examined the bank book of the trustees nor the vouchers for the amounts transmitted to Mr. Roden, the treasurer. Mr. Roden's records should verify the amounts transmitted to the treasurer. If you think it worth while I can examine the bank book of the trustees, but personally I do not think it necessary. If you feel that it should be done, however, return the enclosed typewritten statement for comparison with the bank book. Mr. Roden will also be able to check the receipts for life members. I think Mr. Appleton said that two more had been received since January 15th.
I hereby certify that to the best of my knowledge and belief all of the accounts on the typewritten sheets enclosed herewith are correct.
Very sincerely yours,
(Signed) E. H. ANDERSON. Respectfully submitted, W. W. APPLETON, W. C. KIMBALL, W. T. PORTER, Trustees Endowment Fund A. L. A.
May 1, 1913.
CARNEGIE FUND, PRINCIPAL ACCOUNT
Cash donated by Mr. Andrew Carnegie $100,000.00
Invested as follows:
June 1, 1908 5,000 4% Amer. Tel. & Tel. Bonds 96½ $ 4,825.00
June 1, 1908 10,000 4% Amer. Tel. & Tel. Bonds 94-3/8 9,437.50
June 1, 1908 15,000 4% Cleveland Terminal 100 15,000.00
June 1, 1908 10,000 4% Seaboard Air Line 95½ 9,550.00
June 1, 1908 15,000 5% Western Un. Tel. 108½ 15,000.00
June 1, 1908 15,000 3½% N. Y. Cen. (Lake Shore Col.) 90 13,500.00
June 1, 1908 15,000 5% Mo. Pacific 104-7/8 15,000.00
May 3, 1909 15,000 5% U. S. Steel 104 15,000.00
Aug. 6, 1909 1,500 U. S. Steel 106-7/8 1,500.00
July 27, 1910 1,000 U. S. Steel 102½ 1,000.00
102,500 99,812.50
Jan. 15, 1913 Union Trust Co. on deposit 187.50
$100,000.00
In addition to the above we have on hand at the Union Trust Company $150 profit on the sale of the Missouri Pacific Bonds, which we have carried to a special surplus account.
CARNEGIE FUND, INCOME ACCOUNT
1912
January 15, Balance $1,524.33
February 6, Int. N. Y. Central 262.50
May 1, Int. U. S. Steel 437.50
May 10, Int. Cleveland Terminal 300.00
May 31, Int. Mo. Pacific 375.00
May 31, Int. Seaboard Air Line 200.00
July 2, Int. Amer. Tel. & Tel. 300.00
July 2, Int. Western Un. Tel. 375.00
August 8, Int. N. Y. Central 262.50
September 3, Int. Seaboard Air Line 200.00
September 3, Int. Mo. Pacific 375.00
November 1, Int. U. S. Steel 437.50
November 1, Int. Cleveland Terminal 300.00
December 31, Int. Union Trust 39.90
1913
January 2, Int. Western Un. Tel. 375.00
January 15, 1913 Cash on hand 934.90 $6,064.23
Disbursements:
1912
January 24, Carl B. Roden, Treas. $1,524.33
June 4, Carl B. Roden, Treas. 1,575.00
September 18, Carl B. Roden, Treas. 500.00
October 28, Rent Safe Deposit Co. 30.00
November 18, Carl B. Roden, Treas. 1,500.00
January 15, 1913, Cash on hand 934.90 $6,064.23
ENDOWMENT FUND, PRINCIPAL ACCOUNT
1912
January 15, On hand, Bonds and Cash $7,286.84
February 28, Life membership, C. N. Baxter 25.00
March 28, Life membership, L. A. McNeil 25.00
March 28, Life membership, A. B. Smith 25.00
May 4, Life membership, H. L. Leupp 25.00
May 28, Life membership, W. M. Smith 25.00
May 28, Life membership, L. E. Taylor 25.00
July 2, Life membership, E. P. Sohier 25.00
September 18, Life membership, M. R. Cochran 25.00
November 1, Life membership, S. C. Fairchild 25.00
$7,511.84
Invested as follows:
1908
June 1, 2 U. S. Steel Bonds 98½ $1,970.00
October 19, 2 U. S. Steel Bonds 102-5/8 2,000.00
November 5, 1½ U. S. Steel Bonds 101 1,500.00
1910
July 27, 1½ U. S. Steel Bonds 102½ 1,500.00
January 15, 1913 Cash on hand, Union Trust Co. 541.84 $7,511.84
ENDOWMENT FUND, INCOME ACCOUNT
1912
January 15, Cash on hand $175.00
May 1, Int. U. S. Steel 175.00
November 1, Int. U. S. Steel 175.00 $525.00
Disbursements:
1912
January 24, Carl B. Roden, Treas. $175.00
June 4, Carl B. Roden, Treas. 175.00
January 15, 1913 Cash on hand 175.00 $525.00