The gross surplus for the year, $1660.02, indicates the thoroughly sound condition of the Association's finances. This is about a thousand dollars larger than the surplus from the operations of the preceding year. It is likely that this amount will be somewhat reduced by reason of defaulted membership dues. A reserve of $500 is set aside for that purpose in the subjoined statements of the Auditing Committee, thus reducing the net surplus to $1160.02. The total income was only slightly larger than in the preceding year. But the Managing Editor was able to effect a saving of about $500 in the cost of publishing the American Economic Review, and the omission of the Handbook from the publications for the year was responsible for a further saving. Respectfully submitted, ALLYN A. YOUNG, Treasurer. Ithaca, N. Y., December 22, 1915. To the American Economic Association: An audit in detail of the accounts of the Secretary-Treasurer of the Association, for the fiscal year ended December 17, 1915, has been made by assistants under the direction of your committee. The accompanying statement of income and outgo, balance sheet, and exhibit of charges and credits to surplus, are in our opinion correct, and we certify that the ledger accounts are in full agreement with the balance sheet here presented. Very respectfully, DONALD ENGLISH, ABBOTT PAYSON USHER, Auditing Committee. BALANCE SHEET Liabilities .... Reserves: Membership Dues Prepaid.. Defaulted Membership Dues Receivable ..$475 $41.67 331.00 ... For Bad Accounts 412's of 1923.. 2000 ..... Receivable 25 500.00 7978.08 1 Amount due from members who have been dropped during past year, for publications furnished during the year, REPORT OF THE MANAGING EDITOR OF THE AMERICAN ECONOMIC REVIEW FOR THE YEAR ENDING DECEMBER, 1915 The cost of the Review during the past year has been $7,003.64 as compared with $7,531.34 for the year 1914. By principal items the cost has been as follows: The total number of pages printed was 1003 as compared with 1080 in the preceding year. There have been 16 leading articles, a few less than usual; and the amount of space given to listing of new books has been considerably less, due to the falling off of publication in Europe. On the other hand, the number of pages given to documents, reports, and legislation has increased. In all, 164 persons have coöperated in writing for the Review, contributing leading articles, reviews, document notes, and periodical abstracts. A few changes have taken place in the staff of abstract coöperators, as follows: Dr. Julius H. Parmelee has prepared abstracts on the subject of railways, formely in charge of Professor E. R. Dewsnup; Mr. Martin J. Shugrue has succeeded Dr. John Bauer in the abstracting of articles on accounting; Professor Ralph E. Heilman has prepared abstracts in the field of public utilities; Professor Charles P. Huse has taken over the section of public finance resigned by Dr. Williamson; Professor A. S. Dewing has abstracted articles on investments and on corporations and trusts; Professor Henry R. Mussey has resigned as abstractor of articles on tariffs and reciprocity. The following have served on the board of editors: Professor Clive Day and Professor H. J. Davenport, whose terms expire with 1917; Professor F. A. Fetter and Professor H. E. Mills, whose terms expire with 1916; and Dr. H. B. Gardner and Dr. J. L. Coulter, whose terms expire with 1915. Appended are comparative tables showing the distribution of contents and costs by principal group items, in continuation of tables given in the report for last year. |