REPORT OF THE TREASURER.

THE Treasurer of the American Antiquarian Society herewith submits his annual report of receipts and expenditures to October 7, 1904.

There has been carried to the several funds from the income of the past year, five per cent. on the amount of the same October 1, 1903, leaving a balance in the Income Account of $146.94.

For the first time since he has had charge of the funds of the Society he regrets to be obliged to report a loss of $1,000. Nearly two years ago the Citizens National Bank of Worcester went into voluntary liquidation, and it was found, to the great surprise of the stockholders, that the stock was practically worthless, and it was considered fortunate that they were not called upon for an assessment on their stock. It is proper to state that this stock had been owned by the Society for more than fifty years, and had up to about two years ago, paid very satisfactory dividends.

Unfortunately the Finance Committee had no opportunity to dispose of the stock before the liquidation of the bank was known. It is gratifying to note, however, that the market value of our stocks and bonds is several thousand dollars over the amount carried on the books of the treasurer. The total amount of securities and cash as shown is $149,867.87, the market value of which is over $13,000 more.

The total of the investments and cash on hand October

7, 1904, was $149,867.87. It is divided among the several funds as follows:

The cash on hand, included in the following statement, is $891.59.

The detailed statement of the receipts and disbursements for the year ending October 7, 1904, is as follows: