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At its meeting on February 21, 1933, the Board of Directors the following resolution defining and expressing the policy of the Institute with respect to official participation or action in controversial matters: WHEREAS, the Board of Directors at its last meting passed the following resolution: "The Board of Directors, having been appealed to by several Local Sections for advice concerning the attitude and policy of the Institute relating to the endorsement of candidates for public office, the following statement of policy is formulated:

Jan 1, 1939

By PERCY E. BARBOUR

TWO YEARS after its organization, the Institute issued its first volume of TRANSACTIONS, covering activities that began in May, 1871, and continued through February, 1873. The preface of this first volume reads: The present volume contains the rules of the Institute, a list of members and associates, an abstract of the proceedings of the-first two years, and a number of papers selected from those proceedings. There is, therefore, nothing new in it. The papers have all been published, according to the custom of the Institute, in the Engineering and Mining Journal, and many of them have been copied into other periodicals. They are republished here, solely to enable members and associates to preserve them in convenient form. Various considerations have determined the selection of papers for this purpose. Some have been omitted at the request of the authors who, having modified the views expressed in them, naturally deprecated a republication of those views. Others have been omitted, in order not to devote too large a proportion of space to single topics, or single branches of mining or metal¬lurgy, in view of the fact that the membership of the Institute extends throughout the whole country, and represents numerous departments of these industries. Some, on the other hand, have been chosen, although not laying claim to special originality, because they contained information of importance, not easily accessible elsewhere, the presentation of which, in a form convenient for reference, was generally desired.

Jan 1, 1921

TO THE BOARD OF DIRECTORS AND THE MEMBERS OF THE AMERICAN INSTITUTE OF MINING AND METALLURGICAL ENGINEERS GENTLEMEN: Herewith are submitted the report of the Treasurer for the year 1936 and the reports for the same year of the following committees: Admis¬sions, Membership, Papers and Publications, Library, Student Relations, and MINING AND METALLURGY. To these reports you are referred for details of the year's activities. Finances.-Income for the year was $173,091 including an appropria¬tion of $2500 from the Rocky Mountain Fund earmarked to defray expense for official visits to western Sections and student societies. This compares with $141,754 in 1935 and exceeds by more than $50,000 the income of 1933 wherein the low point during the depression was reached. The major items of increase were: $6,700 from current dues; $10,600 in initiation fees and dues of newly enrolled members; $10,800 from the monthly magazine MINING AND METALLURGY. Sundry small declines were offset by minor increases. Expenditures for the year totaled $176,007 compared with $148,361 in 1935. Major increases were $5,700 for MINING AND METALLURGY; $4,000 for TRANSACTIONS and TECHNICAL PUBLICATIONS; $1,500 for meetings; $1,300 for Local Section appropriations; $6,500 for Technical Division expense; $5,000 for Increase of Membership expense; and $2,500 for visits to Local Sections and educational institutions. Comment on several of these items will appear under subsequent heads. Net deficit for the year was $2,915, this sum being made up from the accumulated surplus. It is interesting to observe that the net excess of income over outgo for the five-year period 1932-1936, inclusive, is $760. Membership and Dues.-During the year there was a net gain in membership, including Members, Associates, Junior Members and Junior Foreign Affiliates of 755 (from 7116 to 7871). In addition there was a gain of 616 in Student Associates (from 1004 to 1620). Taking account of small losses totaling 5 in the other grades, the net increase was 1366 bringing the total to 9607, the highest figure reached in the history of the Institute except at the end of 1921 when the total was 9850. In part the gain is accounted for by the smaller number lost by suspension

Jan 1, 1937

TO THE BOARD OF DIRECTORS AND MEMBERS OF THE AMERICAN INSTITUTE OF MINING AND METALLURGICAL ENGINEERS GENTLEMEN Submitted herewith are the report of the Treasurer for the year 1937 and the reports for the same year of the following standing committees: Admissions, Membership, Papers and Publications, Library, Student .Relations, Speakers for Local. Sections and Student Societies, and Mining and Metallurgy. To these reports members are referred for further details. Finances.-Income for the year was the largest since 1930, the figure being $189,394, an increase of $18,803 compared with income for 1936, exclusive of a special Rocky Mountain Fund appropriation of $2500 in that year for visits to western schools and Local Sections. Major items of increase were: $8,000 from current dues and arrears; $7,700 from advertising in MINING AND METALLURGY and the two periodical "Technologies"; and $4,800 from sales of TECHNICAL PUBLICATIONS (pamphlets) and TRANSACTIONS volumes for both current and former years. Initiation fees and clues from new members declined $2,300, principally because of the larger 'proportion of Junior Members to Members among the new enrollments. Junior Members pay no initiation fee and dues are $10 compared with $15 for Members.

Jan 1, 1938

GENTLEMEN Submitted herewith are the report of the Treasurer for the year 1938 and reports for the same year of the following standing committees: Admissions, Membership, Papers and Publications, Mining and Metal¬lurgy (Magazine), Library, Speakers for Local Sections and Student Societies, and Student Relations. To these reports members are referred for further details. Membership.-The end of the year 1938 saw Institute membership at an all-time peak: 12,474, made up of 2898 Student Associates and 9576 members of other classifications. The next highest level had been reached at the end of 1921 when corresponding figures were: total, 10,329; student members, 1450; all other classifications, 8879. The net gain for the year was 1495, of which 751 were Student Associates and 744 in the other categories. Two factors contribute to the growth of membership: (1) the enrolment of new members; and (2) the retention of members already on the roll as reflected in a relatively small number of resignations and suspensions for nonpayment of dues. For the first, much credit goes properly to the general Membership Committee that functioned for a second year under the chairmanship of Clyde E. Williams. With the cooperation of Institute members in general, to whom Mr. Williams expresses appreciation in his report, the Committee has been successful in acquainting eligible nonmembers with the purposes, activities and advantages of the Institute. The result has been the receipt during the year of 1162 applications, exclusive of Student Associates. This compares with 1212 during 1937 and 1266 during 1936. However, in considering this modest decline, account must be taken of the somewhat less prosperous conditions prevailing in the mineral industries and, consequently, among engineers engaged ?in those industries.

Jan 1, 1939

GENTLEMEN: Submitted herewith are the report of the Treasurer for the year 1940 and reports for the same year of the following standing committees: Admissions, Membership, Pa¬pers and Publications, Mining and Metal¬lurgy (Magazine), Library, and Student Relations. These reports present additional details. MEMBERSHIP For the third year in succession member¬ship reached a new high level for all time, as indicated in the accompanying tabula¬tion in which "Members" includes all categories except Student Associates.

Jan 1, 1941

TO THE BOARD OF DIRECTORS AND MEMBERS OF THE AMERICAN INSTITUTE OF MINING AND METALLURGICAL ENGINEERS. GENTLEMEN: Submitted herewith are the report of the Treasurer for the year 1941 and re¬ports for the same year of the following standing committees: Admissions, Mem¬bership, Papers and Publications, Mining and Metallurgy (Magazine), Library, and Student Relations. These reports present additional details. Membership For the fourth year in succession, mem¬bership reached a new all-time high, level as shown in Table 1. The total at the

Jan 1, 1942

To THE BOARD OF DIRECTORS AND MEMBERS OF THE AMERICAN INSTITUTE OF MINING AND METALLURGICAL ENGINEERS. GENTLEMEN Like every other significant activity in the United States today, the work of the Institute has been affected by and adjusted to the prosecution of war against Germany, .Japan and their satellites. As the elaborate engines and materiel of modern mobile warfare are made, for the most part, of metals and other minerals; and are powered by mineral fuels, the industries -represented by the A.I.M.E. are of primary and vital importance. Of some 29 critical materials officially listed by the War Production Board, 24 are minerals. An alternate for one of the others, rated as a nonmineral, is to be made principally from petroleum. This alludes, of course, to rubber. The procurement of tremendous quantities of such raw materials and the effective processing, fabrication, and utilization of them depend on members of those branches of the engineering profession represented by the A.I.M.E.

Jan 1, 1943

TO THE BOARD OF DIRECTORS AND MEMBERS OF THE AMERICAN INSTITUTE OF MINING AND METALLURGICAL ENGINEERS GENTLEMEN: Submitted herewith are the report of the Treasurer for the year 1945 and reports for the same year of the following standing committees: Membership, Admissions, Papers and Publications, Mining and ' Metallurgy (Magazine), and Library. To these reports you are referred for additional details. Membership Membership, counting all categories other than Student Associateship, continues the upward trend of the last 10 years, reaching a total, as shown in Table 1, of 12,081. The net gain of 406 would

Jan 1, 1944

TO THE BOARD OF DIRECTORS AND MEMBERS Of THE AMERICAN INSTITUTE OF MINING AND METALLURGICAL ENGINEERS GENTLEMEN Submitted herewith are the reports of the Treasurer for the year 1947 and the reports of the following standing committees Membership, Admissions, Papers and Publications, MINING AND METALLURGY (Magazine), and Library 75th Anniversary Celebration The founding of the Institute at Wilkes-Barre, Pa, in 1871, vas appropriately commemorated by a three-day Celebration, March 17, 18 and 19, 1947, at The Waldorf-Astoria, in New York City The Celebration had been scheduled for the preceding September but had been postponed, perforce, because of conflict with meetings of the Assembly of the United Nations The Celebration immediately preceded the Annual Meeting which was deferred from the usual February dates The proceedings took the form of a "World Conference on Mineral Resources " More than three thousand people, including eight hundred ladies, participated in the proceedings in one way or another Twenty-eight foreign countries were represented, some of them by five or six individual delegates Likewise, official representatives were designated by fifty institutions of higher learning in the United States A special 820-page Anniversary Volume entitled "Seventy-five Years. of Progress in the Mineral Industry,".(which

Jan 1, 1952

TO THE BOARD OF DIRECTORS OF THE AMERICAN INSTITUTE OF MINING AND METALLURGICAL ENGINEERS Gentlemen -The Institute was founded 54 years ago "with the object of promoting the arts and sciences connected with the economic production of the useful minerals and metals and the welfare of those employed in these industries by means of meetings for social intercourse and the reading and discussion of professional papers, and to circulate by means of publications among its members and associates the information thus obtained" At least once a year it is well to take stock of our assets, review our performance and determine how well we are now carrying out the purposes of our Founders There can be no question as to the work the Institute has done and is doing in promoting the arts and sciences in the fields of mining and metallurgy One needs only to contiast the methods, the labor and the costs of a half century ago with those now to visualize how far we have gone in the development of accurate technology and sound economics in mineral and metal production The great mines, mills and smelters of the present, handling individually thousands of tons per day, would have been impossible except for the accumulation of knowledge, the development of theory, and the improvement in practice that has charac¬terized the period since the foundation of the Institute The United States has prospered in the last half century greatly, and this has been due not merely to the possession of great natural resources, but to these resources being reduced to possession and put to work The absence of customs barriers and the freedom of trade across the whole width of this great continent has been an important factor in the growth of our wealth Unrestricted interchange of goods has permitted each citizen to draw on the resources of the whole country However, these are but subsidiary causes of prosperity The free interchange of scientific and technical data, by making the whole body of facts and theory available to each worker, has made this quick and unrivaled development possible In promoting this free trade in knowledge the Institute may claim a large place without fear of denial The 72 volumes of TRANSACTIONS, the special volumes, the bulletins and the other pub¬lications that have been issued, include a store of knowledge of the arts and sciences related to the pioduction and use of metals and minerals not duplicated elsewhere The large list of foreign members-1746 in number-few of whom ever have opportunity to attend meetings and all of whom derive their main benefits from membership through the pub-

Jan 1, 1923

TO THE BOARD OF DIRECTORS AND THE MEMBERS OF THE AMERICAN INSTITUTE OF MINING AND METALLURGICAL ENGINEERS Gentlemen -It is pleasant to be able to report that the year just closed has been a prosperous and successful one for the Institute As is shown by the reports of the Treasurer and the Finance Committee, the business affairs of this organization are in excellent condition With property valued at more than three-quarters of a million dollars, and with con¬siderable sums in various funds and endowments, it is possible to spend on each member of whatever class $22 65 each year, more than the maxi¬mum amount of dues received from any one, and substantially twice the average amount, $10.94, received from all To do this has required close management and a strict regard for our limitations In 1926, when the Budget was made up, the estimated expenditures for the work which it was felt the Institute must do exceeded the estimated receipts by some $14,000. At the close of the year, despite a` number of unexpected decreases in receipts, it had proved possible to accomplish substantially all the work laid out and close the books with the usual transfer of initia¬tion fees to the General Reserve, and still only reduce the cash balance $2,074 54. This was made possible by the hearty and loyal cooperation of the whole staff of employees and the extremely large amount of gratui¬tous service rendered by the officers, the members of the Divisions and technical Committees, and the membership generally Even so it was impossible, because of limitations of funds, to undertake many things it is highly desirable for the Institute to do, and it was necessary to refuse the publication of important papers and committee studies, because of the lack of funds.

Jan 1, 1923

Secretary Membership Committee Increase of Membership Papers and Publications Committee Library Committee Treasurer Report of the Secretary TO THE BOARDOF DIRECTORASN D THE MEMBEROS F THE AMERICANIN STITUTE OF MINING AND METALLURGICAENL GINEERS GENTLEME:N As will be shown by the special reports of the Finance, Membership, Library, Papers and Publications, Increase of Membership, and other standing Committees, together with that of the Treasurer, the year 1927 was one in which the Institute made very satisfactory progress in a number of directions. In total numbers the membership is no larger but in revenue from dues there has been a marked increase. This has been due to the promotion to full membership of Junior Associates of earlier years, to the larger proportion that come in originally as members rather than juniors, and to the keener interest in the work of the Institute reflected in prompter payment of dues. The latter is important, since experience shows that of those who fall behind a large number must ultimately be dropped for non-payment. Conditions in the mining industries have been healthy though not booming. It has been much easier for members to find employment and meet their financial obligations but there has not been that flow of young men into mining, and hence in part into the Institute, that characterized certain earlier years. Rather the tendency toward centralization and larger industrial units has restricted the number, though not the scope, of opportunities for technical men in the mineral industries. The Institute is constantly receiving resignations from members crowded out of mining into other lines of activity. On the other hand, those who remain in mining and metallurgy have a greatly increased necessity for i,dormation and contacts with technology. A few years ago many superintendents and most foremen were non-technical men. Today the reverse rule obtains and shift bosses and men who occupy even lower positions in industrial units are called upon to know and to apply such an amount of technical knowledge that graduate engineers are the rule rather than the exception. The curious situation has obtained that with a much smaller enrolment of students in the schools of mining and metallurgy there has been at times an actual shortage of young engineers for beginners' jobs. The young men retort that the conditions of employment and pay offered in mining are not equal to those in other lines and, while it is undoubtedly true that the young engineer beginning in mining is able to start under conditions markedly better as to pay, living, and responsibility than did the men who are now leaders, they are required to know much more and have usually spent more in time and money to qualify for their jobs. The whole matter is one which warrants much more attention than has been given to it. For the Institute it is important since the young men

Jan 1, 1928

Report of the Secretary TO THE BOARD OF DIRECTORS AND THE MEMBERS OF THE AMERICAN INSTI¬TUTE OF MINING AND METALLURGICAL ENGINEERS GENTLEMEN As will be shown by the special reports of the Finance, Membership, Library, Papers and Publications, Increase of Membership, and other standing Committees, together with that of the Treasurer, the year 1927 was one in which the Institute made very satisfactory progress in a number of directions. In total numbers the membership is no larger but in revenue from dues there has been a marked increase. This has been due to the promotion to full membership of Junior Associates of earlier years, to the larger proportion that come in originally as members rather than juniors, and to the keener interest in the work of the Institute reflected in prompter payment of dues. The latter is important, since experience shows that of those who fall behind a large number must ultimately be dropped for non-payment. Conditions in the mining in¬dustries have been healthy though not booming. It has been much easier for members to find employment and meet their financial obligations but there has not been that flow of young men into mining, and hence in part into the Institute, that characterized certain earlier years. Rather the tendency toward centralization and larger industrial units has re¬stricted the number, though not the scope, of opportunities for technical men in the mineral industries. The Institute is constantly receiving resignations from members crowded out of mining into other lines of activity. On the other hand, those who remain in mining and metal¬lurgy have a greatly increased necessity for information and contacts with technology. A few years ago many superintendents and most foremen were non-technical men. Today the reverse rule obtains and shift bosses and men who occupy even lower positions in industrial units are called upon to know and to apply such an amount of technical knowl¬edge that graduate engineers are the rule rather than the exception. The curious situation has obtained that with a much smaller enrollment of students in the schools of mining and metallurgy there has been at times an actual shortage of young engineers for beginners' jobs. The young men retort that the conditions of employment and pay offered in mining are not equal to those in other lines and, while it is undoubtedly true that the young engineer beginning in mining is able to start under conditions markedly better as to pay, living, and responsibility than did the men who are now leaders, they are required to know much more and have usually spent more in time and money to qualify for their jobs. The whole matter is one which warrants much more attention than has been given to it. For the Institute it is important since the young men

Jan 1, 1923

The 139th meeting* of the American Institute of Mining and Metallurgical Engineers was held at New York, February 17 to 20, 1930, the attendance totaling approximately 1800. The meeting consisted of the annual business session, 34 technical sessions at which were presented 166 papers, two meetings of the Board of Directors, two meetings of Section Delegates, two formal lectures and one special lecture, five group dinners and one group luncheon, luncheon daily for members and guests, fourteen committee meetings and conferences, the President's reception, the dinner-dance, an informal dance, a smoker, an exhibition of rare minerals and metals, two meetings of the Woman's Auxiliary and a special program of entertainment for the ladies. The Petroleum Division held seven sessions, including two general sessions featuring, respectively, a symposium on unit operation of oil pools and reports on developments in the petroleum industry during the previous year. The Iron and Steel Division held four sessions, at one of which Dr. Zay Jeffries delivered the Howe Memorial Lecture, the title of which was "The Future of the American Iron and Steel Industry." The Institute of Metals Division held six sessions, including two devoted to a symposium on the Melting and Casting of Metals, and the general session at which Dr. S. L. Hoyt delivered the annual Institute of Metals Lecture. The title of his lecture was "Hard Metal Carbides and Cemented Tungsten Carbide." The Coal and Coal Products Committee devoted one session and the greater part of another to Coal Classification and at a third session organized as the Coal Division of the Institute. The Committees on Mining Methods and Ground Movement and Subsidence each held a session, besides which they met jointly. Sessions were held by other Technical Committees as follows: Nonferrous Metallurgy, 1; Geophysical Prospecting, 2; Nonmetallic Minerals, 2; Milling Methods, 1; Rare Minerals and Metals, 1; Mining Geology, 2; Mine Ventilation, 2; Engineering Education, 1. At the annual business meeting on February 18, the following ticket was elected, and the reports of the President, Treasurer and Secretary were presented: William H. Bassett, President; Scott Turner, Vice-president; Henry Krumb, Vice-president; R. C. Allen, Cadwallader Evans, Jr., John M. Lovejoy, John A. Mathews and Milnor Roberts, Directors. At an executive session of the Directors on Tuesday afternoon, H. A. Guess was elected Vice-president to fill the vacancy created by the

Jan 1, 1930

Report of the Secretary GENTLEMEN Herewith are transmitted reports from the Treasurer and of the principal standing committees of the Institute. To these special reports members are referred for details as to the year's work. Despite the unfavorable business conditions obtaining throughout the year, the Institute was able to carry on its various activities without curtailment and without drawing on the surplus accumulated through previous years. In fact, small additions were made to the Life Membership and various other funds. It is highly desirable that such additions should continue to be made, especially to the Life Membership fund, for reasons reported last year. At present, money must be used from current receipts in order to enable the Institute to fulfill its obligations to those who on joining the organization commuted their dues by a single payment. In addition, with the passage of years the number increases of those who have paid dues forty years or more and who, by reason of age or disability, are unable longer to practise their profession. These men have supported the Institute through their active professional life and it would be a pity to lose them as members through resignation or for failure to keep up their dues. In accordance with the By-laws the Board has authority to advance such members, on application, to the Honor Roll of Senior Members and to relieve them from further payment of dues. It has been the policy of the Board to do this liberally, but to keep up this, as well as to meet other obligations, it is necessary for money to be provided. It has been estimated by the Treasurer that nearly $50,000 additional should be placed in the Life Membership fund as soon as possible to meet these obligations without using current income and to that end it is necessary, not only to avoid running behind currently but to earn, if possible, some surplus each year. The small amount transferred to the Life Membership fund from surplus this year was, as a matter of fact, made possible by certain members paying personally bills that were properly chargeable to the Treasury. Such generosity is common among those active in Institute work and probably no year would have closed with a surplus except for it.

Jan 1, 1929

GENTLEMEN Herewith are transmitted reports from the Treasurer and of the principal standing committees of the Institute. To these special reports members are referred for details as to the year's work. Despite the unfavorable business conditions obtaining throughout the year, the Institute was able to carry on its various activities without curtailment and without drawing on the surplus accumulated through previous years. In fact, small additions were made to the Life, Member¬ship and various other funds. It is highly desirable that such additions should continue to be made, especially to the Life Membership fund, for reasons reported last year. At present, money must be used from current receipts in order to enable the Institute to fulfill its obligations to those who on joining the organization commuted their dues by a single payment. In addition, with the passage of years the number increases of those who have paid dues forty years or more and who, by reason of age or dis¬ability, are unable longer to practise their profession. These men have supported the Institute through their active professional life and it would be a pity to lose them as members through resignation or for failure to keep up their dues. In accordance with the By-laws the Board has authority to advance such members, on application, to the Honor Roll of Senior Members and to relieve them from further payment of dues. It has been the policy of the Board to do this liberally, but to keep up this, as well as to meet other obligations, it is necessary for money to be provided. It has been estimated by the Treasurer that nearly $50,000 additional should be placed in the Life Membership fund as soon as possi¬ble to meet these obligations without using current income and to that end it is necessary, not only to avoid running behind currently but to earn, if possible, some surplus each year. The small amount transferred to the Life Membership fund from surplus this year was, as a matter of fact, made possible by certain members paying personally bills that were properly chargeable to the Treasury. Such generosity is common among those active in Institute work and probably no year would have closed with a surplus except for it.

Jan 1, 1923

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.

Jan 1, 1932

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.

Jan 1, 1932

Report of Secretary TO THE BOARD OF DIRECTORS OF AMERICAN INSTITUTE OF MINING AND METALLURGICAL ENGINEERS Gentlemen -I have the honor to present the following report for the calendar year 1920 The activities which-seem to call for special com¬ment are THE NEW FORM OF MAGAZINE MINING AND METALLURGY appeared every month during the calendar year and has been developed until it contains some ten departments It has brought forth more commendatory letters than have been received at headquarters on any other subject throughout the year Less than a dozen letters unfavorable to the change have been received, and the indications are that the magazine has met a want deeply felt, especially by members distant from headquarters The technical papers printed by the Institute are published in abstract in the magazine and opportunity is given to members who desire them to receive full copies of any or all papers published The Bound Volumes, as usual, contain all the papers in full and discussions thereof FINANCES The greatly increased cost of paper and printing has put a tremendous burden on the Institute's finances, since the dues of $12 per year are only 20 per cent greater than the members paid when the Institute was founded forty-nine years ago This has resulted in a temporary deficit, similar to that encountered by many of our sister engineering societies The fact that our Institute has lower dues and gives more in the way of publications to its members than any other of\the national engineering societies has rendered the situation more difficult for us MEETINGS The Annual Meeting in New York, the Field Meeting in the Lake Superior District, the meeting of the Petroleum and Gas members at St Lours, and of the Institute of Metals Division in Columbus, Ohio, have all been described in full in the magazine

Jan 1, 1923