1928, 13 pp.; reprinted from the Journal of American Education, vol. 5, No. 7, July, 1928, pp. 882-884; and vol. 5, No. 8, August, 1928, pp. 1005-1014). A comparison of the data of this report with the data of previous reports shows a steady increase in the number of graduate students in about 125 American colleges and universities reporting who are undertaking research in the various fields of chemistry-1,700 in 1924; 1,763 in 1925; 1,882 in 1926; and 1,934 in 1927. The fifth census of graduate students in chemistry is now in preparation. The publication of Doctorates Conferred in the Sciences by American Universities, 1927-28 (compiled by Callie Hull and Clarence J. West; Reprint and Circular Series No. 86, National Research Council, October, 1928, 38 pp.), is a continuation of a similar summarization which the research information service has made annually for the past ten years. The statistics compiled for this year indicate a total of 833 doctorates conferred in 1927-28 by 51 institutions in 19 branches of the natural sciences, against a total of 330 degrees conferred in 1919-20. A special excerpt of these data has been made for the Doctorates Conferred in Chemistry by American Universities, 1927-28, for publication in the Journal of Chemical Education (vol. 5, pp. 1450-1463; 1928); and another excerpt for the Doctorates Conferred in the Medical Sciences by American Universities, 1927-28, for publication in the Archives of Pathology and Laboratory Medicine (1928). Similar compilations are under preparation for the academic year, 1928-29. The research information service has also edited the third volume of the Annual Survey of American Chemistry, 1927-28, prepared under the auspices of the division of chemistry and chemical technology of the council. REPORT OF THE TREASURER The disbursements of the National Research Council under the authority of the National Academy of Sciences during the year ended June 30, 1929, amounted to $1,019,805.30, of which $129,864.36 represented purchase of bonds for temporary investment, leaving net expenditures for other purposes of $889,940.94. Sales of bonds held for temporary investment amounted to $74,502.17. Interest received on temporary investments amounted to $12,894.70 of which $10,684.53 was credited to National Research Council, $470.29 to International Critical Tables, $1,234.46 to Tropical Plant Research Foundation, $238.13 to Bibliography of Economic Geology, and $267.29 to unappropriated fund special. The investment reserve fund on June 30, 1929, stood at $5,540, the same as last year. This sum is held as a guaranty against loss by the council on the sale or calling of bonds. The book value of bonds held by the council on June 30, 1929, was $286,878.73. The following table shows the current interest yield on these bonds, according to the valuation used: The agreement between the Tropical Plant Research Foundation. and the National Research Council, begun in 1924, has continued during the past year, and funds amounting in all to $97,218.50 have been received by the Research Council for the work of the fifth year in an investigation of the diseases of sugarcane and methods of eradication, and kindred researches. During the year ended June 30, 1929, the income available for general maintenance expenses of the council and of the academy was $177,500, being 5 per cent on the endowment fund of $3,550,000 contributed or held by the Carnegie Corporation of New York. Of this $177,500, the sum of $50,000, equivalent to 5 per cent on $1,000,000 of the endowment, was appropriated for the maintenance of the building and grounds, leaving only $127,500, the equivalent of 5 per cent on $2,550,000 of the endowment, for the general maintenance expenses of the National Research Council. The appropriations for the council during that year totaled $173,540, or $46,040 more than the income from the source mentioned, the excess appropriations being made from surplus funds accumulated during the past 10 years arising from sale of publications, interest on temporary investments, reversions of unexpended appropriations, and a contribution of $25,000 per year over a period of 5 years, which expired some years ago and has not been renewed. The appropriations for the council for the year beginning July 1, 1929, amounted to $172,570, or $45,070 more than the income on the endowment, thus further depleting the surplus, of which practically nothing will remain on June 30, 1931, if the present rate of appropriations is maintained. At that time it will be absolutely necessary to do one of two things-either to reduce appropriations for the council to the order of $127,500 per year or else find additional endowment to the extent of $1,000,000 or more. I therefore suggest that steps be taken soon to increase the endowment in order to prevent impairment of the efficiency of the council, which must certainly follow if appropriations on the present order are greatly reduced. In this connection it should be pointed out that, while the activities of the council have greatly increased in recent years as shown by the expenditure of large sums secured from sources outside of the endowment fund, and none of which is available for the general maintenance expenses of the council, the fund available for expenses of the council has actually decreased. In the year ended June 30, 1922, the Carnegie Corporation of New York paid over to the council for general maintenance expenses $185,000, from which it was necessary to appropriate only about $15,000 for the maintenance of a rented building, leaving $170,000 available for the general maintenance expenses in that year compared with $127,500 available for similar expenses in the year just closed, a decrease of $42,500 a year or an even 25 per cent. During the fiscal year ended June 30, 1929, the activities of the council were supported by funds from various sources, of which the principal are listed below: (1) From the Carnegie Corporation of New York: For general maintenance expenses of the National Research Council. From the Carnegie endowment fund: For general maintenance expenses of the National Research Council... The above contributions represent practically the only money available to the Research Council for general maintenance expenses. The Research Council has disbursed in addition other funds contributed by a large number of organizations and individuals for specific purposes named by the donors. The diversity of these researches is indicated by the following list and the disbursements for such purposes are several times larger than the expenditures for general maintenance. (2) From the Rockefeller Foundation: $96, 875. 33 18, 000. 00 114, 875. 33 For National Research fellowships in physics, chemistry, 48, 811. 25 82, 224. 98 33, 061. 31 21, 941. 45 21233) 39, 636. 21 For the same purpose, year 1929 (M. E. 28137) - - - - - 28, 514. 24 21228) 30, 644. 78 For the same purpose, year 1929 (M. E. 21228). For fellowships in anthropology and psychology, 1928-29. Total from the Rockefeller Foundation....... 29, 695. 37 900.00 25, 000, 00 340, 429. 59 (3) From the General Education Board: For Rosenwald fellowship, year 1929. Total from the General Education Board............ 1,250.00 1, 250. 00 2,500.00 (4) From the Laura Spelman Rockefeller Memorial: For committee on child development, year 1928-29. For physical causes of deafness, year 1926_ For conference on child development, year 1929–30...... Total from the Laura Spelman Rockefeller Memorial. (5) From the International Education Board: For research fellowships in physics, chemistry, and mathe- For biological fellowships. For biological fellowships, year 1928-29_ For astronomical research surveys.. For foreign research fellowships in physics, chemistry, and mathematics, year 1929_ For foreign biological fellowships, year 1929. Total from the International Education Board.____ (6) From the Chemical Foundation: For standardization of biological stains... (7) From an organization for research in problems of sex, year 1928... For the same purpose, year 1929. $9.00 7,000. 00 3, 000. 00 20, 000. 00 3, 251. 53 4, 000. 00 37, 260. 53 29, 654. 34 275.00 7,784.00 5, 000. 00 10, 688. 00 8, 674. 14 62, 075. 48 9, 600.00 2,732. 31 71, 554. 75 Total__ 74, 287. 06 (8) From various organizations for the Highway Research Board. 14, 809. 39 (9) From various organizations for Tropical Plant Research Foundation.......... 97, 218. 50 (10) From various organizations for work to be conducted in co- For gumming characteristics of motor fuels. For acoustic properties of steel plates.. For investigation on insulating liquids. For American Section, Internationl Union of Scientific Radiotelegraphy....... Total..... 5, 000. 00 250.00 1, 567. 93 150. 00 2,500. 00 3, 000. 00 24, 808. 93 For ascariasis in children... For committee on drug addiction, year 1929_- For National Livestock and Meat Board fellowships---- For national committee on botanical nomenclature.. For pharmaceutical researches.. For biological abstracts, 1929. For effects of radiation on living organisms. For national intelligence tests.... For visual limitations for motorists.. For child development abstracts.. For international critical tables... For royalties, international critical tables. For annual tables............ Total receipts during the year from all sources. $1,500.00 200. 05 14, 745. 29 2, 000. 00 2, 176. 64 7, 272. 94 38, 544. 46 5, 000. 00 5, 291. 14 1,025, 239, 71 Receipts and disbursements National Research Council from July 1, 1928, to June |