SUMMARY OF DISBURSEMENTS Total amount transferred for investment (as per vouchers Nos. 59 and 138)....... Total amount paid out .... Net receipts for the year Total current expenses. Net balance for the year.. GENERAL SUMMARY The undersigned, Trustees of the National Educational Association, have this day examined and approved the foregoing accounts of William M. Davidson, Treasurer, with all statements of receipts and vouchers for disbursements. (Signed) A. G. LANE, Chairman. Executive Committee, National Educational Association of the United States: GENTLEMEN: In accordance with instructions received from Mr. A. G. Lane, chairman of the Board of Trustees, we have examined in detail the books and accounts of the National Educational Association of the United States, as kept by the Secretary, Irwin Shepard, and the Treasurer, William M. Davidson, for the year ending June 30, 1903. We have verified the Treasurer's report, submitted by Mr. Davidson at the meeting of the Association at Boston, Mass., which we certify to be in accordance with the books. We are pleased to be able to report that the books are correctly and carefully kept, and to state that in our opinion the system of bookkeeping and the check both on receipts and expenditure are very suitable to the needs of the Association. Yours respectfully, THE INTERNATIONAL AUDIT COMPANY. SEVENTEENTH ANNUAL REPORT OF THE BOARD OF TRUSTEES To the Board of Directors of the National Educational Association: The Board of Trustees presents the following report of the Permanent Fund of the National Educational Association, and its income, for the year ending June 30, 1903: Permanent Fund, July 1, 1902: Mortgages on real estate.... Kansas school and municipal bonds Illinois and Indiana school bonds Cash on hand for investment.. Total.. Received from William M. Davidson, Treasurer, from proceeds of Minneapolis meeting, and income from Permanent Fund.. Total. Permanent Fund, July 1, 1903: Mortgages on real estate Kansas school and municipal bonds. Illinois bonds... Total investments. Cash on hand for investment.... Total permanent fund. STATEMENT OF SECURITIES BELONGING TO THE PERMANENT FUND OF THE NATIONAL EDUCATIONAL ASSOCIATION, JUNE 30, 1903 Approved by the Board of Trustees and ordered transmitted to the Board of Directors. ALBERT G. LANE, Chairman, NICHOLAS MURRAY BUTLER, NEWTON C. DOUGHERTY, F. LOUIS SOLDAN. Board of Trustees. The foregoing securities (except those noted in my detailed report as being in process of collection thru the First National Bank of Chicago, Ill., and the Seward county, Kan., $1,000 bond in judgment) were examined at the National Safe Deposit Co. vaults, in the First National Bank building, in said Chicago, on Saturday, June 27, 1903, and I certify that the above is a correct statement of the investments belonging to the Permanent Fund of the National Educational Association in the custody of Albert G. Lane, chairman of the Board of Trustees. A detailed report on all the securities held was made by me to the Board of Trustees. *Interest or principal in default. (Signed) GEORGE E. ADAMS, Examiner. JOURNAL OF PROCEEDINGS OF THE FORTY-SECOND ANNUAL MEETING OF THE NATIONAL EDUCATIONAL ASSOCIATION BOSTON, MASS., JULY 6-10, 1903 FIRST DAY'S PROCEEDINGS OPENING SESSION.-MONDAY, JULY 6, 8 P. M. The forty-second annual session was opened in the auditorium of the Massachusetts Charitable Mechanics Association at 8 P. M. by President Charles W. Eliot. A choral, from Bach, was sung by the St. Cecilia Society― B. J. Lang, leader. Rev. Edward Everett Hale, D.D., asked a blessing and led the great audience in the Lord's Prayer. Brief addresses of welcome were delivered by Hon. John L. Bates, governor of the commonwealth of Massachusetts; Hon. Patrick A. Collins, mayor of the city of Boston; and Henry S. Pritchett, president of the Massachusetts Institute of Technology. Responses were made by Albert G. Lane, chairman of the Board of Trustees of the National Educational Association, Chicago, Ill.; and by Hon. W. T. Harris, United States Commissioner of Education, Washington, D. C. A "Jubilee Overture," Weber, was rendered by the orchestra under the leadership of Mr. B. J. Lang. The President's address, "The New Definition of the Cultivated Man," was delivered by the President of the Association, Charles W. Eliot, president of Harvard University. Andrew F. West, dean of the Graduate School, Princeton University, addressed the convention on "The Present Peril to Liberal Education." The following Committee on Resolutions was appointed by the President: The convention was called to order by President Eliot at 8 o'clock P. M. The topic for the evening was, "Manual, Trade, and Technical Education." Papers were read by Calvin M. Woodward, professor of mathematics and dean of the School of Engineering, Washington University, St. Louis, Mo.; Thomas M. Balliet, superintendent of schools, Springfield, Mass.; and Henry S. Pritchett, president of the Massachusetts Institute of Technology, Boston, Mass. After announcements, adjournment was taken to 8 o'clock Wednesday evening. THIRD DAY'S PROCEEDINGS THIRD SESSION.—WEDNESDAY, JULY 8, 8 P. M. The convention assembled at 8 o'clock, and was called to order by President Eliot. The President explained that a contest had arisen over the selection of a member of the Committee on Nominations from the state of Florida, and as the action of neither of the contesting delegations appeared to conform to the by-law governing such selection, he had, in accordance with his constitutional authority, appointed a member not belonging to either delegation. The general topic of the session, "School Gardens, City School Yards, and the Surroundings of Rural Schools," was discussed in papers presented by Orville T. Bright, principal of the James R. Doolittle School, Chicago, Ill.; Henry L. Clapp, principal of the George Putnam School, Boston, Mass.; Charles R. Skinner, state superintendent of public instruction, Albany, N. Y.; and W. W. Stetson, state superintendent of public education, Augusta, Me. At the close of the meeting W. N. Sheats, of Florida, presented a protest against the action of the President in the appointment of a member of the Committee on Nominations from that state. He was answered by Miss Clem Hampton, who represented the other of the two contesting delegations. The incident was closed by the remark of the President that the protest and the answer to it illustrated both the occasion and the expediency of appointing a third party. |