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-2- [[underlined]] SALIENT EXCERPTS FROM THE PRESIDENT'S ANNUAL REPORT. [[/underlined]] After a gracious greeting to the members and their associates present at the general meeting, Mr. Freeman spoke, in part, as follows:- "It gives me great pleasure to report to the membership that on the term of office now ending has seen close and harmonious cooperation between officers and the Executive Committee. Many important issues have arisen during the year, necessitating frequent consultation between the officers and the members of the Committee. their whole-hearted support made possible the handling of all matters with dispatch and the greatest care for the benefit of the trade as a whole. We have brought the League's influence and strength to bear whenever possible on any cases of misrepresentation and methods of sale that we did not think were in the best interests of the antique trade." "During the year a considerable amount of time has been devoted to the study of a problem as old as the League itself, namely, that affecting the status of membership - its qualifications, its scope of activity, its probable influence upon business, etc. - and I feel that considerable progress has been made in this regard and that the incoming Administration will be able to clarify the situation further. It must be apparent to all of us that times have changed, and I, for one, feel that we must adjust the course of the organization in such manner as to increase its usefulness to the membership. I strongly feel that we must advance in the right direction if we are not to lose whatever gains have been made in recent years." "I would like to have the benefit of this meeting's consideration on the problem of whether the interpretation and the application of membership qualifications should be liberalized to the end that the membership may be substantially increased. Whilst realizing the necessity for such a step, I would not be in favor at any time to venture it unless the membership is strongly back of such a move." "As you will see by the meeting's agenda, there are questions to which the officers and the Executive Committee have devoted much time and thought; and problems such as will engage your attention and consideration later on in the evening make you realize that to tackle them in the proper manner one must have the necessary resources - financially and otherwise. The Treasurer's report will substantiate this point." "The membership will be glad to know that proper representation has been made against the excise tax, and it is our hope that the Treasury Department will see fit to recommend that it be abolished; yet, at the moment, I, for one, believe that the trade suffers most from the affects of too much travel and, therefore, too much buying in Europe." "The questions on the agenda deserve particular attention, and I have decided to reserve my comments on each subject for the introductory remarks in each case in order to stimulate general deliberation. Other particulars, likewise, will be incorporated as part of the Secretary's report. I do, however, wish to report that our relationship with the British Antique Dealers' Association has continued on a very friendly basis, and your President, together with other officers, have had occasion to meet on divers problems of mutual concern with their colleagues in Great Britain, whose cooperation is sincerely appreciated." [[underlined]](continued on#3)[[/underlined]]