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elected life members of the Institution in recognition of their generous gifts to the Museum of a value in excess of an amount necessary to qualify them for that class of membership.

The regular meeting of the Board of Trustees scheduled to be held on October 4, 1938 was not convened in view of the absence of the Chairman and Director in Alaska and in view of the difficulty in obtaining a quorum, but the meeting was reconvened as an adjourned session on November 22, 1938. 

At that meeting the present financial needs of the Institution came up for discussion and Mr. William Shirley Fulton offered to release the shares of the Travelers Insurance Company stock then held as part of the principal of the William Shirley Fulton Fund from any restrictions upon their sale or use, so that the securities could be sold or pledged as collateral security for loans for the benefit of the general funds of the Museum. The Board accepted Mr. Fulton's timely offer and extended thanks for his generosity. The Treasurer was by motion authorized to borrow from the United States Trust Company of New York such sums as he might deem proper and to pledge the said shares as collateral security therefor. At this meeting Mr. Keppler also informed the Board that he was willing to make an unsecured loan of $250. to assist in meeting the Museum's immediate financial needs. The Trustees duly accepted Mr. Keppler's offer and expressed their thanks for his timely cooperation in meeting the Museum's problems.

The Chairman and the Secretary were appointed a special committee to consider and report as to whether the Museum should be kept open during the summer of 1939 in view of the New York's World's Fair.

At this meeting Mr. John Maffenbeier of Hillside, New Jersey, was duly elected a life member of the Institution in view of his gifts of many ethnological specimens of an intrinsic value far in excess of an amount necessary to qualify him for life membership. Mr. Maffenbeier also had expressed his intention of willing his entire collection to the Museum and a special resolution of thanks was extended to him for his gifts and with appreciation of his future intentions.

The sale of General Electric Stock held by this Institution in the