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with the author for his participation in the expense thereof. It was the Chairman's hope that this question could be disposed of and the publication under way by the time of the next Trustees' meeting. 

The Trustees also discussed the Hawikuh Publication Fund and the Chairman was requested to consider and report at a later meeting as to what, if any, further publications could be made from the material available in order to complete the series. 

At each meeting of the Board during the fiscal year the Treasurer presented his interim financial statements setting forth the Museum's current balance sheet, showing the portfolios of all endowment and special funds, a statement of cash receipts and disbursements from the commencement of the current fiscal year and a detailed statement of income receipts for the period. 

The Treasurer also presented the portfolios of the various endowment funds which were likewise examined and discussed. 

In presenting his report the Treasurer at each meeting called the attention of the Board to the lack of income to meet the current needs of the institution, and the continuation of advances from the principal accounts of uninvested cash to meet current obligations. Some improvements had been made in the past year but the situation in existence at the close of the year in a large measure continues.