SEC. 5. The Board of Managers shall appoint the Controller, who shall keep all the accounts of the Institute, shall collect all moneys due the Institute and deposit them in the Treasurer's account, and shall approve all expenditures. He shall act with the Committee on Finance in the preparation of the annual budget. He shall act as the business agent of the publications of the Institute. He shall have charge of the buildings of the Institute and shall be responsible for their maintenance, repairs and insurance. He shall perform such other duties as may be prescribed by the Board of Managers.

SEC. 6. The Board of Managers shall appoint a Librarian, who shall have charge of the library and reading-room of the Institute, and who shall perform the duties usually pertaining to such office, subject to instructions from the Board.

ARTICLE VI.-Board of Managers

SECTION 1. The Board of Managers shall have entire charge and control of the affairs of the Institute, and shall consist of twenty-four members elected as provided in Article IV. The President, the Vice-presidents, the Secretary, the Treasurer, and the Chairman of the Committee on Science and the Arts shall be ex officio members.

SEC. 2. They shall present, through the President, at the annual meeting of the Institute, a report of their proceedings and of the condition of the affairs of the Institute.

SEC. 3.

They shall hold stated meetings once in each month except in July and August. The chairman shall be the President of the Institute. Seven of their members shall constitute a quorum.

SEC. 4. Special meetings may be called by the President at his discretion, and shall be called by him on written request of the Executive Committee or of any seven members of the Board. In case of his absence or refusal to act, such special meeting shall be called by the Secretary.

SEC. 5. Members who have not attended five regular meetings in the twelve months prior to the stated meeting of the Institute in December, shall be reported thereat as having resigned, unless it be unanimously voted by the Board at that meeting, that such member has been absent for sufficient reason.

SEC. 6. All vacancies on the Board of Managers shall be filled by the Board until the next annual meeting of the Institute.

ARTICLE VII.-Committees of the Board of Managers

The following standing committees of the Board of Managers, each consisting of five members, shall be appointed by the President and approved by the Board:

I. Executive. 2. On Endowment. 3. On Finance. 4. On Membership. 5. On Publications. 6. On Bartol Research Foundation.

The Executive Committee shall make to the Board such recommendation as it may deem advisable, but in the absence of specific delegation of authority, it shall have no power to act on behalf of the Board.

The Committee on Finance shall have charge of all securities and investment funds belonging to the Institute and shall invest and reinvest the same and pay the income therefrom to the Treasurer of the Institute. The Committee may, with the approval of the Board of Managers, appoint a trust company of the

City of Philadelphia to act as fiscal agent under the direction of the Committee. All purchases or sales of securities shall be reported monthly to the Board.

The Bartol Research Foundation Committee shall have charge of the provision, maintenance and operation of all laboratories and equipment concerning the Bartol Research Foundation. It shall engage the professional staff subject to the approval of the Board of Managers of the Institute and shall also engage and direct the operators and helpers employed in the work of the Foundation. It shall be composed of not more than twelve members, as follows: Five members of the Board of Managers, appointed by the President and approved by the Board; the President; the Director of the Bartol Research Laboratories; five members appointed by the President with the approval of the Board from the membership of the Institute not members of the Board.

The Director of the Bartol Research Laboratories shall report to the Bartol Research Foundation Committee. All other employees of the Foundation shall report to the Director. The Committee shall have full power to carry out the purposes of the Foundation. It shall make a report of its operation to the Board of Managers at each stated meeting.

ARTICLE VIII.—Audits

The accounts of the Treasurer and of the Fiscal Agent shall be audited at least once a year by certified public accountants, who shall report to the Board of Managers.

ARTICLE IX.-Committees of the Institute

SECTION I. There shall be the following standing committees of the Institute:

1. On Library.

2. On Meetings.

3. On Museum.

4. On Science and the Arts.

SEC. 2. The Committees on Library, Meetings and Museum shall consist of ten members each, appointed by the President at the first stated meeting after the annual election, to serve one year.

SEC. 3. The Committee on Library shall purchase books and other publications of a kind and character suitable to and consonant with the purpose of the Institute's library.

SEC. 4. The Committee on Meetings shall act with the Secretary of the Institute to secure for presentation before the Institute papers dealing authoritatively with subjects of import in the fields of physical science and engineering.

SEC. 5. The Committee on Science and the Arts shall consist of sixty members who shall serve three years. Twenty shall be elected each year by the Board of Managers at the first meeting after the annual election. The Committee shall investigate current discoveries, inventions and other achievements of workers in the physical sciences and their application in the mechanic and industrial arts with a view of affording such recognitions as lie within the power of the Institute to bestow.

SEC. 6. These committees shall organize and adopt rules and regulations suitable to their several activities, subject to the approval of the Board.

ARTICLE X.-Meetings

SECTION I. The Institute shall hold stated meetings on the third Wednesday of each month, except in June, July, August, and September. That on the third Wednesday in January of each year shall be the annual meeting.

SEC. 2. Special meetings shall be called by order of the President, upon request of the Board of Managers, or the written application of twelve members of the Institute. Fifteen members shall constitute a quorum.

ARTICLE XI.-Amendments

These By-Laws may be altered or amended at any stated meeting of the members of the Institute, provided notice in writing, signed by two members, of the proposed alteration or amendment, shall be given to the Board of Managers two months prior to the said meeting, except that amendments to Article I, relating to capital stock, must be ratified subsequently by a majority of the stock represented at a meeting specially called for this purpose.

BY-LAWS OF THE BOARD OF MANAGERS

Organization Meeting.

A meeting for the purpose of organizing, electing members of the Committee on Science and the Arts, appointing a Secretary, an Assistant Secretary and Librarian, a Controller and Standing Committees, shall be held on the fourth Wednesday in January, at 4.15 o'clock, P.M.

Stated Meetings.

Stated meetings shall be held on the second Wednesday of each month at

4.15 o'clock, P.M.

Order of Business.

1. Calling the roll.

2. Reading the minutes of the previous meeting.

3. Report from Treasurer.

4. Reports from Standing Committees of the Board of Managers:

5. Reports from Standing Committees of the Institute:

All committees of the Board shall keep regular minutes of their proceedings and shall report monthly to the Board; they shall also report, through the Committee on Finance, to the stated meeting of the Board in September, an estimate of monies they require for the service of the ensuing year.

AWARDS BY THE INSTITUTE

The following awards are made by The Franklin Institute:

The Franklin Medal.

The Elliott Cresson Medal.
The Howard N. Potts Medal.
The Louis Edward Levy Medal.
The George R. Henderson Medal.
The Edward Longstreth Medal.
The Certificate of Merit.
The Boyden Premium.

The making or recommending of these awards is, by resolution of the Institute, entrusted to its Committee on Science and the Arts, a Committee consisting of sixty members of the Institute. This Committee recommends to the Institute the award of the Franklin Medal to distinguished scientists or technologists; and investigates, upon application, and reports on any worthy invention, discovery or process, recommending the award, according to merit, of the Elliott Cresson Medal, the Howard N. Potts Medal, the Edward Longstreth Medal, or the Certificate of Merit.

The Franklin Medal (Gold Medal and Certificate).-This medal is awarded annually from the Franklin Medal Fund, founded January 1, 1914, by Samuel Insull, Esq., to those workers in physical science or technology, without regard to country, whose efforts, in the opinion of the Institute, acting through its Committee on Science and the Arts, have done most to advance a knowledge of physical science or its applications.

The Elllott Cresson Medal (Gold Medal and Certificate).—This medal is awarded for discovery or original research, adding to the sum of human knowledge, irrespective of commercial value; leading and practical utilizations of discovery; and invention, methods of products embodying substantial elements of leadership in their respective classes, or unusual skill or perfection in workmanship.

The Howard N. Potts Medal (Gold Medal and Certificate).—This medal is awarded for distinguished work in science or the arts; important development of previous basic discoveries; inventions or products of superior excellence or utilizing important principles; and for papers of especial merit that have been presented to the Institute and published in its JOURNAL.

The Louis E. Levy Medal (Gold Medal and Certificate).-This medal is awarded to the author of a paper of especial merit, published in the JOURNAL OF THE FRANKLIN INSTITUTE, preference being given to one describing the author's experimental and theoretical researches in a subject of fundamental importance.

The George R. Henderson Medal (Gold Medal and Certificate).—This medal is awarded for meritorious inventions or discoveries in the field of railway engineering.

The Edward Longstreth Medal (Silver Medal and Certificate).—This medal, with a money premium when the accumulated interest of the fund permits, is awarded for meritorious work in science or the arts. In the event of an accumulation of the fund for medals beyond the sum of one hundred dollars, it is competent for the Committee on Science and the Arts to offer from such surplus a money premium for some special work on any mechanical or scientific subject that is considered of sufficient importance.

The Certificate of Merit.-A Certificate of Merit is awarded to persons adjudged worthy thereof for their inventions, discoveries or productions.

The Boyden Premium (Premium of $1000).-To any resident of North America who shall determine by experiment whether all rays of light and other physical rays are or are not transmitted with the same velocity.

HISTORY OF THE MEDALS

The Franklin Medal.-Samuel Insull, Esq., of Chicago, Illinois, writing under date of December 23, 1913, to the Board of Managers, stated that he had been informed it would be a source of gratification to them if the Institute had available, in addition to such medals already in its gifts, a medal to be known as The Franklin Medal, and to be awarded from time to time in recognition of the total contributions of individuals to science or to the applications of physical science to industry, rather than in recognition of any single invention or discovery, however important. He agreed to provide for the founding of this medal under the following general conditions:

1. That an amount not exceeding one thousand dollars should be furnished by him for procuring appropriate designs and dies for the medal and diploma.

2. That the medal should possess distinct artistic merit, and have on one side a medallion of Benjamin Franklin done from the Thomas Sully portrait in the possession of the Institute.

3. That the medal should be of gold and have an intrinsic value of about seventy-five dollars.

4. That the sum of five thousand dollars should be provided by him to be held in trust in perpetuity to be a foundation for this medal, and to be known as The Franklin Medal Fund (Founded January 1, 1914, by Samuel Insull, Esq.).

5. That the interest of this fund should be used from time to time in awarding The Franklin Medal to those workers in physical science or technology, without regard to country, whose efforts have, in the judgment of the Institute, done most to advance a knowledge of physical science or its applications.

6. That any excess of income from this fund, beyond such average annual sum as might be deemed necessary by the Institute for the number of medals it is considered best to award, might be used for premiums to accompany the medals.