Linguistic Institute current funds, income from Linguistic Institute Endowment Fd investments $245.25 Intereat accruing to LS.A., income from Endowment Fund in promotion and distribution, expr.... Bloomfield's Outline Guide: ed. serv., adv. circ.. Sturtevant's Indo-Hittite Laryngeals: adv., editorial services, Bloch-Trager's Outline of Ling. Analysis: ed. serv., engravings, etc..... Miscellaneous: Publications bought for resale........ Dissertation No. 36, express on ms.. Dissertation No. 36, refund to A. G. Vaughan. Reserv. for 1941 Am. Sp. biblio. (Phonemics). Dues, American Council of Learned Societies.. Total Disbursements.. BALANCE on deposit, First Capital Nat'l Bank, Iowa City. $121.19 30.03 79.22 To Ling. Inst. Endow. Fd., loan to complete purchase of stock, to be repaid from Ling. Inst. Endow. Fd. pledge pyts..... BALANCE, Dec. 19, 1942....... SCHEDULE OF ASSETS AND LIABILITIES, as of Dec. 19, 1942 ASSETS: Cash on hand, First Capital National Bank, Iowa City. (LSA Endow. Fd. $1,707.22, LSA current fds. $92.78) Securities (at book value) Linguistic Institute Endow. Fd.. Waverly Press, Inc., credit balance.. Due from Yale University, Navaho Texts publication acct... Due from Yale University, Indo-Hittite Laryngeals publ. acct... advance. Bloch-Trager: Outline of Linguistic Analysis, advance.. Total.. LIABILITIES: 15.26 $376.03 $3,312.27 1,800.00 4,565.82 1,111.31 902.77 877.73 11.69 38.40 $12,619.99 Due Yale Univ. on Wm. Dwight Whitney Ling. Series (Navaho). 14.75 4,954.66 $12,619.99 Total..... The report of the Trustees of the Endowment Funds is here appended: The Trustees of the Endowment Funds report that during the year 1942 the sum of $88.50 has been received for the Endowment of the Linguistic Institute through the activity of Mr. Edgerton's Committee. Acting on the recommendation of the Committee on the Investment of Linguistic Institute Endowment Funds the Trustees invested the remainder of the Institute Endowment Funds in common stocks indicated by that Committee. It was necessary to borrow $15.26 from the current funds of the Linguistic Institute to complete these transactions. This loan will be repaid from receipts on outstanding pledges to the Institute Endowment Funds. The following is an accounting of endowment funds: Purchase of 2/10th right United Aircraft 5% Cumulative Pre ferred stock.... .23 Purchase of 1 share United Aircraft 5% Cum. Pref. stock.. Purchase of 3 shares Standard Oil of New Jersey stock.. Investment in Federal Savings & Loan Certificates, Dec. 20, 1941: $1,707.22 Balance, Dec. 19, 1942.. 92.78 $1,800.00 (Signed) Albert C. Baugh Report of C. E. Cousins and E. K. Mapes, previously appointed by the President of the Society to serve as Auditors of the Treasurer's report: We have examined the Balance Sheet and the Profit and Loss Statement submitted by the Treasurer of the Linguistic Society of America for the period Dec. 20, 1941 to Dec. 20, 1942, and consider, from a check of the entries in the Ledger, that the said Statement and Balance Sheet are correct. It is our understanding that the report of the Trustees of the Endowment Fund will be included in the published report of the Treasurer. (Signed) C. E. Cousins E. K. Mapes Report of the Secretary on behalf of the Executive Committee: During the year the Executive Committee, acting by correspondence, elected to membership several lists of nominees published in LANGUAGE as elected in 1942; fixed the time and place for the annual meeting; and took steps to meet the emergency caused by the governmental call for cancellation of the meeting. Mr. Kurath, as President, appointed Miss May Lansfield Keller as Delegate to the Centennial Celebration of Hollins College; appointed Miss E. Adelaide Hahn as Delegate at the Inauguration of Harry Noble Wright as President of the City College of the College of the City of New York; appointed as Local Committee for the Summer Meeting in Chapel Hill and Durham Mr. R. W. Linker, chairman, with Messrs. U. T. Holmes Jr., J. J. Lund and J. M. Cowan; and appointed Mr. John Kepke as Chairman of the Eastern Section and Mr. C. M. Lotspeich as Chairman of the Western Section of the Annual Meeting. The Executive Committee held a special meeting on Tuesday afternoon, December 29, 1942, in the Hall of Graduate Studies at Yale University. Present, Mr. Hans Kurath, presiding; Mr. J. M. Cowan, Secretary; Mr. Ralph Ward, Mr. George Trager as proxy for Mr. C. F. Voegelin, and Mr. E. H. Sturtevant as proxy for Mr. A. C. Baugh for the meeting; also, by constitutional provision, Miss E. A. Hahn, Mr. Leonard Bloomfield, Mr. Franklin Edgerton (these without vote); and Mr. Bernard Bloch by invitation. The Executive Committee received from the Secretary the report that returns on the special mail ballot which was sent to the membership of the Society when the annual meeting was cancelled showed no negative votes on the poll to empower the Executive Committee to conduct the Society's business during the national emergency. The Secretary further reported that no additional nominations of officers for 1943 had been received as a result of the mail ballot, and that failing additional nominations the ballots provided affirmative votes for the candidates nominated by the Nominating Committee. The Executive Committee, as a ratification of the vote by ballot of the membership of the Society, elected the following officers: President, Fred N. Robinson, Harvard University Vice-President, Hayward Keniston, University of Michigan Secretary-Treasurer, J. M. Cowan, American Council of Learned Societies Hans Kurath, Brown University Edith F. Claflin, Barnard College Editor, Bernard Bloch, Yale University Committee on Publications 1943-5, M. B. Emeneau, University of California The following actions were taken by the Executive Committee in the special meeting: 1. W. Freeman Twaddell was elected Delegate to the American Council of Learned Societies, to serve through 1946. 2. The Committee on the Place of the Linguistic Institute 1941 and 1942 was discharged with a vote of thanks for its services. 3. It was voted to accept the invitation of the University of Wisconsin to conduct the Linguistic Institute of 1943 as part of the University's Summer Session, on terms which had been agreed upon between the University and the Society's officers. 4. The Administrative Committee of the Linguistic Institute was discharged with a vote of thanks for its services. 5. W. Freeman Twaddell was appointed Director of the Linguistic Institute for 1943. The Secretary was instructed to ask the new director to recommend to the Executive Committee for appointment an Associate Director and other members to constitute an Administrative Committee of the Linguistic Institute. [Subsequently Mr. Twaddell found himself obliged by the press of other duties to resign from the directorship of the Linguistic Institute, and was replaced in this position by Einar Haugen.] 6. The Treasurer of the Society was empowered to pay to the University of Wisconsin, for the purpose of bringing special lecturers to the Linguistic Institute, a sum not exceeding the amount standing on the books of the Society on June 1, 1943, to the credit of the current funds of the Linguistic Institute. |