NEED OF AN ENDOWMENT. Eighteen years' unremitting activity has demonstrated the seriousness, permanence and public value of the Society's work, and the Trustees earnestly express the hope that private generosity may, by means of a substantial endowment, place it beyond the vicissitudes of support by a necessarily fluctuating membership. While the Society has been instrumental in encouraging gifts of millions to public objects, it has been slow to ask money for itself until it could demonstrate its value by years of continued service. The Trustees feel that now the corporation has attained the position of an Institution which may justly hope that the confidence in it which has been manifested in many other ways may now be expressed in the terms of a financial endowment. PUBLIC BENEFACTOR MEDAL PROPOSED. The Society also entertains the hope that means may be forthcoming for the founding of a Public Benefactor Medal, which shall be awarded from time to time to men and women who have made gifts of money or property, or who have contributed otherwise in some notable manner to the preservation of scenery and historic landmarks. Foreign governments have instituted orders and medals and American institutions confer degrees and other tokens of recognition for scientific research, achievements in exploration, the promotion of peace, bravery in war, and heroism by policemen, life savers, etc., but there is no established form of recognition for those who have conspicuously contributed to the promotion of the health, happiness, education and patriotism of the people of present and future generations, by great gifts to the State like Harriman Park, Letchworth Park, Philipse Manor Hall, and scores of other similar civic benefactions throughout the country. The designing and cutting of the dies for such a medal would cost about $1,000, and the expense of striking appropriate medals in gold, silver or bronze could be met as occasion arises for awarding them. ANNUAL REPORTS. The State, in pursuance of the general printing law, prints only 500 copies of our Annual Report. The demands for the Report, however, are so great that the Society is obliged to print at its own expense 600 copies additional. These reports are sent gratuitously to the supporters of our work; and to the principal public libraries and universities at home and abroad. It is now impossible to supply complete files of these publications, as some reports are out of print. Following is a list of the Reports, those marked with an asterisk being out of print*: The Society, although having the administration of certain State properties hereafter to be mentioned, receives no financial support from the Government for its general work. The appropriations of public moneys which it receives are applied exclusively to the specific objects for which they are made without any administrative charges. The Trustees of the Society devote their time, their thought, and frequently their purses, to the Society's work without recompense other than the satisfaction of serving their fellow-men in a public work. The charter of the Society forbids any member of the corporation to receive any compensation or to have any interest, direct or indirect, in any contract. And among the employes of the Society there are no sinecures. State funds are received and disbursed upon itemized vouchers, first audited by the officers of the Society and afterward *Hon. Anthony J. Griffin of New York introduced in the Senate and Hon. Louis A. Cuvillier of New York introduced in the Assembly of 1913 a bill to amend the State Printing Law, providing, among other things, for 1,000 additional copies of our report 500 for the Legislature and 500 for the Society. The bill passed but was vetoed by Gov. Sulzer. approved by the Comptroller of the State. Statements of these disbursements are given hereafter under the headings of Stony Point State Reservation, Letchworth Park and Philipse Manor Hall. For the maintenance of its general work the Society is dependent upon its membership dues, occasional voluntary contributions, and the income from certain investments. The Society's own funds are classified under four heads, namely, the General Fund, the Andrew H. Green Memorial Fund, the Letchworth Legacy and the Manor Hall Fund Cochran Gift. General Fund. Following is a classified statement of the receipts and disbursements of the General Fund for the year ended December 31, 1912: Balance on hand January 1, 1912.. DEBIT. Received from Sustaining Members Recived from Life Members Received from Mrs. F. F. Thompson Received from Mrs. William H. Bliss Received from J. P. Morgan ... Received from A. S. Cochran for Manor Hall book.. Received from Interest on Green Memorial Fund, 2 years. Received from Rebate from Express Company.. CREDIT. $719 13 2,117 50 1,225 00 200 00 250 00 1,000 00 1,000 00 865 04 800 00 7 62 20.00 3 50 19 00 30 $8,227 09 Stenographic assistance Public Meetings (exclusive of printing and postage) Office rent Traveling expenses: Carfares.. To Washington re Niagara Falls. To Washington re Court House To Albany re Annual Report To Portage re Letchworth Park $5.30 15 72 15270 645 44 15 $385 38 89 80 11 37 360 00 Press clippings Messengers, freight and express Photos and drawing materials Miscellaneous: Investment of Mrs. Wm. H. Bliss' gift.. Renovation Stony Point medals Geologists' tablet at Albany Funeral flowers General... Balance December 31, 1912 1 45 88 77 33 86 92 65 34 07 $1,000 00 12 85 10 00 10 00 43 70 1,076 55 1,219 57 $8,227 09 The balance is on deposit with the National City Bank. In addition to the cash balance above indicated, we have invested, as stated under the heading "Miscellaneous" in the credit account, the sum of $1,000 given to the Society by Mrs. William II. Bliss. This investment is in a guaranteed mortgage certificate, series II, No. 1869, of the Westchester & Bronx Title & Mortgage Guaranty Co., bearing five per cent interest per annum. Andrew II. Green Memorial Fund. We have permanently invested in Registered Gold Certificate No. 1, Series V5 of Corporate Stock of the City of New York, bearing interest at the rate of four per cent per annum, the principal of the Andrew II. Green Memorial Fund amounting to $10,000, which was given to the Society by the heirs of the late Andrew H. Green, the Founder of the Society. At the beginning of the year 1912, we had on hand the unexpended interest of the preceding year amounting to $100. During 1912 this sum was augmented by the current income to $800, which was paid into the General Fund for the general use of the Society as stated among the receipts of that fund. By the terms of the gift, we are required to state in our Annual Report the purposes for which this income is expended. The $800 above mentioned was applied to the reimbursement of the General Fund for the following expenditures made in 1911 and 1912: Chas. M. Dow, traveling expenses, Letchworth Park hearings.... Henry Romeike, clippings Polhemus Printing Co., printing E. J. Parker, stereopticon service Douglas Wilson, traveling expenses $32 16 23 08 1 40 5 50 10 00 25.00 E. H. Hall, telegram, glue, oil stone. 1 42 J. A. Cooke, mimeographing 2.40 F. W. Brainerd, "Who's Who " 5 00 The late Mr. William Pryor Letchworth, the donor of Letchworth Park to the State of New York, made this Society his residuary legatee, with the provision that the funds thus given |