In witness whereof we have hereunto set our hands this 17th day of June, 1905.

SALENA V. ERNEST,
MARY PHELPS MONTGOMERY,
JENNIE GILLMORE KNOTT,
Members Auditing Committee.

NEW YORK, June 16, 1905.

In accordance with your instructions, I have made an examination of your treasurer’s accounts from March 17, 1903, to June 10, 1905, and herewith submit to you my report thereon.

All vouchers covering the disbursements from the appropriation made by Congress of $100,000 are in due form and properly approved and attested, vouchers being on file for all amounts paid, each voucher containing a “paid” check signed by the treasurer and countersigned by the president, excepting a few, which, in the ordinary course of business, have not as yet been presented at bank for payment.

All disbursements from the $3,000 received from the Louisiana Purchase Exposition Company and from the interest received from banks have been made by treasurer’s check and all have been approved by the president of the board.  The total disbursements and receipts to June 10 are as follows: 

Total amount received by the treasurer to June 10, 1905: 
From Louisiana Purchase Exposition Company ........................  $3,000.00
From Congress ..................................................... 100,000.00
Interest received from banks ......................................   1,502.29
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Total received from all sources to June 10, 1905 ................ 104,502.29
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Total amount disbursed by treasurer to June 10, 1905: 
From the $3,000 received from the Louisiana Purchase Exposition
Company .........................................................   3,000.00
From the appropriation from Congress ..............................  74,146.83
From the interest received from banks .............................     688.80
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Total disbursed from all sources to June 10, 1905 ...............  77,835.63
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Balance in hands of treasurer on June 10, 1905: 
From the $100.000 appropriation from Congress .....................  25,853.17
From interest received from banks .................................     813.49
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Balance in hands of treasurer June 10, 1905 .....................  26,666.66

Respectfully submitted. 
JOHN PROUD,
Certified Public Accountant.

The PRESIDENT AND AUDITING COMMITTEE,
Board of Lady Managers, Louisiana Purchase Exposition.

It has been said that “an exposition should be as broad and comprehensive as the efforts of mankind.”  In all human activities in recent years advancement has been so marvelously rapid that important expositions might be held from time to time in which would be included nothing but inventions, discoveries, and accomplishments that belong to the intervening epoch-making periods.