ng to the Association and shall deposit all monies and
other valuable objects in the name of this Association in such
depositories or safety vaults as may be designated by the
Business Committee. He and his Assistant shall be required by the
Executive Council to give bond as the Executive Council may
designate. The Secretary-Treasurer shall be ex-officio a trustee
of the Association, and a member of the Business Committee.

The Director and Editor shall be the executive of the Association
when it or the Executive Council is not in session. He shall
devise plans for the collection of documents, direct the studies
of members of the Association, and determine what matter shall be
published in the Journal of Negro History. He shall employ a
business manager and clerk, the last mentioned to serve also as
the Assistant to the Secretary-Treasurer. He may employ other
assistants for administrative work and upon the approval of the
Executive Council may employ specialists to prosecute the
research to be undertaken by the Association. The Director and
Editor shall be ex-officio a trustee of the Association, and a
member of all standing committees except the Business Committee.

The Executive Council shall have charge of the general interests
of the Association, including the election of members of the
Association on recommendation of the Director, the calling of
meetings, the collection and the disposition of funds.

The report of the Director was read and adopted as was also the report
of the Secretary-Treasurer, which was referred to an auditor.
Important extracts from these reports follow.

The work of the Association has been successfully promoted. In
some respects the Association has merely maintained its former
status. Considered from another point of view, however, a decided
advance in several ways has been noted. In the fields in which
the work has advanced the progress has been so significant that
the year through which the Association has just passed has been
the most prosperous in its history.

The subscription list of the Journal of Negro History does not
show a large increase for the reason that it became necessary
more than a year ago to raise the fee from one to two dollars a
year and the current stringency in the money market has borne so
hea