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dred and sixty-one members, seventeen associates and nine juniors, as will be seen by reference to the Catalogue.

As already stated, a number of new applications for admission have been submitted to the Society for ballot, the result of which will be known to-day.

A number of additional names have been passed upon favorably by the Council, preparatory to balloting by the membership, while a number of other applications are still under consideration.

Respectfully submitted,

LYCURGUS B. MOORE,

Acting Secretary.

TO THE SOCIETY:

TREASURER'S REPORT.

NEW YORK, November 4, 1880.

I would respectfully state, that I have received in all from the membership, $2,910.00, derived wholly from initiation fees.

In the absence of an Auditing Committee, I have taken the responsibility of defraying the running expenses of the Society out of the funds in my hands, to the extent of $346.07, which expenditures have been duly approved by the Council by special resolution. I trust they will be as freely approved by the membership at large. Of this sum, $120.00 was paid for three day's rent of the Union League Theatre, under the terms of contract made by the Committee on Rooms.

The greater part of the remaining expenditure has been for printing, stationery and postage, only about $12.00 having been paid for clerk hire in addressing wrappers. Bills representing these expenditures are appended.

The Society now has in bank funds to the amount of $2,563.93. The Society owes a small amount for printing, bills representing which have not yet been rendered. Some little indebtedness also has been incurred for the purposes of this meeting, for which no bills have yet been rendered.

A few initiation fees are yet delinquent, but I am confident that no loss will accrue to the Society therefrom.

Respectfully submitted,

LYCURGUS B. MOORE,
Treasurer.

Both reports were duly approved.

The following resolution, offered by Mr. Holley, was adopted: "That the President be authorized and directed to appoint Standing Committees of five members each, of whom at least two shall be members of the Council; said Standing Committees to be as follows: Rooms and Conversazione; Arrangements for Regular Meetings. The duties of these Committees to be such as are usual and are indicated by their titles."

The President stated that the appointments would be made before adjournment.

At the request of Dr. Grimshaw, the Secretary read the order in which the papers would be presented.

[TRANSACTIONS OF THE AMERICAN SOCIETY OF MECHANICAL ENGINEERS.]

PRESIDENT'S INAUGURAL ADDRESS.

Delivered at the Annual Meeting.

BY R. H. THURSTON, A. M., C.E., PROFESSOR OF MECHANICAL ENGINEERING IN THE STEVENS INSTITUTE OF TECHNOLOGY.

INTRODUCTION.

Gentlemen of the American Society of Mechanical Engineers:
It is with much diffidence, although with pride and pleasure that
I have no desire to conceal, that I appear before you to-night to de-
liver the inaugural address of the first President of this Society.

I feel the greater embarrassment and the more uncertainty as to the justice and propriety of my action in assuming the position which your too favorable judgment has given me, from the fact that I am thoroughly committed by sentiment and by every word and deed of my past life, to the principle that such honors should be accorded only to the veterans of the profession, many of whom are with us in person, and more of whom are with us in spirit to-day.

That is a good saying-"Old men for council and young men for war," and it was a hope that its spirit should be carried out that led me, while too partial friends were urging my own candidacy, to seek the election of one who stands among us to-day as the leading exponent of that modern engineering practice that has grown up within the memory of very many of those who are with us here. The highest honors and the leading positions belong, of right, to those among the senior members of the profession who have distinguished themselves in earlier times; while the work of the present should be done by younger men just coming forward with their strength and their energy unimpaired by the struggles and the strifes that have marked the experience of those who had the rough work of the past to do without the advantages and the facilities which those noble pioneers needed far more than we who have found so much of our work already done to our hand.

The gray-haired and gray-bearded fathers of the profession are entitled to all the honors that can be accorded them; the young men are entitled to the hard work on our committees and elsewhere, with an assurance that age will come to them quite fast enough, and that their turn will then come to receive the reward of well-doing and the deference and the honor due to age and experience.

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