Document x50p4QBdnQpRq4g73kBwK8xD6

Meeting of Members, October 20, 1965 NOW, THEREFORE, BE IT RESOLVED in this 30th Annual Meeting of the Industrial Hygiene Foundation of America, Inc., that we regret tire loss of our friend and founder, and commend his high character and integrity as an ideal of personal conduct and as an example in the management of this enter prise; and- _ BE IT FURTHER RESOLVED, that out of -espect for the memory of our deceased friend and in recognition of his valued services to the Foundation, we do now direct that these Resolutions be spread upon the minutes of this meet ing and a copy of them be sent to the family of Dr. Sayers as a token of our sympathy. " A motion was made, seconded, and unanimously carried that this resolu tion be adopted. The Chairman then made the following statements to the membership: "Last year at the Annual Business Meeting of the Members of this Foun dation it was necessary for me to sound a note of alarm on the financial condi tion of the Foundation. I pointed out that the principal sources of income to sup port Foundation activities are: 1. Membership Dues 2. Engineering Surveys for Members 3. Research Laboratory Contracts for Members 4. Research Laboratory Contracts for Government In the years 1959 through 1962, the Foundation was able to operate with modest excesses of income over expenditures, the largest being $5,500 in 1962. In 1963 and 1964, because of drastic declines in the value of projects performed for members, we operated at a deficit of $4, 700 in 1963 and nearly $13, 000 in 1964. So far'as the staff and the Board of Trustees could predict early in 1965, this year could result in another deficit of $13,000 or $14,000. Fortunately, reimbursable services to members have exceeded our earlier estimates. Ac cording to Professor Hatch, our Treasurer, it now appears that the 1965 deficit will be about one-third of what was anticipated at the beginning of the year. It became evident to the Board of Trustees that a decision would have to be made on-one of three alternatives: 1. Phase-out and dissolve the Foundation. 2. Reduce the functions of the Foundation to: a. Publication of the Digest b. Consultation c. An Annual Meeting d. Various Seminars and Discussionals e. Discontinue Research Laboratory and Engineering functions.