A. I. E. E. mortgage paid

At the May meeting of the Board of Directors the Finance Committee reported that it had considered the advisability of paying off the remainder of the Institute´s share of the indebtedness upon the land occupied by the Engineering Societies Building, amounting to $54,000. The conclusion reached by the committee was that the best interests of the Institute would be served by the payment of the mortgage at this time, and it recommended that this action be taken. The Board approved the recommendation, and authorized the Finance Committee to sell, through the Treasurer and the Secretary, such securities owned by the Institute as would be necessary to make up the required amount.