Institute Medals and Awards

The income of the Institute is derived from dues, subscriptions to Mining and Metallurgy and sale of publications. These sources are fortunately supplemented by the interest from invested funds now amounting to over $500,000, a considerable portion constituting endowments for especial purposes. Aside from the medal funds the principal endowments are the James Douglas Fund for support of the Library, the Rocky Mountain Fund and the Seeley W. Mudd Memorial Fund. The income from the two last named is available for the support of research and a variety of other purposes, It is allocated by the Board of Directors upon recommendation of standing committees in each case. An active effort is being made to increase the endowments of the Institute, it being felt that unusual opportunities exist for research and public and professional service through the organization and at a minimum of expense. J. V. W. Reynders is chairman of the Endowment Committee. Seeley W. Mudd Memorial Fund THE Seeley W. Mudd Memorial Fund, consisting of $100,000, was given the Institute in 1929 by the family of Colonel Mudd who had served the Institute as Director, Vice-president and on many important committees. His long career of distinguished professional and public service is fittingly commemorated by this fund. The income is available for support of research and other special purposes. In view of Colonel Mudd's life work with the nonferrous metals and his keen interest in the younger men of the profession it is purposed to apply the fund particularly to the benefit of these two. Control of income is exercised by the Board of Directors on recommendation of a Committee consisting of the President and Secretary, ex officiis, together with three others selected by the Board. The Committee consists at present of the following members: W. H. Bassett, President; H. Foster Bain, Secretary; Harvey S. Mudd serving until October, 1931; Edgar Rickard serving till October, 1932; George Otis Smith serving until October, 1933. On recommendation of this Committee the Board has authorized as a first project the preparation of a series of small books designed especially to be helpful to the Junior Members. These are now being written and it is hoped will be available for distribution in 1931. The list includes: A Brief History of American Mining, by T. A. Rickard; Mining Costs, Why and What, by Arthur Notman; Introduction to Mineral Economics, by H. Foster Bain and T. T. Read; Choice of Methods—A Record of Experience in Making Decisions, with chapters by W. H. Bassett, F. W. Bradley, E. DeGolyer, Howard N. Eavenson, A. B. Parsons, J. V. W. Reynders, L. D. Ricketts, Robert E. Tally, Pope Yeatman and others. One other book is projected but final selection has not been made. The purpose of these books is to afford the younger men who now come into a highly specialized profession some substitute for the broad