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His report included the statement that there was some question as to whether the
funds apportioned to the Y.M.C.A. should be ten percent of the gross income of the
Committee or ten percent of the net income. ‘cting upon information which came
from various sources the Treasurer reported that he had sent the Y.M.C.A. an amount
equal to ten percent of the net income and that the Y.i.C.A. authorities claimed
that they should receive ten percent of the gross income.

After full discussion of the matter, it was voted thet for the current year the
Treasurer send check to the Y.“,C.4. for half of the difference between ten per-
cent of the net income and ten percent of the gross income. It was the und:r-
standing of the Committec that procedur3: in the future will depend upon action in
connection with the constitution which is now being considered and which will bo
acted upon at tke next annual meeting.

This proposed constitution w as distributed to all members several weeks in advance
of the meeting. Because of inadequate time to carefully consider cach provision, it
was voted that the Committee temporarily operate under it with the exception of
Article Xi which deals with the method of distributing funds, but that no formal
action rolative to adoption be taken. It was the sentiment of the Committee that
action on the proposed constitution should be one of the first matters to be con-
sidered at next year's meeting.

By unanimous action a vote of thanks was tendered to the officers who planned and
directed the activities of the 1940 meeting and to the National Collegiate tourna-
ment management for their courtesy in inviting the members to be guests at the
National Collegiate tournament.

After discussing the most desirable time and placo of the 1941 meeting, it was
voted to authorize the Executive Committee to decide this matter after adequate
information relative to other related events is mde available.

The meeting adjourned et 1:00 P.M,, Sunday, March 3lst.

Signed:

WU Corte

NOTE: If any member desires to suggest changes or additions, he should notify the
secretary at an early date.