('tfhilQ it is the understanding of the Committee that the figure for the retention of Dr. Watson is L.E.1550, the exact amount of the Cairo budget aan not be fixed until the figures are furnished by the Bursar in Egypt.) Mr. Lum oalled attention to the fact that the expense of releasing the faculty members was pro-rated over a period of three years and that an additional $4500 must be provided this summer to be replaced at the rate of $2250 for 1934-35 and 1935-36. ! A statement showing the status of the loan account was presented. The Sec- retary was instructed to borrow the money necessary to provide this $4500 in the same manner as funds are borrowed for the current account. • The Committee feels that there is a real danger to the prese...