ASNE FINANCIAL STATEMENTS 1961

Statement of Income & Expenditures

EXPENDITURES Publication

.................... .23.439 .a Engraving ................... 3,157.18

Postage ..................... 714.09

Commissions & Discount .... 1,9 7620

Exchange 34557.38 ................... 50

Manuscripts ................. 5,270.00

......................................................................... Salaries .17,456 .5? ................................................................

......................................................................... General Expense 4,070.40

Awards 43320 Rent ............................................................................ 3,100.00

Bad Depts & Miscellaneous

A/R Dues ................... 1,006.45

A/R Sales, Subs., etc ........ 60.50

Depreciation on

furniture & Die . . . . . . . . . . . 493.46 Social security ............................................. Retirement Funds ..........................................

1.560.41 .............. 481.08

.............. 4200.00

65.sSe.05

INCOME

Publication

Advertisements ............. .13. 04192

Regular Dues ................ 34248.00 Junior ....................... 37.50

Student ..................... 120.75

%ales ............................ 540.33

Subscriptions

Domestic .................... 2,432.75

Foreign ..................... 4,842.50

Contract .................... .10.033 .63 6sa7.38

Interest on Investments .................................. 2.738.00

Banquet 1961 ............................................ 227.39 g 8 3 2 . 7 7

Net Profit 2.403.72

A.S.N.E. Journal . fibruary . I962 177

BALANCE STATElVLENT Assets. January 1. 1961 ........................................................ ..58.48 1.51 Assets. December 31. 1961

Cash ............................................................ 2,743.43 Petty Cash ...................................................... 24.62

Accounts Receivable (1960 & in Advance)

Advertisements .............. 404.00 Dues ........................ 20.00 Sales ........................ 93.75 Subscriptions . . . . . . . . . . . . . . . .11,289 .16

2,768.05

11106.91

Investments Perpetual Building & Loan .......................... 5,000.00 Liberty savings & Loan ............................. 10,000.00 First Federal Savings & Loan ....................... .lO.ooO .00

Equitable Savings & Loan .......................... .lO.OOO .00 Northwestern ....................................... .10.000 .00

Enterprise ........................................... lO,OOO.oO Columbia ............................................ 5,000.00 US . Defense Bonds K Series ........................ 5,000.00 65,000.00

Furniture ........................................................... 2,118.55 Manuscripts. Paid in Advance ....................................... 1,475.00

345.91 Expenses Paid in Advance (billheads. stationery. etc . . . . . . . . . . . . . . . . . Banquet 1962 Paid in Advance .............................. 163.19

Liabilities (Accounting m y ) Advertisement Paid in Advance . . Dues Paid in Advance

Regular ....................... Junior . . . . . . . . . . . . . . . . . . . . . . . . Student .......................

Subscriptions Paid in Advance Domestic ...................... Foreign ........................ Contract . . . . . . . . . . . . . . . . . . . . . . .

Printing . . . . . . . . . . . . . . . . . . . . . . . . . Journal Postage . . . . . . . . . . . . . . . . . Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Accounts Payable

Net Assets December 31. 1961

. .

. .

. .

..

Audited and found correct 2 Feb . 1962 . s/F . C . Jones )

1 SIC . P . Roane ) Audit Committee

) s/Gilbert Frankel )

. . . 161.70

. . . . . . . . . . . . . . . . . . 627.00

.................. 18.50

. . . . . . . . . . . . . . . . . . 56.50

. . . . . . . . . . . . . . 1,706.00

.............. 2,776.75

. . . . . . . . . . . . . .10,47 8.16

83.677.61

. . . . . . . . . . . . . . . . . . 5.775.44

.................. 180.0s

. . . . . . . . . . . . . . . . . . 12.50 21.792.3

......................................... .61.88 5.23 Net Profit 2.403.72

s/J . E . Hamilton. Secretary-Treasurer Respectfully submitted

Securities in Society's safe deposit box at American Security & Trust Co., Washington. D.C. examined and found as reported herein .

178 A.S.N.E. Journal. hbruary. 1962

ARMED FORCES DAY 1962 The Armed Forces of the United States, through-

out the country and overseas, will be hosts to their American and international neighbors May 12-20, 1962, when the Army, Navy, Air Force, Marine Corps, Coast Guard and Reserve Forces throw open their gates to the public.

Under the guidance of the Department of Defense, military organizations around the globe will assure citizens and friends at home and abroad that this country possesses sufficient national strength to deter aggression and safeguard peace and freedom throughout the world of free men.

Consistent with the policy of past years, “Armed Forces Day” wiIl feature “open house” events in posts, camps, stations, bases and defense facilities throughout the world. Hundreds of exhibits, exer- cises, maneuvers and demonstrations will provide the public with the opportunity to see and inspect the defense system and military power of the United States. Citizens in communities throughout the coun- try will join in Armed Forces parades, displays and combined Service exercises. By such means, the pub- lic will be given an opportunity to see first-hand the strongest peacetime military organization in the his- tory of the United States.

Armed Forces Day symbolizes unification and demonstrates the close working relationship of the Army, Navy, Air Force, Marine Corps, Coast Guard, National Guard and Reserve Components, and gives the public an annual report on the state of the Na- tion’s defense.

Background: Prior to 1950, Army Day was cele- brated on April 6 each year, Air Force Day on Sep- tember 18, Navy Day on October 27, and the Marine Corps Anniversary on November 10. In April 1949, the Secretary of Defense, with the President’s ap- proval, announced that the four separate events would be consolidated into a single annual ARMED FORCES DAY in line with unification of the Serv- ices and creation of the Department of Defense by Act of Congress.

Date: In selecting a date for this annual observ- ance, the Department of Defense gave lengthy con- sideration to weather and other important factors. It was finally concluded that the third Saturday in May would involve the least conflict with established pub- lic events and the least interference with business, industry, education, and other elements of national community life, and would therefore be most likely to receive the greatest public attention and support.

Accordingly, President Truman prodaimed the third Saturday in May, 1950, as the first Armed Forces Day.

On March 5, 1957, President Eisenhower pro- claimed the third Saturday in May of each year as Armed Forces Day. A third Proclamation reaffirm- ing this permanent annual date was issued by Presi- dent Kennedy on March 18,1961. A Department of Defense Directive issued in November 1957 with changes through September 22,1961, implements the Proclamations and provides the basic authority for Armed Forces Day and reaffirms the policy of the Department of Defense with respect to observances which have significance for the Services individually. Under the Directive, Armed Forces Day observances in 1962 will be held during the period May 12-20.

Sbgun: POWER FOR PEACE, a slogan adopted in 1953 and used for nine of the past twelve Armed Forces Day observances, will be retained as the slogan in 1962. This slogan, so appropriate to our national policy, emphasizes the basic concept that our national security and our free way of life depend upon the power which comes from American team- work and national unity.

Tvpe of Observance: Armed Forces Day is primar- ily an “open house” program. However, the observ- ance is a public event and may be the occasion for a wide variety of community activities. Wherever feasible, the public is invited to visit posts, camps, stations, bases, armories, reserve centers, and other facilities in our national defense system. Although major emphasis is on the “open house” observance, properly sponsored community programs are author- ized and encouraged.

Public Interest: Major participation in Armed Forces Day observances is by the components of the Defense team-Army, Navy, Air Force, Marine Corps, Coast Guard, and Reserve Components of the above to include the National Guard and the Air Na- tional Guard but the observance also involves organi- zations and programs related to the defense effort.

Records show that the public has welcomed this annual opportunity to see the defense team in opera- tion and that public participation in Armed Forces Day activities has increased annually. In 1961, over 25 million people attended or participated in the “open house” and community programs in the United States and abroad. Millions of others learned more about our national security through newspa- pers, magazines, radio and television programs, and other media.

A.S.N.E. Journal. Fobruoty, IIU 179