ANNUAL REPORT OF THE PRESIDENT 7t visor. Their conscientious and diligent efforts provide for a smooth and well-organized administrative and financial functioning of your SocmTv. Never before has the SOCtETY enjoyed the convenience and ease in quickly determining our financial status or any aspect of our SocmTv'S func- tioning. As our membership and activities continue to grow in size and complexity, our facilities and staff will have to keep pace and expand to meet 1he needs. We have already outgrown the facilities of our small office for current operations. Our operating staff will also have to be augmented when possible. Although our current financial assets of approximately S190,000 has increased from previous years, this generates only a portion of the funds necessary for operating our SOC•ETY with its increased programs and needs. Our Investrnent Trustees Committee, headed by Dr. Herman Jass, successfully supervised approximately ,$140,000 in investments and reports a net gain of about $13,000 in our investment portfolio for 1968. A Scholarship Committee was established this year under the Chair- manship of Past-President William Mueller. The formation of a pro- gram concerning this vital area of interest is now in development and should be finalized in the near future. A minimum of ,$2000 will be given by the S.C.C. in 1969 as grants to colleges and universities that include courses in Cosmetic Science. The SOCmTY has recognized outstanding contributions to the in- creasing technology of cosmetic sciences with many awards. Dr. John Strauss and Dr. Peter Pocchi of the Department of Dermatology, Boston University Medical School, were the recipients of the Literature Award presented last April in Washington, D.C. Their selection was based on the recommendations of the Literature Review and Literature Award Committee headed by Dr. Paul Finklestein. In September, 1968, the IFF Award was presented jointly to Dr. Karl Laden of the Gillette Re- search Institute, Washington, D. C., and Dr. Robert Spitzer, Assistant Professor Chicago Medical School. Tonight we will award the highest honor that our SOCmTY bestows when we present the Gold Medal Award to Mr. Lester Conrad, Past-president of our SOCIETY and active member. Mr. Conrad was the unanimous choice of the Medal Award Committee headed by Dr. Sol Gershon, the 1966 Medalist. This distinguished com- mittee included three Medalists. Chapter awards were reviewed by David Garlen and his Chapter Awards Committee. This committee was pleased to report that the New England Chapter, the Midwest Chapter and the New York Chapter were able to present Chapter Awards of $250 each this year for outstanding technical papers presented

72 JOURNAL OF THE SOCIETY OF COSMETIC CHEMISTS at a Chapter meeting. Dr. Sol Gershon, Chairman of the Awards and Recognition Committee, has presented a Committee report which lays the ground work for a new series of financial awards to be presented by the Socm•'Y on behalf of companies in our Industry for best papers pre- sented in given areas of interest. This pro•ram will be fully outlined and presented to the membership shortly. I wish to acknowledge the efforts and accomplishments of Marshall Sorkin and his Education Committee, Dr. Thomas Smith and the Li- brary Committee, and Mitchell Schlossman who has supervised the 1968 survey of our membership--the results of which are now being tabulated. Shirley Ann DeRagon has substantially increased and ex- panded our Public Relations Committee functions and has done much in enhancing the public image of the SOCIETY. A special committee was appointed this year, headed by Robert Goldemberg, to establish a Speaker's Bureau. Under his dynamic leadership, such a bureau is already functioning with more than 35 members participating in this important activity. Our participation in the International Federation of Societies of Cosmetic Chemists was heightened this year with the 5th International Congress in Tokyo, Japan, being attended by 60 representatives from the United States. S.C.C. Past-president Lester Conrad completed his term of office as President of the International Federation and repre- sented our SOCmT¾ extremely effectively while simultaneously serving as Chairman of our International Affairs Committee. The entire mem- bership of the S.C.C. was kept well informed of any activities occurring throughout the world that had any significant revelance to the field of cosmetics. We were kept aware of pending legislation that could seri- ously affect us in various foreign countries. The By-Laws Committee, under the capable leadership of Past- president Warren Dennis, was kept busy this year and, as always, ably served in an advisory capacity to your President whenever requested. I would like to especially acknowledge the help of the immediate Past-president Henry Maso, Chairman of the Advisory Committee, who was always available with wise counsel whenever necessary. Charles Fox, Natalie Collins, James Jenkins, and Morris Root, elected Directors of the SocietY, were busily involved with various Committee assignments. All of the six Chapter Chairmen, who are also Directors of the Socmrr¾, have been of immense help in bringing the opinions and viewpoints of their respective memberships to the Board. In my visits to the various Chapters, I could not help but notice the cordial, congenial