ANNUAL REPORT OF THE PRESIDENT 73 atmosphere representing a powerful esprit de corps that has done so much toward the function of a successful As my term draws to a conclusion, I wish to express my grateful appreciation to my fellow officers, committee members, and, especially, to you, my fellow members and friends. It has been extremely gratifying to me to have had the privilege and honor of serving as your President. It now gives me great pleasure to install our new officers for 1969: President Harry Isacoff President-Elect Charles Fox Secretary Agnes Korte Treasurer Kenneth Hartley Director James Jenkins Director Natalie Collins Director Morris Root Director Phyllis Carter Harry, you have served well as President-elect during 1968. You have always been a tremendous help and source of good counsel to me. It is with the greatest pleasure that I now install you as President of the Socm•'Y of COSMETro C}IEM•S•'S. I know that you will serve eompe- tently and successfully as the chief executive officer of our Socm•'Y. In your capable hands I place the responsibility of the leadership of the SOCIETY, the spokesman of all scientists and teehnologists in the cosmetic industry. I know that you will receive the utmost cooperation from all of your officers and fellow members and that 1969 will represent an even greater year of success. My sincerest congratulations to you and your officers. I will complete your installation tonight at the Medal Award Dinner by formally presenting you with the President's Gavel for 1969. Again I repeat my thanks and appreciation to all of you and promise my continued participation in Socm•'Y activities whenever possible.

74 JOURNAL OF THE SOCIETV OF COSMETIC CHEMISTS The Twentieth Medal Award December 3, 1968 Lester I. Conrad, Executive Vice President and Technical Director of American Cholesterol Products, Inc., received the Medal Award of the Society of Cosmetic Chemists at the December 3, 1968, Medal Award Dinner Dance held at the Hotel Americana, New York City. The award is given annually for outstanding contributions to the Art and Science of Cosmetics. Lester I. Conrad, Executive Vice President and Technical Director of American Cholesterol Products, Inc., winner of the 1968 Medal Award of the Society of Cosmetic Chemists