Another factor is necessary equipment, a condition varying indefinitely with the problem undertaken. Studies of some of the simpler processes of life may be successfully carried on with barely any apparatus whatever, while others require the most costly and complex of machinery. Deep sea investigations, for example, are possible only with a suitable vessel and elaborate apparatus for dredging and other operations, and such expeditions as that of the Challenger, the Blake, the Albatross and others involve such vast outlays that only the liberality of nations or of the very wealthy render them possible. However, the modest student without a dollar to invest in these expensive undertakings may have the opportunity to work as diligently and effectively as any. So, too, the costly equipments of marine stations, of universities, of national and state museums are open to every earnest worker. Still another condition related to the best effort in research is a satisfactory outlet for publication. Probably no investigator enters on an elaborate extended research without the expectation that such results as he may obtain, especially such as are novel and important to the growth of science, shall at some time be given a public hearing and a permanent record in the annals of science. However much this ambition may be overworked and abused, it must be considered the logical and legitimate outcome of research, valuable as an incentive to work, essential to the progress of science. The output of scientific laboratories is always pressing hard upon the organs of publication, and though we have numerous periodicals open to all, many society proceedings and transactions devoted to their membership, university bulletins intended primarily for the staff and students of each institution, still adequate publication facilities are often wanting. Especially is this true regarding the suitable illustration of papers which depend largely on plates or drawings for the elucidation of the text. Our own modest effort in THE NATURALIST is an attempt to meet one phase of this demand, but you all appreciate, I think, that it is insufficient for the needs of our own institution. Some of the more extended papers resulting from the work of either students or faculty must suffer oblivion, delay or inadequate presentation. Evidently a publication fund is one of our pressing needs.