Report of President Indicates Steady Progress Made: Finances Show Surplus R. W. E. Souter, President of the Foreign Y.M.C.A., in his annual report for 1937 sai—During the year under review there has been steady progress in all lines of activity, and this is most satisfactory, particularly when you consider that the latter half of the year comprised the very difficult days when harsh and boisterous war disrupted the ordinary life of Shanghai.
We are glad that our staff, and all who rallied to their assistance, were able to maintain the "Y" services in the face of the many difficulties during the emergency war days.
"The detailed reports of our several committees give the full and complete story of our solid achievements during 1937. Our financial position has been more than maintained. We added to the reserve originally set up for depreciation and contingencies, as shown
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