THE JOSIAH MACY JR. FOUNDATION, which was founded in 1930 by Mrs. Kate Macy Ladd in memory of her father, has just released a Four Year Report for the years 1937 to 1940 inclusive. Income and transfers for the four years covered by the Report totalled $1,079,144, and cash disbursements amounted to $951,512.61. 'Of the total amount disbursed, seventeen per cent was in support of studies in medical education; twenty per cent for studies of growth, development, maturation and aging; twenty-two per cent for study of psychosomatic disorders; twelve per cent for social research concerning health and sickness; and twenty-nine per cent for medical research in various fields.' This Foundation, from its inception, has been primarily interested in the problems of health focussed upon the patient as an individual, functioning as a psychosomatic unity. 'While scientific knowledge is providing unparalleled instrumentalities