MINUTES Xlll 



Assets of the Carnegie Institution. 



In the endowment : 



One hundred registered 5 per cent, bonds of the United States 



Steel Corporation $10,000,000 



In the reserve fund : 



Northern Pacific Railway Company Land Grant Gen- 

 eral Mortgage 4's of 1997 $50,000 



Atchison, Topeka, and Santa Fe Railroad Company 



General 4's of 1995 50,000 



100,000 



Office outfit at Washington (estimated) 1,500 



$10,101,500 



On the submission of the report of the Executive Committee, the 

 chairman made a general statement supplementary to that made by 

 the President, in relation to the results of the work accomplished by 

 the Institution thus far, and of the scope of its future work as indi- 

 cated by the grants recommended. 



A somewhat extended discussion followed on the subject of minor 

 and larger grants, and a series of resolutions was passed making 

 the following general appropriations : 



Reserve fund $100,000 



Publication fund, to be continuously available 40,000 



Administration 60,000 



Grants for large projects 130,000 



Grants for minor researches 200,000 



Special grants 43,000 



Mr. Carnegie then expressed his satisfaction with the progress 

 thus far made, and with the plans as outlined for the future, and 

 thanked the Trustees for the work they are doing for the Institution. 



At 12.30 the Board took a recess until 2 p. m. 



11 



