REPORT OF THE PRESIDENT, I91I, 



17 



The aggregate receipts from interest on endowment, 



^ andE^enctoel^'^fi'O"^ interest on bond investments, from interest on de- 



of the Institution posits in banks, from sales of publications, from refund 



*° ^'^" on grants, and miscellaneous items to date is $5,929,390.37, 



as shown by the following table : 



* of this amount, $200,250 were received from the sale of bonds in igo8, 1909, and 1910. 



The purposes for which funds have been appropriated by the Board of 

 Trustees of the Institution may be summarily classified under five heads, 

 namely : ( i ) investments in bonds and on account of Administration Build- 

 ing; (2) large projects; (3) minor projects, special projects, and research 

 associates and assistants ; (4) publications; (5) administration. The actual 

 expenditures under these heads for each year since the foundation of the 

 Institution are shown in the followinsr table : 



