EEPORT OF THE EXECUTIVE COMMITTEE. 119 



The coupous on the Virgiuia bonds held by the Institution were sold 

 on the 19th May, 1874, by Eiggs & Co., with the tollowiug result : 



$1,200 Virginia coupons, at 77^ , $925 50 



$2,322 Virginia coupons, at 77 1, 787 91 



2, 713 44 

 Less charges 17 01 



$2,095 S3 



This amount was deposited with the Treasurer of the United States 

 on account of the current expenses of tbe Institution for the year. 



The value of the Virginia bonds held by the Institution has increased 

 during the year about $2,000. 



Coupons due July 1, 1874, and January 1, 1875, are still uncollected, 

 and will form part of the income for the year 1875. 



It was stated in the last report that at the time of the suspension of 

 tlie First National Bank of Washington, (19th September, 1873,) where 

 the current funds of the Smithsonian had been deposited, there were 

 $8, 221.87 to the credit of the Institution ; and that on the 11th of No- 

 vember, 1873, a dividend of 30 per cent., or $2,467.46, had been received, 

 leaving a balance of $5,757.41 due. A second dividend on this de])osit 

 was made on the 7th of April, of 1874, of $1,044.97, still leaving 

 $4,112.43 due the Institution, which it is hoped will be received ac least 

 in part during the coming year. 



Statement of the receipts and expenditures in 1874: 



EECEIPTS. 



Interest on $650,000 from the United States, 6 per cent., 



gold '. $39,000 00 



Interest on $1,000 from the Hamilton bequest, from 24th 



February, 1874, to 31st December, 1874 50 88 



Premium on gold 30th Juue, 1874, llO-J^; and 31st Decem- 

 ber, 1874, 112|, (less commission) 4, 308 35 



Interest on Virginia stock, coupous sold, (9th May, 1874). 2,695 83 



Twenty per cent, dividend from First National Bank, (7th 



April, 1874) 1, 644 97 



Total receipts 47, 700 03 



EXPENDITURE. 



Total expenditure from the Smithson income in 1874 ....... 44, 016 72 



Balance unexpended of the annual income which is includ- 

 ed in the cash balance in the Treasury, ($15,909.99) 3, 683 31 



