4 ANNUAL REPORT SMITHSONIAN INSTITUTION, 1921. 



bone Bacon scholarship for the study of the fauna of countries other than the 

 United States of America; the incumbents to be designated by said Institute 

 under such regulations as it may from time to time prescribe and to hold 

 such scholarship not less than two years, and while holding such scholarship 

 to conduct for said Institute investigations in the fauna of other countries 

 under the direction of said Institute. 



During the year the Institution received from the executors of 

 Mrs. Bacon's estate securities amounting to $45,000 on account of the 

 total $50,000. At the close of the year sufficient income from this 

 amount had not been received to enable the first scholarship to be 

 established, but it is planned to inaugurate the project during the 

 coming year. 



Miss Caroline Henry, daughter of Joseph Henry, first secretary of 

 the Institution, died November 10, 1920. Under the terms of her 

 will the Institution is named as the ultimate beneficiary, the entire 

 estate reverting to it after the death of the last life beneficiary, as a 

 memorial to her father and mother. Miss Henry also bequeathed to 

 the Institution the sum of $1,000 and certain articles of furniture; 

 to the National Museum a set of china presented to Joseph Henry 

 by the first Japanese minister; and to the National Gallery of Art 

 an oil portrait by Kneller. 



FINANCES. 



The investments of the Institution are as follows : 

 Deposited in the Treasury of the United States under authority 



of Congress $1, 000, 000 



CONSOLIDATED FUND. 



These securities are carried at cost and represent the investments 

 made by the Institution, or gifts transferred to the Institution by the 

 donors. The total of this fund now amounts to $157,562.05, namely : 



Province of Manitoba 5 per cent gold debentures, due in 1922 $2, 000 



West Shore Railroad Co. guaranteed 4 per cent first mortgage bonds, • 



due in 2361 42, 000 



Cleveland Electric Illuminating Co. first mortgage 5 per cent gold bonds, 



due in 1939 10,000 



Atchison, Topeka & Santa Fe Railroad Co. 4 per cent general mortgage 



bonds, due in 1995, gift 2, 000 



Chesapeake & Ohio Railroad Co. 5 per cent first consolidated mortgage 



bonds, due in 1939, gift 2,000 



Baltimore & Ohio Railroad Co. 5 per cent refunding general mortgage 



bonds, due in 1995, gift 5,000 



P. Lorillard Co. 7 per cent gold bonds, due in 1944, gift 6, 000 



Liggitt & Myers Tobacco Co. 7 per cent gold bonds, due in 1944, gift 6, 000 



City of Youngstown, Ohio, 6 per cent municipal bonds, due in 1928 3, 000 



Brooklyn Rapid Transit Co. 5 per cent secured gold notes, due in 1918 3, 500 



Northern Pacific — Great Northern joint convertible 6} per cent gold 



bonds, due in 1936 41,500 



