6 ANNUAL REPORT SMITHSONIAN INSTITUTION, 1921. 



In partial settlement of the Charles L. Freer bequest the Institu- 

 tion received, in October, 1920, 3,919 shares of the stock of Parke. 

 Davis & Co. (Inc.), and in March, 1921, 10,000 shares, making a 

 total of 13,919 shares. The dividends are required to be expended 

 in accordance with the terms prescribed by the testator. The total 

 amount received by the Institution from this source since the trans- 

 fer of these shares was $25,970.75, and the sum of $15,026.01 has been 

 expended. 



Current funds not immediately required for expenditure are, when 

 conditions will permit, deposited on time in local trust companies 

 and draw 3 per cent per annum. The interest received in this manner 

 during the fiscal year 1921 amounted to $1,066.67. 



The income during the year consisted of interest on permanent 

 investments and other revenues for current expenses, $61,576.32; 

 receipts from bequests and for specific purposes, $110,740.47 ; which, 

 with cash subject to check on July 1, 1920, amounting to $13,304.34, 

 constituted a total of $185,621.13. 



The disbursements described in the annual report of the executive 

 committee were classed as follows: General objects of the Institu- 

 tion, $66,202.39 ; investments and expenditures for specific purposes, 

 $93,816.33; temporary advances for field expenses, etc., $9,373.07, 

 leaving $5,000 deposited on time and $11,229.34 subject to check. 



The Institution was charged by Congress with the disbursement 

 of the following appropriations for the year ending June 30, 1921 : 



International Exchanges $50,000 



American Ethnology — 44,000 



International Catalogue of Scientific Literature 7,500 



Astrophysical Observatory 13,000 



National Museum : 



Furniture and fixtures 20,000 



Heating and lighting 74,000 



Preservation of collections 312,620 



Building repairs 10, 000 



Books 2, 000 



Postage 500 



National Gallery of Art 15,000 



National Zoological Park: 



Maintenance — 125, 000 



Purchase of additional land 80,000 



Total 753, 620 



In addition to the above, there was appropriated for printing and 

 binding $123,123.69 to cover the cost of printing and binding the 

 Smithsonian annual report and reports and miscellaneous printing 

 for the Government branches of the Institution. This includes the 



