REPORT OF EXECUTIVE COMMITTEE 99 



FREER GALLERY OF ART FUND 



Early in 1906, by deed of gift, Charles L. Freer, of Detroit, gave 

 to the Institution his collection of Chinese and other oriental objects 

 of art, as well as paintings, etchings, and other works of art by 

 Wliistler, Thayer, Dewing, and other artists. Later he also gave 

 funds for the construction of a building to house the collection, and 

 finallj'^, in his will, probated November 6, 1919, he provided stock and 

 securities to the estimated value of $1,958,591.42 as an endowment 

 fund for the operation of the gallery. From the above date to the 

 present time these funds have been increased by stock dividends, sav- 

 ings of income, etc., to a total of $4,651,867.07. In view of the impor- 

 tance and special nature of the gift and the requirements of the 

 testator in respect to it, all Freer funds are kept separate from the 

 other funds of the Institution, and the accounting in respect to them 

 is stated separately. 



The invested funds of the Freer bequest are classified as follows : 



Court and grounds fund $521, 158. 68 



Court and grounds maintenance fund 131,062.81 



Curator fund 530, 333. 92 



Residuary legacy 3, 469, 311. 66 



4, 651, 867. 07 

 SUMMARY 



Invested endowment for general purposes $1, 117, 419. 22 



Invested endowment for specific purposes other than Freer endow- 

 ment 692, 834. 74 



Total invested endowment other than Freer endowment 1, 810, 253. 96 



EYeer invested endowment for specific purposes 4, 651, 867. 07 



Total invested endowment for all purposes 6, 462, 121. 03 



CLASSIFICATION OF INVESTMENTS 



Deposited in the U. S. Treasury at 6 percent per annmn, as au- 

 thorized in the U. S. Revised Statutes, sec. 5591 $1, 000, 000. 00 



Investments other than Freer endowment (cost or 

 market value at date acquired) : 



Bonds (20 difeerent groups) $334,888.21 



Stocks (55 different groups) 428,954.79 



Real estate and first-mortgage notes 41, 746. 00 



Uninvested capital 4, 664. 96 



810, 253. 96 



Total investments other than Freer endowment 1, 810, 253. 96 



112059—37 8 



