132 ANNUAL REPORT SMITHSONIAN INSTITUTION, 1941 



CONSOLIDATED FUND 



Statement of pHnclpal and income for the last 10 years 



FREER GALXERY 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 

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

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

 finally in his will, probated November 6, 1919, he provided stock 

 and securities to the estimated value of $1,958,591.42 as an endow- 

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

 to the present time these funds have been increased by stock divi- 

 dends, savings of income, etc., to a total of $6,030,586.91. In view 

 of the importance 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 $675, 573. 37 



Court and grounds maintenance fund 169, 656. 83 



Curator fund 687, 507. 68 



Residuary legacy 4,497,849.03 



Total 6, 030, 586. 91 



SUMMARY 



Invested endowment for general purposes $1, 327, 936. 25 



Invested endowment for specific purposes other than Freer endow- 

 ment 881, 326. 76 



Total invested endowment other than Freer endowment 2,209,263.01 



Freer invested endowment for specific purposes 6, 030, 586. 91 



Total invested endowment for all purposes 8,239,849.92 



CLASSIFICATION OF INVESTMENTS 



Deposited in the U. S. Treasury at 6 percent per annum, as 

 authorized in the United States Revised Statutes, sec. 5591 $1, 000, 000. 00 



