EXECUTIVE COMMITTEE REPORT 161 



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 

 l^^iistler, Thayer, Dewing, and other artists. Later he also gave 

 funds for 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 endowment 

 fund for the operation of the Gallery. 



The above fund of Mr. Freer was almost entirely represented by 

 20,465 shares of stock in Parke, Davis & Co. As this stock advanced 

 in value, much of it was sold and the proceeds reinvested so that the 

 fund now amounts to $6,951,703.80 in selected securities. 



SUMMARY OF ENDOWMENTS 



Invested endowment for general purposes $1, 795, 280. 28 



Invested endowment for specific purposes other than Freer endow- 

 ment 1, 749, 305. 72 



Total invested endowment other than Freer endow- 

 ment 3, 544, 586. 00 



Freer invested endowment for specific purposes 6, 951, 703. 80 



Total invested endowment for all purpo.ses 10, 496, 289. 80 



CLASSinCATION OF INVESTMENTS 



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



authorized 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 $873, 194. 93 



Stocks 1, 558, 447. 71 



Real estate and first-mortgage notes 6, 071. 00 



Uninvested capital 106, 872. 36 



2, 544, 586. 00 



Total investments other than Freer endowment 3, 544, 586. 00 



Investments of Freer endowment (cost or market 

 value at date acquired) : 



Bonds $4, 012, 130. 08 



Stocks 2, 925, 890. 21 



Uninvested capital 13, 683. 51 



6, 951, 703. 80 

 Totalinvestments _--,--, .,_ __ 10,496.289.80 



