REPORT OF THE EXECUTIVE COMMITTEE 167 



Disbursements — Continued 

 From Freer endowment : 



Operating expenses of the Gallery, salaries, 



field expenses, etc $79, 218. 52 



Purchase of art objects 124, 790. 00 



Reinvestment of cash capital from sale, call 



of securities, etc gsi, 000. 95 



Cost of handling securities, fee of invest- 

 ment counsel, and accrued interest on 



bonds purchased 21,786.82 



$1, 179, 796. 29 



Cash balance June 30, 1947 902, 456. 19 



Total 2, 826, 330. 66 



Included in the above receipts was cash received as royalties from 

 sales of Smithsonian Scientific Series to the amount of $28,539.80. 

 This was distributed as follows : 



Smithsonian Institution endowment fund $12, 608. 21 



Smithsonian Institution emergency fund 3, 152. 05 



Smithsonian Institution unrestricted fund, general 9,456.16 



Salaries 3, 323. 38 



28, 539. 80 

 Included in the foregoing are expenditures for researches in pure 

 science, publications, explorations, care, increa.se, and study of collec- 

 tions, etc., as follows : 



Expended from general funds of the Institution: 



Publications $19, 186. 21 



Researches and explorations 22, 682. 26 



$41, 868. 47 



Expenditures from funds devoted to specific purposes : 



Researches and explorations 64,917.41 



Care, Increase, and study of special collections 3, 186. 41 



Publications 10, 996. 61 



79, 100. 43 



Total 120, 968. 90 



The practice of depositing on time in local trust companies and 

 banks such revenues as may be spared temporarily has been continued 

 during the past year, and interest on these deposits has amounted to 

 $642.64. 



The Institution gratefully acknowledges gifts or bequests from the 

 following : 



The Viking Fund, Inc., New York City, for Iroquois research. 



Ernest N. May, for scientific exploration, particularly in the West Indies. 



John A. Roebling, as a further contribution for research in radiation. 



777488 — 48 12 



