128 ANNUAL EEPOET SMITHSONIAN INSTITUTION, 1924 



ANNUAL REPORT OF THE PERMANENT COMMITTEE 



The secretary, on behalf of the permanent committee, read the 

 report, as follows: 



Hodffkins and RoeMing funds. — Work is continuing steadily in the solar 

 radiation researches being conducted on the Montezuma Mountain, Chile, un- 

 der an annual grant of .$5,000 from the Hodgkins fund. Mr. John A. Roebling 

 has added generously to his contributions to aid the work at this station, and 

 also at the one on Mount Harqua Hala, Ariz. These researches are being car- 

 rietl on under the direction of Dr. Charles G. Abbot, assistant secretary of the 

 Institution and director of the Astrophysical Observatory. 



Freer bequest. — The balance of the loan of $200,000 made to settle this estate 

 was paid during the year. 



In view of the fact that the Freer Foundation is invested entirely in Parke, 

 Davis & Co.'s stock, the permanent committee took up the matter of safeguard- 

 ing its principal and income ; and, after careful consideration, decided upon 

 what may be termed a sinking fund, by which that part of the income in ex- 

 cess of 6 per cent on the value of the foundation at the time of Mr. Freer's 

 death is to be reinvested in high-class securities and real-estate mortgages 

 until an amount equal to the original foundation is reached. 



Poore bequest. — Negotiations are now pending for the sale of several of the 

 lots in Lowell, Mass., received under this bequest, which will net the Institu- 

 tion about $1,500. The remaining lots will be disposed of as opportunity offers. 

 Since the last meeting of the board the city of Lowell has agreed to abate the 

 taxes on this property. 



All the other funds previously detailed are in sound condition and are slowly 

 but steadily increasing in volume through the addition of their earnings to 

 the principal. 



The consolidated fund, which comprises bequests and gifts to the Institu- 

 tion in addition to the $1,000,000 deposited in the United States Treasury in 

 accordance with the organic act, now amounts to $196,570.28. 



secretary's ANNUAL REPORT 



In submitting his annual report of the operations of the Institu- 

 tion for the fiscal year ending June 30, 1923, the secretary stated 

 that the publications of the Institution are its chief means of carry- 

 ing out one of its primary functions, the " diffusion of knowledge 

 among men." Since the last annual meeting of this board, in Decem- 

 ber 1922, the Institution and its branches have issued a total of 98 

 publications, both volumes and pamphlets. Of this number, 49 were 

 published by the Institution proper, 44 by the National Museum, 4 

 by the Bureau of American Etlinology, and 1 by the National Gallery 

 of Art. A large part of the edition of each of these publications is 

 distributed free to libraries, educational institutions, and specialists 

 throughout the world. The nation-wide popularity of the Smith- 

 sonian Annual Report is attested by the fact that a cataloguer in the 

 office of the Superintendent of Documents has placed it first among 

 all public documents in number of requests from libraries to receive 

 it. In connection with the publications, the secretary called atten- 

 tion to the inadequacy of the funds available for printing. 



