REPORT OF EXECUTIVE COMMITTEE 



171 



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 

 Whistler, Thayer, Dew^ing, 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 securi- 

 ties 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, it was sold and the proceeds reinvested so that the fund 

 now amounts to $6,936,185.15. 



SUMMARY OF ENDOWMENTS 



Invested endowment for general purposes $1, 816, 977. 98 



Invested endowment for specific purposes other than Freer en- 

 dowment 1, 898, 204. 07 



Total invested endowment other than Freer 3, 715, 182. 05 



Freer invested endowment for specific purposes 6, 936, 185. 15 



Total invested endowment for all purposes 10, 651, 367. 20 



CLASSIFICATION OF INVESTMENTS 



Deposited in the U. S. Treasury at 6 percent per annum, 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 $961, 522. 64 



Stocks 1, 679, 015. 88 



Real estate and mortgages 5, 981. 00 



Uninvested capital 68, 662. 53 



2, 715, 182. 05 



Total investments other than Freer endowment 3, 715, 182. 05 



