REPORT OF THE 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, 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 ahnost 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 $6,752,796.55 in selected securities. 



SUMMARY OF ENDOWMENTS 



Invested endowment for general purposes __ $1, 753, 166. 34 



Invested endowment for specific purposes other than Freer 

 endowment 1, 614, 750. 21 



Total invested endowment other than Freer endowment.- 3, 367, 916. 55 

 Freer invested endowment for specific purposes 6, 752, 796. 55 



Total invested endowment for all purposes 10, 120, 713. 10 



CLASSIFICATION 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 $677, 763. 74 



Stocks 1, 566, 862. 25 



Real estate and first-mortgage notes 13, 610. 03 



Uninvested capital 109, 680. 53 



. 2, 367, 916. 55 



Total investments other than Freer endowment 3, 367, 916. 55 



Investments of Freer endowment (cost or market 

 value at date acquired) : 



Bonds $3, 682, 580. 68 



Stocks 3,070,009.40 



Uninvested capital 206. 47 



6, 752, 796. 55 



Total investments 10, 120, 713. 10 



