6 ANNUAL REPORT SMITHSONIAN INSTITUTION, 19 31 



Disbursements— Continued. 



From funds for specific use other than Freer 

 endowment — 



Investments made from gifts, from gain 

 from sales, etc., of securities and from 



savings on income $78, 074. 41 



Other expenditures, consisting largely of 

 research work, travel, increase and care 

 of special collections, etc., from income 

 of endowment funds and from cash gifts 

 for specific use (including temporary ad- 

 vances) 185, 547. 69 



Cash capital from sale, call of securities, 



etc., reinvested 59, 873. 34 



$323, 495. 44 



From Freer endowment — 



Operating expenses of gallery, salaries, 



purchases of art objects, field oxpen.ses, 



etc 289, 883. 42 



Investments made from gain from sale, 



etc., of securities and from income 110, 128. 62 



Cash capital from sale, call of securities, 



etc., reinvested 1, 15S. 127. 73 



1, 558, 139. 77 



Balance June 30, 1931 224,221.84 



Total 2, 186, 692. 10 



Recapitulation of receipts, exclusive of Freer funds, during the year endinfj June 



30, 19S1 



General uses : 



For addition to endowment $4,663.67 



Reserved as income 86,870.52 



$91, 534. 19 



Specific uses: 



Gifts accretions to endowment' 81,559.89 



Gifts for specific use not to be invested 90, 064. 79 



Cash income from endowments for addition to en- 

 dowment 6, 026. 26 



Cash income from endowments and from other sources 



for conducting researches, explorations, etc 56, 502. 67 



Cash capital from sale, call of securities, etc. (to 

 be reinvested) 64,315.59 



298, 469. 20 



Total receipts, exclusive of Freer funds 390. 003. 39 



3 Approximately $22,000 of this amount was paid in connection with the settlement of 

 estate. 



