REPORT OF THE SECRETARY, 9 



In addition to the above permanent fund, the Regents hold 

 certain approved railroad bonds which forni part of the fund 

 established l)v Mr. Hodgkins for investigations into the prop- 

 erties of atmospheric air. 



The act organizing the Institution (sec. 5591, U. S. Revised 

 Statutes) was amended by act of Congress approved March 

 12, 1894, as follows: 



The Secretary of the Treasury is authorized and directed to 

 receive into the Treasury on the same terms as the original 

 bequest of Jau '.^s Smithson such sums as the Regents may, 

 from time to time, see tit to deposit; not exceeding with the 

 original bequest the sum of one million dollars: Proiuded, 

 That this shall not operate as a limitation on the power of the 

 Smithsonian Institution to receive money or other, property 

 by gift, bequest, or devise, and to hold and dispose of the 

 same in i)romotion of the purposes thereof. 



Under this provision the permanent fund of $912,000 is 

 deposited in the Treasury of the United States, and bears 

 intei'est at 6 per cent per aniuim. The interest alone is em- 

 ployed in carrying out the aims of the institution. 



The unexpended balance at the beginning of the fiscal year, 

 July 1. 1900, as stated in my last report, was $76,219.07. 

 The total receipts l)y the Institution during the year were 

 $66,829.39. Of this sum $56,400 was derived from interest, 

 while the remaining $10,429.39 was received from miscellane- 

 ous sources. 



The amount disbursed during the year was $59,085.20, the 

 details of which are given in the report of the executive com- 

 mittee. The })alance remaining to the credit of the Secretary 

 on June 30, 1901, for the expenses of the Institution was 

 $S3,!t63.26. which includes the $10,000 specitically referred to 

 in pi-evious reports, as well as the interest accunudated on the 

 Hodgkins and other funds, which is held against certain con- 

 tingent obligations, besides relatively consideral)le sums held 

 to meet liabilities which ma}' be expected to mature as a result 

 of various scientific investigations and pu])lications in progress. 



During the fiscal year of 1901 Congress charged the Insti- 

 tution with the disbursement of the following appropriations: 



International Exchanges, SnHth.«onian Institution %2A, 000 



American Ethnology, Smithsonian Institution 50, 000 



Astrophysical ( )bservatory, Smithsonian Institution $12, 000 



Observation of eclii)se of the sun. May 28, 1900 4,000 



16. 000 



