4 ANNUAL EEPORT SMITHSONIAN" INSTITUTION, 1918. 



Gifts. — Dr. Frank Springer has given the Institution the title and 

 custody in perpetuity of his large collection of fossil crinoids and 

 related groups of Echinoderms and has arranged for a fund of 

 $30,000, the income of which is to be devoted to the administration 

 of the collection. 



Dr. W. L. Abbott has continued his generous gifts of collections 

 and his support of an expedition in Celebes under H. C. Raven. 



FINANCES. 



The invested funds of the Institution consist of the following: 



Deposited in the Treasury of the United States under authority 

 of Congress $1, 000, 000. 00 



CONSOLIDATED FUND. 



Brooklyn Rapid Transit 5 per cent notes due July 1, 1918, cost $5, 040. 63 



Province of Manitoba 5 per cent gold debentures due April 1, 1922, 



cost 1, 935. 00 



American Telephone and Telegraph Company 4 per cent collateral 



trust bonds due July 1, 1929, cost 15, 680. 00 



West Shore Railroad Co. guaranteed 4 per cent first mortgage 



bonds due January 1, 2361, market value 37, 275. 00 



59, 930. 63 

 Excess cost of bonds redeemed at par 93. 75 



Total 1, 060, 024. 38 



The combined interest -bearing investments, aggregating 

 $1,060,024.38, are represented by the following funds: 



Smithson fund _ $728,291.00 



Habel fund 500. 00 



Hamilton fund 2, 500. 00 



Hodgkins general fund 153, 275. 00 



Hodgkins specific fund 100,000.00 



Rhees fund 627. 00 



Avery fund 24, 020. 38 



Addison T. Reid fund 11, 672. 00 



Lucy T. and George W. Poore fund 27, 965. 00 



George K. Sanford fund 1, 174. 00 



Chamberlain fund 10,000.00 



Total 1, 060, 024. 38 



One piece of improved real estate in the District of Columbia, be- 

 queathed to the Institution by the late Robert Stanton Avery, was 

 sold during the year; the net amount realized from this sale was 

 $8,721, which amount has been invested in bonds forming a part 

 of the Consolidated Fund. 



The practice of investing surplus funds in certificates of deposit 

 paying 3 per cent per annum has proved most satisfactory; the in- 

 come from this source amounting to $1,275 during the year. 



