JOURNAL OF PROCEEDINGS. 423 



The Secretary presented a general statement of the condition of tlie 

 fund, and the receipts and expenditures for the year 1873, which was 

 referred to the executive committee. 



The Secretary called attention to the liberality of Mr. George W. Riggs, 

 the banker, who, after the suspension of the First National Bank, in Sep- 

 tember last, had advanced the funds necessary to carry on the operations 

 of the Institution, amounting to upward of $10,000, on which he had 

 declined to charge any interest. 



On motion of Mr. Hamlin, it was 



Resolved. That the cordial thanks of the Board of Eegents be tendered 

 to Mr. Riggs, for his generosity in his financial services to the Institu- 

 tion. 



The Secretary stated that, in accordance with the resolution of the 

 Board, he had applied to the Treasury Department to take charge of 

 the Smithsonian funds for current operations, and that arrangements 

 had been made with General Spinner, United States Treasurer, to re- 

 ceive deposits from the Institution, and make payments on checks of 

 the Secretary, in the same manner as had been done in the First National 

 Bank. 



The Institution is indebted to General Spinner for nis prompt acqui- 

 escence in the proposition, aud his authority for carrying it out in all 

 the details necessary to facilitate its operation. 



The Secretary gave an account of the history and operations of the 

 Institution, particularly for the information of the new members of the 

 board. 



The board adjourned at 9 p. m., to meet on Monday, 26th January, 

 at 7 o'clock p. m. 



January 26, 1874. 



A meeting of the Board of Regents was held this day at 7 o'clock p. 

 m. Present Mr. Justice Clifford, chancellor of the Institution, Hon. H. 

 Hamlin, Hon. J. W. Stevensou, Hon. A. A. Sargent, Hon. B. R. Hoar, 

 Hon. G. W. Hazelton, Hen. P. Parker and the Secretary, Professor 

 Henry. 



The minutes of the last meeting were approved. 



Dr. Parker presented the annual report of the executive committee, 

 which was read and, on motion of Mr. Stevenson, adopted. 



The Secretary called attention to the bequest of James Hamilton, 

 and presented the following letter from one of the executors: 



Carlisle, Pa., January 23, 1874. 

 Dear Sir : Yours of 20th instant received and contents noted. 

 The executors will be ready to pay over the legacy (bequeathed by Mr. 



