REPORT OF THE EXECUTIVE COMMITTEE. 



The Executive Committee of the Board of Regents respectfully submit 

 the following report in relation to the funds of the Institution, the re- 

 ceipts and expenditures for the year 1873, and the estimates for the 

 year 1874 : 



Statement of the fund at the beginning of the year 1874. 



The amount originally received as the bequest of James 

 Smithson, of England, deposited in the Treasury of the 

 United States, in accordance with the act of Congress 

 of 10th August, 1846 $515, 169 00 



The residuary legacy of Smithson, received in 1865, de- 

 posited in the Treasury of the United States, in accord- 

 ance with the act of Congress of 8th February, 1867. .. 26, 210 63 



Total bequest of Smithson 541, 379 63 



Amount deposited in the Treasury of the Uuited States, 

 as authorized by act of Congress of Sth February, 1867, 

 derived from savings of income and increase in value of 

 investments 108,620 37 



Total permanent Smithson fund in the Treasury 

 of the United States, bearing interest at 6 per 



cent., payable semi-annually in gold 650, 000 00 



In addition to the above there remains of the extra fund 

 from savings, &c, in Virginia bonds and certificates, 

 viz, consolidated bonds, $58,700 ; deferred certificates, 

 $29,375.07 ; fractional certificate, $50.13, now valued at. 33, 000 00 

 Cash balance in United States Treasury at the beginning 

 of the year 1874, as a special deposit, for current ex- 

 penses 12,226 68 



Amount due from the First National Bank, (present value 

 unknown) , $5, 757 41 



Total Smithson funds, January, 1874 695, 226 68 



565 



