EEPOKT OF THE EXECUTIVE COMMITTEE. 573 



The coupons on the Virginia bonds held by the Institution were sold 

 on the 19th May, 1874, by Riggs & Co., with the following result : 



$1,200 Virginia coupons, at 77£ $925 50 



$2,322 Virginia coupons, at 77 , 1, 787 94 



2, 713 44 

 Less charges 17 61 



$2,695 83 



This amount was deposited with the Treasurer of the United States 

 on account of the current expenses of the Institution for the year. 



The value of the Virginia bonds held by the Institution has increased 

 during the year about $2,000. 



Coupons due July 1, 1874, and January 1, 1875, are still uncollected, 

 and will form part of the income for the year 1875. 



It was stated in the last report that at the time of the suspension of 

 the First National Bank of Washington, (19th September, 1873,) where 

 the current funds of the Smithsonian had been deposited, there were 

 $8, 224.87 to the credit of the Institution ; and that on the 11th of No- 

 vember, 1873, a dividend of 30 per cent., or $2,467.46, had been received, 

 leaving a balance of $5,757.41 due. A second dividend on this deposit 

 was made on the 7th of April, of 1874, of $1,644.97, still leaving 

 $4,112.43 due the Institution, which it is hoped will be received at least 

 in part during the coming year. 



Statement of the receipts and expenditures in 1874 



EECEIPTS. 



Interest on $650,000 from the United States, 6 per cent., 

 gold $39, 000 00 



Interest on $1,000 from the Hamilton bequest, from 24th 

 February, 1874, to 31st December, 1874 50 88 



Premium on gold 30th June, 1874, HO-jL; and 31st Decem- 

 ber, 1874, 1121 (i ess commission) 4, 308 35 



Interest on Virginia stock, coupons sold, (9th May, 1874). 2,695 83 



Twenty per cent, dividend from First National Bank, (7th 



April, 1874) 1, 644 97 



Total receipts 47,700 03 



EXPENDITURE. 



Total expenditure from the Smithson income in 1874 44, 016 72 



Balance unexpended of the annual income which is includ- 

 ed in the cash balance in the Treasury, ($15,909.99) 3, 683 31 



