46 NEW YORK ZOOLOGICAL SOCIETY 



in and credited to a new account known as the "Cadwalader 

 Animal Fund," and has been invested in securities yielding net 

 income at the rate of 5 per cent per annum. 



The balance of income to the credit of this fund on Decem- 

 ber 31, 1914, amounted to $500. 



Caroline Phelps Stokes' Bird Fimd. — This fund consists of 

 the income from the fund of $5,000 invested in bonds of the 

 Illinois Central Railway Company, bequeathed to the Society by 

 Miss Caroline Phelps Stokes, deceased, and is devoted to the 

 protection of bird life throughout the country. The expendi- 

 tures for this fund during the year amounted to $332, and were 

 made in the interest of the protection of birds in Virginia, and 

 for the purchase of copies of Dr. Hornaday's lectures, delivered 

 before Yale University Forestry School, now in text-book form, 

 and entitled "Wild Life Conservation in Theory and Practice," 

 for distribution among colleges, universities and forestry schools 

 throughout the country, with a view to the promotion of the use 

 of that work as a text book. 



The balance of income to the credit of this fund on Decem- 

 ber 31, 1914, amounted to $134.69. 



MAINTENANCE. 



Pa7'A-.— The sum of $200,000 provided by the City for the 

 maintenance of the Zoological Park for the year 1914 proved 

 sufficient, and the year closed without a deficit. A similar amount 

 has been appropriated for the year 1915. It will prove difficult 

 to live within this amount, however, by reason of certain neces- 

 sary increases in salaries and the return of Mr. C. William Beebe, 

 Curator of Birds, to the pay rolls of the Society, as well as the 

 continued increase in the cost of supplies. Mr. Beebe's salary 

 for the last five years has been borne by Col. Anthony R. Kuser 

 in connection with his work on the Pheasant Monograph. 



It is practically out of the question to secure an increase in 

 this fund from the City for several years, so it will be necessary 

 to be even more economical than usual in order not to have a 

 deficit at the close of the year. 



Aquarium. — The amount of $47,000 provided by the City 

 for the maintenance of the Aquarium for the year 1914 proved 

 barely sufficient to close the year without a deficit. During the 

 summer this fund was in excess of its monthly average to the 



