42 NEW YORK ZOOLOGICAL SOCIETY 



FINANCES. 



Sage Bequest. — During the year the Society received its first 

 large bequest from the Estate of the late Mrs. Russell Sage. The 

 precise amount of the legacy which consists of l/52nd part of 

 the residuary estate is undetermined. It is stated in the press 

 to be in the neighborhood of $800,000. 



The present inheritance law, which, as it now stands, falls 

 most severely upon scientific, educational and religious institu- 

 tions, will reduce this amount very greatly so that the net amount 

 received by the Society will be about $500,000. This law, how- 

 ever, will be modified or repealed in all probability. 



While your Committee for the first time feel relieved on the 

 score of future responsibilities after 1919, no portion of this sum 

 will be available and no reliance is placed upon income from this 

 very handsome bequest during the current year. 



Balances to the credit of the several funds in the Farmers' 

 Loan & Trust Company, as of December 31, 1918, are as follows: 



Income Account $10,877.24 



Animal Fund 29,684.26 



Stokes Bird Fund 458.54 



Cadwalader Animal Fund 1,775.00 



Tropical Research Fund : 



409.19, balance for 1918 



4,000.00, subscriptions, 1919 4,409.19 



National Collection Heads & Horns 107.16 



Heads & Horns Building Fund 5.55 



Wild Life Fund 930.07 



Art Gallery Fund 7,421.68 



Publication Fund 1,597.53 



Pheasant Aviary Fund 93.21 



Library Fund 209.48 



Special Maintenance Fund, 1919 5,700.00 



Total $63,268.91 



Improvements and Repairs 6,221.50 



Carnegie Pension Fund Income Account: 

 Farmers' Loan & Trust Co., $4,002.32 

 Corn Exchange Bank, Bronx, 233.85 4,236.17 



