TWENTY-FIFTH ANNUAL REPORT 49 
The constant overdrafts in the other funds of the Society 
have to be met by appropriations from the General Income 
Account, and even the Pension Fund is maintained only by the 
contribution from the Income Account of $3,665 annually. 
This fund is now, and always has been, the weakest of all 
the Society’s accounts, because upon it falls the burden of 
emergencies. Its pitifully small size cripples the activities of 
the Society in its office force, and especially in the matter of 
campaigning for new members. The Society needs at least 
$2,000,000 in its General Endowment Fund, independently of 
the Sage Endowment Fund, in order that it may have an income 
sufficient to maintain its regular work. Even this amount would 
leave only a narrow margin for the support of outside enterprises 
or for the expansion of its scientific work, either in original re- 
search work or in publications. 
The Executive Committee cannot urge too strongly upon 
the members the importance of increasing the Endowment Fund 
of the Society. It has been a disappointment to the Committee 
to find the Society so often overlooked in the bequests of decedents 
who have been more than generous in their contributions to sim- 
ilar institutions, which have been longer in the field and conse- 
quently have accumulated far larger funds. 
ANIMAL FUND. 
The amount to the credit of the Animal Fund at the end 
of the year was $38,235.73. During the year, the Society donated 
to the London Zoological Gardens a collection of birds and mam- 
mals to help in the re-establishment of that institution, amounting 
to 234 birds, representing 103 species, and 9 mammals. 
CADWALADER ANIMAL FUND. 
The balance on hand in this fund was $1,696.58. During 
the year $1,248.95 were appropriated from this fund for the ex- 
pense of shipping the gifts of the Society to London. 
STOKES BIRD FUND. 
The use of this fund*is limited to the protection of bird life, 
and the only expenditures made from it during the year was a 
