50 NEW YORK ZOOLOGICAL SOCIETY 
subscription of $500 to the French National League for the Pro- 
tection of Birds. It is well known that the protection of birds 
in the south of Europe is most unsatisfactory, and the bird pro- 
tectors ot France are making vigorous efforts to establish their 
work on a thoroughly efficient basis. 
ENDOWMENT FUND. 
The General Endowment Fund of the Society increased dur- 
ing the year and is $402,082.21, inclusive of securities and cash 
uninvested. It was enlarged during the year by the addition of 
15 Life Members and subscriptions as follows: 
Mrs. Wm. B. Osgood Field........ $250.00 
Mrs; Minleya J. shepards...2.. 45. 100.00 
Misselimuily Buchis so s%. sess +e 5.00 
Estate of John Leyden............ 194.75 
nO bale Sens: see Pern ae ater $549.75 
Your Committee is constantly embarrassed by the meager- 
ness of its General Endowment Fund. The opportunities for 
the Society’s usefulness in the field for the conservation of wild 
life is expanding and the demand on the Society for scientific 
research work and publication is urgent. 
No similar organization accomplishes so much with such 
inadequate means and with such a small overhead charge. 
The income from the Sage Estate came just in time to tide 
us over the crisis occasioned by the war, but even with that, the 
need of a large endowment is still the most pressing problem 
your Committee has to face. 
ART GALLERY FUND. 
A large painting of an American wapiti, by Carl Rungius, 
was added to the collection during the year, and a painting of 
American flamingoes ordered of Louis Agassiz Fuertes is nearing 
completion. 
There is a balance on hand in this fund of $5,082.91. The 
Committee intend to make every effort*to complete the gallery 
of North American animals in time to have the pictures ready 
