PROCEEDINGS OF THE BOARD OF REGENTS. XIII 
William M. Howard, Dr. James B. Angell, the Hon. John B. Hen- 
derson, Dr. Alexander Graham Bell, the Hon. George Gray, and the 
Acting Secretary, Mr Richard Rathbun. 
The Chancellor stated that he had informed Prof. Henry F. 
Osborn of his unanimous election at the December meeting as Sec- 
retary of the Institution, and had received a reply to the effect that 
though fully appreciating the honor tendered, he had found himself 
unable to accept for reasons set forth at large. 
REAPPOINTMENT OF REGENT. 
The Chancellor announced the reappointment of Judge George 
Gray as a Regent for six years,’ by joint resolution of Congress ap- 
proved by the President on January 21, 1907. 
RESOLUTION RELATIVE TO INCOME AND EXPENDITURE. 
Mr. Henderson, chairman of the executive committee, submitted 
the following resolution, which was adopted : 
Resolved, That the income of the Institution for the fiscal year ending June 
30, 1908, be appropriated for the service of the Institution, to be expended by 
the Secretary with the advice of the executive committee, with full discretion 
on the part of the Secretary as to items. 
ANNUAL REPORT OF THE ACTING SECRETARY. 
The Acting Secretary submitted his report upon the operations 
of the Institution for the year ending June 30, 1906, which was 
accepted. 
ANNUAL REPORT OF THE EXECUTIVE COMMITTEE. 
Mr. Henderson, chairman, presented the report of the executive 
committee for the year ending June 30, 1906, and explained briefly 
the method of auditing the accounts of the Institution and of the 
Government branches under its charge. On motion the report was 
adopted. 
ANNUAL REPORT OF THE PERMANENT COMMITTEE. 
Mr. Henderson, chairman, presented the following report of the 
permanent committee: 
Hodgkins estate.—In addition to the fund of $200,000 donated to 
the Institution by the late Thomas George Hodgkins in 1891, the 
residual estate, embracing $8,000 in cash, certain West Shore Rail- 
road bonds of the value of approximately $42,000, and the sum of 
$8,772.38 invested in United States 4 per cent bonds of 1907, together 
with two small properties in Elizabeth, N. J., later sold by authority 
