112 ANNUAL REPORT SMITHSONIAN INSTITUTION, 1944 
This fund contains endowments for both unrestricted and specific use. 
A statement of principal and income of this fund for the last 10 years 
follows: 
ESR avar nvm 8 pc CNRS YEA YN, ety ET es te 
Per- Per- 
Fiscal year Principal Income cent- Fiscal year Principal Income cent- 
age age 
OGRE Sa eye $706, 765.68 | $26, 808. 86 3270104022 2) ee $1, 081, 249. 25 | $38, 673. 29 47 
AQSG 2th. sae 728, 795. 46 , 836. 61 5 Hr Nn ee a oa 1, 093,301.51 | 41, 167.38 3. 76 
ft ae eee Ad 738, 858. 54 33, 819. 43 4.57 1042. ese 1, 270, 968. 45 46, 701. 98 3. 67 
1PaB? 25: Bee 867, 528.50 | 34, 679. 64 4.00 || 1943_..._.---.--] 1,316, 533.49 | 50, 524, 22 3. 83 
LOGO es) ae 902, 801.27 | 30, 710.53 3:40) [1944 82, Soe ee 1, 372, 516.41 | 50, 783.79 3. 69 
CONSOLIDATED FUND 
Gain in investments over year 1943 
Investments made from gifts and savings on iNCOMC 22 so eae $46, 061. 80 
Investments of gain from sales., etc., of securities______...__.________ 9, 921. 12 
55, 982. 92 
FREER GALLERY OF ART FUND 
Early in 1906, by deed of gift, Charles L. Freer, of Detroit, gave 
to the Institution his collection of Chinese and other Oriental objects 
of art, as well as paintings, etchings, and other works of art by Whist- 
ler, Thayer, Dewing, and other artists. Later he also gave funds for 
the construction of a building to house the collection, and finally in his 
will probated November 6, 1919, he provided stock and securities 
to the estimated value of $1,958,591.42, as an endowment fund for the 
operation of the Gallery. 
The above fund of Mr. Freer was almost entirely represented by 20,- 
465 shares of stock in Parke, Davis & Co. As this stock advanced in 
value, much of it was sold and the proceeds reinvested so that the 
fund now amounts to approximately three times the original value, 
or $5,881,402.17, in a selected list of securities classified later. 
The invested funds of the Freer bequest are under the following 
headings: 
Courtandy2rounds ind 32 eee $658, 864. 68 
Court and grounds maintenance fund_______________ 165, 479. 65 
Curator Livre ee Pee ETE eet SE Eee aera eee eee 670, 500. 62 
Residuaryslecacyes 28 sk ko eee ee 4, 386, 557. 22 
RG Gals ios 0S oe re eR Os 5, 881, 402. 17 
Statement of principal and income for the last 10 years 
Per- Per 
Fiscal year Principal Income cent- Fiscal year Principal Income cent- 
age age 
19852 ee eo $4, 769, 362. 53 | $257, 510. 33 B.39) e940) we $6, 112, 953.46 | $242, 573. 92 3.96 
AL oath a eh 4, 651, 867. 07 259, 420. 73 5. 57 || 1941____-_._-..] 6,030, 586. 91 233, 079. 22 3. 86 
MOS fee sooo 4, 881, 986. 96 280, 969. 53 De Ci Mh O42. sae 5, 912, 878. 64 241, 557. 77 4.08 
LOSRY ee oo 4, 820, 777. 31 255, 651. 61 tig i fb bs Se a Slo 5, 836, 772. 01 216, 125. 07 3. 70 
POU. 2 2acecce 5, 075, 976. 76 212, 751. 78 419 1 Gee eee 5, 881, 402. 17 212, 395. 27 3.61 
