130 ANNUAL. REPORT SMITHSONIAN INSTITUTION, 1923 



RECEIPTS AND EXPENDITURES PERTAINING TO THE CHARLES L. FREER BEQUEST 



Receipts : 



Interest, dividends, and miscellaneous receipts, including in- 

 stallments on Great Lakes engineering works, in liquida- 

 tion $304, 436. 26 



Expenditures : 



Pinal payment of temporary loan to settle Freer estate 173, 640. 99 



Purchase of art objects and other miscellaneous expenditures. 45, 704. 84 



Building fund , 32, 100. 17 



Total expenditures 251, 446. 00 



SUMMARY 



Receipts : 



Ordinary income for general objects, including cash balance 



at beginning of year $67, 484. 16 



Revenue and principal of funds conveyed for specific purposes, 



except the Freer bequest 69,756.48 



Freer bequest 304, 436. 26 



Total 441, 676. 90 



Expenditures : 



General objects of the Institution 64, 13S. S5 



Expenditures for specific purposes, except the Freer bequest— 44, 291. 25 



Advances for field expenses 12, 769. 17 



Freer bequest 251, 446. 00 



Cash deposited on time at 3 per cent 57, 500. 00 



Cash balance June 30, 1923 11, 531. 63 



Total 441, 676. 90 



All payments are made by check, signed by the Secretary of the 

 Institution, on the Treasurer of the United States, and all revenues 

 are deposited to the credit of the same account, except in some 

 instances small deposits are placed in bank for convenience of col- 

 lection and later are withdrawn in round amounts and deposited in 

 the Treasury. 



The practice of investing temporarily idle funds in time deposits 

 has proven satisfactory. During the year the interest derived from 

 this source, together with other similar items, has resulted in a 

 total of $1,732.50. 



