REPORT OF THE EXECUTIVE COMMITTEE OF 
THE BOARD OF REGENTS OF THE SMITH- 
SONIAN INSTITUTION 
FOR THE YEAR ENDED JUNE 30, 1948 
To the Board of Regents of the Smithsonian Institution: 
Your executive committee respectfully submits the following report 
in relation to the funds of the Smithsonian Institution, together with a 
statement of the appropriations by Congress for the Government bu- 
reaus in the administrative charge of the Institution. 
SMITHSONIAN ENDOWMENT FUND 
The original bequest of James Smithson was £104,960 8s 6d— $508,- 
318.46. Refunds of money expended in prosecution of the claim, 
freights, insurance, etc., together with payment into the fund of the 
sum of £5,015, which had been withheld during the lifetime of Madame 
de la Batut, brought the fund to the amount of $550,000. 
Since the original bequest, the Institution has received gifts from 
various sources, the income from which may be used for the general 
work of the Institution. These, including the original bequest, plus 
savings, are listed below, together with the income for the present 
year. 
ENDOWMENT FUNDS 
(Income for unrestricted use of the Institution) 
Partly deposited in United States Treasury at 6 percent and partly invested in 
stocks, bonds, ete. 
Income pres- 
Investment ent year 
Parent fund (original Smithson bequest, plus accumulated savings) --------- $728, 879. 14 $43, 710. 60 
Subsequent bequests, gifts, etc., partly deposited in the U. S. Treasury and 
partly invested in the consolidated fund: 
Avery, Robert S., and Lydia, bequest fund_-_-------..----_.------------ 54, 093. 08 2, 529. 83 
Een Go wen bit Gi ae ea aa anes sa ce ne neeee 333, 257. 58 13, 490. 84 
Habel, Drs bequestfund. +82 = F222 6 ee ee ee se 500. 00 30. 00 
Hachenherg, George P. and Caroline, bequest fund__---------_---------- 4, 082. 23 172. 02 
Hamilton y james, bequest fumes ee eee eee eee 2, 909. 75 167. 23 
EVENT Vea CATO LIME DGC UCStihtz il Cee ee ee eee are en oni NEE 1, 227.61 51.73 
ode kins shhomasiGs (general): gifts ee tee ee eee ees 146, 433. 84 8, 242. 69 
mortereaenny Kirke menional funda. ss) === === = eee ee ee 290, 698. 96 12, 252. 25 
Nees eV iamMh Ones DeQuEest LUG ane nn ee ee ee ee 1, 070. 20 55. 62 
pantord George: Ae memoriali{unds ose eee eee ee eee 2, 003. 59 104. 04 
Witherspoon bhomashA memorialittn dary oen eee eee 130, 990. 25 5, 520. 92 
Special fund, stock in reorganized closed banks-_------_-_--.------------- 2, 280. 00 132. 00 
CA im es a he ne See eee 969, 547. 09 42, 749.17 
Grand total cee re ee ee ee ee eae 1, 698, 426. 23 86, 459. 77 
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