﻿8 
  ANNUAL 
  REPORT 
  SMITHSONIAN 
  INSTITUTION, 
  19 
  2 
  9 
  

  

  It 
  was 
  felt 
  that 
  the 
  immediate 
  application 
  of 
  a 
  quarter 
  of 
  these 
  funds 
  

   to 
  research 
  would 
  better 
  promote 
  progress 
  and 
  attract 
  greater 
  inter- 
  

   est 
  among 
  friends 
  of 
  the 
  Institution 
  than 
  would 
  the 
  assignment 
  of 
  

   ihe 
  entire 
  proceeds 
  of 
  royalties 
  to 
  the 
  permanent 
  endowment 
  of 
  the 
  

   Institution. 
  

  

  Tables 
  have 
  been 
  prepared 
  showing 
  the 
  condition 
  and 
  objects 
  of 
  

   the 
  many 
  special 
  funds 
  and 
  showing 
  the 
  increases 
  in 
  general 
  and 
  

   special 
  endowment 
  from 
  time 
  to 
  time 
  during 
  the 
  history 
  of 
  the 
  

   Smithsonian. 
  Certain 
  funds 
  of 
  fairly 
  general 
  application 
  had 
  been 
  

   allowed 
  to 
  accumulate 
  for 
  a 
  good 
  many 
  years. 
  The 
  chief 
  of 
  the 
  

   Bureau 
  of 
  Ethnology 
  having 
  reported 
  the 
  critical 
  emergenc}^ 
  to 
  eth- 
  

   nology 
  which 
  inheres 
  in 
  the 
  imminent 
  decease 
  of 
  the 
  last 
  surviving 
  

   members 
  of 
  certain 
  Indian 
  tribes, 
  the 
  secretary 
  directed 
  that 
  of 
  the 
  

   annual 
  income 
  of 
  the 
  said 
  funds, 
  an 
  amount 
  totaling 
  about 
  $3,500 
  

   should 
  be 
  devoted 
  for 
  several 
  years 
  to 
  collecting 
  this 
  vanishing 
  

   knowledge. 
  

  

  In 
  accord 
  with 
  the 
  recommendations 
  of 
  the 
  Institution's 
  financial 
  

   advisers, 
  Messrs. 
  Scudder, 
  Stevens, 
  and 
  Clark, 
  of 
  New 
  York, 
  and 
  

   with 
  the 
  approval 
  of 
  the 
  permanent 
  committee 
  of 
  the 
  Board 
  of 
  

   Kegents, 
  a 
  considerable 
  part 
  of 
  the 
  endowment 
  has 
  been 
  held 
  for 
  

   several 
  years 
  in 
  the 
  stocks 
  of 
  widely 
  diversified 
  and 
  well-established 
  

   companies 
  and 
  in 
  short-term 
  bonds. 
  In 
  this 
  way 
  the 
  Institution 
  has 
  

   been 
  able 
  to 
  share 
  in 
  the 
  prosperity 
  of 
  our 
  country 
  and 
  has 
  enjoyed 
  

   a 
  considerable 
  appreciation 
  of 
  its 
  funds. 
  

  

  Especial 
  mention 
  is 
  due 
  the 
  cooperation 
  of 
  the 
  Research 
  Corpora- 
  

   tion 
  of 
  New 
  York, 
  whose 
  grants 
  of 
  funds 
  have 
  helped 
  greatly 
  to 
  

   establish 
  the 
  new 
  Division 
  of 
  Radiation 
  and 
  Organisms. 
  

  

  GIFT 
  OF 
  ART 
  COLLECTION 
  OF 
  JOHN 
  GELLATLY 
  

  

  The 
  most 
  important 
  art 
  collection 
  to 
  be 
  received 
  by 
  the 
  Institution 
  

   since 
  the 
  Freer 
  gift 
  came 
  during 
  the 
  year 
  from 
  Mr. 
  John 
  Gel]atly, 
  

   of 
  New 
  York 
  City. 
  The 
  collection, 
  valued 
  at 
  several 
  million 
  dollars, 
  

   comprises 
  more 
  than 
  100 
  works 
  of 
  American 
  art, 
  some 
  choice 
  Euro- 
  

   pean 
  paintings, 
  and 
  large 
  collections 
  of 
  glass, 
  jewels, 
  tapestries, 
  

   oriental 
  specimens, 
  and 
  other 
  valuable 
  material, 
  all 
  provided 
  with 
  

   beautiful 
  cases. 
  Mr. 
  Gellatly's 
  offer 
  was 
  considered 
  by 
  the 
  National 
  

   Gallery 
  of 
  Art 
  Commission 
  and 
  its 
  acceptance 
  highly 
  recommended 
  

   to 
  the 
  Smithsonian 
  Regents. 
  The 
  Regents 
  acted 
  favorably 
  upon 
  the 
  

   recommendation, 
  and 
  subsequently 
  Congress 
  passed 
  the 
  following 
  

   joint 
  resolution, 
  approved 
  by 
  the 
  President 
  on 
  June 
  6, 
  1929: 
  

  

  Whei-eas 
  Mr. 
  John 
  Gellatly 
  has 
  offered 
  to 
  the 
  Nation 
  his 
  art 
  collection 
  for 
  

   eventual 
  permanent 
  exhibition 
  in 
  the 
  National 
  Gallery 
  of 
  Art 
  under 
  the 
  adminis- 
  

   tration 
  of 
  the 
  Smithsonian 
  Institution 
  ; 
  and 
  

  

  