REPORT OF THE SECRETARY. " 3 



Deposit of savings from income, Avery fund, 1915 $1, 862. 60 



Deposit of savings from income, Reid fund, 1915 426. 04 



Deposit of balance of principal, $248.05, and income, $28.39, Rhees 



fund, 1915 276. 44 



Deposit of first payment of Lucy T. and George W. Poore fund, 



1915 24, 534. 92 



Deposit of part of principal of Addison T. Reid fund, 1910 4, G98. 59 



Deposit of principal of George H. Sanford fund, 1916 1, 020. 00 



Deposit of savings from income, 1916 2, 681. 41 



Total of fund deposited in tlie United States Treasury 996, 000. 00 



Other resources. 



Registered and guaranteed 4 per cent bonds of the West Shore 

 Railroad Co., part of legacy of Thomas G. Hodgkins (par 

 value) 42, 000. 00 



Coupon 5 per cent bonds of the Brooklyn Rapid Transit Co., due 



July 1, 1918 (cost) 5,040.63 



Coupon 6 per cent bonds of the Argentine Nation, due Dec. 15, 



1917 (cost) 5,093.75 



Total permanent fund 1, 048, 134. 38 



The second installment to the Addison T. Eeid fund, amounting 

 to $4,698.59, and a bequest to be known as the George H. Sanford 

 fund, amounting to $1,020, were added during the year to the per- 

 manent fund deposited in the Treasury of the United States, which, 

 together with incomes of several specific funds amounting to 

 $2,681.41, now aggregates the total sum of $996,000, which bears 

 interest at the rate of 6 per cent per annum. 



The sum of $10,000, being a part of the bequest designated as the 

 Frances Lea Chamberlain fund, the income of which is to be applied 

 to the maintenance of the Isaac Lea collection of gems and mollusks 

 in the National collections, was received by the Institution in 

 October, 1915, and on the advice of the executive committee was in- 

 vested in gold notes maturing on December 15, 1917, and July 1, 

 1918. These investments form a nucelus of what will hereafter be 

 known as the consolidated fund. The income account of each specific 

 fund will be credited with the proportion of income which each in- 

 vested fund bears to the whole fund. 



The income of the Institution during the year, amounting to 

 $107,670.26, was derived as follows: Interest on the permanent 

 foundation, $60,751.23 ; contributions from various sources for specific 

 purposes, $22,954.99 ; first payment of the Frances Lea Chamberlain 

 fund, $10,000; second payment on account of the Addison T. Reid 

 fund, $4,698.59 ; and from other miscellaneous sources, $9,265.45. 



Adding the cash balance of $42,165.86 on July 1, 1915, the total 

 resources for the fiscal year amounted to $149,836.12. The disburse- 

 ments, which are given in detail in the annual report of the executive 



