126 ANNUAL REPOET SMITHSONIAN INSTITUTION, 1913. 



APPOINTMENT OF REGENTS. 



The secretary announced the appointment, by joint resolution of 

 Congress, approved by the President, of Dr. Andrew D. Wliite, to 

 serve until June 26, 1918, and of the Hon. Charles W. Fairbanks, to 

 serve until July 3, 1918. 



RESOLUTION RELATIVE TO INCOME AND EXPENDITURE. 



Senator Bacon, chairman of the executive committee, presented 

 the following resolution, which was adopted : 



Resolved, That the income of the Institution for tlie fiscal year ending June 

 30, 1914, be appropriated for the service of the Institution, to be expended by 

 the secretary, with the advice of the executive committee, with full discretion 

 on the part of the secretary as to items. 



ANNUAL REPORT OP EXECUTIVE COMMITTEE. 



Senator Bacon, chairman, submitted the report of the executive 

 committee for the fiscal year ending June 30, 1912. 

 On motion, the report was adopted. 



ANNUAL REPORT OF PERMANENT COMMITTEE. 



The secretary, on behalf of the committee, presented the following 

 report for the fiscal year ending June 30, 1912 : 



Research G orj^oration. — The development of the Kesearch Corpo- 

 ration, which is handling the Cottrell patents offered to the Insti- 

 tution for the benefit of research, has been progressing steadily 

 during the past year. 



The corporation was organized under the laws of the State of 

 New York on February 26, 1912, in essential accordance with the 

 plans explained at the last meeting of the board, on February 8, 1912. 



At present a number of installations are being made for the precipi- 

 tation process that in the near future will bring in a revenue to the 

 corporation. 



The work of the corporation has grown so rapidly that it has been 

 found necessary to increase the technical staff and office accommo- 

 dations in New York. 



It must be understood that in the development of any business of 

 this character several years are required for experimentation and the 

 installation of machinery for getting it on a successful working 

 basis. 



The George W. Poore hequest. — Three independent appraisals have 

 been made of the valuation of the real estate embraced in the Poore 

 bequest, and a recent offer for the purchase of a few of the lots has 

 been recommended for acceptance by the permanent committee. 



