REPORT OF THE EXECUTIVE COMMITTEE OF THE BOARD OF 
REGENTS OF THE SMITHSONIAN INSTITUTION FOR THE 
YEAR ENDED JUNE 30, 1926 
To the Board of Regents of the Smithsonian Institution: 
Your executive committee respectfully submits the following 
report in relation to the funds, receipts, and disbursements of the 
Institution and a statement of the appropriations by Congress for 
the following Government bureaus in the administrative charge of 
the Smithsonian Institution: The National Museum, the Interna- 
tional Exchanges, the Bureau of American Ethnology, the National 
Zoological Park, the Astrophysical Observatory, the International 
Catalogue of Scientific Literature, and the National Gallery of Art; 
also for an additional assistant secretary and for printing and 
binding for the fiscal year ended June 30, 1926. 
SMITHSONIAN INSTITUTION 
Condition of the endowment fund July 1, 1926 
The sum of $1,000,000 deposited in the Treasury of the United 
States under act of Congress is part of a permanent endowment 
fund, which includes the original Smithson fund and additions 
accumulated by the deposit of savings and bequests from time to 
time. Subsequent bequests and gifts and the income therefrom, 
when so required, are invested in approved securities. The several 
specific funds so invested are now constituted and classed as follows: 
Consolidated fund 
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Charles D. and Mary Vaux Walcott research fund_..-_-__________ 11, 520. 00 
137 
