REPORT OF THE EXECUTIVE COMMITTEE 83 



Whistler, Thayer, Dewing, and other artists. Later he also gave 

 funds for the construction of a building to house the collection, and 

 finally, in his will, probated November 6, 1919, he provided stock 

 and securities to the estimated value of $1,958,591.42 as an endow- 

 ment fund for the operation of the gallery. From the above date 

 to the present time these funds have been increased by stock divi- 

 dends, savings of income, etc., to a total of $4,769,362.53. In view 

 of the importance and special nature of the gift and the require- 

 ments of the testator in respect to it, all Freer funds are kept sepa- 

 rate from the other funds of the Institution, and the accounting in 

 respect to them is stated separately. 

 The invested funds of the Freer bequest are classified as follows : 



Court and grounds fund $534,318.17 



Court and grounds maintenance fund 134,352.68 



Curator fund 543, 728.40 



Residuary legacy 3, 556, 963. 28 



4, 769, 362. 53 



SUMMABT 



Invested endowment for general purposes $1,106,803.19 



Invested endowment for specific purposes other than Freer 

 endowment 701, 304. 03 



Total invested endowment other than Freer endowment 1, 808, 107. 22 



Freer invested endowment for specific purposes 4, 769, 362. 53 



Total invested endowment for all purposes 6, 577, 469. 75 



CLASSIFICATION OF INVESTMENTS 



Deposited in the U. S. Treasury at 6 percent per annum as 



authorized in the U. S. Revised Statutes, sec. 5591 $1, 000, OOO. 00 



Investments other than Freer endowment (cost or 

 market value at date acquired) : 



Bonds (18 different groups) $363,887.25 



Stocks (39 different groups) 398,693.67 



Real estate first-mortgage notes 41, 746. 00 



Uninvested capital 3, 780. 30 



808, 107. 22 



Total investments other than Freer endowment 1,808,107.22 



Investments of Freer endowment (cost or market 

 value at date acquired ) : 



Bonds (43 different groups) $2,240,386.62 



Stocks (31 different groups) 2,156,825.38 



Real estate first-mortgage notes 38, 500. 00 



Uninvested capital 333, 650. 53 



4, 769, .362. 53 



Total Investments 6, 577, 469, 75 



36923—36 7 



