TWENTY-FOURTH ANNUAL REPORT 49 



Until we have an Endowment Fund of several millions of 

 dollars, we shall be compelled to pass or neglect scientific oppor- 

 tunities that would yield great results. 



Even with the income when received from the Sage bequest, 

 princely as that gift was, the Society will be little more than able 

 to pay its way on the present basis, without embarking upon any 

 new undertaking. 



ART GALLERY FUND. 



The following new picture was purchased during the year : 



Rocky Mountain Goat, by Carl Rungius. 



Mr. Rungius is now engaged in the preparation of a picture 

 of the American Wapiti. 



There is now on hand a balance of $7,221.68 in this fund. 



TROPICAL RESEARCH FUND. 



The Tropical Research Station at Georgetown, British Gui- 

 ana, was reopened and a description of the season's work appears 

 elsewhere in this report. 



The scientific results for the year were exceptionally bril- 

 liant, and the station will be reopened in the spring of 1920, and 

 Mr. Beebe will sail for British Guiana in April. 



Subscriptions to the Tropical Research Fund for 1920 are 

 as follows : 



Anthony R. Kuser $1,000.00 



George J. Gould 1,000.00 



Mortimer L. Schiff 1,000.00 



E. C. Converse 1,000.00 



A. Barton Hepburn 1,000.00 



Edward S. Harkness 1,000.00 



Cleveland H. Dodge 500.00 



C. Ledyard Blair 500.00 



Total $7,000.00 



Mr. Beebe is now engaged in the final revision of the text 

 of the last three volumes of "A Monograph of the Pheasants." 



