50 NEW YORK ZOOLOGICAL SOCIETY 



subscription of $500 to the French National League for the Pro- 

 tection of Birds. It is well known that the protection of birds 

 in the south of Europe is most unsatisfactory, and the bird pro- 

 tectors of France are making vigorous efforts to establish their 

 work on a thoroughly efficient basis. 



ENDOWMENT FUND. 



The General Endowment Fund of the Society increased dur- 

 ing the year and is $402,082.21, inclusive of securities and cash 

 uninvested. It was enlarged during the year by the addition of 

 15 Life Members and subscriptions as follows: 



Mrs. Wm. B. Osgood Field $250.00 



Mrs. Finley J. Shepard 100.00 



Miss Emily Buch 5.00 



Estate of John Leyden 194.75 



Total $549.75 



Your Committee is constantly embarrassed by the meager- 

 ness of its General Endowment Fund. The opportunities for 

 the Society's usefulness in the field for the conservation of wild 

 life is expanding and the demand on the Society for scientific 

 research work and publication is urgent. 



No similar organization accomplishes so much with such 

 inadequate means and with such a small overhead charge. 



The income from the Sage Estate came just in time to tide 

 us over the crisis occasioned by the war, but even with that, the 

 need of a large endowment is still the most pressing problem 

 your Committee has to face. 



ART GALLERY FUND. 



A large painting of an American wapiti, by Carl Rungius, 

 was added to the collection during the year, and a painting of 

 American flamingoes ordered of Louis Agassiz Fuertes is nearing 

 completion. 



There is a balance on hand in this fund of $5,082.91. The 

 Committee intend to make every effort to complete the gallery 

 of North American animals in time to have the pictures ready 



