JOUPtNAL OP PEOCEEDINGS. J 51 



genius is admired and science is clierislied. He has left beliind Mm as 

 a legacy to mankind a name and a fame which will abide as an everlast- 

 ing possession. 



The Secretary stated that prior to February 22, ]867, the money re- 

 ceived from the United States, as semi-annual interest on the bequest 

 of Smithsou, was deposited with the bankers Corcoran & Eiggs, and 

 subsequently with Eiggs & Co., but on that date the regents had adopted 

 a resolution directing that all money received by the Institution " be 

 deposited in a national bank, which is also an authorized Government 

 depository,'' (Eeport for 1866, page 78.) In accordance with this instruc- 

 tion and the direction of the chancellor, Chief Justice Chase, the 

 income was deposited in the First N^ational Bank of Washington. 

 Unfortunately, on the 19th of September, 1873, that bank suspended 

 payment, having $8,224.87 to the credit of the Institution. Since that 

 time, however, a dividend of 30 per cent. ($2,467.46) has been received 

 on this balance, leaving $5,757.41 still due the Institution. 



On motion of General Garfield, it was 



Besolved, That the Secretary of the Institution make arrangements, if 

 possible, with the Secretary of the Treasury to deposit the income here- 

 after received in the United States Treasury, to be drawn out on checks 

 signed by Professor Henry; and that if this course could not be adopted, 

 that Congress be requested to pass a law to this effect. 



The board then adjourned sme die. 



Washington, January, 21, 1874. 



In accordance with a resolution of the Board of Eegents of the Smith- 

 sonian Institution, fixing the time of the beginning of their annual 

 meeting on the third Wednesday in January of each year, the board 

 met to-day at 7 o'clock p. m. Present : Mr. Associate Justice Clif- 

 ford, chancellor, Hon. H. Hamlin, Hon. J. W. Stevenson, Hon. A. A. 

 Sargent, Hon. S. S. Cox, Eev. Dr. Maclean, Hon. Peter Parker, Gen- 

 eral Sherman, Governor Shepherd, Prof. H. Coppee, and Professor 

 Henry, Secretary. 



The minutes of the last meeting were read and approved. 



The Secretary announced the following appointments as regents : 

 By joint resolution of Congress (approved January 19, 1874) Prof. Asa 

 Gray, of Harvard College, Cambridge, Massachusetts, vice Prof. L. 

 Agassiz, deceased ; Prof. J. D. Dana, of Yale College, New Haven, 

 Conn., vice Professor Woolsej', declined re-election ; Prof. Henry 

 Copp6e, of Lehigh University, Bethlehem, Pa., vice William B. Astor, 

 declined re-election 5 Eev. Dr. John Maclean, of Princeton, K. J., and 

 Hon. Peter Parker, of Washington, D. C, re-elected for the term of sis 

 years. 



