6 ANNUAL REPORT SMITHSONIAN INSTITUTION, 1912. 



In addition to the above there are four pieces of real estate 

 bequeathed to the Institution by the late R. S. Avery, some of which 

 yield a nominal rental, and all are free from taxation. 



That part of the fund deposited in the Treasury of the United 

 States bears interest at 6 per cent per annum, under the provisions 

 of the act organizing the Institution and an act of Congress approved 

 March 12. 1894. The rate of interest on the West Shore Railroad 

 bonds is 4 per cent per annum. 



The income of the Institution during the year, amounting to 

 $107,168.31, was derived as follows: Interest on the permanent foun- 

 dation, $58,375.12; contributions from various sources for specific 

 purposes, $21,150 ; and from other miscellaneous sources, $27,043.19 ; 

 all of which was deposited in the Treasury of the United States to the 

 credit of the current account of the Institution. 



With the balance of $32,425.66 on July 1, 1911, the total resources 

 for the fiscal year amounted to $139,593.97. The disbursements, 

 which are given in detail in the annual report of the executive com- 

 mittee, amounted to $106,533.88, leaving a balance of $33,060.09 on 

 deposit June 30, 1912, in the United States Treasury. 



The Institution was charged by Congress with the disbursement of 

 the following appropriations for the year ending June 30, 1912: 



International Exchanges $32, 000 



American Ethnology 42, 000 



Astrophysical Observatory 18, 000 



National Museum : 



Furniture and fixtures 175,000 



Heating and lighting 50,000 



Preservation of collections 300,000 



Books 2,000 



Postage 500 



Building repairs 15, 000 



National Zoological Park 100, 000 



International Catalogue of Scientific Literature 7,500 



Total 742,000 



EXPLORATIONS AND RESEARCHES. 



Scientific explorations and researches have been carried on during 

 the past year at the expense of the Institution as far as its limited 

 income and the generosity of its friends would permit. The Na- 

 tional Museum has participated in some of these enterprises b}^ fur- 

 nishing equipment or supplies or by detailing members of its staff 

 to conduct investigations or to make collections that are subsequently 

 transferred to the Museum. Other researches made through the 

 Astrophysical Observatory and the Bureau of American Ethnology 

 are referred to elsewhere in this report. The resources of the Insti- 

 tution not being sufficient to enable it to plan extensive investiga- 



