4 ANNUAL REPORT SMITHSONIAN INSTITUTION, 1908. 



of appointing officers affecting the metTiod of appointment to posi- 

 tions in the classified service are, by executive order of February 20, 

 1908, required to be forwarded, with a full statement of the reasons 

 therefor, through the Civil Service Commission, to the President. 



The current business of the Institution has been conducted in a 

 prompt and effective manner, and it is gratifying to note that no 

 arrearages in the work of the government branches under its direc- 

 tion were necessary to be reported in the quarterly statements to the 

 President and in the annual statement which, in accordance with 

 law, accompanied the estimates transmitted to Congress. 



FINANCES. 



The permanent fund of the Institution and the sources from which 

 it was derived are as follows: 



Deposited in the Treasury of the United States. 



Bequest of Smithson, 1846 $515,169.00 



Residuary legacy of Smithson, 1S67-__1 — 26, 210. 63 



Deposit from savings of income, 1867 108,620.37 



Bequest of James Hamilton, 1875 $1, 000. 00 



Accumulated interest on Hamilton fund, 1895 1, 000. 00 



2, 000. 00 



Bequest of Simeon Habel, 1880 500.00 



Deposit from proceeds of sale of bonds, 1881 51, 500. 00 



Gift of Thomas G. Hodgkins, 1891 200, 000. 00 



Part of residuary legacy of Thomas G. Hodgkins, 1894 8, 000. 00 



Deposit from savings of income, 1903 25,000.00 



Residuary legacy of Thomas G. Hodgkins 7,918.69 



Total amount of fund in the United States Treasury 944, 918. 69 



Held at the Smithsonian Institution. 



Registered and guaranteed bonds of the West Shore Railroad Com- 

 pany (par value), part of legacy of Thomas G. Hodgkins 42,000.00 



Total permanent fund 986, 918. 69 



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 

 $63,372.96, was derived as follows: Interest on the permanent fund, 

 $58,262.52; proceeds from claims in litigation, $300, and from mis- 

 cellaneous sources, $4,810.44; all of which was deposited in the Treas- 

 ury of the United States to the credit of the current account of the 

 Institution. 



