8 . REPORT OF THE SECRETARY. 



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, 109. 00 



Residuary legacy of Sniithsou, 1867 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 Tbomas G. Hodgkins, 1891 200,000.00 



Part of residuary legacy of Tbomas G. Hodgkins, 1894 8,000.00 



Deposit from savings of income, 1903 25,000.00 



Residuary legacy of Tbomas G. Hodgkins 7,918.69 



Total amount of fund in tbe United States Treasury 944,918.69 



Held at the Smithsonian Institution. 



Registered and guaranteed bonds of the West Sbore Railroad Com- 

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



Total permanent fund 986,918.69 



The balance of the residuary legacy of the late Thomas G. Hodg- 

 kins, exclusive of accumulated interest, consisted of United States 

 registered 4 per cent bonds of the par value of $7,850 maturing 

 July 1, 1907. These bonds were sold by order of the Board of Re- 

 gents, and the gross proceeds aggregating $7,918.69 were deposited in 

 the Treasur}^ of the United States to the credit of the permanent 

 fund. 



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 

 $64,444.41, was derived as follows: Interest on the permanent fund, 

 $57,900; proceeds from claims in litigation, $1,292.56; interest of 

 Hodgkins residuary fund, $235.50, and miscellaneous sources, 

 $5,016.35 ; 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 $10,184.13, on July 1, 1906, the total resources 

 for the fiscal year amounted to $74,628.54.. The disbursements, which 

 are given in detail in the annual report of the executive committee, 

 amounted to $49,936.53, leaving a balance of $24,692.01. Of this 



