1 6 Report of the President 



largest single gift which has ever been made to the cause of 

 scientific education in the City of New York and will be a 

 source of immeasurable benefit to the people for all time. The 

 wise restriction which surrounded Mr. Jesup's original bequest 

 of $1,000,000 also obtains in this, that no part of the interest 

 shall be used for maintenance or for building, but that the 

 entire income shall be devoted to the development of the 

 scientific and educational work of the institution, while the 

 responsibility for the maintenance and construction of the 

 Museum shall continue to rest upon the people of the City of 

 New York according to the original purpose of its foundation. 



ENDOWMENT AND BEQUESTS 



The terms of the bequest of the Jesup Endowment Fund 

 and of the codicil to the will are as follows: 



"To the American Museum of Natural History of 

 the City of New York [I give and bequeath] Four 

 million dollars ($4,000,000) as a permanent fund to 

 be known as the 'Morris K. Jesup Fund,' the income, 

 and only the income, to be used in the purchase of 

 specimens and collections and the expenses incident 

 to and incurred in assisting scientific research and 

 investigation and publication regarding the same 

 which the Trustees of the Museum shall regard as 

 in its interest; 



As I have in the Eighth Article in my said Will 

 given and bequeathed to the American Museum of 

 Natural History the sum of Four million dollars 

 ($4,000,000), I hereby give and bequeath unto said 

 Institution the further sum of One million dollars 

 ($1,000,000) making the total of such bequests Five 

 million dollars ($5,000,000), to be received and held, 

 however, in the manner and subject to each and 

 every provision and stipulation in the said Eighth 

 Article of my said Will set forth and contained con- 

 cerning said primary bequest." 



Some time will elapse before the Museum will receive the 

 benefit of the Jesup Endowment and of other new funds, nor 

 can these benefits be realized in full measure without the 



