Maintenance of the Museum 109 



There were added to the General Endowment Fund, by gift 

 from Mr. Frank W. Kitching, 121 shares of Anaconda Copper 

 Mining Company stock, which had a market value of $10,043 

 at the time of its acquisition. The receipts were further sup- 

 plemented by membership dues of Patron, Fellow and Life 

 Members to the amount of $7,000. 



Following the patriotic duty of citizens and organizations 

 having funds available for investment, the Finance Committee 

 subscribed for $20,000 United States of America 10-25-year 

 4% Convertible Gold Bonds. 



The appropriation for salaries and expenses for 191 7 was 

 $200,000, as compared with $197,342 for 1916; and the appro- 

 priation for special repairs to the building was 



City Maintenance $12,700, whereas the amount for 1016 was 

 Account ^ ' „. „. . . 



$15,657. Since the City s appropriation was 



practically the same for 191 7 as for 1916, and because of the 

 constantly increasing cost of supplies and the much needed 

 increases of salaries to all classes of employees, the Trustees 

 were obliged to make a much larger subscription for main- 

 tenance purposes than ever before. In 19 17 this deficiency 

 amounted to $92,300. 



The Treasurer's books show a balance on hand December 

 31, 1917, of $163,511.82. 



This balance is made up as follows : 

 Trustees' General 



Account Proceeds of five notes of the United States Trust 



Company of New York $150,000.00 

 Sum reserved to meet pledges and 



obligations of 1917 $4,086.18 



Unexpended Income of 1917 9,425.64 



13,511.82 



$163,511.82 



As the greater portion of the income of invested funds is 

 received on June 30 and December 31, and the principal expen- 

 ditures are made prior to these dates, it has been necessary to 

 increase the bank loan of the United States Trust Company of 

 New York from $75,000 to $150,000, The Museum is not 

 obligated to pay interest on this sum, except on the amounts 

 necessary to meet the daily overdrafts. 



