90 Report of the President 



FINANCES, MAINTENANCE, ENDOWMENT 



Charles Lanier, Treasurer 



The method of conducting the finances of the Museum 

 introduced in 191 1 on recommendation of the Special Com- 

 mittee has proved satisfactory, although it involves consider- 

 ably more clerical work than formerly. The United States 

 Trust Company of New York was reappointed Assistant Treas- 

 urer and has been the depository of all moneys received by 

 the Museum, excepting the funds and securities of the Per- 

 manent Endowment, which continue in the custody of J. P. 

 Morgan & Co. 



The affairs of the Treasurer's Office at the Museum have 

 been under the immediate direction of the Bursar, Frederick 

 H. Smyth, who has performed his duties with faithfulness and 

 marked efficiency. 



The principal financial transactions of the Museum have 

 been recorded in the usual four separate accounts, namely: the 

 City Maintenance Account, the General Account, the Special 

 Funds Account and the Endowment and Investment Account. 

 In order, however, to conform to the ruling of the Trustees, 

 that all moneys received by the Museum should be deposited 

 with the Assistant Treasurer, namely, the United States Trust 

 Company of New York, it has been found necessary to open 

 two new accounts: the Building Account, in which are carried 

 all Corporate Stock moneys received from the City, and the 

 Incidental Account, established to care for all moneys not a 

 part of the Museum's income, and in the handling of which 

 the Museum acts merely as agent. 



Finally, there is the Bursar's Account, which is merely a 

 temporary working fund with a capital of $7,500, drawn from 

 the General Account. Since all expenditures in this account 

 generally are immediately reimbursed from some other account, 

 it is not necessary to record the details of the transactions. 



It was found desirable to open a separate account for the 

 receipts and disbursements of the Crocker Land Expedition, 

 and this appears on our books as the Crocker Land Expedition 

 Fund Account. 



