Report of the President 89 



IV. FINANCES, MAINTENANCE, ENDOWMENT 



Charles Lanier, Treasurer 



No important changes have been made in the method of 

 conducting the finances of the Museum. The United States 

 Trust Company of New York has continued to be the depos- 

 itory of all moneys received by the Museum, excepting the 

 funds and securities of the Permanent Endowment, which 

 continue in the custody of J. P. Morgan & Co. 



At the Museum the affairs of the Treasurer's Office have 

 been in charge of the Bursar, Frederick H. Smyth, whose 

 efficiency is worthy of special mention. 



So great has been the growth of the Museum in recent 

 years, and so varied are its activities, that it has been found 

 necessary to establish several new accounts to properly record 

 the financial transactions. The major financial business has 

 been recorded in the usual four accounts, namely, the City 

 Maintenance Account, the General Account, the Special Funds 

 Account and the Endowment and Investment Account. In 

 addition to these it has been necessary to maintain a Building 

 Account, in which are handled all corporate stock moneys 

 received from the City for building and equipment, and the 

 Incidental Account for transactions which are not part of the 

 regular business of the Museum, but in which the Museum 

 acts as agent only. 



The relations of the Museum to the Crocker Land Expedi- 

 tion have made it advisable to keep the funds for this purpose 

 separate, which is done in the Crocker Land Expedition Fund 

 Account. 



The Pension Plan, adopted by the Trustees for the Museum, 

 is a mandatory contributory system. It has entailed a very 

 large amount of clerical work in connection with the regular 

 Museum books, and, since the Bursar of the Museum is ex- 

 officio also the Bursar of the Pension Fund, the duties of his 

 office have been considerably increased. Some idea of the 



