Report of the President 91 



$226,863.04, a sum larger than last year by $27,744.96. The 

 principal items of income are as follows: 



Interest on General Endowment Fund $58,938 01 



Interest on Morris K. Jesup Fund 50,997 94 



Annual and Sustaining Members . 26,535 00 



Personal Contributions of Trustees 64,000 00 



Owing to the fact that most of the obligations contracted 

 in the General Account have to be paid before the regular 

 income is received, it has been necessary to borrow money 

 from the bank to carry on the business of this account. For 

 this purpose the Trustees have given three notes, aggregating 

 $60,000, to the United States Trust Company of New York, 

 as security for the loans that have been necessary to carry on 

 the business of the Museum. Therefore, of the $64,704. 99, 

 shown as a cash balance in the Treasurer's statement of the 

 General Account, $60,000 is required to meet these notes. 

 The net cash balance in this account, after providing for all 

 the obligations of 1913, is $1,850.95. 



Money contributed for a specified purpose is deposited in 

 the Special Funds Account. It usually receives a name of its 

 Trustees' own ' anc * cannot De usec * f° r anv other pur- 



Soecial Funds P ose ' exce P t with tne contributor's consent. 

 Account Contrasted with the income of the General 



Account, the income of this account is vari- 

 able and uncertain, since it is dependent on the interest of 

 friends in special objects or collections. These contributions 

 in 1913 have amounted to $16,006.43. 



The Permanent Endowment has been increased by two 



bequests during the year, namely, $1,000 from the Estate of 



_, , _ Edward S. Russ, and $10,000 from 



Trustees Permanent _ , ' :._ 



„ , . the Estate of Henry Iden, a Life 



Endowment Account „ T ., , 



Member. Life membership fees 



have added $4,300 to this fund, and the profit in the exchange 

 of certain bonds netted an additional sum of $7,910. 



Of interest is the following statement of the total contribu- 

 tions to income for the past twelve years. This statement 

 shows especially the steady growth of gifts and support 

 coming to the Museum: 



