THIRTY-EIGHTH ANNUAL REPORT. 



To the Trustees and Members of The American Museum of Natural 

 History : 



The President submits herewith a report of the affairs of the 

 Museum for the year 1906. 



Finances. — As described in an earlier number of the 

 Report, the financial transactions of the Museum have been 

 carried in three separate accounts, designated as the City 

 Maintenance Account, the General Account and the Endow- 

 ment and Investment Account. The details of the receipts 

 and disbursements, thus classified, will be found in the Treas- 

 urer's Report, pages 35 to 41 inclusive. All books and 

 vouchers of these accounts have been duly examined and certi- 

 fied by the Audit Company of New York. A few statements 

 may help in making the details of this report clear. 



Perma?ient Endowment. — The interest on the Permanent 

 Endowment, $47,880, constitutes the principal source of in- 

 come of the General Account. The urgency for a substantial 

 increase in the Permanent Endowment is evident when it is 

 remembered that appropriations from the City cannot be used 

 for the purchase of specimens, for carrying on field work or 

 for publications. 



City Maintenance Account.— The Museum has received from 

 the City for maintenance $170,000, an increase of $10,000 

 over the appropriations for maintenance of the last four years. 

 Although the City has thus generously increased its contribu- 

 tion, the sum has been insufficient to meet the increased cost 

 of maintenance entailed by the opening of new exhibition halls 

 and storage rooms and the care of collections recently re- 

 ceived. A deficit of $2,924.04 in the running expenses has 

 been met by the Trustees. 



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