560 
PHILOSOPHICAL SOCIETY OF WASHINGTON. 
The precise income for the year 1890 was $988.88, and the ex¬ 
penditures for the same period $784.88, leaving a balance in favor 
of the Society upon the-, year’s transactions of $204.00. 
The Society possessed a Government bond, No. 41,719, for 
$1,000.00, hearing interest at 4i per cent., which was sold in De¬ 
cember under the offer of the Secretary of the Treasury to pur¬ 
chase these bonds at face value with a year’s interest in advance. 
It is difficult to find a satisfactory investment for a small sum 
of money, hut the amount in question was used for the purchase 
of ten Cosmos Club second-mortgage bonds, which fortunately 
happened to be for sale to close an estate. The Society already 
owned 12 of these bonds, purchased from surplus funds. Upon 
February 1, 1891, these bonds will become first-mortgage bonds, 
and as the total amount of the loan is $20,000, secured by mort¬ 
gage upon property valued at four times that sum, the security 
cannot be excelled. 
The assets of the Society consist of— 
1 Government bond, at 4 per cent., No. 64,596...... $500 00 
1 Government bond, at 4 per cent., No. 135,639. 1,000 00 
22 bonds of the Cosmos Club, at 5 per cent., Nos. 
16-21, 119-132, 135 and 136. 2,200 00 
Cash with Riggs & Co. 1,133 40 
Unpaid dues. 245 00 
Total. $5,078 40 
Robert Fletcher, 
Treasurer. 
Washington, D. C., December 20, 1890. 
