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Transcribe page 246 of 488
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Download PDF for SIA-SIA_000001_BORMTG_1920-1931_246 (project ID 11810)
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[[preprinted]] SMITHSONIAN INSTITUTION 685 [[/preprinted]] [[preprinted left margin]] MADE BY BAKER-VAWTER CO. [[/preprinted left margin]] the Committee, at its meeting of October 26, last, repealed its action recommending to the Board at the Annual Meeting of December 13,1923, that there be established – "A sinking fund, by which that part of the income in excess of 6 p.c. on the value of the foundation at the time of Mr.Freer's death is to be reinvested in high class securities and real estate mortgages until an amount equal to the original foundation is reached" and decided that as the investment of the proceeds of the sales of the stocks and bonds have amply provided for the protection of the endowment as it existed at the time of the decease of Mr. Freer, it was no longer necessary to invest a portion of the income in a Sinking Fund. [[underlined]]The Frederick A. Canfield Collection[[/underlined]] – The collection of minerals left to the Smithsonian Institution by bequest at the death of Mr. Canfield, in July, includes hundreds of specimens of the greatest value, especially for the study series, since Mr. Canfield was at great pains to secure parts of all types or original specimens from which new minerals were described wherever possible. The collection has been transferred to the National Museum from the Canfield home near Dover, New Jersey, and is now being prepared for incorporation in the Museum series. The request, which is valued at $50,000, carries with it a cash endowment of something over $40,000. The exact amount of the cash legacy will not be ascertained until the inheritance taxes and other expenses of settling the estate have been concluded. [[underlined]]The Washington A. Roebling Collection[[/underlined]] – Since the arrival of the Canfield material, the Institution has received as a gift from Mr. John A. Roebling the collection of minerals gathered by the late Col. Washington A. Roebling,of Trenton, New Jersey. This material has been brought to Washington, and is at present in the National Museum, though the gift has not yet been made public, since the details of its transfer have not at this moment been completed. The collection contains many hundreds of highly valuable specimens. It is valued at $100,000, and it is understood that later an endowment of $150,000 will be made for its maintenance. (When the Canfield and Roebling Collections are finally arranged with the excellent series already in hand, the National Museum will have a series of minerals equal to or perhaps better than any other in the world, it's only rival in this respect being that British Museum, in London) [[underline]]Myer Bequest[[/underline]] - By a decree of the Court settling the Catherine Walden Myer will, the Institution received, besides certain specific bequests, a one-fourth interest in the premises No. 919 17th Street,N.W., subject to the life estate of the testator's brother, Canon Meyer. Canon Meyer died in August last, and his sister, Miss Gertrude Myer, made an offer to the Institution on November 14 of $14,618.00 for its quarter interest. The Committee, after considering all the circumstances of the case, deemed it wise to accept this offer, which was done November 26, the terms of settlement to be approved by the Institution. [[underlined]]Smithsonian Scientific Series[[/underlined]] - Two years ago, your committee was authorized to contract with the De Van Corporation, of New York, to undertake the publication, sales and collections of a series of books to be entitled The Smithsonian Scientific Series, for the double object of diffusing knowledge. [[initialed]] CDW [[/initialed]]
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