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SMITHSONIAN INSTITUTION 477 
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MADE BY BAKER-VAWTER CO. 
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In reply to an inquiry the Secretary stated that the residual bequest Of Mr. Freer consisted of 16,773 shares of Parke, Davis and Company stock, estimated at present to be worth $1,677.000.

He explained also that the State of Michigan had exacted the payment of Four hundred thousand dollars as an inheritance tax on the estate, but that efforts were being made to have this remitted. If this is not done, it will be necessary to sell a portion of the 16,773 shares of the stock mentioned above.

On motion, the report of the Permanent Committee was accepted. 

ANNUAL REPORT OF THE SECRETARY.

The Secretary submitted his annual report for the fiscal year ending June 30, 1920, stating that since the last annual meeting of the Regents there has been published by the Smithsonian Institution and its branches a total of 125 publications, in editions varying from 250 to 10,000 copies. These publications were divided as follows:

[[underlined]] Smithsonian Institution [[/underlined]] :- 14 papers in the Smithsonian Miscellaneous Collections, 2 Annual Reports, pamphlet copies of 35 articles from these Reports, and 1 special publication.
 
[[underlined]] National Museum [[/underlined]] :- 2 Annual Reports, 2 volumes of the Proceedings, 48 separate papers of the Proceedings, 6 Bulletins, 3 parts of Bulletins, and 6 parts of Contributions from the National Herbarium.

[[underlined]] Bureau of American Ethnology [[/underlined]] :- 3 Bulletins, and 3 separates from the 33rd Annual Report.

The Secretary mentioned, as being of special interest among the publications of the Institution proper, a Seventh Revised Edition of the Smithsonian Physical Tables, a reference work in great demand throughout the country; a paper by Prof. R. H. Goddard entitled "A Method of Reaching Extreme Altitudes," in which are described Prof. Goddard's experiments under 
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