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SMITHSONIAN INSTITUTION 551 
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MADE BY BAKER-VAWTER CO. 
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[[underlined]] Walcott Fund [[/underlined]] - The income of this Fund, established by Charles D. and Mary Vaux Walcott, is to be used for research and publication, and as time goes on for such purposes as may be designated by the Board of Regents. The present market value of the securities deposited amounts to $10,460.00.

[[underlined]] Addison T. Reid Bequest [[/underlined]] - This bequest, which is to found a chair in biology as a memorial to the testator's grandfather, Asher Tunis, now amounts to $15,079. The bequest was subject to the condition that the income was to be paid in three shares to certain named beneficiaries until their death. Two of these shares have been received and the remaining share will represent approximately $5,000.

[[underlined]] Miscellaneous Bequests [[/underlined]] - A number of small bequests, aggregating several thousand dollars, have been included in the consolidated fund.

[[underlined]] Residual Bequests [[/underlined]] - No change has occurred in the status of the following estates, of which the Institution will become the residuary legatee, subject to the death of certain specified beneficiaries:

The Joseph White Sprague Bequest;
The Lucy Hunter Baird Bequest;
The Riter Fitzgerald Bequest;
The Caroline Henry Bequest.

[[underlined]] Consolidated Fund [[/underlined]] - Since the completion of the fund of $1,000,000, deposited in the United States Treasury, miscellaneous securities, purchased or received as gifts, constitute the Consolidated Fund. These items embrace the following securities which at present represent a book value of $179,390.28:

West Shore Railroad guaranteed 4 per cent first mortgage bonds, due in 2361.

Cleveland Electric Illuminating Company, first mortgage 5 per cent gold bonds, due in 1939.

Atchison, Topeka, and Santa Fe Railway Company, 4 per cent general mortgage bonds, due in 1995.

Chesapeake and Ohio Railroad Company, first consolidated 5 per cent mortgage bonds, due in 1939.

Baltimore and Ohio Railroad Company, 5 per cent refunding general mortgage bonds, due in 1995.

Province of Ontario 5 per cent bonds, due in 1952.

Northern Pacific Railway Company, refunding and improvements 6 per cent bonds, due in 2047.

P. Lorillard Company, 7 per cent gold bonds, due in 1944.
[[initialed]] CDW [[/initialed]]