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Smithsonian Institution  575
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MADE BY BAKER-VAWTER CO.
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Conditions affecting the income from the Curator Fund have materially changed during the past year. The dividends on the Parke, Davis & Company stock have increased from 5 to 8 p.c., and a stock dividend of 100 p.c. was declared in December, 1922.

At the present rate of $4 per share the income of the Curator Fund is $13,936.00, and if any dividend is paid on the increased stock, it will be still larger.

The Secretary recommended that authority be granted for the payment of a definite salary to the Curator of the Freer Gallery of Art, of not to exceed $10,000.00 per annum, and that any surplus income from the Curator Fund by employed by the Curator, with the approval of the Secretary, for the employment of such assistants as he may need in his curatorial duties to enable him in the fullest sense to give "Faithful oversight, intelligent exhibition and careful protection" to the collections.

After a very general discussion, the Chief Justice submitted the following resolution, which was adopted:-

RESOLVED; That the matter of the salary of the Curator of the Freer Gallery of Art, as well as the salaries of his assistants, be referred to the Permanent Committee, with power to act.

[[underlined]]Release of Executors.[[/underlined]] The Secretary added that the Freer estate had been closed and the Executors released by the Probate Court.

INCREASE IN MEMBERSHIP OF BOARD OF REGENTS.

The Secretary stated that at the December, 1922, meeting, the following draft of proposed legislation for increasing the membership of the Board of Regents had been brought to the Board's attention:

[[underlined]]Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled:[[/underlined]]

1. That the Board of Regents of the Smithsonian Institution is authorized to elect, by a two-thirds vote of the membership of the Board at the time of such election, six members of said Board additional to the membership provided in Sections 5580 and 5581 R.S., to serve for a period of six years,
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