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SMITHSONIAN INSTITUTION   640
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MADE BY BAKER-VAWTER CO.
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Very sincerely yours,

(Signed)  Franklin D. Roosevelt.

A very full and frank discussion took place, in which all phases of the question were considered at length.  Senator Smoot suggested that the subject should have the fullest consideration by the Executive Committee, with the advice of the Solicitor General of the Department of Justice, and should be brought up at a later meeting for action.  He then submitted the following resolution, which was adopted:

RESOLVED:  That the matter of securing an endowment of One million dollars for the Smithsonian Institution through the plan proposed by Messrs. Tamblyn and Brown, be referred to the Executive Committee of the Board of Regents, with instructions to carefully consider the same and to report thereon, with recommendations, at a Special Meeting of the Board to be held on Monday, January 5, 1925, at half past nine o'clock A. M.

ANNUAL REPORT OF THE EXECUTIVE COMMITTEE.

The Secretary submitted in printed form the Annual Report of the Executive Committee, showing the financial condition of the Institution at the close of the fiscal year ending June 30, 1924; adding that the report had already been supplied the Regents by mail.

On motion the report was accepted.

ANNUAL REPORT OF THE PERMANENT COMMITTEE.

December 11, 1924.

To the Board of Regents
of the Smithsonian Institution.

Gentlemen:

The Permanent Committee has been accustomed, at the Annual Meeting to report in considerable detail upon the various matters coming under its supervision during the preceding year, particularly in regard to the bequests and funds administered by the Institution; but as these matters have been mentioned so fully in the report of the Executive Committee, it is deemed
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