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[[preprinted]] SMITHSONIAN INSTITUTION 686 [[/preprinted]] [[preprinted left margin]] MADE BY BAKER-VAWTER CO. [[/preprinted left margin]] and increasing the endowment of the Institution. Under the contract of January 7, 1925, the De Van Corporation undertook to raise for the Institution a capital fund of $250,000 to finance the undertaking. After diligent efforts, seconded by the Institution,they were unsuccessful in effecting this. Cash contributions to the amount of nearly $20,000 were, however, subscribed, and, when the plan failed, the donors agreed to permit their contributions to go direct to the Smithsonian Endowment Fund. The De Van Corporation came back with a counter proposition - that the position of the parties to the contract should be reversed, so that hereafter the Smithsonian Institution should be in the position of a writer receiving a fixed royalty, and the publishing and selling corporation should receive the remaining profits. Under this arrangement the Corporation believes it will be able to sell stock to the amount of $250,000 to support the enterprise. After deliberate consideration, your Committee has framed a new contract embodying these principles which only lacks perfecting in minor details to be acceptable to both parties, and the Smithsonian Scientific Series now seems assured. The long experience of Mr. De Van and his associates with the sale of similar book series makes them enthusiastic as to the success of the enterprise, and they maintain that the royalties of the Institution under the new contract may easily reach $100,000 per annum. [[underlined]] Consolidated Fund [[/underlined]] - The Board is reminded that this Fund consists of bequests, gifts, and interest earnings, in excess of the One million dollars authorized by law to be deposited in the United States Treasury at six per centum interest. On June 30, last, it amounted to $218,186.50. [[underlined]] Increase of Endowment [[/underlined]] - A year ago the Board authorized your Committee to engage the firm of Tamblyn x Brown to conduct a campaign to add Ten million dollars to the Institution's endowment in order that it might return to its former place in research and publication. Business men of this city joined with some of the Regents to contribute the costs for the movement. A necessary campaign of educational publicity has been carried out with good results. A definite program for raising the funds has been evolved, and Mr. Charles Hayden, of the New York firm of Hayden x Stone, who has been invited to assume the leadership will, we hope, consent to accept this important responsibility. The movement is now ready to go forward. It is proposed to invite some forty public-spirited men of means to meet at the Institution on a chosen day in January as the guests of the Establishment and the Board of Regents. The visit will be spent in an inspection of the plant and the possibilities of the Institution, and in learning its needs with a view to intelligently contributing to its endowment. We hope to gain the consent of the President to address a luncheon at the Institution on the date chosen. With the President's lead in supporting this program, desirable results are sure to ensue. Your Committee, therefore, wishes to submit the following resolutions:- WHEREAS;the Board of Regents, convinced of the urgent need, authorized a year ago an effort to raise additional endowment to the amount of $10,000,000; WHEREAS; a campaign of publicity has been diligently carried on since; RESOLVED; That the time is now ripe to crystallize the movement by a conference to be held at as early a date as practicable at the Smithsonian Institution; and RESOLVED; That, in view of the importance of the movement, the Board invite [[initialed]] CDW [[/initialed]]
