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SMITHSONIAN INSTITUTION 726 
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MADE BY BAKER-VAWTER CO. 
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series of volumes, so that the completion of the work is now assured. Receipts from sales of the volumes came in through the year 1927 at an average net rate exceeding $1,000 a month"

[[underlined]] "The Freer Bequest. [[/underlined]] The present income of the Freer bequest amounts to approximately $275,000 per annum. The Terms of the will are more or less vague in many particulars, so that a difference of opinion is apt to arise regarding the objects for which this large income may be spent. Many such questions have arisen during the past year in the mind of the Acting Secretary, and he has felt a hesitation to rule in such matters of long continuing policy, considering the unsettled status of the Smithsonian administration, but strongly recommends that the questions at issue be solved by the submission of the Freer will and codicils to competent legal advice. This should be one of the earliest acts of the Secretary to be appointed. We stand at the junction of ways with regard to the Freer Gallery and Bequest, and should decide which of two divergent roads should be taken".

[[underlined]] "Industrial Museum. [[/underlined]] Several years ago, parties representing the great engineering societies approached the Institution with a plan of erecting a great museum for industrial arts, and the Board of Regents passed a favorable resolution. The matter did not progress rapidly, though during the past year Mr. H. F. J. Porter, of New York, has been writing the Institution repeatedly regarding the movement, of which he seems to be the only active remnant.

"The present congestion of the buildings of the National Museum is, however, very deplorable. In the matter of airplanes alone, the very unfortunate state has arisen that the available space is crowded beyond measure with specimens of the greatest historic importance, and as new ones like the 'Spirit of St.Louis' are likely to come to us, they can be accommodated only by the disposal of others hardly less interesting. Furthermore, the recent great exhibition of the Iron Horse has pointed out to us how deplorably lacking the present exhibition in the National Museum is, as relating to the enormous
[[initialed]] CGA [[/initialed]]