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SMITHSONIAN INSTITUTION   1321

Decisions made by the firm to their recommendations with regard to long range policy considering the Consolidated and Freer Funds. Numerous questions came from the Board members for clarification on items given in a table furnished by Mr. Richardson showing the present position of Smithsonian securities.

Mr. Richardson further discussed various possibilities in the trends indicated in the present financial picture and their effect on future policy.

Following expressions of approval as to the handling of the Institution’s investments Mr. Richardson withdrew from the meeting.

Upon request made by Mr. Vorys and Dr. Compton, the Secretary was instructed to prepare for future meetings as itemized statement showing the entire annual income of the Institution, including federal appropriations, income available from private funds, and income from miscellaneous sources, so to furnish to the Board a complete picture.

RESOLUTION RELATIVE TO INCOME AND EXPENDITURE

Mr. Fleming, Chairman of the Executive Committee, submitted the following resolution, which, on motion, was adopted:

RESOLVED: That the income of the Institution for the fiscal year ending June 30, 1952, be appropriated for teh service of the Institution, to be expended by the Secretary, with the advice of the Executive Committee, with full discretion on the part of the Secretary as to items.
 
SMITHSONIAN SCIENTIFIC SERIES

This relates to a series of twelve volumes prepared by scholars of the Institution, and sold commercially under contract by a firm with the present name of the Series Publishers, Inc. The work is produced in several formats that differ in binding and 

A.W.

Transcription Notes:
.Initials AW appear at the bottom left of the page (not transcribed).