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SMITHSONIAN INSTITUTION 1418 FREER FUND Book Value $7,230,968 Market Value 10,470,651 Appreciation $3,239,683 CONSOLIDATED FUND Book Value $2,940,671 Market Value 3,972,511 Appreciation 1,031,840 TOTAL APPRECIATION $4,271,523 ADJOURNMENT On motion, the meeting was adjourned at 4:07 p.m. Respectfully submitted, Leonard Carmichael Leonard Carmichael Secretary
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