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SMITHSONIAN INSTITUTION  1506

moment than it was at the time of the Annual Meeting.

INTERIM FINANCIAL REPORT OF NONPUBLIC FUNDS BUDGET AND REPORT OF THE SECRETARY

The Secretary read a Comparative Statement as of March 31, 1960 for total Private Funds composed of Unrestricted Funds and Restricted Funds, as compared with the Budget approved for 1960. For the first quarter the excess of receipts of total private funds over disbursements was expected to be $89,220, but actually was $131,782. In the unrestricted funds the budget figure was $48,442, but the actual figure for excess of receipts over expenditures was $77,136. In the restricted funds the budget figure was $40,778, but the actual figure for the excess of receipts over expenditures was $54,646.

The Secretary then presented a brief report. In speaking of the professional staff he stated that its excellence is not maintained without difficulty. He noted as an example that in the preceding weeks one of the curators had been offered a professorship and deanship in one of America's oldest and most distinguished universities. He stated that the Smithsonian Institution was limited by Civil Service as it should be, but that this limitation sometimes presents administrative problems. He felt that the Smithsonian should be pleased by the general high level of the curatorial staff of the Institution. This matter was discussed generally by the Board and it was the consensus that curatorial compensation should be equal to that of professors in a large research university.

The Secretary announced that the number of visitors to the Smithsonian buildings in the month of April had exceeded a million. He believed that this was the first time in the history of the Smithsonian Institution that the visitor count for any one month had been over a million. He pointed out that these figures did not include visitors to the National