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SMITHSONIAN INSTITUTION   1568

VACANCY FOR CITIZEN REGENT

The Secretary stated that various members of the Board had suggested names of possible candidates to fill the vacancy caused by the death of Dr. Arthur H. Compton. These names had been sent to the members of the Board prior to the meeting. In the discussion Dr. Greenewalt emphasized his feeling that it was well to have a balance among the members in respect to background and interests concerned with the Smithsonian Institution. Mr. Cannon asked if geography was of any particular significance. On motion by the Vice President, seconded by Mr. Cannon, and carried it was

VOTED to have the Secretary prepare a draft of a Joint Resolution concerning Mr. William A. M. Burden who was unanimously recommended for election as a Citizen Regent, and that this draft be presented to the Congress for consideration.

Dr. Fleming suggested that it would be wise to ascertain if Mr. Burden would accept. Dr. Greenewalt agreed to call Mr. Burden.

REPORT OF THE EXECUTIVE COMMITTEE

Dr. Fleming stated he had a very brief report which he read aloud. Copies were in the hands of members of the Board. The report is as follows:

The Executive Committee has held no formal meetings since the annual meeting of the Board on January 25, 1962. In the interim, however, the Committee has continued its work in connection with the investments of the Institution. The transactions that have taken place since January 1, 1962 through March 31, 1962 are as follows:

FREER FUND

SALES

65 12/100 shares International Paper Co.
1800 shares Bucyrus Erie Co.
4000 shares Anchor Hocking Glass
1500 shares Texas Gulf Sulphur
1650 shares Continental Insurance
1000 shares Chesapeake and Ohio R.R.

PURCHASES

15/50 shares Radio Corp. of America
1000 92/100 shares Great Atlantic & Pacific Tea Co.
3000 shares Household Finance
$146,000 U.S. Treasury Notes 3 3/4% (8-15-64)

The proceeds from the above sales resulted in a net gain on sale of securities of $34,348.80.

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