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SMITHSONIAN INSTITUTION   1571

of $3,536,965. By the sale of the 3,503 shares noted above and the reinvestment of the proceeds in higher income producing securities the income of the Smithsonian was increased by approximately $35,000 per year.

The other matter discussed by Dr. Fleming was the enlarging of the Executive Committee and its duties. He stated that there have been times when it was difficult to get a quorum. He had asked the Secretary about the legal position on enlarging the Committee, and was informed that the Basic Law states that the Executive Committee would be composed of three members. He concluded that it would take an Act of Congress to enlarge it. Dr. Fleming said he had been Chairman since 1947, and had tried to supervise the portfolio and had checked with investment counsel. Sometimes he had agreed and sometimes he had not agreed. He had conferred with the Secretary whenever necessary, and if problems of high level occurred the Chancellor had been consulted. He further said that if the Board wished to lay down duties that would be perfectly all right so long as these duties concerned policy matters and not administrative matters as the latter lay with the Secretary and his staff.

There was no discussion, and on motion by Senator Saltonstall, seconded by Dr. Greenewalt, and carried it was

VOTED that the Report of the Chairman of the Executive Committee, as presented, be approved.

REPORT ON CONSTRUCTION OF MUSEUM OF HISTORY AND TECHNOLOGY BUILDING

The Secretary stated that this is a very important part of the work of the Smithsonian Institution. This large building is the first really great building in 50 years for the Smithsonian. The builders who were selected by bids secured by the General Services Administration are, as the Board well realizes, far behind time. With the permission of the Board Mr. Bradley, Assistant Secretary, presented a report on the new building.
Senator Anderson raised the question of proper authorization for the expenditure of money for additional work on this building. The Chancellor inquired as to the procedure

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