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income receivable from the trust is reduced by the amount of income received from such endowment so obtained, and, on the Grantor's death, the endowment to be paid to this institution is reduced by the amount of endowment theretofore received from other sources.  Under the terms of Mr. Heye's agreement with this institution, dated April 1, 1923, Mr. Heye agrees to make good any deficiency in the income payable to the beneficiary under the Deed of Trust during his lifetime, and guarantees that at or before his death the Museum will receive an endowment of not less than $400,000 and agrees that any deficiency not received during his lifetime from other sources and not realized from the trust property shall be made good from his estate.

At the meeting held on December 4, 1923, Mr. Archer Milton Huntington offered to donate to this institution the property in the Borough of the Bronx which is hereinafter more particularly referred to and his generous and timely offer, in view of the great need of the institution for additional exhibition and storage space was gratefully accepted by the Board.

At the meeting held on February 5, 1924, a quorum of the Trustees not being present all proceedings were taken subject to confirmation at a subsequent meeting.  Pending such ratification the minutes were approved in writing by an absent Trustee so that the later confirmation of the action taken was assured.  At this meeting, the consummation of the gift from Mr. Archer M. Huntington of the Bronx property was reported and action was authorized looking to the closing and discontinuance of the proposed street across that property.  The preparation of preliminary drawings for buildings to be erected on the property was authorized.  The Budget for the coming year was laid before the meeting and approved and pledges were received from members of the Board substantially covering the budget requirements for the year.

MEMBERS

At the meeting of the Trustees held on December 4, 1923, Mr. Arthur M. Hunter of No.1 East 51st Street was elected an Annual Member and at the meeting held on February 5, 1924, Dr. Gustav Struve of Ecuador was elected a Life Member.

REPORT OF ATTENDANCE

For Last Fiscal Year, April 1, 1923 - April 1, 1924

                    Week Days   Sundays   Holidays    Total
April.............    7,354      6,529       ....    13,883
May...............    6,490      5,983        987    13,460
June..............    3,513      2,075       ....     5,588
July..............    4,276      2,562        476     7,314
August............    2,574      1,038         70     3,682
September.........    2,225      1,611        186     4,022
October...........    1,914      1,708        187     3,809 

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REPORT OF ATTENDANCE - Continued.

                    Week Days   Sundays   Holidays    Total
November..........    2,033      2,235      541       4,809
December..........    2,145      1,926      204       4,275
January...........    2,480      1,427      430       4,337
February..........    2,025      1,929      387       4,341
March.............    2,437      3,152     ....       5,589
                    -------     ------    -----      ------
  Total...........   39,466     32,175    3,468      75,109 

From Opening to Date
For last Fiscal Year...........................................    75,109
For Five Months Previous.......................................    38,201
                                                                 --------
Total Attendance, Since Opening of Museum......................   113,310

Total Attendance For First Year Opened, November 15, 1922 to November 14, 1923

Week Days......................................................    48,048
Sundays........................................................    38,951
Holidays.......................................................     5,152
                                                                   ------
Total                                                              92,151

From Opening to Date

Largest Daily Attendance:
    Sunday, November 19, 1922, clear and cool..................     2,400
Smallest Daily Attendance:
    Wednesday, February 20, 1924, severe snowstorm.............         5

MUSEUM BUILDING

The only repairs of importance that were found necessary during the fiscal year was the repairing of the roof of the Museum building.

The work of labeling the specimens has progressed considerably and will continue during the year.

OTHER REAL ESTATE

The New Museum Site.  The indebtedness of the Museum to Archer M. Hungtinton, Esq., who gave the site on which the present building stands, has been further increased by his munificent gift to the Museum of a triangular plot, comprising about six acres, bounded by Eastern Boulevard, Middletown Road and Jarvis Street, near Pelham Bay Park, in the Bronx.

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