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Board of Regents of the Smithsonian Institution to succeed Senator Clinton P. Anderson, who did not run for re-election.

Mr. Ripley also advised that in a letter dated January 11, 1973, the Speaker of the House advised that he had reappointed Representatives George H. Mahon and John J. Rooney as Members of the Board of Regents of the Smithsonian for a term of two years. He advised also that the Minority Leader has not made his recommendation for replacing the late Representative Bow. [It was learned that on January 23, 1973, the Speaker of the House had appointed William E. Minshall of Ohio to replace the late Representative Bow as a Member of the Board of Regents.]

[[underlined]] Minutes of Meeting of November 20, 1972 [[/underlined]]

The Executive Committee noted that the minutes had been sent on December 1, 1972, to the members of the Board and having no changes to suggest recommended approval of the Minutes of the meeting of November 20, 1972. A motion for approval of the Minutes was offered and it was:

VOTED that the Minutes of the November 20, 1972 meeting, as previously circulated, be approved.

[[underlined]] Financial Reports [[/underlined]]

Mr. Webb requested Mr. Wheeler to give the Financial Report of the Federal and non-Federal funds of the Institution. This report, forwarded to each member of the Board in advance of the meeting, was included in the report of the Executive Committee.

The Executive Committee particularly noted the [[underlined]] Investment Funds Summary [[/underlined]] which indicates that fund values have increased further in the fourth quarter of 1972. Mr. Burden stated that it was still too soon to pass judgment on the performance of our three investment managers.