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outlet for museum catalogues. Mr. Sickman noted that a similar suggestion had been made and endorsed by the Museum Directors' Association some years ago, but no results were forthcoming.

Senator Scott asked that all possibilities be explored and all available information including commercial possibilities, be gathered together for discussion at the next meeting.

Ames Wheeler, Treasurer of the Smithsonian Institution, explained to the Committee the total return concept of investment. Mr. Wheeler pointed out that the original Freer bequest was less than $2,000,000.00. With growth over the years, the present endowment is now over $20,000,000.00. In instituting the total return concept, new managers were engaged. Freer funds are now being managed 75% by T. Rowe Price of Baltimore and 25% by Thorndike, Doran, Paine and Lewis of Boston. As a result of the increase return from the investment, it is anticipated that in 1973 the yield in interest and dividends will be $868,000.00. At the same time, the Smithsonian Institution increased the overhead charge against the Freer Gallery from $40 - 45,000