The publications of The American Museum of Natural History for the year have been the Annual Report, the Bulletin, the Anthropological Papers, Natural History -Journal of The American Museum of Natural History, the Guide Leaflet and the Handbook.

Publications

The Bulletin is devoted to the publication of the results of field and laboratory work. It consists of about twenty articles issued at irregular intervals throughout the year. During 1920, Volume XLII was published, which contains seventeen articles: one on mammalogy, two on ichthyology, ten on invertebrate zoology, one on herpetology, two on comparative anatomy, and one on invertebrate paleontology. Volume XLIII, which consists of seven articles on the invertebrate zoology of the Belgian Congo, was also published. The total pages for the year are 1,110, with 386 text figures and 53 plates.

The Anthropological Papers are the organ of the Museum's Department of Anthropology and are now in their twenty-sixth volume. The eight parts which appeared during 1920 include articles on the San Carlos Apache, Crow, Sarsi, Cree, Ojibway, Canadian Dakota, Sisseton Dakota, Shoshoni, Ute, Hidatsa and White Mountain Apache tribes. With the publication of their Title-page and Indices, Volumes XII, XIV and XVII have been completed. The total number of pages is 918, with 45 text figures and I map.

Natural History, which has just completed its twentieth volume, has been made a bi-monthly publication.

A new edition of Handbook No. 1, “North American Indians of the Plains," has been issued, also of Handbook No. 4, "Animals of the Past." There have also been new editions of the General Guide and of Guide Leaflets Nos. 38 and 39. The following reprint appeared: "Deep Sea Fishes," by Dr. Louis Hussakof. "A First Chapter in Natural History," by Dr. F. A. Lucas, was reissued as Guide Leaflet No. 51. "An Hour in the Museum," which takes the place of the former Key, gives, as the title implies, a schedule which enables the hurried visitor to see all the most interesting and important exhibits in an hour's tour.

GENERAL SUMMARY.

In closing the Fifty-second Annual Report and summing up the work of the year 1920, it seems that in many ways this has been the greatest year in the entire history of the Museum. The recognition by the city, of the Museum as an essential part of its great public educational system, by granting a maintenance fund one hundred fifty-three thousand dollars greater than it granted two years ago, is equivalent to adding three million dollars to our Endowment Fund, because there is no probability that the Museum will receive a lesser amount in future years. This action of the present city administration came after the most thorough examination both of the work which the Museum is actually doing and of its methods of business administration. We have invited the closest scrutiny of not only our minutes and letter files but of all our records and accounts. At a critical moment we decided to introduce the city schedule for our entire list of officers and employees. This means that every name is subject to the scrutiny of the duly authorized officers of the Board of Estimate and the Finance Department. Our summaries of divisions of expenditures, of costs, of increasing scale in wages and salaries can therefore be compared with every other department in the city.

On the other hand, during the past year the Board of Estimate and Apportionment, the Board of Aldermen, the Finance Department of the city, as well as the Department of Parks, have shown the utmost promptitude in meeting our payrolls and in paying our bills. There has been no disposition on the part of any city officials to take advantage of the open method of administration; there have been, on the contrary, the utmost courtesy and good will.

On behalf of the Trustees of this institution the President desires to extend the sincere acknowledgments of the Board of all these courtesies and of this prompt coöperation for the welfare of the Museum. This welfare means increased civility and hospitality to the rapidly increasing number of visitors from all parts of the United States, as well as to the increasing numbers of school teachers and children who are coming to

the Museum or are reached through the Museum extension system. Employees who are adequately reimbursed for their work give cheerful and attentive service. They join in the esprit de corps which is now manifest throughout the entire institution, namely, that all are working together to subserve public welfare. It is very rare indeed that we receive any criticism from visitors, perhaps not once a year. On the other hand, we receive many testimonials of the pleasure visitors have experienced in the courtesies shown to them. This hospitable atmosphere extends throughout the entire institution, to young and old, to all classes and conditions.

Now that the remuneration of our scientific and administrative staffs and of our employees has been placed on an adequate basis, we must turn with renewed energy to providing adequate space for the exhibition of our long accumulated collections and for the truly educational arrangement of all our exhibition halls. This great work will be accomplished, we trust, through united effort and good will on the part of the Board of Trustees and of the City and State governments during the coming fifty-third year of the life of the Museum.

Respectfully submitted,

HENRY FAIRFIELD OSBORN,

President.

FINANCES, MAINTENANCE, ENDOWMENT

It is a self-evident fact that progress in research, exploration and the educational activities of the Museum is primarily dependent upon the finances. The care of the finances, therefore, is one of the most important responsibilities that face the Trustees, especially with respect to the investment funds of the Museum. In these days of rapidly changing values of securities of all kinds, eternal vigilance is necessary to conserve our resources. Realizing the importance of this matter, upon the recommendation of the Treasurer, the Trustees early in the year invited Messrs. Arthur M. Anderson, Francis D. Bartow and Charles E. Mitchell to serve as an Advisory Committee on Investments. All three accepted the invitation, and throughout the year they have been gratuitously rendering extremely valuable service. The Museum is fortunate to thus have at its disposal such expert advice. Under the recommendations of the Advisory Committee on Investments, the Finance Committee has disposed of several of the less desirable securities, which had been acquired by gift or purchase years ago, and has converted the proceeds into holdings of greater security. At the same time, new investments have received most careful consideration.

While the financial accounting of the Museum is becoming more complex every year, with the increase in the amount of the budget and the diversification of the Museum's activities, the general methods of accounting have proven satisfactory and no material change has been necessary.

The work of the Treasurer's department, under the direction of the Bursar, Mr. Frederick H. Smyth, has been very efficient. The receipts and disbursements of all accounts of the Museum are followed under a budget system. In February of each year the Trustees approve a budget, itemized for each character of expense, and at each meeting thereafter there is submitted a statement showing in detail the net receipts and

disbursements to the end of the preceding month and the estimated receipts and disbursements to the end of the year, including all orders placed, salaries due to December 31 and the amount of departmental allowances and reserves available. The strict adherence to a budget system is one of the reasons for the satisfactory financial status of the Museum accounts. The total disbursements for 1920 were $844,033.85, compared with $647,382.95 for 1919.

In order to keep the various classes of funds distinguishable from one another, they are kept in five major accounts, namely, Endowment and Investment Account

City Maintenance Account

General Account

Morris K. Jesup Fund Account

Special Funds Account

and four minor accounts, namely,

Crocker Land Expedition Fund Account

Corporate Stock Account

Incidental Account

Museum Building Fund Account

The details of the receipts and disbursements of each account will be found under the respective headings in the Treasurer's Report, pages 125 to 143.

Endowment

and Invest

The Endowment and Investment Account is solely for the transactions relating to the moneys received and disbursed for investment. The principal additions to the capital of the Endowment during 1920 were the ment Account first payment, amounting to $1,000,000, on account of the Margaret Olivia Sage Bequest (the details of the disposition of which are clearly shown in the footnote on page 126); the bequest of Augustus D. Juilliard of $100,000; of Helen C. Juilliard of $50,000, and of Fanny Bridgham of $15,000, which with subscriptions and membership fees show a total of $1,173,700. During the year, on advice of the Advisory Committee on Investments, the Finance Committee sold certain stocks of the Morris K. Jesup Fund,