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REPORT OF THE EXECUTIVE COMMITTEE.

The Executive Committee respectfully submit to the Board of Regents the following report of the receipts and expenditures of the Smithsonian Institution during the year 1857, with estimates for the

year 1858:

RECEIPTS.

The whole amount of Smithson's bequest deposited in

the treasury of the United States is $515,169, from which an annual income, at 6 per cent., is derived, of $30,910 14 Extra fund from unexpended income invested as

follows: In $75,000 Indiana 5 per cent. bonds, yielding ...

$3,750 00 In $53,000 Virginia 6 per cent. bonds, yielding ....

3,210 00 In $7,000 Tennessee 6 per cent. bonds, yielding......

420 00 In $500 Georgia 6 per cent. bonds, yielding.....

30 00 In $100 Washington 6 per cent. bonds, yielding ......

6 00

7,416 00

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Balance in the hands of the Treasurer January 1,

1858, of which $5,000 belongs to the extra fund.

10,341 30

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Explorations....

$57 52 Collections

49 78 Alcohol, jars, and museum incidentals...

445 77 Transportation for museum....

450 00 Assistance and labor in museum

500 00 Gallery of art...

82 87

$6,999 81 Total expenditure ........

$35,149 16 The estimated income for the year 1857 was $38,290 14, exclusive of the balance in the hands of the Treasurer; the actual income exclusive of this balance was $38,326 14.

The estimated expenditure amounted to $34,000, the actual expenditure to $35,149 16. The excess is due to unexpected repairs, necessary to the building in consequence of a very severe hail storm, which broke several thousand panes of glass, and otherwise injured the edifice; and to the payment of the last unsettled account contracted by the architect for the gas pipes and fixtures.

The expenditures, however, are less than the income for the year, leaving a total balance now in the hands of the Treasurer of $10,341 30. Of this sum, $5,000 are the remainder of the extra fund, ($125,000,) intended to be permanently invested, and the whole is at present required for carrying on the operations of the Institution, until the receipt of the next semi-annual income.

During the past year, the stocks purchased by the Institution temporarily declined in commercial value, but they are now selling at about the same prices as those at which they were bought. Fluctuations, however, of this character do not affect the income of the Institution, since the amount of interest continues permanently the same.

The committee respectfully submit the following estimate of the receipts and expenditures for the year 1858:

Receipts.
Balance in the hands of the Treasurer January 1, 1858,

(exclusive of $5,000 belonging to the extra fund)......
Interest on the original fund for 1858.......
Interest on the extra fund invested in State stocks....

$5,341 30 30,910 14 7,416 00

$43,667 44

Expenditures.

BUILDING, FURNITURE AND FIXTURES, ETC. Repairs and incidentals.......

$1,500 00 Furniture and fixtures in common.

500 00 for library...

150 00 for museum

150 00 Magnetic observatory.

50 00

$2,350 00

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