(A.) TREASURER'S REPORT. WASHINGTON IRVING, Esq., President of the Trustees of the Astor Library: SIR,-I herewith present my yearly report of the situation of the funds and property of The Trustees of the Astor Library, and also a detailed statement of its receipts and expenditures, according to the requirements of the charter. The devisees of the land taken for the site of the library edifice, (excepting Mrs. de Nottbeck for one-sixth of the income,) not having received the interest collected on the stocks reserved to meet their claim, it has been deposited in the New-York Life Insurance and Trust Company. The stocks bearing a high premium, it was deemed expedient and safe to sell the stocks reserved for this purpose. They yielded the sum of $26,401.10. The amounts of interest received on the stocks were $2,039.18. Crediting the payment to Mrs. de Nottbeck of one-sixth, the balance, $1,699.31, was deposited with the proceeds of the capital in the N. Y. Life Ins. and Trust Company, to wait a favorable investment on bond and mortgage for the capital. The certificate stands in the name of Mr. Astor's executors, and bears date November 30, 1850. A letter was addressed by the executors of Mr. Astor's will, according to the request of the trustees, to learn if this realizing of the funds was objectionable to them; it was delivered to those who were in the city, and no objection was communicated in reply. The interest realized during the last year, was $6,862.20; for the greater part of the year, the funds were at a low interest with the trust company, waiting proper investments. The expenses of the year, including one half-yearly payment to the architect in advance, were $5,614.74. The interest on the bonds and mortgages for the current year, will be $6,325, in addition to that upon the deposit in the trust company and on the U. S. stocks till their sale. This deposit and these stocks are relied on to furnish the funds to pay for the erection of the edifice, and for the purchase of books in Europe, according to the intentions of the trustees, and they will be very ample for the present wants of the institution. The loans are upon good security, verified, when the property is out of the cities of New-York or Broaklyn, by the appraisal of experienced and reliable gentlemen; and the bondmen are believed, in all instances, to be men of property and integrity. I communicate to the trustees a note of the mortgage securities. I am, very respectfully, Your obedient servant, DANIEL LORD, Treasurer. New-York, January 29, 1851. Statement of the condition of the funds aud property of he trustees of the Astor library, Dec. 31, 1850. DR. For the amount of legacy of Mr. Astor's fund for erection of buildings,.. Fund for establishing library, Fund for maintaining, &c.,... Value of donation of books from Mr. Cogswell,. . . $75,000 00 120 000 00 205,000 00 1,029 98 NOTE.-The above sum, deducting the amount of expenses is (435,992,59-7,299,28) .. .... The only claim on the property is the amount of the value of the site and its increase now in deposit in the Trust Company,.. The nett property of the Institution is.... on the treasurer's books. $428,693 31 28,100 41 $408,592 90 The premium on the U. S. stocks now held by the library, at present prices, 116, is $9,280,00. |