First Prize, of ten thousand dollars, for a treatise embodying some new and important discoveries in regard to the nature and properties of atmospheric air, to Lord Rayleigh, of London, and Prof. William Ramsay, of the University College, London, for the discovery of argon.
Second Prize, of two thousand dollars, not awarded, owing to the failure of any contestant to comply strictly with the terms of the offer.
Third Prize, of one thousand dollars, to Dr. Henry de Varigny, of Paris, for the best popular treatise upon atmospheric air, its properties and relationships. Dr. de Varigny's essay is entitled L'Air et la Vie.
Besides these capital prizes, three silver medals and six bronze medals, coupled with honorable mention, were awarded to gentlemen for essays of great merit. To name all those awarded honorable mention would occupy more space than at our command.
On November 7th, Lord Rayleigh and Prof. William Ramsay called at the United States embassy, London, and received from the Secretary a check for ten thousand dollars, communicated by the Smithsonian Institution. It was a fortunate circumstance that the Smithsonian had the opportunity of awarding the first prize for so momentous a discovery as that of argon.
Finances.—The Annual Report of the Executive Committee of the Board of Regents for the year ending June 30, 1895, gives the following as the financial status of the institution:
Total Funds in 1895.
| Bequest of Smithson, 1846 | $515,169 |
| Residuary legacy of Smithson, 1867 | 26,210 |
| Savings from income, 1867 | 108,620 |
| Bequest of James Hamilton, 1875 | 1,000 |
| Accumulated interest of the James Hamilton fund, 1895 | 1,000 |
| Bequest of Simeon Habel, 1880 | 500 |
| Sale of bonds, 1881 | 51,000 |
| Gift of Thomas G. Hodgkins, 1891 | 200,000 |
| Residuary legacy of T. G. Hodgkins, 1894 | 8,000 |
| $911,499 | |
Receipts in 1894-95.
| Interest on fund, one year | $54,473 | |
| International exchanges | 17,000 | |
| Bureau of Ethnology | 40,000 | |
| National Museum | 166,500 | |
| Astro-physical Observatory | 9,000 | |
| National Zoölogical Park | 50,000 | |
| $336,973 | ||
In addition to the above funds the Smithsonian Institution will soon receive the proceeds of a bequest made by the late
