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TABLE 3.-Allotments of Federal money to the States and Territories for vocational education and vocational rehabilitation, years ending June 30, 1935 and 1936

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1 The allotments to Hawaii and Puerto Rico are not included in the totals under the Smith-Hughes Act.

2 Trade and industrial education, $30,000; home economics education, $30,000.

GENERAL EDUCATION BOARD

(L. M. DASHIELL, Treasurer)

This corporation, which was created by an act of Congress approved January 12, 1903, section 6 of which requires the corporation to file annually with the Secretary of the Interior a report, in writing, stating in detail the property, real and personal, held by the corporation and the expenditure or other use or disposition of the same or the income thereof during the preceding year, has for its object the promotion of education within the United States.

On June 30, 1935, principal fund, belonging without restriction to the Board, amounted to $44,415,140.50. This fund is invested in stocks and bonds. In addition the sum of $11,597,952.21 is reserved to pay appropriations to various educational institutions. This fund is also invested in stocks and bonds. Lapses and refunds on prior years' appropriations amounted to $1,250,000 and $470, respectively. The sum of $499,729.20 was paid during the year ended June 30, 1935.

Appropriations from income during the year aggregated $4,994,150.03. Lapses on account of prior years' appropriations amounted to $741,673.71, however, leaving a net increase in income appropriations of $4,252,471.32.

The income from the above funds, together with income from undisbursed income (and including the sum of $142.85 received on account of income from the estate of Lucy M. Spelman), amounted during the year to $2,525,124.35. The balance of income from the previous year as of June 30, 1934, amounted to $11,334,932.44, together with sundry refunds amounting to $71,561.84, which increased the total to $13,860,056.79.

Disbursements from income during the year were as follows:

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This leaves an undisbursed balance of income on June 30, 1935, of $10,260,615.49, which is invested as follows: Securities, $4,961,906.89; certificates of deposit, $3,500.000; cash on deposit, $1,367,719.04, and accounts receivable, net, $430,989.56. It should be noted, however, that against this balance of $10,260,615.49 there are unpaid appropriations amounting to $9,233,709.30, leaving unappropriated income amounting to $1,026,906.19.

The Anna T. Jeanes Fund, the principal and interest of which are to be used for Negro rural schools, amounted, on June 30, 1935,

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