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of this bequest, and in order to honor Dr. Seidell's memory, it is recommended that the proceeds from the sale of the apartment building be used to establish the Atherton Seidell Endowment Fund, the income of which (estimated at $40,000 to $50,000 annually) would be used for the purposes specified, and the principal to remain intact except for extraordinary requirements. The following motion was approved:

VOTED that the Board of Regents approves the transfer to endowment of the net sales proceeds of the apartment building at 2301 Connecticut Avenue, to establish the Atherton Seidell Endowment Fund, the income of which is to be used for the purposes specified in Dr. Seidell's Last Will and Testament and the principal of which may only be expended on approval of the Board of Regents.