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[[preprinted]] SMITHSONIAN INSTITUTION 487 [[/preprinted]] [[preprinted left margin]] MADE BY BAKER-VAWTER CO. [[/preprinted left margin]] RESOLVED; That the carrying out of the provisions of Section 20 as quoted above be referred to the Secretary with power to carry the same into effect. On motion, the resolutions were adopted. The special bequests of Items 1, 2 and 3 have been received by the Institution from the executors of the Freer Estate in stock of Parke, Davis & Company, as follows: [[item]] | Shares | Value when received | Income when earned Item 1. | 1724 | $156,885.50 | $8,620.00 "[[ditto for Item]] 2. | 1724 | $156,885.50 | $8,620.00 "[[ditto for Item]] 3. | 431 | $ 39,233.75 | $2,155.00 [[underlined]] Item 4. [[/underlined]] [[underlined]] Residual Estate. [[/underlined]] The residual estate is still in the hands of the executors who are paying from its income the expense of unpacking and installing of the collections. [[underlined]] Educational work of the Freer Gallery of Art. [[/underlined]] [[underlined]] First Codicil[[/underlined]] 4. "I give, devise and bequeath to the Smithsonian Institution, named in said will, the remainder of my estate real and personal, wherever situated. If any exigency shall arise making such use necessary, the income from such residue of my estate shall be used for the care, protection and maintenance of the building in my said will provided for, and of the collections in my said will mentioned. If no such exigency shall arise, so much of the income from such residue shall be used for the encouragement of the study of the civilization of the Far East as the Regents of the Smithsonian Institution shall determine; and the remainder of the income from said residue shall be used for the promotion of high ideals of beauty and, to that end, as opportunities shall from time to time occur to make the same, occasional purchases shall be made of very fine examples of Oriental, Egyptian and Near Eastern fine arts, after original objects of art produced in the Far East, Egypt, or the Near East shall have been examined and approved by one or all of my following named friends, namely, Miss Katherine N. Rhoades, Mr. and Mrs. Eugene Meyer, Jr., and Mrs. H. O. Havemeyer, in consultation with the Fine Arts National Commission, which I require shall be consulted as to all purchases for the collection. Such purchases shall become part of the Freer collection. If, from lack of opportunity, the last described purchases cannot be made, and opportunities from time to time arise for the purchase by the Smithsonian Institution of works of painting, sculpture and pottery of high aesthetic quality the work of American painters, sculptors and potters, then such purchases shall be made and the works purchased shall immediately become the property of the United States National Gallery of Art, in perpetuity and for exhibition in its own galleries or for loan exhibition in such other galleries everywhere throughout the world as may seem safe and wise to the Regents of the Smithsonian Institution (U. S. National Gallery of Art), excepting that no such paintings, works of sculpture or pottery so purchased with any part of said income shall be exhibited permanently in the building mentioned in the 18th paragraph of said will. Such residue of income shall, however, be allowed to accumulate until opportunity arises to purchase objects of art of the very highest quality needed in the collection." [[initialed]] CDW [[/initialed]]
