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SMITHSONIAN INSTITUTION 519 
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MADE BY BAKER-VAWTER CO.
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That the Executors with the written consent and approval of the Smithsonian Institution and perhaps with the authority of the Probate Court of Wayne County, Michigan, under jurisdiction of which this Estate is being administered, make an arrangement with some Washington bank or trust company for a loan of the amount required and secured by a specific pledge of a satisfactory amount of collateral of the Estate's assets remaining in the hands of the Executors; that with the proceeds of this loan the Executors will pay up all the balance of the outstanding obligations of the Estate; that thereupon the Executors transfer to the Smithsonian Institution the residue of the Estate subject to such loan; that the Smithsonian Institution agree that they will accept the transfer of such residue subject to such outstanding loan and assume and agree to pay it; that the bank or trust company with which the loan is negotiated agree with the Executors, as a condition of the loan that it will release the Executors and the Estate of Charles L. Freer from all liability in connection therewith as and when transfer of the residue is made to the Smithsonian Institution and the obligation of the loan is assumed by it as an incident of such transfer.

The foregoing plan, if we are able to arrange it, will enable the Executors to close the Estate and secure their discharge which, of course, we are anxious to do; it will also be a means of effecting a prompt delivery to the Smithsonian Institution of its property and will, in addition, be the means of saving what occurs to us to be an unwarranted and needless sacrifice in values which is bound to occur if some such plan cannot be worked out and the Executors forced to sell the assets in the present market.

The Executors submit the foregoing to you in the hope that you will take it up as promptly as possible and advise us what your conclusions may be.

Respectfully yours,

(Signed) Frank J. Hecker

(Signed) Charles D. Walcott

Detroit Trust Company
By (Signed) Chas. P. Spicer
Vice President.

Executors of the will, Charles L. Freer
deceased.

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