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[[preprinted]] SMITHSONIAN INSTITUTION 521 [[/preprinted]] [[preprinted left margin]] MADE BY BAKER-VAWTER CO. [[/preprinted left margin]] It seems the reasonable and businesslike thing to do for the Smithsonian to accept the residual estate, assume the note, and pay it off from the interest. If the Executors hold the estate, they will have to pay interest at the rate of 8 per cent on any unpaid amounts of the State taxes and also pay an income tax on the money received from dividends on the Parke Davis & Company stock. The question now is, can the Board of Regents of the Smithsonian Institution legally accept the balance of the estate from the Executors and free the Executors of responsibility, which means assuming the responsibility for the payment of the note. I do not think that the Permanent Committee, consisting of the Executive Committee and the Secretary, could assume the responsibility, but I do think that the Permanent Committee should consider the matter and make a recommendation to the Board of Regents at its meeting on December 8. If you think well of it, I will submit the question to Mr. Choate, one of our Regents, and also to any other legal member of the Board that you may suggest. If you think it desirable that we get the opinion of some lawyer not a member of the Board, will you not suggest some one to whom it might be referred. The Carnegie Institution of Washington consults with Cadwalader, Wickersham & Taft, 40 Wall Street, New York, Mr. George W. Wickersham of this firm is a member of the Board of Trustees. This might be assumed as a precedent for having the Freer estate matter referred to some firm of lawyers with which one or our Regents is connected. This might assure more prompt and thorough consideration than if we went to a firm the members of which had no interest in the welfare of the Institution. I will send a copy of this letter to Dr. Bell and Mr. White of the Executive Committee. Sincerely yours, CHARLES D. WALCOTT. Judge George Gray, Regent of the Smithsonian Institution, Wilmington, Delaware. GEORGE GRAY 4042 Du Pont Building Wilmington, Delaware. November 10, 1921 Hon. C.D.Walcott, Secy. Smithsonian Institution, Washington, D. C. My dear Dr. Walcott: Your letter of November 2nd, in the matter of the settlement of the Estate of Charles L. Freer, was duly received, and I [[initialed]] CDW [[/initialed]]
