Viewing page 433 of 520

This transcription has been completed. Contact us with corrections.

SMITHSONIAN INSTITUTION    1606

equitable considerations involved in executing a waiver in favor of the Estate of Mrs. Martha A. Seidell. Senator Saltonstall raised the question as to whether the Regents had the right to execute a waiver. He pointed out that the Smithsonian Institution was a nonprofit organization and that this was property to which the Institution was legally entitled. The Chief Justice observed that the counsel of the Smithsonian Institution had stated there was no legal bar to the execution of a waiver by the Board of Regents. It was perfectly clear that Mrs. Seidell had no intention of leaving anything to the Smithsonian Institution. It was recalled also that Dr. Seidell had been very generous to the Smithsonian Institution. Senator Saltonstall stated he appreciated the equities of the matter. The Chancellor referred to his experience at the National Gallery of Art where gifts are refused for various reasons, regardless of value. The position that the Smithsonian Institution has the right to decline gifts was emphasized. On motion by Dr. Greenewalt, seconded by Dr. Brown and Dr. Haskins, and carried it was

VOTED that the Board of Regents approves executing the waiver in favor of the Estate of Mrs. Martha A. Seidell for that portion of her estate which under the operation of the laws of the District of Columbia would become a portion of the residual estate of her husband, Dr. Atherton Seidell.

Dr. Fleming requested the views of the Regents on the management of the funds received from the Will of the late Robert Lee Forrest, stating that there was no need to use the capital. On motion by Dr. Greenewalt, seconded by Dr. Brown, and carried it was

VOTED that funds received by the Smithsonian Institution under the Will of the late Robert Lee Forrest be treated as unrestricted funds of the Institution, and that in the management of these funds the same procedures be used that are employed in the management of the Consolidated Fund of the Smithsonian Institution (composed of both Restricted and Unrestricted Funds); and that the income only of the Forrest bequest be expended for the purposes of the Smithsonian Institution, until contrary action is taken. 

There being no further discussion, on motion by Dr. Greenewalt, seconded by Dr. Haskins, and carried it was

VOTED that the Report of the Chairman of the Executive Committee, as presented, be approved.