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SMITHSONIAN INSTITUTION

David K. E. Bruce, United States Ambassador to Great Britain, in association with an anonymous donor. Also, he and his cousin, Mrs. Howard Bruce of Baltimore, are willing to make a cash gift totaling $100,000 for the maintenance of the Belmont property. Mr. Bruce understands that the Smithsonian could not be committed to maintain the house and grounds permanently, but his cousin would like to have the house retained by the Smithsonian as long as possible. Mr. Bruce has expressed the opinion that at the end of ten years the property might be worth $1,000,000. Dr. Ripley stated the house was of great interest but that he would not care to live so far from Washington. The house has great historic value and might possibly be developed for specific purposes of the Institution such as a biological reserve and as a center for scientific study and discussion. Since Mr. Bruce had made the statement that he would not expect the Smithsonian to retain the house permanently, the Smithsonian appeared to be in an advantageous position.

On motion by Senator Saltonstall, seconded by Dr. Haskins, and carried it was 

VOTED that the Secretary, in collaboration with the Executive Committee, be empowered to discuss this proposal with Mr. Bruce and the donor. An understanding should be negotiated that the house will be indefinitely conserved unless the Institution determines this to be burdensome and a sale is arranged. If such an understanding is reached with Mr. Bruce and the donor, the Executive Committee is further authorized to accept the gift of $500,000 and to purchase the Belmont house and land for that amount.

REPORT ON FEDERAL BUDGET AS APPROVED FOR SUBMISSION TO THE CONGRESS FOR THE FISCAL YEAR 1965

The Secretary stated that the summary before each member was for information.

DATE FOR SPRING MEETING OF THE BOARD OF REGENTS

On motion, duly seconded and carried, the following resolution was approved:

RESOLVED, That the spring meeting of the Board of Regents be set for Wednesday, May 13, 1964, at 5:00 p.m., to be followed by a dinner.

ADJOURNMENT

On motion, the meeting was adjourned at 1:10 p.m.

Respectfully submitted,
Leonard Carmichael
Leonard Carmichael
Secretary