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Offer of Settlement of Suit relating to Sprague Will

The Smithsonian Institution is the residuary legatee of a trust under a will dated November 25, 1899, of Joseph White Sprague of Luisville, Kentucky.

The law firm of Hanson, Cobb, O'Brien and Tucker, Counsel for the Smithsonian Institution, has recommended acceptance of a settlement of the law suit filed by certain income beneficiaries and heirs.  offer of settlement is in the amount of $35,000. Since the income beneficiaries are clearly entitled to approximately $5,000, the offer constitutes the settlement of an estate of over $1,500,000 for the amount of $30,000. The Members of the Executive Committee reported to the Board that they agreed with the recommendation of Counsel. The Board expressed its approval.

Personnel Matters

The Board approved the recommendation of the Executive Committee that if the President places one or both of the other two Assistant Secretaries of the Institution in Level IV on the Federal Executive Pay Act of 1964, an appropriate adjustment be made in the salary of the Assistant Secretary, Mr. Bradley. It was recognized that this is the level provided generally for the Assistant Secretaries in other agencies, at $27,000 per annum.

At this point the Secretary, Mr. Bradley, and the stenographers were excused and the Board discussed in Executive Session the question of providing an allowance to the Secretary for certain expenses incurred at his residence incident to his official position.

It was subsequently disclosed that the Board approved such an allowance in an amount no to exceed $7,500 per annum, beginning January 1, 1965, to be expended and accounted for in accordance with terms to be developed by Mr. Powers, General Counsel, based on the advice of the Internal Revenue Service.