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National Academy of Design.

CONFIDENTIAL.

Overtures have been made looking to the purchase of the National Academy of Design building, and of the two houses adjacent thereto on the west, which the Academy also owns.

Mr. George R. Read, of No.  11 Pine Street, a real estate broker of high character and standing, is acting for the purchasers.

Negotiations have been carried on for some time, with the result, that he has made an offer of $600,000 for the whole property.

It is important that some one should be authorized to act further on behalf of the Academy. I have gone as far as I can go without further authority.

Questions relating to the scale of real estate must be decided upon by the whole body of Academicians. To secure the presence of a quorum at a meeting in New York would be difficult, and perhaps impossible, at this season. Even if a bare quorum should be obtained, those present might hesitate to act in a matter of such importance, without ascertaining the wishes of a majority of the whole.

It has therefore seemed best to seek an expression of views from the whole body of Academicians. If a majority of the whole body desire me to effect a sale, I will use every effort to consumate [[consummate]] the sale at the best possible price. Mr. Read has indicated that his parties will be satisfied with a contract thus authorized, and would be willing to await the formal action of the Academicians at a more convenient season. 

If, therefore, you are in favor of selling the property, please sign the enclosed authorization, and mail the same to me. The course that I am now pursuing, has been adopted with the advice and concurrence of Messrs. Lee & Lee, No. 20 Nassau Street, New York, the counsel for the Academy.

If you are opposed to selling, please write a line to that effect to me addressed as below.

For reasons, which it would take too long to detail, I consider it of great importance that this proposed sale should be kept secret until either a contract has been signed, or present negotiations have been broken off.

MONTROSE.
Susquehanna County, Pa.,
July 25, 1894.

James D. Smillie
Neas. N.A. of s.

WW. thos. Seir Cummings n.a.