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exhibited in Washington, North Carolina, Florida, etc. after the New York exhibit under arrangements being made by Mr. Beggs.

The Academy has selected an additional one hundred paintings (oil and watercolors) to add to this group for the New York showing. These will have to be recalled from the institutions in thirty-five states to which they are now temporarily assigned.

A preliminary budget has been prepared to present this exhibition in the Academy's galleries from September 30 to October 14, 1958. The Academy is contributing the galleries and the staff at an estimated cost of $2,000. The advertising and publicity will be contributed from the Huntington Publicity Fund at a cost of $1,500. In addition to this however there will be an estimated expense of $2,500 to pack, transport and insure the 100 paintings and an expense of $1,840 for the 2,000 catalogs (124 illustrations). Could either or both of these items be charged against the Ranger Fund in as much as this exhibition is an extension of the activity of supporting and advancing American Art?

The Ranger Fund has at the present time an accumulated income balance of $35,659. An average income of $15,000 a year is being realized and the average annual expenditures for paintings comes to $10,000.

As no other funds are available for shipping costs and catalog it is the hope of the Council that these items can be charged to the Ranger Fund's accumulated income.