The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-12-08
THE TBLFAIR ACADEMY.
Brief Statement of the Views of the
Minority.

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Minority.
Editor Morning Ne,os. My name has been
OF late so often used IN the Savannah papers
in reference 10 the TelEair trust that may
be permitted TO make a brief explanation Of
my connection with the matter.
/ have never felt any desire to be con-
nected with the business of the Telfair trust
under the present system Of management
by large board OF gentlemen elected with
a view to their fitness as officers Of an hiss
torical society. But the society is the trus-
tee and was an officer of the society, and, as
such. member of the board, and therefore
legally and morally responsible for my
share in the discharge Of the trust. was
therefore not a voluntary intermeddler,
but an officer, whose duty 1t was to say
that he thought the policy Of the board upon
a vital point wrong, if he so considered.
did so, and the board disagreed with my
views therefore resigned my office in the
society, that being the only method by
which could relieve myself from official
duty concerning the trust
The productive property of the trust oon-
sists of 1000 shares Of the Augusta and
Savannah railroad stock, the income from
which, together with the door receipts,
brings US about S., 900 per annum.
Our expense account, including the
directors salary, interest on the debt, and
necessary expenses, was between s., 900 and
So 900 a year, of which only the iuteress,
and less than 81 200, were necessary, the
balance being voluntary upon our part.
We owe about $21 900 to the president OF
the society. The corpus of the trust not
being available for ehe payment Of the
debt, believed that. under such cirsum-
stances, the managers Of any ordinary trust
would at once proceed to cut off all volun-
tary expenses, and 20 pay the debt as fast as
possible.
believed that the first effort of an instl-
tuition, which oontemplates future growth.
Is to relieve itself from the embarrassment
Of debt, and thus to get ready for an ex-
pansion of usefulness; and, especially, when
the trust is invested In railroad stock, the
duty seemed to be imperative TO pay the
debt while dividends we're still received.
In this view l might be right or wrong,
bat believed it to be true; and In our
especial case the justice Of the view seemed
emphasized this year by the troubles Of the
Central railroad.
OF course, the wisdom Of this policy in
ordinary cases is modified il there are higher
objects to be attained than the payment of
debt, and it remained to be considered in
this case whether there was any such object.
The sole object with us against the adop-
ton Of the policy was the retention Of the
services OF the director of the academy.
This object did not seem to me to be suf-
ficient; and know of no living artist, OBJ
tainable by us, whose services would be so
important as to overcome the paramount
claim.
The question Of the merits Of the present
director had nothing to do with my view of
the matter.
Neither had the attitude Of the creditor
In my Judgment the real question was not
whether the president wished or did not
wish his money, but whether the trust
ought 60 continue 90 owe the debt, although,
as a matter of course, IL he had intimated a
desire TO be paid, that desire should naturally
increase the wish of the board 60 pay it.
therefore expressly decline to go into
the question of the presidents position.
NV motion was TO pay over the income,
except so much as was necessary to keep
the academy clean, IN repair and ready for
visitors It did not contemplate closing the
building or permitting any injury to the
property or paintings.
One word more. The intimation in q
recent publication that Mr.. Hops moved
before the society at my request is not
based upon facts, and does that gentle-
mans intelligence great injustice. Mr..
Kops' motion was voluntary. and not at my
request. l, myself. was bound by an un-
Outstanding with a majority Of the board
not to move on Monday night last, and re-
manned away from the meeting because of
that agreement. and because of my resig-
nation.
have had the misfortune to differ with
the board, but no member of the minority,
with whom have had the pleasure Of vot-
ing, has arraigned the board.
CHARLES N. WEST.