The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-03-09
TELFAIR ACADEMY.
The City Fund Which the Trustees
Have Reserved.

The City Fund Which the Trustees
Have Reserved.
Editor Morning Ne,cs: In your
very. complimentary and otherwise salts.
factory comments upon my informal report
to the Georgia Historical Society last even
ing, few Inaccuracies have very naturally
occurred which pray to cor rect.
Toward the close Of his remarks Gen.
jackson referred to the fact that, had the
society, as trustee under Miss Telfsir's will
administered the trust through the court of
ordinary, it would have been legally entitled
at the very lowest rate of compensation. to
~ per cent. on all moneys received and also
upon moneys disbursed, which, with 10
per cent. upon moneys realized from invests
ments. would have made an aggregate of
SI,4 l4; but, he continued, not a dollar had
been charged by the trustee society for the
work 1t has done through its officers and
turning to ward me he stated, most of this
money. about SIPS. 900, has been disbursed
through the director and he is the proper
person to enlighten you with practical
results.
The presidents accounting had already
shown that Of the Sl47 1896 Sc, S12 900 had
been applied 70 reducing the debt and
1881 65-through the architect, Mr.. Schwab
before my connection with the trust The
aggregate of these S17,601 65 being sub.
tracted from moneys received" leaves q
balance Of only Sf2g, 504 II, which was quite
insufficient TO meet all other expenditures
and allow S125.0O0 for pure objects of art.
This is explained by the fact that. very
shortly after l was put in charge of the
academy 1t began to pay the whole, or q
large part, OF its current expenses; and the
cost OF a few art purchases are charged as
credits In the presidents accounts
The mass of the money which has passed
through my hands was spent In perfecting
the changes of the Telfair residence. in
building the annex, composed Of the hall,
with marble stairway; the galleries and the
residence, containing the studios and iani-
tors rooms. and in the purchase Of works Of
art. The annex cost about $43, 900, Now.
the cost Of Hodgson hall was about $6O, 900.
and surely no competent architect will say
that the former is not decidedly the most
valuable structure. Mr.. Lienau declared
that it could not have been built in New
York for less than nearly double that
amount
am confident that place no exagger-
ated value upon the works of art which
have purchased for the academy, presented
or produced for the academy, when l
estimate it at S142, 600
Assuming that the annex is worth simply
what 1t cost, and that the improvements
upon and around the Telfair mansion have
given it an increased art value of $4,000,
we have an aggregate sum of $l95, 900 in
present value to show for the Sl35, 1896 Sc
lett after reduction OF the debt, for all other
purposes whatsoever; $40. 900 more than the
largest estimate of moneys placed in my
S125, 900.
l pray further to correct, that Wilhelm
Won Kaulbach's painting in our gallery is
Peter Arbues," not the "Gefeoht" by
Joseph Won Brandt. And the painting re-
Gently sold in New York for $4,000 is not
work by Kaulbach, but by Munkacsy.
CARL L. BRANDT, N. A,
Director