The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-05-05
TO HAVE THE ART SCHOOL.
THE GEORGIA HISTORICAL sOCI-
Ely ADOPTS THE MINORITY
REPORT.


the Matter Of Securing a Loan Ia
Pay the Debt TO Gen. Jackson-The
Report as Adopted Provides Also
for a Distribution OF the TeIfair
Academy's Income 10 Necessary
Purposes, Including the Art
schOoI-HOn. Pope Barrow Favored
the Report and Spoke in Behalf OF
It-Gen jackson Appoints the Com
mitfee.
The Georgia Historical Society. at its
regular meeting last night, adopted reso-
IutiOns as the report of the minority of
the board Of directors Of the Telfair
Academy which provide for the estab-
lshment at the academy Of the perma-
nent art school, about which there has
been so much talk.
After the transaction Of the usual pre-
liminary business the majority report
which cut short the consideration Of the
matter by the board, was read by Mr.
William Harden, the acting secretary.
The majority report was in the shape
of a resolution introduced in meeting
Of the board by Col George A. Mercer.
This report disapproved the resolutions
offered. and referred to the board, sug-
costing plans for the establishment of an
art school, on the grounds that the So
ciety had no power to borrow money,
or to pledge the stock Of the Augusta
and Savannah railroad, or even to pledge
its income as the security for loan, un-
der the will of Miss Telfair. 1t was
stated the board could not borrow money
on the terms proposed, and it was deem
ed bad policy TO discharge an existing
obligation which might be paid off in five
years. and create a new one which might
run for ten or fifteen years The last
section Of the majority resolutions stated
practically that the terms of Miss Telfair's
viii would not permit Of any such plan
as was proposed.
Capt H. c. Cunningham then read the
report of the minority which was signed
by himself and Mr.. Charles West, as FOL
A majority of the board of managers Of
the Georgia Historical Society having re-
solved that the resolution introduced by.
Col. VIM Garrard, and referred TO them
at the March meeting of the said society
should be reported back to the society DIS
approved, the undersigned, minority OF
the board of managers Of the Georgia lis
torical Society beg leave to give the Iol-
lowing reasons for their dissent from SAID
resolutions of the majority: -
/. Because, in our opinion, the Geor-
gia Historical Society, as the trustee un-
der the win of Miss Telfair, has created
a debt for the Improvement and benent OF
the trust estate created under said VIII,
and that said debt is now due 10 Gen.
Henry r. Jackson, and amounts to 3.
?. That the income arising from the one
thousand shares Of the Augusta ana pa
vannah railroad stock held in trust by the
society has by a resolution Of the society
passed on the - day of --, 1886,
been hypothecated and charged with the
payment of the said debt now due.
3. That in our opinion the hypotheca-
tion of said income was legal and created
a charge on said income.
4. That it is within the power OF the
Georgia Historical Society to hypothecate
a portion of the income arising from the
one thousand shares of Augusta and Sa-
Vannah railroad stock TO the payment OF
the debt due to Gen, Jackson.
5. That 1t is possible TO procure loan OF
$4,000 with which to pay off Gen. jack
sons debt and that an effort should be
made to procure such loan; and TO that
end we would recommend that the Georgia
Historical Society do pass the following
resolutions in lieu of those introduced by
Col Garrard at the March meeting, and
referred to the board OF managers;
Be 1t resolved, l. That a committee or
three members of the society be appointed
a committee to procure a loan OF $lZ,UOO
with which to pay off said loan due Cen
jackson, provided the same can be pro-
cured at a rate of interest not to exceed
per cent. per annum.
2 That when said committee shall have
agreed upon said loan, they shall be au-
thorized and empowered to petition the
superior court OF Chatham county, set
ting forth the facts connected with said
debt, and asking authority from SAID
court to hypothecate so much OF the IN
come arising from the Augusta and Sa-
Vannah railroad stock held by this socie-
ty in trust under the Will of Miss Mary
Telfair as may be necessary to secure
! the payment of said debt, the interest
| on said S12, 600 to be paid as may be agreed
| upon between the parties, and a sinking
fund of not less than $1,000 to be taken
| from said income to be deposited at in
| terest with the party loaning said sum,
! so that the debt may, If POSSIBLE be en-
| tirely paid off within ten years.
3. That said committee have authority
| to make the petition in the name of the
! Georgia Historical Society, and to get
! fun power and authority from the court
| to hypothecate the income of said stock
! for the purposes aforesaid.
4. That the income derived from the
! one thousand shares of Augusta and Sa-
vannah stock shall be used as follows:
a. So much of said income as is neces-
saly shall be applied to the repairs and
maintenance of THE buildings and prem
/ ises fronting on st. James square in the
| city of Savannah, and running back to
Jefferson street, known on the plan OF
said city as lot letter n, Heathcote ward,
| said city.
b, That so much of said income as
may be necessary shall be used to pay
the interest on said loan, and the sinking
| fund of not less than $1,000 per annum.
c. Ihat such part Of said income as
| board of managers of the Georgia. His
torcal Society for the establishment and
maintenance of a school of art in said Tel
fair Academy.
d. That on the delivery and acceptance
by the board of managers of the picture
Of Miss Telfair, to, be painted by Mr.
Brandt, not more than 1000 of the in.
t come shall be invested by the board OF
managers annually for the payment o1
the said picture; or the board Of managers
may arrange, using not more than SOl
per annum, for the liquidation of sale
debt" Fl. c. Cunningham.
c. N. West
| When Capt. Cunningham finished read
ing the minority report. Col John Screv
en- said that the gentlemen who represen
the majority were absent, and Col Georg,
| A. Mercer would not be able to return he
fore July 1. He said he was satisfied the,
all cordially desired an art school. but ha5
been detained he thought, by the appre
hension that the will of Miss Telfair doe
not except by implication, permit of sucl
a use of the funds, and in other resDectl
the will is express. All, he said. wer,
thoroughly conscientious, and If as /
the case, there is a common desire for an
art school. all interested should be allow
ed to be present when the matter is acte,
| on. He spoke Of an art school having beel
/, | in the academy since 1885 up to the rim,
] AIr md T..FH I .