The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-08-07
JUDGE FALLIGANFs OPINION.
His Decision I'm the Art school Case
Rendered.


Rendered.
Judge Robert Falligant rendered his de-
cision yesterday in the matter of the
petition Of the Georgia Historical soci-
ETY., and, as announced in the Morning
News, he refused to grant it. There was
some surprise manifested that the tenor
Of the decision should have been pub
lished before the decision itself was rem
dered, but Judge Falligant had mentioned
the matter to several of the gentlemen
interested, and in this way it became
known that he would refuse to grant it.
The decision in full is as follows:
I'm the matter of the application of
the Georgia Historical Society as trustee
for leave to issue bonds, etc. In Chat
ham superior court.
This cause came on to be heard upon
petition and amendments, with evidence
presented by petitioners and Messrs. Har-
den & Saussy, who appeared as amici
curiae, and opposed the granting of the
prayer of petition. After full argument
and due consideration given, the court
is of the opinion
Il. That 1t is perfectly competent, and
not Inconsistent with, but in furtherance
of the spirit and purposes of the trust to
establish and conduct in connection with
the academy an art school and pay for
an instructor from such income as may
be available after meeting the higher and
primary obligations of the trust
%. The original Indebtedness growing
out of the erection of the annex of more
than $4,000 has been reduced to $40, coo and
1t is a matter of discretion on the part of
the board of managers to pay this amount
to the creditor in such sums annually as
they may determine, the amount of prin-
cipal to be paid annually as their judg-
ment upon the necessity of the case may
determine. The interest must be paid as
ii becomes due.
IF the board think proper to use a
portion of the income for art instruction.
they can do so. 1t is proposed by the ne
titioners to issue a series of bonds
amounting to $4,000, payable in gold, with
interest, coupons attached with the pro-
vision that in case the interest is not paid
for the space of three months after be-
coming due, the whole debt of $4,000 which
would not otherwise mature under ten
years, shall Immediately become due and
payable. To secure these bonds il is pro
posed to give a lien upon the entire in
come of the trust estate arising from 600
shares of Augusta and Savannah railroad
stock by executing an irrevocable power of
attorney to an agent named to collect the
entire income and disburse it as provided
in the power.
In my judgment the purposes of the
trust can be carried out so far as art in
struction demands without the improvi-
dent and perilous impounding of the in
come.
Recognizing the obligation of the trus
tee to the creditor and the existing obIi-
cation of the creditor TO the trustee there
is no reason why art instruction should
not be provided and paid for, and the re-
naming indebtedness liquidated within
the spirit and interest of the original
agreement between the parties.
This magnificent trust is for all time
and should be administered according 10
its spirit and intent with patient con.
sideration.
In my Judgment it would be against
the spirit of the trust, and dangerous ia
its future security to authorize what is
prayed for. The prayer of the petition Is
therefore refused. Aug. 6. 1896, r. Falh-
CANT, judge.