The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-03-15
THE HERON ART FUNDS
ASSOCIATION DECIDES on METHOD
OF DIVIDING THEM.
Income of SI5O.OOO for Pictures. $685.
900 for Property and Provision
for school.

AZ d meeting OF the board or directors OF
the indianapolis Art Association yesterday
afternoon at the Propylaeum the committee
composed of II. III. Hanna, chairman. Mrs.
May Wright Sewall, A. p. Stanton and c.
r.. Hollenbeck, appointed to consider and
recommend plans to govern the future policy
of the association. made report and stated
that the members OF the committee were
unanimous in recommending the following
| resolutions:
Whereas. In his last will and testament
John Heron, late of Marion county, State
OF Indiana, bequeathed large portion or
principal part of the Droceeds of his estate
10 this association for the maintenance by
1t Of an art gallery and art school, 10 be
perpetuaily called by name including as
part thereof the name of said testator; and
such proceeds have been largely realized
and much has been delivered TO this associa-
tlon upon It's acceptance of the conditions
Whereas, Because of the wish and in
tentlon manifested by said Will. the condi-
lions of said bequest and the grateful APP
probation by this association OF the benefi-
cence OF said testator. IL is desired and in
tended by this association to establish an
art school and art gallery TO be maintained
forever under such name, in manner
suitable 10 the magnitude of the gift and
the growing needs in art of the city of
BE 1t resolved. by the members of the
Art Association of Indianapolis. Ind, That
an arr schooi and art gallery be, and the
called, known and designated by the name
John Heron Art Institute and that to
proVlde lor the maintenance or SAID art
school ana art gallery In suitable manner
and with suitable facilities three funds are
hereby created, each to be designated. con-
stituted, preserved and forever employed in
she manner, upon the terms and conditions
and for the uses and purposes following.
that is to say:
''Ffrst-The art treasure fund shall consist
OF the sum OF $4,000, hereby set apart
thereto from the proceeds of the estate of
sad John Heron and all gifts and be-
said fund and all accretions and acQuisi-
tions of every description derived in any
manner for the benefit OF said fund. which
shall be kept invested in Understanding
securities or other productive property, and
the income and revenue derived therefrom
after payment OF proper expenses, shall be
used In buying and preserving pictures,
statuary and works of art. or art treasures
OF al kinds; The principal of .s said fund
and revenue shall be used for such pur-
poses but nothing herein contained shall
from acquiring any such works or treasures
by specific gifts or requests or to employ
am; any IN, money propercy given or bequeathed
OF art upon any other terms or conditions
than herein expressee.
Second-The art-school fund shall consist
OF the sum of $4,000. hereby set apart there
TO from the proceeds of said estate and all
gifts and requests which may at any time
be made to said fund and all accretions and
acquisitions Of every description derived in
any manner for the benefit of said fund,
which shall be kept invested in interest
bearing securities or other productive prop
erty. and the income and revenue derived
thei efrom after payment of proper expenses
shall be used for the purpose of maintaining
and conducting the art school established
by and in these resolutions. The principal
Of this fund shall be kept intact. and only
the revenue and income thereof shall be
used, but nothing herein shall prevent this
association from receiving and using any
gifts and requests for the benefit of said
school, according TO any special terms and
conditions thereof.
'"Third-The Art Association building fund
shall consist of the sum of $65, 900. hereby set
apart thereto from the proceeds of said es-
tate. and all gifts and requests which may
at any time be made TO said fund. and all
accretions and acquisitions of every descrip-
ton that may come TO said fund from any
source whatever. This fund shall be used
to buy ground and erect thereon structure
suitable 20 the purposes of this association
and the maintenance of the art school and
art gallery established by these resolutions.
But before any part of said found shall be
set apart for building proper at least the
sum OF $4,000 shall be raised by subscription
or otherwise, so that when such structure
is to tie erected there shall be available for
such purposes at least the sum of $4,000.
''Fourth-The management and control of
said several funds shall he in the board Of
directors OF this association, which board
may. through committees or officers or 9TH
erwse. prescribed by bylaw or by the
board itself in the absence OF bylaw, eX-
ercise complete power. management, control
and disposition of said funds of any prop
erty or effects belonging 10 any thereof,
and said board shall have full discretion in
the exercise of such power. subject only to
the condition that none of such funds or any
property or effects belonging TO any thereof
Except sales may be made for purposes
of reinvestmeut of proceeds In similar prop
erties) shall be diverted from the objects
and purposes as above declared and pro-
vided. IL being understood. declared and
agreed that the declaration and provisions
aforesaid relating to said several funds are
irrevocable trusts to he enforced by any
appropriate proceedings instituted by any
officer or member of this association or any
other person interested concerned in the
proper fulfilment of said trusts"
After comprehensive discussion OF the res
olutions all the directors voted to adopt
them. A meeting Of the members of the
Art Association will be called for next Tues
day afternoon, at which The board of direc-
tors will ask that action be taken in APP
proval CT the boards plans.