PHILADELPHIA BAR ASSOCIATION RESOLUTION TO SELL "OLD TREE -- CHALFONTE"
WHEREAS, Minutes from the May 25, 1959 Board of Governors meeting reflect that the late Hon. Harold D. Saylor, offered "to the Philadelphia Bar Association as a gift 'without strings' a painting entitled, 'Old Tree Chalfont', painted in 1929 by Daniel Garber."; and
WHEREAS, at the same meeting, the Board of Governors accepted the painting properly titled by the artist as "Old Tree - Chalfonte" (the "painting") with appreciation; and
WHEREAS, from 1959 until 1989 the painting was housed in City Hall; and
WHEREAS, Judge Saylor's widow, Audrey Saylor, reaffirmed via letter to her counsel, Martin A. Heckscher, that the painting was a donation from her late husband to the Philadelphia Bar Association; and
WHEREAS, since 1989 the painting has been displayed at the Philadelphia Bar Education Center in the Wanamaker Building, then at the Woodmere Art Museum and at a special Garber Exhibit at the Pennsylvania Academy of the Fine Arts; and
WHEREAS, for much of the time the painting has been housed at the various museums, the painting has been kept in appropriate safeguarded storage but not on display; and
WHEREAS, the painting itself is not law-related and consequently does not have historical value pertaining to the practice of law in Philadelphia; and
WHEREAS, the highest appraised value of the painting has been $1,000,000, and the painting is now valued at $950,000.
WHEREAS, the art market is not stable and the value of the painting is not secure; and
WHEREAS, the Philadelphia Bar Association is desirous of increasing its cash reserves to a level of 6 months of operating expenses; and
WHEREAS, the Philadelphia Bar Association has been contacted by an art dealer whose client has expressed interest in purchasing the painting.
NOW, THEREFORE, BE IT RESOLVED that the Philadelphia Bar Association Board of Governors approves placing the painting for sale; authorizes the Chancellor to accept an offer that the Chancellor believes reasonable should the painting have an actual purchaser; and directs that the proceeds from the sale of the painting will be added to the cash reserves of the Philadelphia Bar Association.
PHILADELPHIA BAR ASSOCIATION
BOARD OF GOVERNORS
ADOPTED: April 29, 2015