126 JOURNAL OF PROCEEDINGS. 



called attention to the fact that their present value was about $7,000 less 

 than at the last meeting of the Board. 



Mr. Withers was of the opinion that the temporary depression was 

 due to fears of improper legislation by the State, and he could not pre- 

 dict what course would be pursued, but he believed it injudicious for the 

 Institution to part with these funds at i^resent. 



The Chancellor and the other Regents concurred in this opinion. 



Dr. Parker, from the Executive Committee, presented the following 

 report relative to the portrait of the Secretary, ordered by the Board at 

 its last annual session : 



REPORT. 



TheExecutive Committee, which were authorizedand requested to have 

 a life-size portrait of the Secretary of the Institution painted by some 

 competent artist, report that after a full inquiry for the best artist, the 

 chairman of the committee visiting New York solely for the purpose, 

 consulting men acquainted with, and judges of, the artists of the city, and 

 visiting the studios of some of the most distinguished portrait-painters 

 and examining their works, their choice was between Daniel Huntington 

 and Thomas LeClear, esqs. 



Mr. Huntington, who had painted Professor Henry when a younger 

 man, would have been happy to paint him again in the maturity of his 

 years, but his health was delicate and he was averse to leaving home. 

 Mr. LeClear could come to Washington and paint the portrait at once. 

 The prices were essentially the same with both artists. 



Mr. LeClear was decided upon, and he agreed " to paint a three-quarter 

 length life-size, the canvas to be three feet by two feet nine inches, head 

 and two hands, for $1,500, the same to be painted in the best style pos- 

 sible to him." 



Mr. Huntington, on learning the decision of the Executive Committee, 

 wrote: "I congratulate you on your choice of my esteemed friend, Mr. 

 Thomas LeClear, .to paint the portrait, which will insure you a work of 

 rare artistic merit." 



The committee have now the pleasure of presenting the Board of Ee- 

 gents the portrait of Professor Henry, the result of their endeavor to 

 discharge the delicate duty devolved upon them. 



PETER PARKER, 

 GEO. BANCROFT, 

 JOHN MACLEAN, 

 Executive Committee. 



January 22, 1878. 



On motion of Mr. Withers, the report of the committee was received 

 and ordered to lie upon the table for the present. 



Dr. Parker presented the annual report of the Executive Committee, 

 signed by himself. Dr. Maclean, and Mr. Bancroft, relative to the re- 

 ceipts, expenditures, estimates, &c. 



